ANZ

Frequent Flyer Black

Purchase Rate

Purchase Rate

20.24%

Balance Transfer Rate

Balance Transfer Rate

20.24%

Annual Fee

Annual Fee

$425

Max Free Days

Max Free Days

55

Late Payment Fee

$20

Purchase Rate

Purchase Rate

20.24%

Balance Transfer Rate

Balance Transfer Rate

20.24%

Annual Fee

Annual Fee

$425

Max Free Days

Max Free Days

55

Late Payment Fee

$20

Pros and Cons

Pros and Cons

  • Rewards Available through Qantas Frequent Flyer (ANZ Frequent Flyer Black)
  • Bonus 120000 points subject to eligibility conditions
  • Apple Pay, Google Pay and Samsung Pay available
  • Free domestic travel insurance
  • Purchase protection insurance
  • Extended warranty
  • Concierge
  • Special events
  • Partner discounts
  • Airport lounge
  • International travel insurance
  • Rental vehicle excess in australia insurance
  • Guaranteed pricing scheme
  • Transit accident insurance
  • Does not offer free supplementary cards
  • Late payment fee

ANZ Features and Fees

ANZ Features and Fees

Details

Card Level

Premium

Card Type

Visa

Interest Free Days

Interest Free Days

55

Minimum monthly repayment

2% or $25

Minimum credit limit

$15k

Maximum credit limit

$75k

Free supplementary cards

Number free supplementary

0

Instant Approval

Fees

Annual Fee

Annual Fee

$425

Annual Fee Spend Waiver

Supplementary card annual fee

$65

Late Payment Fee

$20

Over limit fee

$20

Duplicate statement fee

$0

Electronic Wallet Service

Important Rates

Rates

Purchase Rate

Purchase Rate

20.24%

Cash advance rate

20.24%

Cash advance fee

2% or $4

Balance Transfer

Balance Transfer Rate

Balance Transfer Rate

20.24%

Transfer Limit

95%

of the approved credit limit

Balance Transfer Fee

$0

Overseas spending

Foreign Exchange Fee

3% on Visa

Overseas charges

Overseas charges

$6

Estimated ATM Cost

$15

for AU $300 withdrawal

Rewards

Program name

Qantas Frequent Flyer (ANZ Frequent Flyer Black)

Rewards Available

Cash Back, Domestic Flights, International Flights

Eligibility

Minimum age

18

Minimum income

$0

Eligibility conditions

A non-permanent resident with more than 9 months remaining on your Visa

Residency

Earn Rates

RateCard TypeEarnsCondition

1 point for $1 spent

Visa

Up to $7.5k monthly

eligible purchases

0.5 points for $1 spent

Visa

uncapped

eligible purchases

Perks

  • FREE DOMESTIC TRAVEL INSURANCE Available for up to 14 days when you use your card to pay for return domestic travel
  • PURCHASE PROTECTION INSURANCE Cover lasts for 90 days per year
  • EXTENDED WARRANTY Warranty is extended for the same duration as the original warranty up to 1 year.
  • CONCIERGE
  • SPECIAL EVENTS
  • PARTNER DISCOUNTS
  • AIRPORT LOUNGE
  • INTERNATIONAL TRAVEL INSURANCE
  • RENTAL VEHICLE EXCESS IN AUSTRALIA INSURANCE
  • GUARANTEED PRICING SCHEME
  • TRANSIT ACCIDENT INSURANCE
Specials
  • Bonus PointsCashback Earn 120,000 bonus Qantas Points and $200 back to your new ANZ Frequent Flyer Black credit card*
    *When you spend $3,000 on eligible purchases in the first 3 months from approval. New card. T&Cs, eligibility criteria, fees & charges apply (including annual fee, currently $425).

Other Benefits

Complimentary Qantas Frequent Flyer membership

Pros and Cons

  • Rewards Available through Qantas Frequent Flyer (ANZ Frequent Flyer Black)
  • Bonus 120000 points subject to eligibility conditions
  • Apple Pay, Google Pay and Samsung Pay available
  • Free domestic travel insurance
  • Purchase protection insurance
  • Extended warranty
  • Concierge
  • Special events
  • Partner discounts
  • Airport lounge
  • International travel insurance
  • Rental vehicle excess in australia insurance
  • Guaranteed pricing scheme
  • Transit accident insurance
  • Does not offer free supplementary cards
  • Late payment fee

ANZ Features and Fees

Details

Card Level

Premium

Card Type

Visa

Interest Free Days

Interest Free Days

55

Minimum monthly repayment

2% or $25

Minimum credit limit

$15k

Maximum credit limit

$75k

Free supplementary cards

Number free supplementary

0

Instant Approval

Fees

Annual Fee

Annual Fee

$425

Annual Fee Spend Waiver

Supplementary card annual fee

$65

Late Payment Fee

$20

Over limit fee

$20

Duplicate statement fee

$0

Electronic Wallet Service

Important Rates

Rates

Purchase Rate

Purchase Rate

20.24%

Cash advance rate

20.24%

Cash advance fee

2% or $4

Balance Transfer

Balance Transfer Rate

Balance Transfer Rate

20.24%

Transfer Limit

95%

of the approved credit limit

Balance Transfer Fee

$0

Overseas spending

Foreign Exchange Fee

3% on Visa

Overseas charges

Overseas charges

$6

Estimated ATM Cost

$15

for AU $300 withdrawal

Rewards

Program name

Qantas Frequent Flyer (ANZ Frequent Flyer Black)

Rewards Available

Cash Back, Domestic Flights, International Flights

Eligibility

Minimum age

18

Minimum income

$0

Eligibility conditions

A non-permanent resident with more than 9 months remaining on your Visa

Residency

Earn Rates

RateCard TypeEarnsCondition

1 point for $1 spent

Visa

Up to $7.5k monthly

eligible purchases

0.5 points for $1 spent

Visa

uncapped

eligible purchases

Perks

  • FREE DOMESTIC TRAVEL INSURANCE Available for up to 14 days when you use your card to pay for return domestic travel
  • PURCHASE PROTECTION INSURANCE Cover lasts for 90 days per year
  • EXTENDED WARRANTY Warranty is extended for the same duration as the original warranty up to 1 year.
  • CONCIERGE
  • SPECIAL EVENTS
  • PARTNER DISCOUNTS
  • AIRPORT LOUNGE
  • INTERNATIONAL TRAVEL INSURANCE
  • RENTAL VEHICLE EXCESS IN AUSTRALIA INSURANCE
  • GUARANTEED PRICING SCHEME
  • TRANSIT ACCIDENT INSURANCE
Specials
  • Bonus PointsCashback Earn 120,000 bonus Qantas Points and $200 back to your new ANZ Frequent Flyer Black credit card*
    *When you spend $3,000 on eligible purchases in the first 3 months from approval. New card. T&Cs, eligibility criteria, fees & charges apply (including annual fee, currently $425).

Other Benefits

Complimentary Qantas Frequent Flyer membership

FAQs

How is credit card interest charged?

Your credit card will be charged interest when you don’t pay off the balance on your credit card. Your card provider or bank charges you the individual interest rate that is associated with your card, which is usually between 10 and 20 per cent. 

The interest will be added onto your bill each month or billing period if you don’t pay off the balance, unless you are in an interest-free period.

You will be charged interest on anything that hasn’t been paid for inside the interest-free period. Usually you will receive a notice on your bill or statement saying you will be charged interest so you have some form of notice before you’re charged.

How do you use a credit card?

Credit cards are a quick and convenient way to pay for items in store, online or over the phone. You can use a credit card as a cashless way to pay for goods or services, both locally and overseas. You can also use a credit card to make a cash advance, which gives you the flexibility to withdraw cash from your credit card account. Because a credit card uses the bank’s funds instead of your own, you will be charged interest on the money you spend – unless you pay off the entire debt within the interest-free period. If you pay the minimum monthly repayment, you will be charged interest. There are many different credit card options on the market, all offering different interest rates and reward options.

Can a pensioner get a credit card?

It is possible to get a credit card as a pensioner. There are some factors to keep in mind, including:

  • Annual income. Look for credit cards with minimum annual income requirements you can meet. 
  • Annual fees. If high fees are a concern for you, opt for a card with a low or $0 annual fee. 
  • Interest rate. Make sure you won’t have any nasty surprises on your credit card bill. Compare cards with a low interest rates to minimise risk.

How does credit card interest work?

Generally, when we talk about credit card interest, we mean the purchase interest rate, which is the interest charged on purchases you make with your credit card.

If you don’t pay your full balance each month (or even if you pay the minimum amount), you are charged interest on all the outstanding transactions and the remaining balance. However, interest is also charged on cash advances, balance transfers, special rate offers and, in some cases, even the fees charged by the company.

The interest rate can vary, depending on the credit card. Some have an interest-free period, otherwise you start paying interest from the day you make a purchase or from the day your monthly statement is issued. So avoid interest by paying the full amount promptly.

How do you use credit cards?

A credit card can be an easy way to make purchases online, in person or over the phone. When used properly, a credit card can even help you manage your cash flow. But before applying for a credit card, it’s good to know how they work. A credit card is essentially a personal line of credit which lets you buy things and pay for them later. As a card holder, you’ll be given a credit limit and (potentially) charged interest on the money the bank lends you. At the end of each billing period, the bank will send you a statement which shows your outstanding balance and the minimum amount you need to pay back. If you don’t pay back the full balance amount, the bank will begin charging you interest.

Which credit card has the highest annual percentage rate?

The credit card market changes all the time, so the credit card with the highest annual percentage rate is also liable to change.

Keep in mind that credit card interest rates are expressed as a yearly rate, or annual percentage rate (APR). A low APR is generally good but also consider:

  • There can be different APR's for each feature of the card (e.g. purchases may have an APR of 14 per cent, while cash advances on same card could have an APR of 17 per cent.
  • Credit cards with a variable rate can change throughout the year, affecting your APR, so check the full details.
  • If you pay your balance in full every month, having the lowest APR is not as important as the other fees associated with the card. However, if you carry a balance from month to month, then you want the lowest APR possible.

How to calculate credit card interest

Credit card interest can quickly turn a manageable balance into unmovable debt. So being able to understand how interest rates translate into dollars is an important skill to acquire.

The common mistake people make is focusing on the credit card’s annual percentage rate (APR), which often sits between 15 and 20 per cent. While the APR does provide a rough idea of how much interest you’ll pay, it’s not entirely accurate.

This is because you actually accrue interest on your balance daily, not annually. So, you need to work out your daily periodic rate (DPR). To do this, divide your card’s APR by the number of days in a year (e.g. 16.9 per cent divided by 365, or 0.05 per cent). You can then apply this figure to the daily balance on your credit card.

How to get a free credit card

There's no such thing as a free lunch. All credit cards come with associated costs when used to make purchases, even if it’s simply the cost of making repayments.

However, many lenders offer incentives for customers such as a $0 annual fee or 0 per cent interest on purchases during an introductory period. Additionally, paying off your balance in full during an interest-free period means you could only have to pay back the cost of purchases without interest. You could also be eligible for additional rewards such as cashback during that time, saving you more money.

What is a balance transfer credit card?

A balance transfer credit card lets you transfer your debt balance from one credit card to another. A balance transfer credit card generally has a 0 per cent interest rate for a set period of time. When you roll your debt balance over to a new credit card, you’ll be able to take advantage of the interest-free period to pay your credit card debt off faster without accruing additional interest charges. If your application is approved, the provider will pay out your old credit card and transfer your debt balance over to the new card. 

What's the best credit card for rewards?

There is no one-size-fits-all best rewards credit card. It's best you research what type of rewards program you'd like, as well as the fees, interest rate and conditions associated with those types of cards before making a choice. 

Rewards credit cards can also come with high annual fees that may end up nullifying the rewards, so think how often you use the card to decide whether the benefits outweigh the extra cost for you. A card with a lower annual fee might require a lot of spending to get any useful rewards, while another card with a higher annual fee might need fewer purchases to get a reward. 

How to pay a credit card

There are a few ways to pay a credit card bill. These include:

  • BPAY - allows you to safely make credit card payments online.
  • Direct debits - set up an automatic payment from your bank account to pay your credit card bill each month. You can choose how much you want to pay of your credit card bill when you set up the auto payments.
  • In a branch.
  • Via your credit card provider's app.

Current Interest Rate

This is the current interest rate on your existing credit card.

Should I get a credit card?

Once you've compared credit card interest rates and deals and found the right card for you, the actual process of getting a credit card is quite straightforward. You can apply for a credit card online, over the phone or in person at a bank branch. 

How to pay a credit card from another bank

Paying or transferring debt from one lender to the other is called a balance transfer. This involves transferring part or all of the debt from a credit card with one lender to a credit card with another. As part of the process, your new lender will pay out the old lender, so that you now owe the same amount of money but to a new institution.

Many credit card providers offer an interest-free period on balance transfers to help new applicants better handle their debt. During this period, cardholders are not required to pay interest on the debt they brought over from the other card. This can be a great opportunity for consumers to pay off credit card debt with no interest. There are often fees associated with balance transfers; normally, these are a percentage of the amount transferred.

So make sure you read the terms and conditions of the card before transferring any debt across.

What happens if I have a bad credit score?

If you have a bad credit score, you might encounter two main problems. First, the lower your credit score, the more likely you are to be rejected when you apply for a loan or any other credit product. Second, if your application is accepted, the less likely you are to qualify for the lowest interest rates.

Why should I check my credit rating?

There are two reasons you should check your credit rating: so you have a better understanding of your financial position, and so you can take action (if necessary) to improve your credit rating.

Lenders use credit ratings or credit scores to assess loan applications. The higher your score, the more likely you are to get approved, and the more likely you are to be charged lower interest rates and lower fees. Conversely, the lower your credit score, the less likely you are to get approved, and the more likely you are to be charged higher interest rates and higher fees.

Why do different credit reporting bureaus use different scores?

The reason Equifax, Experian and Illion use different scores is because they are independent companies with their own different methodologies. As a result, a score of, say, 700 would mean different things at different credit reporting bureaus.

However, the one thing they have in common is that they divide their scores into five tiers. So if you receive a tier-two credit score from one bureau, you will probably receive a tier-two score from the others, as well.

Can I get a credit card on part-time/casual work?

Yes, as credit card providers look at your annual income amount as well as your occupation. Minimum income requirements tend to be between $30,000 – $40,000 for standard and rewards credit cards, however low income credit cards can have minimum income requirements as low as $15,000 per year.

How to get a credit card for the first time

A credit card can be a useful financial tool, provided you understand the risks and can meet repayment obligations.

If you’re a credit card first-timer, review your options. Think about what kind of credit card would suit your lifestyle, and compare providers by fees, perks and repayments.

Once you’ve selected a card, it’s time to apply. Credit card applications can generally be completed in store, online or over the phone.

When you apply for a credit card for the first time, you must meet age, residency and income requirements. As proof, you must also provide documentation such as bank account statements.

How easy is it to get a credit card?

For most Australians, there are no great barriers to applying for and getting approved for a credit card. Here are some points that a lender will consider when assessing your credit card application.

Credit score: A bad credit score is not the be all and end all of your application, but it may stop you being approved for a higher credit limit. If your credit score is less than perfect, apply for the credit limit that you need, rather than the one you want.

Annual income: Most credit cards have minimum annual income requirements. Make sure you’re applying for a card where you meet the minimum.

Age & residency: You need to be at least 18 years old to apply for a credit card in Australia, and most require that you are an Australian citizen or permanent resident. However, there are some credit cards available to temporary residents.