How to cut costs on essentials
Ditch the reliance on the credit card and cut down on costs with these tips. It pays to ditch the big-name brands at the supermarket.
Number free supplementary
Interest Free Days
Interest Free Days
Maximum credit limit
Late Payment Fee
Minimum credit limit
Over limit fee
Minimum repayment dollars
Duplicate statement fee
Minimum repayment percent
Supplementary card annual fee
Cash advance rate
Balance Transfer Rate
Balance Transfer Rate
Balance Transfer Fee
Foreign Exchange Fee
3% on Visa
Estimated ATM Cost
for AU $300 withdrawal
ANZ Rewards Platinum
Be 18 years of age or over, and; Be a permanent Australian resident or a non-permanent resident with more than 9 months remaining on your Visa
|1.5 points for $1 spent||Visa||Up to $2k monthly||eligible purchases|
|0.5 points for $1 spent||Visa||uncapped||eligible purchases|
New Card. T&Cs, spend, eligibility criteria, fees and charges apply (including annual fee currently $95)
ANZ is one of Australia’s biggest banks. Its history dates back to 1835, when it was originally known as the Bank of Australasia. In 1951, the Bank of Australasia merged with the Union Bank of Australia to form ANZ Bank.
ANZ not only operates throughout Australia, but is also present in New Zealand, Asia, the Pacific, Europe, America and the Middle East.
As one would expect from a big four bank, ANZ offers a wide range of credit cards.
The ANZ Rewards Platinum credit card has a moderate annual fee, moderately high interest rates, and a reasonable amount of interest-free days. This card has an associated reward scheme that allows card holders to earn 1.5 Reward Points per $1 spent on eligible purchases, up to $2,000 per statement period. After you’ve reached your limit, you’ll receive 0.5 Reward Points per $1 spent.
With ANZ Rewards, you can choose to redeem your Reward Points for travel benefits, gift cards, shopping vouchers, entertainment and more. You can redeem your points online or over the phone.
The ANZ Rewards Platinum card comes with several complimentary insurances, including overseas travel insurance, rental excess cover and extended warranty insurance. You’ll also get access to VISA Entertainment, which provides exclusive offers for leisure, dining, travel and shopping experiences.
The ANZ Rewards Platinum card is a good fit for those who want variety in their spending rewards. Though this card doesn’t earn frequent flyer points, card holders are able to use their points for travel benefits as well as gift cards, merchandise and more. The ANZ Reward scheme allows for more choices, making it well suited to customers who want more than just airline benefits.
This card may not be a good fit for those who would rather cut fees and associated costs than earn rewards. Though the annual fee is moderate, those looking for low-fee cards could find one that charges no annual fee.
Because this card has moderately high interest rates, the ANZ Rewards Platinum card would be better suited to card holders who always pay their bill in full each month. Budget card holders may want to shop around for a card with lower interest rates.
The ANZ Rewards Platinum credit card is quite reasonable in its fees for a rewards card. Customers searching for a card that will reward them without charging a high annual fee should consider the ANZ Rewards card. Unlike many other cards, the ANZ does not have a limit on the number of Reward Points you can earn, though the points per $1 spent will decrease above $2,000 monthly spend.
The card also provides several complimentary insurances that will benefit both travellers and shoppers. You’ll enjoy three purchase insurances, as well as ANZ’s Fraud Money Back Guarantee if there are any fraudulent transactions on your card.
For card holders who want to minimise fees, the ANZ Rewards Platinum offers few benefits. The card does not waive the annual fee in the first year, and while you can have additional card holders, you’ll pay an extra annual fee for each one.
Eligible applicants for the ANZ Rewards Platinum credit card must be 18 years of age or over and have a good credit rating. Applicants must be a permanent Australian resident or a non-permanent resident with more than 9 months remaining on your visa. You must earn a minimum annual income of $35,000 and verify your income with two recent payslips. When you apply, you’ll also need details of your expenses, assets and liabilities.
The Australia and New Zealand Banking Group, also called ANZ, is one of Australia’s big four banks as well as one of the largest listed companies in the country. ANZ was founded in the 1830s, focusing on commerce and trade, and has grown to now offer a range of banking products and services to individuals and businesses. ANZ’s offering includes credit cards, personal loans, insurance, superannuation, bank accounts and home loans.
*The ANZ App is provided by Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522. Super, Shares and Insurance (if available) are not provided by ANZ but entities which are not banks. ANZ does not guarantee them. This information is general in nature only and does not take into account your personal objectives, financial situation or needs. ANZ recommends that you read the ANZ App Terms and Conditions available at www.anz.com and consider if this service is appropriate to you prior to making a decision to acquire or use the ANZ App.
Nick Bendel was a property and personal finance editor, covering property, loans, credit cards, superannuation, and other bank products. Nick has previously written for The Adviser, Mortgage Business, Lifehacker, Business Insider, Yahoo Finance, and InvestorDaily, and loves getting elbow-deep in the latest ABS, APRA and RBA data.
Credit cards offering rewards can be great if you know you’ll use the card enough to get significant rewards points, and use the rewards you earn.
They 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.
Also, think about the types of benefits you’d like. There’s no point in getting a card with rewards for retailers you never visit, or travel you don’t have time to use.