Meh! "Important information about your ANZ Rewards credit card account"

[LittleFokker]

[TABLE="width: 680"]
[TR]
[TD="bgcolor: #ffffff, align: left"]Dear LittleFokker, [/TD]
[/TR]
[TR]
[TD="bgcolor: #ffffff, align: left"]We’re writing to let you know about a change to your ANZ Rewards Black credit card account. From 14 March 2016:[/TD]
[/TR]
[TR]
[TD="bgcolor: #ffffff, align: left"]

You’ll earn 1.25 Reward Points[SUP]1[/SUP] for every $1 spent on eligible purchases made using your ANZ Rewards Black Visa card.

[TD="align: left"] • [/TD]

[/TD]
[/TR]
[TR]
[TD="bgcolor: #ffffff, align: left"]As a reminder, there is no limit on the number of Reward Points[SUP]1[/SUP] that you can earn on eligible purchases made using your ANZ Rewards Black cards.[/TD]
[/TR]
[TR]
[TD="bgcolor: #ffffff, align: left"][/TD]
[/TR]
[TR]
[TD="bgcolor: #ffffff, align: left"]Choose from over a thousand reward options
We're constantly looking for ways to expand the range of rewards available to you. From flights to hotel stays and premium brand merchandise to everyday essentials such as gift cards from top retailers including Woolworths, Bunnings and Myer. The ANZ Rewards Program offers choice and flexibility through over a thousand options when it comes to redeeming your Reward Points[SUP]1[/SUP].

For more information about this change or other features and benefits of your ANZ Rewards Black credit card account, please call us on 1800 504 872 (+61 3 8699 6975from overseas) between 7am and 9pm AEDT 7 days a week.

We're constantly looking for ways to expand the range of rewards available to you. From flights to hotel stays and premium brand merchandise to everyday essentials such as gift cards from top retailers including Woolworths, Bunnings and Myer, the ANZ Rewards Program offers choice and flexibility through over a thousand options when it comes to redeeming your Reward Points.

For more information about this change or other features and benefits of your ANZ Rewards Black credit card account, please call us on 1800 504 872 (+61 3 8699 6975 from overseas) between 7am and 9pm AEDT 7 days a week.
[/TD]
[/TR]
[/TABLE]
[TABLE="width: 680"]
[TR]
[TD="bgcolor: #ffffff, align: left"]Kind regards,

Adriana Martinez
Head of Consumer Cards[/TD]
[/TR]
[/TABLE]

 

[kamchatsky]

That's a big drop in points for Visa. Originally it is 2 points per dollar. So it means 0.625 Velocity points per dollar on Visa.

 

[Mark3000]

Did it mention any change for black Amex?

 

[bullerdude]

So from 1p/$ to .625p/$ for VISA... basically best earn of the big banks back to equal rubbish earn.

Time to start looking around again I think.

 

[Oxy]

Wow. Has anyone else got this yet?

 

[Hooizzit]

Wow. Has anyone else got this yet?

Similar for my Platinum cards....30% reduction in points for Amex and Visa earn in exchange for reduction in annual fee from $149 to $40. Doesn't quite cut it.

[TABLE="width: 680, align: center"]
[TR]
[TD]We’re writing to let you know about changes to your ANZ Rewards Platinum credit card account. From 14 March 2016:[/TD]
[/TR]
[TR]
[TD]

•	Your Annual Account Fee will be $40 which will apply when your next Annual Account Fee becomes due.

-

•	You’ll earn 1 Reward Point[SUP]1[/SUP] for every $1 spent on eligible purchases made using your ANZ Rewards Platinum Visa card.

•	You’ll earn 2 Reward Points[SUP]1[/SUP] for every $1 spent on eligible purchases made using your ANZ Rewards Platinum American Express® card.

[/TD]
[/TR]
[/TABLE]


From great to just below avg so I'll be looking around as well. Weird too - their website is still quoting the old values for Black and Platinum. Be nice to join up today to find it all changes in 6 wks, unless the emails are targeted to people that spend too much???

 

[Limewood]

Also from what I understand ANZ Plat cards can no longer be used to pay tax after 26th Feb, also some transactions like a business buying goods will be treated as cash. How low can this bank go, bloody greedy, I'm going to go elsewhere.

 

[ragingsheep]

Interesting to see that all reports of the devaluation appears to be for ANZ Rewards only, not the QFF cards.

 

[psi999]

Interesting that the ANZ rewards black is still being advertised with 2 ANZ reward points per dollar with the current 75,000 point promotion.

ANZ Rewards Black Visa 2 Reward Points
per $1 spent on eligible purchases

However....

2. Reward Points and Bonus Reward Points accrue in accordance with the ANZ Rewards - Rewards Program terms and conditions booklet (PDF 76kB) (please call 13 13 14 for a copy). Purchases exclude fees, cash, cash equivalent transactions, balance transfers and premiums paid for ANZ Credit Card Insurance. This Reward Points information displayed on this page applies to new customers only. Existing customers may be subject to a different Reward Points earn rate on both their ANZ Rewards American Express card and/or ANZ Rewards Visa card. Existing customers should call 13 22 73 for information regarding the Reward Points earn rate that applies to their account.

Looks like only existing customers are being boned. Well at this stage.

 

[travelislife]

Wait...I am about to apply for this card for my main Velocity point earn, maybe not such a good idea. Pretty much false advertising if the above is true.

I just called them and directly asked if it is changing and no one has any idea.

 

[albyd]

Probably a good idea to wait to see where the dust settles unless you're applying to harvest a sign on bonus. Citi was first cab off the rank. Now need to see everyone else's response to lower interchange.
Will be interesting to see what happens to the companion Amex.

 

[JohnK]

I think this will happen across the board. First Citibank. Now ANZ.

And banks have been shafting existing customers on most products for long time. All the decent offers were to attract new business not keep existing business.

 

[CMA222]

Slightly OT but CBA redemption rates are creeping up. I use to get $1 per 207 CBA points for conversion to cash and my attempt at redemption today is $1 per 250 points. They are also upping the rate on Flight Centre and Myer redemption from March. The rush to devalue points is on.

 

[Moindardt]

Why on earth are you cashing in CBA points?? The rate is terrible. 2 CBA to 1 QFF or VFF is still way better.

 

[Hooizzit]

Slightly OT but CBA redemption rates are creeping up. I use to get $1 per 207 CBA points for conversion to cash and my attempt at redemption today is $1 per 250 points. They are also upping the rate on Flight Centre and Myer redemption from March. The rush to devalue points is on.

That got me to have a look. The ANZ redemption for retail gift voucher type things has dropped by 10% without any notice. I wonder if the ombudsman has a say in this for people that have been accumulating for years for that special 'something'. This isn't interest rates Mr Bankman.

I'd love to wipe 10% off my debt suddenly.

Shame shame shame.

 

[Fiches Mouser]

So disappointing. I really like my ANZ Rewards cards – the product has served me well.

But with the ATO earn gone and the 1 VFF point/dollar Visa earn rate (which is really useful, considering how many smaller businesses don't accept Amex), I think I'm gone...

Where next though? I'd switch over to an Amex issued card but I really need a Visa or MasterCard too. I guess it's all going to drop with the impending interchange regulation. I imagine others are in the same boat...

 

[Oxy]

Where next though? I'd switch over to an Amex issued card but I really need a Visa or MasterCard too. I guess it's all going to drop with the impending interchange regulation. I imagine others are in the same boat...

Suddenly the Virgin Money High Flyer is back from the dead. I was pretty close to canceling mine, now 1p/$ is looking pretty good. The $10000 cap shouldn't worry me that often.
Still expensive though, and not a fan of the new flight voucher, really poor value I would rather they reduce the annual fee.

I think i'll sit tight for a little longer & see how it all pans out.

Has anyone with an ANZ Qantas card got a reduction in earn notice yet, or still only the rewards cards?

 

[Fiches Mouser]

Suddenly the Virgin Money High Flyer is back from the dead. I was pretty close to canceling mine, now 1p/$ is looking pretty good. The $10000 cap shouldn't worry me that often.
Still expensive though, and not a fan of the new flight voucher, really poor value I would rather they reduce the annual fee.

I think i'll sit tight for a little longer & see how it all pans out.

Has anyone with an ANZ Qantas card got a reduction in earn notice yet, or still only the rewards cards?

I have both the QFF and Rewards cards and I haven't received notice on either yet...

(Quick OT, but related to companies negatively changing products, I received a notice from AGL the other day as courtesy to tell me that this is the last time they'll ever inform me of a rate change prior to the change. Now, for 'simplicity' or some cough, they're going to just make the change and tell me after. No problem guys! Makes complete sense!)

 

[theevilmuppet]

I think this will happen across the board. First Citibank. Now ANZ.

And banks have been shafting existing customers on most products for long time. All the decent offers were to attract new business not keep existing business.

Blame the ignorant sods at the RBA that have mandated lower interchange rates to the detriment of many and benefit of no one whatsoever.

 

[johnny_yh2000]

As far as I'm understand, the black has no change, only the visa one will change. Will it be better of switching to Westpac Altitude Black?