ANZ Launches AMEX/VISA Qantas Card - Changes to points earn on VISA

[Maca44]

After my application for the CBA Platinum Mastercard last week, and speaking with friends over the weekend who were advised of some new changes to take effect shortly, I again contacted the CBA card section who said that effective 23rd October 2009 the dual card system will take place whereby cardholders will be sent the CBA Amex card to use with their Plat card.

She also advised that effective 1st February 2010 the QF earn rate for the CBA Platinum Mastercard will reduce from 1:1 to 2:1. This is the same as the ANZ Gold Visa I currently have, so it's not worth changing cardsat a cost of $200 simply to earn 1:1 until February and have cancelled my application for the Mastercard. The times are a changing and it would appear most, if not all, banks/financial institutions will be changing their earn rate in the near future.

 

[Diesellife]

I don't like that idea at all.... I will move to ANZ and start earning Asiamiles instead

 

[sumthinfornuthin]

Hi Macca44.......try CITIBANK @ 1:1 up to 60,000 points per annum for Gold and 120,000 for Platinum

 

[cwliew]

I currently have both gold ANZ and Gold rewards ANZ cards, which both have limited earns. I have a LOT of throughput through my cards, and the current capping on any card is reached relatively quickly. I already have about 6 visa cards to accomodate their caps.

I do agree that citibank has the best rates of conversion, but even at 2:1 on my ANZ card, I think it will be worth it.

Has anyone compared the ANZ, NAB and Westpac dual card systems? As far as I can recall, most of the data suggests that the westpac system is probably the best overall. (I think it has a 3 dolalrs for 2 point earn rather than 2:1)

I would rather stay with ANZ as my mortgage etc is with them, and hence my payments go through instantly, but am willing to change everything if westpac has a better, uncapped product.

Any thoughts?

 

[Diesellife]

Has anyone compared the ANZ, NAB and Westpac dual card systems? As far as I can recall, most of the data suggests that the westpac system is probably the best overall. (I think it has a 3 dolalrs for 2 point earn rather than 2:1)

It's NAB has 1:1.5, not Westpac.

 

[medhead]

Well I emailed ANZ on Monday re the change over to the new cards. Got a return call today from customer service. They did the whole "what is the security word for your account" routine, which I refuse to provide since they called me and I shouldn't have to ID myself for the bank to look into my account details - I don't want to know anything about my accounts.

So anyway,the point is the advice I got was only general. Basically, the CSR told me that no one was being changed yet and that they would ahve to give me 30 days notice before they could change the arrangements to do with my CC product. Basically, wait for the letter.

 

[trippin_the_rift]

Well I emailed ANZ on Monday re the change over to the new cards. Got a return call today from customer service. They did the whole "what is the security word for your account" routine, which I refuse to provide since they called me and I shouldn't have to ID myself for the bank to look into my account details - I don't want to know anything about my accounts.

So anyway,the point is the advice I got was only general. Basically, the CSR told me that no one was being changed yet and that they would ahve to give me 30 days notice before they could change the arrangements to do with my CC product. Basically, wait for the letter.

I had a similar call too - was told my comments were valuable and would be forwarded onto the right people. Sounded very rehersed so I doubt they really do care.


ANZ, if you're reading this - here's how to proceed:-

Give non-dormant cardholders the secondary card (amex) at no extra cost for a year. If they take up the 'offer' - the visa goes down to .5 points. If they don't take the offer, keep them on exactly the same earning rate they're currently on.

After a year, let the customer keep both cards for their *existing* yearly fee if they've made use of teh amex. If not - then impose new higher fees.

If you do this via the membership/billing year, then you will need to offer some greater value somewhere else. Everyone already has an amex and there's little reason to use the ANZ branded one when AMEX offers great incentives already... For example you could offer 10K QF points to take the secondary card if they pay the higher fee...

 

[cwliew]

Not sure if this has already been discussebut I received a letter from ANZ, saying that the points cap on my Rewards Visa Gold was going to be abolished and that the points earn will change to 1:1.
In addition, it said that the amount of points used to redeem will also increase, and as such, they were increasing my total points balance by 1.5x as of September 8th.
Now, if ANZ have an opt in, opt out arrangement for QFF, this might be suitable.
I would definitely look to doing this, rather than opening these dual card systems which to me, appear to be rather pointless, given that you should just get an Amex Platinum CC anyway - has more benefits! ie: Go for the ANZ card, without a cap, and the Amex Platinum. Sounds like a good plan to me. Any other ideas?

 

[Maca44]

The ANZ site states as follows:
Earning and enjoying your points - ANZ Frequent Flyer Rewards

ANZ Frequent Flyer American Express
Classic: 1 point* per $1 spent on purchases - uncapped
Gold: 1.25 points* per $1 spent on purchases – uncapped
Platinum 1.5 points* per $1 spent on purchases – uncapped

ANZ Frequent Flyer Visa
Classic: 1 point* per $2 spent on purchases – uncapped
Gold: 1 point* per $2 spent on purchases - uncapped
Platinum: 1 point* per $2 spent on purchases - uncapped

I believe the above earn rates are effective after October when the dual card system comes into play, and possibly for new applicants as the QF earn rate for existing FF Visa Gold card holders does not change until 1.2.10 and that is what the Rewards section at ANZ told me over a week ago.

 

[DontGetMeStarted]

Hi All

I am a little confused with this new product too, called the ANZ a few months ago and was told they would be sending a letter with auto upgrade to the new product. Called again today and they now say you have to apply. The new fee is $295 pa covers both cards but as I only paid $195 for the platinum card last year its quite a hefty jump. When I asked if I stayed with just my platinum card would the earning rate and fee stay the same they had to put me on hold to query, eventually came back and said that nothing would change if I just stayed with platinum and not upgrade. So presume my fee will be $195 on renewal and earn rate with points will be 1 per $1.00 spent up to $2500 (?) and then reduced amount after that, is that correct, does anyone know. I am not sure that for the extra $100 fee it would be worth the upgrade. Any other info would be great

 

[trippin_the_rift]

Hi All

I am a little confused with this new product too, called the ANZ a few months ago and was told they would be sending a letter with auto upgrade to the new product. Called again today and they now say you have to apply. The new fee is $295 pa covers both cards but as I only paid $195 for the platinum card last year its quite a hefty jump. When I asked if I stayed with just my platinum card would the earning rate and fee stay the same they had to put me on hold to query, eventually came back and said that nothing would change if I just stayed with platinum and not upgrade. So presume my fee will be $195 on renewal and earn rate with points will be 1 per $1.00 spent up to $2500 (?) and then reduced amount after that, is that correct, does anyone know. I am not sure that for the extra $100 fee it would be worth the upgrade. Any other info would be great

If you don't already have an amex and don't have cards with any other banks - then sure 100 bucks may be worth it to you.

Since everyone and their mother already has an AMEX, and most people have cards with multiple banks - I'd say it's not worth it.

If you want an amex, apply for one through amex - better deals - more incentives.

 

[DontGetMeStarted]

Have written an email anyway to ANZ complaining about the product and I did contact American Express direct as had a gold card with them fee free but have not used for many months, they are swapping me over fee free (forever they say) to an American Express Qantas card with 0.75 points per $1 spend..so will keep the Plat Card for the time being and up to renewal and see what ANZ say

 

[medhead]

Hi All

I am a little confused with this new product too, called the ANZ a few months ago and was told they would be sending a letter with auto upgrade to the new product. Called again today and they now say you have to apply. The new fee is $295 pa covers both cards but as I only paid $195 for the platinum card last year its quite a hefty jump. When I asked if I stayed with just my platinum card would the earning rate and fee stay the same they had to put me on hold to query, eventually came back and said that nothing would change if I just stayed with platinum and not upgrade. So presume my fee will be $195 on renewal and earn rate with points will be 1 per $1.00 spent up to $2500 (?) and then reduced amount after that, is that correct, does anyone know. I am not sure that for the extra $100 fee it would be worth the upgrade. Any other info would be great

The advice I had from them was that nothing will change until they send a letter to advise of the charges to terms and conditions. A couple of us here have also emailed ANZ and have been told that the appropriate part of ANZ are considering our input. Given the response you got today, I would guess that they might ahve originally decided to switch everyone but are now reconsidering that given the feedback received. So there is no harm in sticking with the existing card until they decide to change us onto the new card.

Of course, once they decide to switch there is nothing to be done (except cancel the card) as ANZ are have the right to change the terms at any time.

American Express direct as had a gold card with them fee free but have not used for many months, they are swapping me over fee free (forever they say) to an American Express Qantas card with 0.75 points per $1 spend.

Make sure you get the fee free bit in writing. The basic AMEX Qantas card earns 1 point per $. going up from there so you might need to double check that earning rate.

 

[jandj]

Received email today to open ANZ FF credit card account annual fee ($49) waived 1st year, earn 1 for $1 using Amex or 1 for $4 using Visa plus bonus 5000 bonus points on eligible (excluding cash and cash equivalent) purchase before 30/10/09.
OR
$95 annual fee, earn 1 for $1 using Amex or 1 for $2 using Visa plus 10000 bonus points on eligible purchase before 30/11/09.

 

[SnowYeti]

I had a bit of a whinge via email to ANZ also, haven't heard back yet. I will be cancelling if they force me onto the new one ...


I pay $195 for the plat ANZ visa, so I think 1:1 with max of 2,500 is pretty poor effort anyway ... having to pay $295 with a "free amex" is just :shock: when I already have more than 1 AMEX!

 

[DontGetMeStarted]

ANZ CS Officer just called me to put my mind at ease regarding my email as I sounded very confused !!...I told him it was his CS Department that was confused and kept giving different answers about the new product. He quite quickly disregarded that and said I would not be disadvantaged in any way with the new product and did not have to upgrade but then contradicted himself by saying that over the next 2 months letters would be going out to all card holders and everyone would be issued an Amex card, unfortunately he called my mobile and it kept breaking up but the gist was if I did not want the new product then I did not have to use it and my $195 would remain...I guess I will just have to get it in writing and then have another look...

 

[SnowYeti]

Got a letter today. To keep visa on same conditions (earn rate) and get AMEX for free.

If I wanted to upgrade to Points Booster ($295/yr), I would get 2.5 points per $1 for first 3 months then 1.5

If I don't change annual fee, I'll get 2.0 points per $1 for first 3 months then 1.5.

Come anniversary date next year, if they try to change my annual fee, then good bye ANZ ....

 

[taijee]

Received email today to open ANZ FF credit card account annual fee ($49) waived 1st year, earn 1 for $1 using Amex or 1 for $4 using Visa plus bonus 5000 bonus points on eligible (excluding cash and cash equivalent) purchase before 30/10/09.
OR
$95 annual fee, earn 1 for $1 using Amex or 1 for $2 using Visa plus 10000 bonus points on eligible purchase before 30/11/09.

i have received the same email too... and have now received my first statement after making an eligible purchase...

no extra FF point has been allocated to me, as well that no waiver for the annual fee...

the worst mistake that i have done was deleting the email and trusting the bank with its partners will do a legit job... however, reality failed me... (and i forgot if it was woollies or qantas that has sent me the email

anyone mind coping n paste that promotion offer please, i just need the fine print to have a lodge a proper complaint to anz

 

[jandj]

taijee, got me thinking, had a look at my bill just received (applied for the $95 ann. fee 10000 points promo) :
Ann fee $40 + 2nd card $10 + Reward program (2 cards) $110.= $160. which seems to be in line with that particular promo.
Wish I knew how to copy the promo material for you (am a computer illiterate), I note in my reading , it says in various places "you could" earn 5000 pts and "pay $0 ann. fee if you are a new AN FF customer"
In both the promos it notes the FF bonus points will be allocated within 3 months of card activation.

 

[taijee]

taijee, got me thinking, had a look at my bill just received (applied for the $95 ann. fee 10000 points promo) :
Ann fee $40 + 2nd card $10 + Reward program (2 cards) $110.= $160. which seems to be in line with that particular promo.
Wish I knew how to copy the promo material for you (am a computer illiterate), I note in my reading , it says in various places "you could" earn 5000 pts and "pay $0 ann. fee if you are a new AN FF customer"
In both the promos it notes the FF bonus points will be allocated within 3 months of card activation.

that's fine, i will chase it up with ANZ, thanks for your help...

i remember reading, about the free annual fee part, as well 1 point for every $4 on the visa and then an on-going fee of $49/year for primary account holiding. thats what i am more interested in, since i use amex most of the time anyways.