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

[Zorro]

Got my letter today for the Platinum CC - what's the general consensus with the offer? accept or dump CC and go elsewhere. I'm like many other posters - only have Visa CC as a backup to Amex when not accepted and want to maximise FF points to QF.

 

[melaus]

Zorro; Given a few days since my last post on the 28th Nov. I can't think of any other strategy other than what I thought then.
The suggestion of the "Earth Card" that medhead mentioned may be worth looking at. I don't know, this means establishing oneself with another bank if you think that it is worth it. Although according to one 'fairly' helpful chap that I spoke with at ANZ, he says the banks are being forced into these moves by Visa itself, so who knows how long the "Earth Card" will stay as it is?

At the end of the month I'm heading off on a 3 month trip overseas and will certainly be flashing the new AMEX at every merchant possible; Will be an interesting exercise!

I will report back here and I feel will have a story for ANZ on my return. I've had both AMEX and Diners over the last 20 - 30 years and see no point whatsoever in having either of them these days, but I like the points so have had to surrender this time.

ANZ have certainly been extremely shoddy in the way they have handled this with all of the various options they have applied to different customers.
Will they suffer in any way?...............................Probably not!

 

[trippin_the_rift]

Will they suffer in any way?...............................Probably not!

They will alienate customers with above average spend because these people already have REAL amex cards that offer better deals, cheaper rates and more points.

Will they attract mum and dads? Probably

Granted the Australian card market is mature and no bank is seeing any real subscriber growth; however when new products come to light that are seen as either excellent or poor value; this always has an immediate impact on cardholders/revenue.

As with the mobile market, once it becomes mature and there's no way left to grow the pie and it becomes about claiming as much land as you can - once you piss off a customer; you lose them for life - unlike in growing markets where choice is dictated by viral buzz and excitment to be part of something bigger.

Will they attract above average spenders? Maybe, for 3 months - then they can expect those spenders to shift quickly, because ANZ has not spend the time investing into the goodwill of these customers like other banks have done.

Think of the 3pts/$ as a sugar high. They get the high of being happy for a short time; only to spiral into a deeper low after this timeframe.

 

[medhead]

My stategy is to take the sugar high (bonus 1 point per dollar on the ANZ AMEX until 1 March) and then dump them, after 22 years as a customer.

The Earth platinum card I mentioned is basically the equivalent Westpac product, just it came out over a year ago (if not more). So I can't see it changing really as ANZ have been the late movers on this type of change.

 

[melaus]

Just a warning contained in the new "Conditions" if you take on the American Express offer.

If you decide to 'cancel' one of the cards, Visa or AMEX after agreeing to the new deal................... BOTH CARDS WILL BE CANCELLED (thus your account) will cease!

So there is no trial period or no "I'm not happy" afterward.

 

[trippin_the_rift]

Just a warning contained in the new "Conditions" if you take on the American Express offer.

If you decide to 'cancel' one of the cards, Visa or AMEX after agreeing to the new deal................... BOTH CARDS WILL BE CANCELLED (thus your account) will cease!

So there is no trial period or no "I'm not happy" afterward.

kinda screwed up, but an easy workaround.

Transfer to an ANZ first product, then back to whatever card you wish.

 

[zig]

Just a warning contained in the new "Conditions" if you take on the American Express offer.

If you decide to 'cancel' one of the cards, Visa or AMEX after agreeing to the new deal................... BOTH CARDS WILL BE CANCELLED (thus your account) will cease!

So there is no trial period or no "I'm not happy" afterward.

No problem, I'm happy to cancel both of the cards after the 3 month period. Have been an ANZ customer for many years with QFF Visa Card, but I won't be keeping it when they downgrade my earning capcity.

 

[Zia]

Hey
From what I know, Citi platinum still is offering a 1:1 deal so the last card is still out there
there is an annual cap 120,000 points though
Cheers

 

[medhead]

Thanks Zia

To everyone, my offer to switch my mortgage, by online feedback, was repsonded to by a request to phone them. This was about 2 weeks ago. I had a mobile mortgage person ring me yesterday. Seems they are not that keen for my business.

 

[melaus]

I think anyone will find that they have by now really dug their heels in with this matter.

They are now obviously well into the promotion if that's what one could call it.

Perhaps the only thing to be gained is to post the difficulties (and extra surcharges that you may incur) by using the new "unwelcome friend"
Perhaps with a printed log of this, it may demonstrate and catch someones eye in the organization that it was a foolish thing to do in the first place!

I can see a benefit in the 1.5 points per $ if you come up with an extra $100 per year, but that will probably depend on your card useage and how it spins off to the points which you may want.

 

[trippin_the_rift]

I can see a benefit in the 1.5 points per $ if you come up with an extra $100 per year, but that will probably depend on your card useage and how it spins off to the points which you may want.

How is it an extra 1.5 points per $? Everyone already has an AMEX... and if you don't, you are better off getting a real amex instead of a coughpy co-brand. This way you'll get access to the amex promos. ANZ won't give or offer you anything while you line their pockets spending big on their poor excuse for a premium card.

They are offering nothing more than the guy next door and demanding a premium at the same time.

Don't be fooled.

 

[melaus]

If you lock into this AMEX deal and at present have the ANZ Platinum, by paying an extra $100 bringing your total annual fee to $295, your points earning on the AMEX is 1.5 per dollar spent on that card on-going. Plus 1000 bonus points on your first AMEX spend.

Effective January 5, the points earning on the Platinum Visa reduces to .5 per dollar.

This is the situation with my account, but as we have learned throughout this thread, others have been offered different deals with different changeover dates.
Those with ANZ Gold Visa's have been offered different deals to the Platinum holders.

T_t_r, I think you have made the comment more than once on this thread that "Everybody already has an AMEX"
I think that's a fairly broad statement. I've had various cards over 40 or so years, including a couple of stabs at AMEX and Diners.
My main FF points earning is on cards and until this recent venture by ANZ, found that cost per ease of use with cards left AMEX and Diners way behind Visa.

I may be a tad sensitive about these bl__dy points as I lost near half a mill with the Ansett crash.....................My own fault, I should have been using them more regularly, a lesson perhaps that may still be applicable.

Who knows the next little nasty that may be around the corner to make this whole FF business a "Pain_I_T_A".

 

[WindowSeat]

I hope this hasn't been covered elsewhere (I have looked on the forum but forgive me if I've missed it), but there's obviously the offer for new ANZ FF accounts to get 10,000 points so it made me wonder what existing members get.

Anyway I just called to activate my ANZ FF Amex (I already had the ANZ FF Visa) and was told that it's 2 points per $1 until May 1st on the Amex. I hadn't seen this anywhere in any of the online gaff so this was a surprise. Has anyone else seen this advertised anywhere or are they keeping it as a nice surprise in return for generally screwing up the earn rate on the Visa?

My annual fee is due in August and so I'm not convinced yet that I won't move to a Citibusiness Gold Visa, but thought I may as well give the ANZ Amex a go first.

 

[Blackadder]

Correct, 2 points per $1 spend on the Amex FF until May 1st.
That said I some how picked up 17,000 odd points on my last statement when the only major spend was my Y+ rtn SYD-LAX-SYD (not that I am complaining)

 

[serfty]

Correct, 2 points per $1 spend on the Amex FF until May 1st.
That said I some how picked up 17,000 odd points on my last statement when the only major spend was my Y+ rtn SYD-LAX-SYD (not that I am complaining)

The Qantas ANZ cards have a bonus point per $ on selected Qantas products. Online airfare purchases using www.qantas.com.au generally qualify.

 

[ric_melb]

Well after 20 years of holding an ANZ card I cancelled mine last month. I advised them that their changes did not suit me as I wanted a Visa card with one point per dollar, not half a point.
They did try to get me to stay by offering to waive the next year's fee, and give me 2500 points bonus, but in the end I saw no point in keeping a card I would not use.
In addition I closed my savings account with them, after 40 years!
No happy with their changes as you can see.

 

[Keith009]

I'm in 2 minds about mine. I do want some sort of points earning VISA, ideally 1:1. It hardly seems worth it paying for Citibank Platinum when I'll be putting through most transactions through AMEX.

 

[ksthommo]

I also wasn't happy with the ANZ Visa FF Changes. Rang them up, no offers no nothing. Canned the card and went to Citibank Business Visa who had a 5000 point bonus. You earn $1 = 1.25 points. All up $130 pa for mine and the wifes card. Transferred 10,000 points 3 days back, into the Qantas Account yesterday.

Use the Qantas Amex for flight purchases.

 

[medhead]

I'm in 2 minds about mine. I do want some sort of points earning VISA, ideally 1:1. It hardly seems worth it paying for Citibank Platinum when I'll be putting through most transactions through AMEX.

I going with the NAB gold visa which earns 0.66 points per dollar. So I have not trouble with cancelling the ANZ card when the intro 2.25 points per dollar on the AMEX ends on 28 March

 

[AviationNZ]

I going with the NAB gold visa which earns 0.66 points per dollar.

I'll be doing the same. The NAB Gold card also comes with travel insurance too which the ANZ gold doesn't.