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

[Keith009]

Hmm, with the launch of dual AMEX/VISA or Mastercard accounts by ANZ and CBA, there goes my plan to get a 1:1 VI or MC. OTOH, hopefully this encourages more merchants to accept AMEX without surcharge.

 

[NM]

OTOH, hopefully this encourages more merchants to accept AMEX without surcharge.

I think it will have the opposite effect. If the merchant knows that all CBA Amex customers also have a CBA Visa or MC in their possession, why would they want to process the Amex card and incur the higher merchant fees? If I was a merchant, this would show me that there is no need for me to offer Amex as many of my customers have both Amex and Visa/MC.

The whole reason the banks are dual-branding with Amex is to try to lock you (the customer) into their brand and not have you carry one of theirs (say Visa) and one of someone else's (say Amex). Its all about locking in the customer. Once locked into their brand, they don't care which card you use. Use Amex and they get a bigger merchant fee but pay more in point. Use Visa/MC and they get a lower fee but pay less points. Either way the winner is the bank. The merchants will pick this up quickly and decide if there is value to them to accept both.

 

[BlueAU]

I received my AMEX dual card and did not activate it, as I don't want to be subject to the $295 fee next year ... :shock:

 

[trippin_the_rift]

I received my AMEX dual card and did not activate it, as I don't want to be subject to the $295 fee next year ... :shock:

the upgrade form says..... (the extra box u had to tick) that if you want the points booster, you pay $295/yr and if you don't then you only pay $195, but the amex earn rate will only be 1:1

..... at least thats how I read it

 

[Harpoon]

I read through all the pages in this thread after discovering things would be chaning on my Gold Visa soon.

I emailed ANZ and politely told them I would be taking my business elsewhere if they reduce my earn rate under $2500 to $1 to 0.5 on Visa. I also explained that I do not need ANOTHER Amex card

I wonder what response I'll get, since many of you had varying responses from CS.

 

[notzac]

cough.

I got a letter in the mail today, from our good friends at ANZ consumer cards. It's a bunch of marketing fluff about how wonderful an ANZ FF AmEx would be for me, with the following nastygram hidden on the second page:

Please note that even if you do not choose to accept your new ANZ Frequent Flyer American Express card, your ANZ Frequent Flyer Visa card points-earning rate will be reduced as described overleaf on 28 December 2009.

Seriously annoyed, especially seeing as I paid the annual fee in June. Tempted to call and ask for a refund of that tomorrow.

 

[BlueAU]

Seriously annoyed, especially seeing as I paid the annual fee in June. Tempted to call and ask for a refund of that tomorrow.

Is yours Plat notzac? I cannot find this clause on the letter I got .... mine is ANZ QF Plat

 

[notzac]

Is yours Plat notzac? I cannot find this clause on the letter I got .... mine is ANZ QF Plat

Nope - just the regular one, whatever ANZ call that now.

The only 1:1 earning card that I'm aware of now is the Citibank card ... and I'm not so keen to deal with them. I suspect it might be time to move all my spending across to the AmEx and move to one of the non-points earning cards for backup. :-/

 

[BlueAU]

Nope - just the regular one, whatever ANZ call that now.

The only 1:1 earning card that I'm aware of now is the Citibank card ... and I'm not so keen to deal with them. I suspect it might be time to move all my spending across to the AmEx and move to one of the non-points earning cards for backup. :-/

At least you are not stung with a $295 fee :!: I try to use AMEX for everything.

Still tend to rack up $2k each month of places that do not accept AMEX or have hideous surcharges

 

[Flashback]

cough.

I got a letter in the mail today, from our good friends at ANZ consumer cards. It's a bunch of marketing fluff about how wonderful an ANZ FF AmEx would be for me, with the following nastygram hidden on the second page:



Seriously annoyed, especially seeing as I paid the annual fee in June. Tempted to call and ask for a refund of that tomorrow.

Good luck with the refund ... when I tried to seek one after cancelling my card 1 month into the year due to a dispute with them, I had no luck.

 

[bestcard]

The new CBA cards beat the ANZ cards in terms of what you earn

3 to $1 for AMEX and 1 to $1 for Mastercard for platinum

the only issue is there is a points cap of 150,000

 

[Diesellife]

The new CBA cards beat the ANZ cards in terms of what you earn

3 to $1 for AMEX and 1 to $1 for Mastercard for platinum

the only issue is there is a points cap of 150,000

No. The earn rate is the same...for QFF that is...
Because in Feb 2010, the conversion rate will change and requires 2 CBA points per 1 QFF.

So ANZ one is still better, at least its uncapped

 

[bestcard]

No. The earn rate is the same...for QFF that is...
Because in Feb 2010, the conversion rate will change and requires 2 CBA points per 1 QFF.

So ANZ one is still better, at least its uncapped

No - that's incorrect - until feb 2010:

"Earn 3 Awards points for every dollar you spend on your Commonwealth Bank Platinum" and
"Redeem 1 Awards points for 1 Qantas Frequent Flyer point or 1 Velocity Point."

As of 1 Feb 2010 it will change from 2 points to 1 QFF - still gives you plently of time to double your points.

Agree that the points cap is a pain, but it's douible points over xmas spending

 

[Diesellife]

Depends if the additional 280 annual fee + credit check is worth it... for the bonus points for 3 months.

Although saying that, don't get me wrong... I'm with CBA, Amex and nab atm. Will definitely enjoy the bonus for those 3 months... But for other people who do not have CBA cards, they need to justify the cause... E.g. spend well beyond the cost as mentioned above... coz the ANZ one will be better in the long run. (Based on two cards basis)

 

[notzac]

Good luck with the refund ... when I tried to seek one after cancelling my card 1 month into the year due to a dispute with them, I had no luck.

They've mentioned I'll be eligible for a pro-rata refund if I change to a different card product with ANZ, which isn't entirely unreasonable.

Now, I'm trying to work out what the loss of QFF points is actually worth. I only use it if I absolutely can't use the AmEx, so I would only earn approximately 4-5000 QFF points a year after taking in to account the new earn rate. Is that worth the $90 annual fee?

I know that everyone values points differently, but let's say if you value QFF points at $0.02, 5000 points is worth $100 - so it would make sense to keep the card. I generally try to save the points for long haul redemption or upgrade, as it seems to be the best value use of the points. Should I value them more or less than $0.02?

 

[bestcard]

Depends if the additional 280 annual fee + credit check is worth it... for the bonus points for 3 months.

Although saying that, don't get me wrong... I'm with CBA, Amex and nab atm. Will definitely enjoy the bonus for those 3 months... But for other people who do not have CBA cards, they need to justify the cause... E.g. spend well beyond the cost as mentioned above... coz the ANZ one will be better in the long run. (Based on two cards basis)

Very true - What really annoys me is the fact CBA have hidden this in the small print. Another sneaky trick by the bank....or maybe just a screw up by their marketing team

whatever the reason a lot of people will get caught out by this as I've seen a few press articles quoting '3 points per $1'

 

[medhead]

Well got my ANZ letter re the AMEX today. O the gold card. If I take up the AMEX by end of November, I get 2 poionts per $ for 3 months. Also Visa earning rate is cut on 28 December.

Is double points for a few months worth it?

Overall, I'm planning to move out of direct QF earn to membership rewards. So replace my Westpac Plat and ANZ cards and AMEX QF card with AMEX plat credit card. So I'm probably going to kill the Westpac, use the double points with ANZ for 3 months, then kill that, and upgrade the AMEX QF card to AMEX plat. I'll keep my NAB gold for backup - free in a package.

Ohh and the NAB gold visa has better earning than teh ANZ at 3 points per $2

 

[Maca44]

Ohh and the NAB gold visa has better earning than teh ANZ at 3 points per $2

Medhead, this is only for interest but I looked up the NAB site and the only problem I noticed is that the the earn rate for the NAB Qantas American Express Card, the NAB Qantas Visa Card and the NAB Qantas Mastercard is capped at $10K per months on all cards, and I am aware that a lot of people would not go over that amount per month.

For the first $3K on the cards you earn 2 points per $2 with the Amex, and 2 points per $3 with both the Visa and Mastercard.

For the next $7K spend up to $10K (per month) you earn one point per $2 with the Amex and one point per $3 with the Visa and M'card.

After you have reached $10K on the any of the above cards per month your QFFF earn rate drops to nil on all cards.
NAB - NAB Qantas Gold Credit Card

The bottom line is that it doesn't seem to matter which card you use the banks have us by the throat, and it will only get worse with time. There would appear to be very little difference now with any of the cards available, and there is definitely no such thing as loyalty offered any more by the banks or by the consumer for that matter.

 

[MAX_1]

My spend right now is approx $500,000 pa.I do not charge any purchase that wants to add an extra charge.
Approx $120,000 goes to Amex (1:1 earn rate) leaving $380,000.
I have CBA Plat Visa and M/Card and they are now at max spend of $150,000 each leaving me with about $80,000 spend that does not earn any points.

Now for next year.I am looking for a 1:1 earning Visa/Mastercard and will change my Amex Gold to Plat for the increase in earning to 1.5:1.

Any other suggestions?

 

[medhead]

Medhead, this is only for interest but I looked up the NAB site and the only problem I noticed is that the the earn rate for the NAB Qantas American Express Card, the NAB Qantas Visa Card and the NAB Qantas Mastercard is capped at $10K per months on all cards, and I am aware that a lot of people would not go over that amount per month.

Yes very true the limits are there. Fortunately, for me, I only need a backup visa in the range of $2000 to $3000 per month. The NAB visa will have better points earn than ANZ after December. So NAB suits my needs and I can't see any reason to keep paying the annual fee for the ANZ.