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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
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.
