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ANZ Rewards Black: High Points, High Costs
ANZ's Rewards Black card offers a massive 180,000-point welcome but demands a big spend and a hefty fee. Is it worth it for you?
The Quick Version
ANZ Rewards Black card is all about high rewards for high spenders. With up to 180,000 bonus points and 2 points per A$1 on the first A$5,000 spent each statement, it's lucrative. But the A$375 annual fee and a minimum A$15,000 credit limit make it a premium choice.
Rates shown are representative. Your actual rate depends on your credit profile. This is not financial advice.
ANZ Rewards Black Credit Card
ANZ Rewards Black offers high rewards but at a premium cost.
Fees & Rates
The card comes with a steep A$375 annual fee, split into a A$320 annual fee and a A$55 rewards service fee. The APR is 20.99% p.a., according to ANZ's official page. If you carry a balance, this rate is punishing. For big spenders, the 2 points per A$1 rate on the first A$5,000 per statement is attractive, but it halves after that.
What's Actually Good
The standout feature is the 180,000-point welcome package, split into 130,000 points for spending A$5,000 in the first three months, plus a 50,000-point bonus after 15 months. Points can be transferred to Velocity, KrisFlyer, and other programs. Complimentary travel insurance and 24/7 personal concierge service add extra value for frequent travelers.
The Catch
The A$375 annual fee is a barrier, especially when combined with a required A$15,000 minimum credit limit. The bonus requires a significant spend of A$5,000 in three months, and the 20.99% purchase rate is brutal for anyone carrying a balance. After A$5,000 in monthly spending, the earn rate drops, limiting its long-term value.
This Card Is For You If...
You're a high earner with substantial monthly expenses who can maximize the rewards without carrying a balance. If you travel frequently and can leverage the transfer partners and insurance, this card might be a fit. If you're spending less or need to carry a balance, look elsewhere.
The Bottom Line
The ANZ Rewards Black card excels in rewards but demands a lot in return. It's tailored for big spenders who can extract full value from the welcome bonus and extras. For a more budget-friendly alternative, consider the HSBC Star Alliance Credit Card: Travel Perks with a Price.
