Hi all
I signed up and was approved for a ANZ Frequent Flyer credit card a few weeks ago. I have paid $1500+ bills through the card and am just waiting on the credit of my 50,000 points.
I hadn't noticed before but ANZ also has a separate offer for 50,000 rewards points (as opposed to ff points). You can exchange these points for points in a number of programs but the exchange rate is less than 1 to 1. I had seen the offer before but disregarded it as the exchange rate was not so high.
However since then I've researched a bit more and discovered the Oneworld 140,000 qantas points award. If you use Cathay for a leg you can upgrade that leg using Asia miles. And you can exchange ANZ rewards fro Asia miles.
Also the ANZ rewards offer costs nothing for the first year (assuming you cancel before the first year is up). I found I could exchange 50,000 anz rewards for 25,000 asia miles. 30,000 miles can be exchanged for an upgrade from economy to business for a one way flight up to 5000 miles long or 40,000 miles can get an upgrade for a flight up to 7,500 miles long. So with just a few extra miles i should be able to upgrade one of the legs on a round the world trip. With a bit of expenditure on the card it should not be too difficult to get enough reward points to make up the difference. And the total cost - $0.
I applied today for the minimum $1,000 credit limit and got approval straight away. Hopefuly I'll get the extra 50,000 rewards points bonus.