ANZ's Frequent Flyer Platinum Visa credit card gets things started with an earn rate of 0.75 Qantas Points per dollar spent up to $3,000 per statement period (0.5/$1 thereafter).
The bank's Platinum card also comes with well-rounded insurance coverage for less than you'd pay for a higher-tier Black card, and can be used with Apple Pay among a range of other mobile wallets.
Right now, there's also an offer of 50,000 bonus Qantas Points and $100 back to your new card when you apply and spend $2,000 on eligible purchases in the first three months from approval.
Additionally, you’ll enjoy discounts of up to 50% at various hotels by opting-in to ANZ's eDine program for an extra $35 each year – and as the name suggests, selected restaurants are also part of the discount deal with a 20% saving off the final bill.
ANZ Frequent Flyer Platinum card: fast facts
- Grade/tier: Platinum
- Card type: Visa
- Loyalty program: Qantas Frequent Flyer
- Qantas Points earned per dollar: 0.75 up to $3,000 per statement period, then 0.5 Qantas Points for purchases over $3,000
- Points capping: No cap, but tiered earning rates apply as above
- Mobile wallets: Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay
ANZ Frequent Flyer Platinum: fees, charges and interest
- Total annual fee: $295 ($195 in the first year after a $100 statement credit)
- Additional/supplementary cardholder fee: $65 with rewards
- Interest rate on purchases: 19.99% p.a.
- Interest-free days on purchases: Up to 55
- Interest rate on cash advances: 21.49% p.a.
- International transaction fee: 3.0%
- Minimum income requirement: $35,000 p.a.
- Minimum credit limit: $6,000
Earning frequent flyer points for free flights
To get you off to a flying start, you could earn 50,000 bonus Qantas Points plus $100 back to your new card after spending $2,000 on eligible purchases in the first three months from approval, helping to reduce the true 'cost' of your annual fee while still offering bonus points.
Under Qantas' current rates, that's enough for a return first class upgrade from a paid flexible business class airfare on the Roo's Sydney-Singapore flights, or a one-way first class upgrade with points to spare on other business class fare types.
For domestic flights, a one-way economy flight from Sydney to Melbourne is yours after spending $14,500 on the Visa in one statement period, or $10,667 over four statement periods.
ANZ Frequent Flyer Platinum cards: insurance
Cardholders may be eligible for free international travel insurance when holding a return ticket for trips of six months or less and charging at least $250 of pre-paid transport, accommodation, hire cars or tours to their ANZ Platinum card before leaving Australia.
That threshold is on the more generous side, as some other banks have pre-paid spending requirements of $500-$1,000 which can leave jetsetters without cover on less-expensive flights to nearby countries like New Zealand, Fiji and even Singapore and Hong Kong during sale periods.
ANZ also offers purchase security insurance, extended warranty cover, a 'best price guarantee' scheme, interstate flight inconvenience insurance and rental vehicle excess cover in Australia, subject to the policy wording.
For the most part, that's expected of a Platinum card, although rental vehicle excess cover trumps the insurance offerings of a number of other Platinum cards.
How it compares
If your focus is Qantas Frequent Flyer points, ANZ dishes out more points per dollar on its Visa card than the comparable CBA Platinum Awards MasterCard (0.4 Qantas Points per dollar spent) and the Westpac Altitude Platinum Visa (0.5/$1).
If you're dropping a sizeable chunk of coin with merchants that accept American Express, you could also pair your ANZ Visa with another card such as the AMEX Qantas Ultimate Card to maximise your points earn.