ANZ QFF card earn rates enhanced™

[carltonman]

Don't waste your time with it. I love how they told you to "3) Do an on-line enquiry if the bonus points do not show up." There is no option. In the end they told me to FAX or post them a letter to chase up missing points.

I had to go through the whole complaints department to get my missing points sorted. They finally gave me my missing points as a "good will gesture" and said once their systems were properly working they would also process the pending points. A few days later they posted the missing points in a lump sum and just cleared all my pending points without awarding those as promised. I gave up on the whole thing and have decided to close all my ANZ accounts.

Thanks for that Jbman,
Sorry to hear about the poor way ANZ treated you.
In my original post, I basically had to ring twice to the ANZ rewards call centre.
I tried to put it in simple terms of what happens to a pending transaction when full payment can be made after the AMEX separation in August.
As some one else on this thread mentioned, the call centre staff are pretty clueless and had to seek clarification numerous times.

Once again many thanks

Carltonman

 

[jbman]

Off topic I know, but my experience with most call centres for any product or service, is usually that the staff don't have a clue about anything. You are only meant to ask certain questions, so that they can read the canned answer shown on their screen. Asking questions outside of that just sends the whole operation into chaos.

Clearly the ANZ staff don't believe in their products or have them for themselves which says a lot about the products on offer.

 

[carltonman]

I'm not sure that the ANZ bonus points mall is the best value if you're after velocity points...

You might want to do a search around here and look at the velocity estore which works the same way but offers actual velocity points at a higher rate. Ie if they are offering ten points it will be 10 VFF whereas with ANZ it is only ANZ points which you have to convert, leaving you with a lower actual VFF earn rate...

Good luck resolving your existing booking conund

Thanks for that Greenfrog86,
At the moment, most (pretty much all) of Velocity e-store is 2VFF, whereas in the ANZ store if its 4 ANZ rewards (2VFF) or more then ANZ store is better for me.
4 ANZ rewards is equivalent to 2 VFF, but In this case ANZ has the slight edge as i can take advantage of the bonus 15% or 25% points upon transfer that normally occurs twice a year.
Only issue with ANZ is that they do not award bonus points to store gift cards purchases.
However with Velocity I can get a TEDs photography gift voucher and get bonus points. (I haven't tried it but it within the terms and conditions)
The other nice thing with the ANZ e-store is that I currently have the mishapresention of waiting for all of the happy attractive models to show up my door step and be rewarded lol.
Cheers

Carltonman

 

[JB expat]

I received "the letter" today. I am now trying to figure out what to do re: points maximization on my cc's. We spend a lot each month on cards (much more than the $7,500 cut off where earning drops to .5 points) and I use my AMEX where ever I can (without penalty in the form of a % of purchase prices). I'm relatively new to ANZ black as I was with Qantas Ultimate AmEx for the $495/year fee - which I had justified for the travel insurance coverage (I never managed to use the free ticket). But when I learned I could get the ANZ black VISA/AMEX package for free because I bank with ANZ and have the type of account where it is a free benefit, I opted to cancel the Ultimate and go with the black card package (I think it was free - or significantly less than what I was paying for Ultimate card). Note - shortly after the switch, I developed a medical condition the result of which that I cannot rely on a card's medical coverage due to this now pre-existing condition unless i jump through hoops beforehand (and I haven't yet tried that so even consulting with the carrier in advance and paying an extra insurance premium may not have worked).

Bottomline question - we spend a lot of money on cc each year - I have racked up a significant number of points that when added to my points earned by my business travel result in a nice number to have in the FF account (we use them for upgrades on personal overseas trips). What is my best option to replace the AMEX? I am not sure that I'm willing to go back to a $495 fee given I just don't seem to use that single domestic capital city RT ticket. Ideas or discussions I should look at?

 

[Nutcase]

I received "the letter" today. I am now trying to figure out what to do re: points maximization on my cc's. We spend a lot each month on cards (much more than the $7,500 cut off where earning drops to .5 points) and I use my AMEX where ever I can (without penalty in the form of a % of purchase prices). I'm relatively new to ANZ black as I was with Qantas Ultimate AmEx for the $495/year fee - which I had justified for the travel insurance coverage (I never managed to use the free ticket). But when I learned I could get the ANZ black VISA/AMEX package for free because I bank with ANZ and have the type of account where it is a free benefit, I opted to cancel the Ultimate and go with the black card package (I think it was free - or significantly less than what I was paying for Ultimate card). Note - shortly after the switch, I developed a medical condition the result of which that I cannot rely on a card's medical coverage due to this now pre-existing condition unless i jump through hoops beforehand (and I haven't yet tried that so even consulting with the carrier in advance and paying an extra insurance premium may not have worked).

Bottomline question - we spend a lot of money on cc each year - I have racked up a significant number of points that when added to my points earned by my business travel result in a nice number to have in the FF account (we use them for upgrades on personal overseas trips). What is my best option to replace the AMEX? I am not sure that I'm willing to go back to a $495 fee given I just don't seem to use that single domestic capital city RT ticket. Ideas or discussions I should look at?

You need to give up on QF points on Visa and Mastercard being of any more value than the annual fee. EG: ANZ have priced their cards at a level that covers the maximum amount of points you can earn.

All banks have the same revenue and cost models in their cards businesses so expect the same outcome from all Banks that issue QF rewards cards.

Stick to AMEX and Diners for QF rewards and leave Visa and Mastercard alone.

 

[JB expat]

Stick to AMEX and Diners for QF rewards and leave Visa and Mastercard alone.

but which AmEx option? I guess that's my bottom line question.

 

[Musongman]

I received my new validity updated ANZ FF Amex and Visa today, with no mention of any horrors?

 

[NM]

well, while everyone has noted the sky is falling and discussing jumping ship, I am bucking the trend. I have not been an ANZ CC customer for many years (probably about 10) and took the opportunity to apply for the ANZ FF Black Card. The offer of first year free, 75K QFF points and 1:1 earn up to $7500 per month was attractive to me. If the WOW Visa is not offered fee-free at anniversary (as others have been reporting) then that card gets dropped as the $2500 spend for 1:1 earning is limiting. I have two cards with 2500 points limit at 1:1, so better to have a single card with 7500 per month earning than 2 x 2500.

I am not concerned about the Amex because I already have Plat Edge Amex earning me 3:1 for supermarket spend and use that almost exclusively for Wish cards for groceries, fuel, booze etc. I am not paying ATO bills etc, so not concerned with restrictions on ATO or similar spend.

So I'll take it for 12 months, then see what happens regarding annual fee to determine if I keep it or move on to another offer next year. By then I should have earned over 130K QFF points.

 

[opusman]

So I'll take it for 12 months, then see what happens regarding annual fee to determine if I keep it or move on to another offer next year. By then I should have earned over 130K QFF points.

The first year is of course a no brainer, because it's free and you get the 75K bonus points. Year 2, at $425 for 55K points - not such a good deal.

 

[NM]

The first year is of course a no brainer, because it's free and you get the 75K bonus points. Year 2, at $425 for 55K points - not such a good deal.

Yes, indeed. So if no movement on the fee next year, I go looking for another option. Its a moving target, as always. We need to play the game as much as the banks play us.

 

[Nutcase]

Yes, indeed. So if no movement on the fee next year, I go looking for another option. Its a moving target, as always. We need to play the game as much as the banks play us.

Your best strategy is to get the sign on bonuses while you can and NOT pay an annual fee and then dump the card.

Rumours abound about the future of scheme (Visa and MC) cards rewards. The latest is that WBC will drop AMEX and instead, AMEX will issue w WBC branded card. AMEX will carry the credit risk and WBC will get a cut. The RBA wont like it.

My NAB contacts tell me that they will gut the QFF points paid to $1 = 0.30 points on scheme cards and dump AMEX.

CBA is remaining mute.

Citi is talking directly to QF loyalty about issuing a card which MAY be Diners.

 

[NM]

Your best strategy is to get the sign on bonuses while you can and NOT pay an annual fee and then dump the card.

I have no intentions of dumping the card until this time next year, and then only if I believe the annual fee I am asked to pay at time is poor value. I will give them an opportunity offer a waiver or reduction and then assess my personal situation based on other options available to me at that time. We all know the landscape is moving so I will delay any actions that do not require immediate attention until the lay of the land is known.

The 1:1 earn ration for up to $7500 per month suits me nicely right now and is something I intend to use to my advantage.

 

[Nutcase]

I have no intentions of dumping the card until this time next year, and then only if I believe the annual fee I am asked to pay at time is poor value. I will give them an opportunity offer a waiver or reduction and then assess my personal situation based on other options available to me at that time. We all know the landscape is moving so I will delay any actions that do not require immediate attention until the lay of the land is known.

The 1:1 earn ration for up to $7500 per month suits me nicely right now and is something I intend to use to my advantage.

Thats pretty much what I suggested and the main feature of the product.

 

[Jacques Vert]

Re: ANZ QFF/Rewards card earn rates enhanced™

$150/yr fine; $425/yr, not so much.

And if you add on one additional card fee, $425 + 65 = $490!

I'll keep it if they waive the fee, not likely but who knows.

 

[coriander]

Re: ANZ QFF/Rewards card earn rates enhanced™

Late to the conversation as I've been away OS and haven't read all the threads in all the forums here..... (just spotted this thread in What's New).

I usually put through about $30k per month on ANZ Black Amex (don't use their Visa) so am in shock at the upcoming enhancement. A $7.5k pm cap on points on Visa is of no interest to me so whilst I'll wait and see what other banks are doing, I'll probably cancel when my renewal date comes up in July. Looks like it'll be time to look at direct Amex cards (I have had both an Amex rewards card for about 20 years, but mainly use it as a back up card and a free (professional association) Diners Club which likewise isn't used much).

Still, I have 3-4 months to assess my options.

$425pa for 90,000 points at 1:1 doesn't seem like good value.

 

[hunghuynh]

Re: ANZ QFF/Rewards card earn rates enhanced™

I'm about to dump my ANZ qff platinum due to ANZ dropping the Amex is there any recommendations for a an alternative and does anyone know if the other banks will be dropping the Amex as well?

 

[Nutcase]

Re: ANZ QFF/Rewards card earn rates enhanced™

I'm about to dump my ANZ qff platinum due to ANZ dropping the Amex is there any recommendations for a an alternative and does anyone know if the other banks will be dropping the Amex as well?

Wait until the RBA changes kick in before you make a decision. June 30 is the deadline. Given that all banks pay the same amount for QFF points, have the same revenue and cots drivers expect the products to move in lock step.

Citi and Qantas are in talks to launch an exclusive card

 

[Nutcase]

Re: ANZ QFF/Rewards card earn rates enhanced™

I'm about to dump my ANZ qff platinum due to ANZ dropping the Amex is there any recommendations for a an alternative and does anyone know if the other banks will be dropping the Amex as well?

Given that AMEX companion cards are subject to the RBA changes, there is no need for the Banks to keep the cards and therefore all are currently under review.

WBC were rumoured to be looking at having AMEX issue a cobranded card with the WBC logo on it and AMEX carrying the credit risk and owning the customer relationship in order to get around the RBA changes however its not clear yet if they will proceed. Westpac would get a clip on the transactions under that model but the RBA would not be impressed.

It is expected that CBA and NAB will dump AMEX.

Best advice is to wait until 30 June gets closer. With that said, a proprietary AMEX would seem prudent right now.

Qantas cash has already moved to 1 point for a $4 domestic spend which would indicate where standard QF Scheme cards would now sit. In other words, not worth it.

 

[BacchusMarsh]

Re: ANZ QFF/Rewards card earn rates enhanced™

Given that AMEX companion cards are subject to the RBA changes, there is no need for the Banks to keep the cards and therefore all are currently under review.

WBC were rumoured to be looking at having AMEX issue a cobranded card with the WBC logo on it and AMEX carrying the credit risk and owning the customer relationship in order to get around the RBA changes however its not clear yet if they will proceed. Westpac would get a clip on the transactions under that model but the RBA would not be impressed.

It is expected that CBA and NAB will dump AMEX.

Best advice is to wait until 30 June gets closer. With that said, a proprietary AMEX would seem prudent right now.

Qantas cash has already moved to 1 point for a $4 domestic spend which would indicate where standard QF Scheme cards would now sit. In other words, not worth it.

Say that "wholesale" thing again, dude. It's almost as funny as when harvyk says "whom".

 

[Nutcase]

Re: ANZ QFF/Rewards card earn rates enhanced™

Say that "wholesale" thing again, dude. It's almost as funny as when harvyk says "whom".

Grammar is hard