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Up to 180,000 extra ANZ Reward Points + $100 back with the ANZ Rewards Black credit card

Card Overview

ANZ is offering up to 180,000 extra ANZ Reward Points (130,000 pts + $100 back when you spend $5,000 in the first 3 months from approval & 50,000 pts when card is kept for 15 months from activation) for new cardholders of the ANZ Rewards Black credit card. Includes complimentary insurance plus Apple Pay and Google Pay support.

Key Attributes

Ensure if applying for an offer, you don’t currently hold and haven’t held an ANZ Frequent Flyer or ANZ Rewards credit card in the last 24 months and meet all other offer eligibility criteria.

ANZ is offering up to 180,000 extra ANZ Reward Points plus $100 back for new cardholders of the ANZ Rewards Black credit card. This guide covers the earn rates, caps and benefits of the ANZ Rewards Black credit card.

The bonus is split into two batches, receive 130,000 extra Reward Points and $100 back to your new card when you spend $5,000 or more on eligible purchases within the first 3 months of approval, and an additional 50,000 Reward Points when you keep your card for over 15 months from activation. Eligible purchases cover most transactions, with the normal exclusions of fees, cash, cash equivalent transactions, balance transfers and transactions for gambling or gaming.

New card. T&Cs, eligibility and spend criteria, fees & charges apply (including annual fee currently $375 p.a. ongoing). Note that bonus points won’t be awarded to those who have held (or still hold) an ANZ Rewards or ANZ Frequent Flyer credit card in the last 24 months.

The 180,000 extra ANZ Reward Points can get you $800 in eGift Card from Bunnings, Woolworths, Myer, JB HiFi, Coles or Kmart.

You may also opt to convert the points into Velocity Points at a 2:1 ratio, or to KrisFlyer miles or Asia Miles at a 3:1 ratio, which means the current bonus point offer is equivalent to 90,000 Velocity Points or 60,000 KrisFlyer miles or Asia Miles.

Digging into the details of the ANZ Rewards Black credit card

The ANZ Rewards Black credit card earns ANZ Reward Points, which is ANZ’s own rewards program. We like flexible points programs here at Point Hacks — it allows you to earn points in a single program with the ability to move them to a partner program of choice (such as Velocity or KrisFlyer) at a later date.

The ratio is 2:1 if you opt to convert your ANZ Reward Points to Velocity Points.

Card ANZ Rewards Black
Loyalty program ANZ Rewards
Points earned from spend 2 Reward Points per $1 spent on eligible purchases up to $5,000 per statement period,

then 1 Reward Point per $1 spent on eligible purchases above $5,000 per statement period
Included insurances International Travel Insurance,

Domestic Travel Insurance,

Rental Vehicle Excess in Australia Insurance,

Purchase Protection Insurance and

Extended Warranty Insurance

(PDS)
Overseas transaction fee 3.5% of the converted amount
Mobile wallet Apple Pay, Google Pay, Samsung Pay, Fitbit Pay and Garmin Pay
Purchase rate 20.99%
Cash advance rate 21.99%
Interest Free days on purchases Up to 44 days
Annual fee $375 p.a. ongoing

With the ANZ Black Rewards, you’ll earn:

In simpler terms, here’s the equivalent number of frequent flyer miles you could earn for every dollar spent on eligible purchases (when you are still under the $5,000/statement period threshold):

This is what we call the ‘effective earn rate’ — what you would effectively earn from your spend after your ANZ Reward Points have been transferred over to the partner frequent flyer program. Note that minimum points transfer amounts apply.

What are the benefits of the ANZ Rewards Black credit card?

As a top-tier product, the ANZ Rewards Black credit card includes a number of complimentary insurances including:

These insurances are usually found in higher-tiered cards and will come in handy for both frequent flyers and frequent buyers alike. Click the link to read the PDS.

This guide references some of the benefits of insurance policies provided with this card. You should read the PDS and obtain independent professional advice before obtaining this product.

Apple Pay, Google Pay and Samsung Pay support with ANZ

ANZ cards support Apple Pay, Google Pay and Samsung Pay, meaning you can use their cards on your smartphone for easier payments. Find out more in our guides for each of the compatible services.

Card eligibility criteria

These are the minimum requirements to be eligible to apply for this Card. Other additional eligibility criteria, such as proof of income, will generally be required later on.

Frequently Asked Questions

How do I redeem my ANZ Reward Points?

ANZ Reward Points can be used for merchandise or gift cards. However, a better option may be to transfer it to an airline frequent flyer program. Read more here.

What are ANZ Reward Points worth?

We tentatively value each ANZ Reward Point at 0.8 cents each. Its actual value will depend on what you ultimately use the points for.

How do I check my ANZ Reward Points balance?

Access your ANZ Rewards account via the ANZ App or ANZ Internet Banking.

What are ANZ eligible purchases?

Some transactions and other items are not eligible to earn ANZ Rewards Points. Please refer to the ANZ Rewards – Rewards Program Terms and Conditions booklet for details.

Summing up: ANZ Rewards Black credit card

The ANZ Rewards Black credit card offers a compelling effective earn rate of Velocity Points, KrisFlyer miles, Asia Miles and Air New Zealand Airpoints. It’s also competitive against other cards in the market at this level.

Note that ANZ Reward Points do expire — points must be used to claim a reward three years after the end of the year in which the points were earned, or they will be cancelled.

With a program like ANZ Rewards, the key benefit is in the additional options that having many program transfer partners on offer gives when it comes to redeem your hard-earned points. It does make managing your points a little more time-consuming as you have to factor that into your travel plans.

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Community Comments
  1. Newton says: December 20, 2023 at 8:37 pm

    Does anyone know if there is any benefit for a second card holder? Like insurance or lounge if is travelling without the first holder

    Reply
  2. Steve says: October 25, 2023 at 12:41 pm

    I see that there is no minimum income requirement for these cards. The black cards with other providers specify $75k and $30k for the Platinum cards.

    Is this important when determining which card to apply for? Thanks

    Reply
    1. Chris Chamberlin says: October 25, 2023 at 4:18 pm

      Hi Steve, thank you for your question, but we’re unable to offer readers personal financial advice, which includes weighing in on the importance of one card feature over another in determining the suitability of any particular credit product. We are instead able to publish ‘general factual information’, which merely involves communicating and commentating on standard product features in a factual way – for instance, communicating any minimum income requirement to apply. Sorry we can’t be of more assistance in this regard.

      Reply
  3. Vin says: February 3, 2022 at 3:36 pm

    Hi there, long time reader here but this is my first post.

    If I applied for the card when the bonus points was 180K but only was approved for the card when the bonus points changed to 80K, how many bonus points should I expect? 180K vs 80K?

    Thank you

    Reply
    1. Brandon Loo says: February 3, 2022 at 4:24 pm

      Hi Vin, if you applied for the card when it was 180k points, then you should be getting that. It’s best to call up ANZ just to be sure.

      Reply
  4. Austin says: February 2, 2022 at 5:06 pm

    this card used to offer 180000 bonus points and now it shows only 80000. I believe this recently changed. I activated my card 3 days ago and now I am not sure how many points i am going to get

    Reply
    1. Brandon Loo says: February 2, 2022 at 9:34 pm

      Hi Austin, if you applied and was approved for the card when it was 180k points, then that’s what you should expect.

      Reply
  5. Austin says: January 9, 2022 at 3:46 pm

    I did find the link to apply in a different article. For ANZ, do you think rewards black is the most rewarding card at the moment?

    Reply
  6. Austin says: January 9, 2022 at 3:42 pm

    Do you have a link through which I can apply for this card so that you get your well-deserved commission?

    Reply
  7. Ray says: December 21, 2021 at 4:16 pm

    Agree, I have never felt more insulted and treated like a criminal with the way they ‘questioned’ me on my income slips and job contract. I have requested to withdraw my credit application with ANZ twice, all due to their incompetent call operators.

    I have held cards with Westpac, NAB, Commbank, AMEX, St George and never treated the way ANZ has treated me before.

    Reply
  8. Sean says: November 18, 2021 at 12:43 pm

    I applied for this offer and found the overseas call centre workers who called to verify ID and Income to be absolutely useless, just as I see others have made similar comments on.

    With a solid income and excellent Credit Score I was shocked to be declined as this has never happened before, I strongly believe it was down to the sheer incompetence of the operator. incorrectly recording my data.

    I applied for a St George card later that month and had no problems, in fact I’ve just received the bonus points too – Great onshore customer service on the 2 occasions I have need to contact St George.

    ANZ really need to take a good look at their appalling customer experience and change their call centre team imho.

    Reply
  9. Ron says: June 12, 2021 at 10:23 pm

    it says “Ensure if applying for an offer, you don’t currently hold and haven’t opened or closed an ANZ Rewards Black, ANZ Rewards Platinum or an ANZ Rewards credit card in the last 12 months and meet all other offer eligibility criteria.”

    I held ANZ Frequent Flyer Platinum (Qantas) which I just cancelled, am I eligible for this?

    Reply
    1. Brandon Loo says: June 14, 2021 at 11:08 am

      Hi Ron, the ‘Frequent Flyer’ range of cards won’t exclude you from the ‘Rewards’ range sign-up bonus and vice versa.

      Reply
  10. William says: May 15, 2021 at 1:25 am

    Hi, I did applied this ANZ reward black card through the link and get approved. Now, they told me because I’m holding the ANZ travel Adventure card so I’m not eligible for this offer….

    But in the comments your guys mentioned it in different categories so still eligible…..

    Please can someone give me help on this ?

    Thank you!

    Reply
    1. Brandon Loo says: May 17, 2021 at 9:19 am

      Hi William, I will follow this up with the team. We will most likely be in contact with you via the supplied email address on your account.

      Reply
  11. Samson says: May 12, 2021 at 11:55 am

    Anyone else apply for this card and find ANZ to be 100% hopeless? I would not have thought it possible, but these guys are making even Citibank look competent!

    I applied online, application appeared to get submitted – but then nothing. No automated email, no sms, literally nothing. A week later I get a call wanting to verify my income, so no probs, I send through tax returns for last two years, and my last ATO NOA. They call back and say they can’t accept it as documents are more than 18 months old (which they aren’t, last NOA was issued by ATO May 2020).

    They struggle with comprehending that May 2020 was less than 18 months ago, steadfastly refuse to accept it, and insist that I must have a newer NOA to give them (which I don’t, currently awaiting this to be issued from ATO), and also wan’t a letter from our company accountant stating that the figures in my NOA (which is issued by the ATO!) are accurate. Unbelievably difficult to deal with – so I told them to withdraw my application.

    Credit history, income, debt, expenses and assets are all solid, every other lender (including ANZ previously) has always approved applications instantly – so suffice to say that ANZ made this all very difficult and lost a customer in the process.

    Reply
  12. Darryl says: April 22, 2021 at 11:50 pm

    How would one redeem a KF flight from Sydney to Christchurch? Have you received indication that Singapore Air are reinstating this leg?

    Reply
  13. Hansen says: April 22, 2021 at 9:35 pm

    Hello, I’m currently a secondary card holder ANZ Rewards Black. Not a first card holder. If I stop being a secondary card holder and apply for a new ANZ Rewards card as a first card holder, am I eligible to get the signup bonus?

    Reply
  14. Maria says: April 16, 2021 at 12:22 pm

    Hi there,

    Can you please clarify if you at pointshacks or ANZ is actually giving away 180,000 Bonus ANZ Rewards Points PLUS an additional separate $800 gift voucher.

    OR

    If the 180,000 Bonus points is equivalent to $800 in gift voucher which can be used at Bunnings, Woolworths, Myer, David Jones, JB HIFI, Coles or Kmart with 180,000 Rewards points

    Reply
    1. Brandon Loo says: April 16, 2021 at 3:12 pm

      Hi Maria, it’s the latter. ANZ is offering 180,000 bonus points, and with that, you could get an $800 gift card or transfer it to airline miles. I’ve made the wording a bit clearer in the first paragraph.

      Reply
  15. RK says: April 2, 2021 at 2:19 pm

    I checked the above response but since its outdated comments, i would like to confirm having ANZ frequent flyer visa platinum card, still eligible to this promotion?

    Reply
    1. Brandon Loo says: April 3, 2021 at 11:24 am

      Hi RK, yes nothing has changed. Holding an ANZ Frequent Flyer card won’t exclude you from the bonuses on an ANZ Rewards card.

      Reply
  16. Sim says: June 10, 2020 at 6:52 pm

    How many Qantas points can the bonus 150,000 ANZ points be redeemed for?

    Reply
    1. Daniel Sciberras says: June 10, 2020 at 9:20 pm

      Hi Sim

      ANZ Rewards points cannot be transferred to Qantas. ANZ have direct-earn frequent flyer cards for Qantas Frequent Flyer.

      Reply
  17. Ron says: May 30, 2020 at 11:26 am

    Seems like ANZ Frequent Flyer card is a better value compared to this. 50,000 Krisflyer vs 120,000 Qantas

    Reply
  18. Arjun says: December 8, 2019 at 10:54 am

    I hold an ANZ Rewards Travel Adentures Card, if i apply for the ANZ Rewards Black card will i still be eligible for 150k bonus points?

    Reply
  19. drsmithy says: April 26, 2019 at 3:49 pm

    Does holding the ANZ FF Rewards Black mean you can’t get the signon bonus with this card, or are they considered different products ?

    Reply
    1. drsmithy says: April 26, 2019 at 3:50 pm

      Never mind, should have looked closer at the existing questions first. 🙂

      Reply
  20. Donna says: April 9, 2019 at 10:10 am

    I was browsing Virgin Australia to check the points needed for flying to Hong Kong this October, the Economy seats is around 47,000 points one way and the business class seats around 80,000 one way.

    I was actually disappointed as the points portrayed in this article are lower than the ones on the Virgin Australia website.

    Reply
  21. A says: March 17, 2019 at 10:21 pm

    Newish to this & was hoping for a second opinion/confirmation:

    Choosing between the ANZ Rewards Black and Frequent Flyer Black – assuming you have use for FF and/or Velocity/Krisflyer, the 120k bonus with the FF black would be of greater value than the 120k ANZ Rewards bonus on account of the weaker conversion rate to airline points?

    Reply
    1. Daniel Sciberras says: March 18, 2019 at 1:03 pm

      Hi A

      Yes, the offers are between 120,000 Qantas Points or 60,000 Velocity points or 40,000 KrisFlyer miles.

      Reply
  22. Chris says: February 6, 2019 at 3:32 pm

    Just received my ANZ Black today. Looked up the Veloce Lounge list straight away.

    Only 39 lounges across the world accept ANZ.

    Of the 10 in Asia, 8 are in India, two are in Tokyo. What the??

    Not much use.

    Now you know why it’s such a secret, they have nothing to show you.

    Reply
  23. Deb Loh says: January 21, 2019 at 2:32 pm

    For $7,500 worth of eligible purchases within 3 months of approval, do BPay payments e.g. council rates and utilities bills count towards eligible purchases? Thanks.

    Reply
    1. Gary says: October 16, 2021 at 4:14 pm

      I want to know if council rates count too

      Reply
  24. Mary Mallam says: January 15, 2019 at 8:31 pm

    Do you know if consumers will receive any acknowledgement that they have met the minimum $7500 spend and that their bonus 120k Qantas points will be credited?

    How long after meeting the minimum spend can consumers expect their bonus 120k Qantas points to be credited?

    Reply
    1. Daniel Sciberras says: January 16, 2019 at 5:18 pm

      Hi Mary

      No confirmation of minimum spend is given, however, when you reach the minimum spend, expect the bonus points to be credited to your account within 1-3 months.

      Reply
  25. Deb Loh says: January 9, 2019 at 9:16 pm

    Many thanks

    Reply
  26. Deb Loh says: January 8, 2019 at 12:58 pm

    If I currently hold a ANZ Qantas Frequent Flyer credit credit, can I still apply for the ANZ Rewards Black and qualify for the bonus points and $100 back on the card?

    Reply
    1. Daniel Sciberras says: January 9, 2019 at 4:16 pm

      Hi Deb

      The terms and conditions state:

      Not available in conjunction with other offers, packages or promotions, or when transferring from an existing ANZ credit card. Not available where you currently hold an ANZ Rewards, ANZ Rewards Platinum or ANZ Rewards Black credit card, or have closed, or qualified for bonus Rewards Points or a credit back on, any of those ANZ Rewards credit cards within the previous 12 months

      You would only be excluded if you have held an ‘ANZ Rewards’ card in the previous 12 months. ANZ FF cards are from a different family of cards and therefore holding an ANZ Qantas Frequent Flyer credit card would not exclude you from taking up the ANZ Black Rewards offer.

      Reply
  27. Steve says: December 17, 2018 at 7:53 am

    Thank!

    Reply
  28. Steve says: December 17, 2018 at 7:53 am

    I know payments to the ATO don’t result in any ANZ Rewards points, but do they count towards the minimum spend requirement?

    Reply
    1. Matt Moffitt says: December 18, 2018 at 7:29 am

      The application page states:

      Your application must be approved and you must activate the card and make $7,500 worth of eligible purchases within 3 months of approval to receive the bonus Reward Points and to have $100 credited to your account. Eligible purchase means purchases which are eligible to earn Reward Points.

      Given that ATO payments do not earn Rewards points, that means they don’t count towards the minimum spend either. Sorry!

      Reply
  29. Stephen says: December 14, 2018 at 2:11 pm

    If I am an additional card holder to an ANZ credit card account, can I apply for the ANZ Black card in my own right and qualify for the bonus rewards points & the $100 back on the card?

    Reply
    1. Matt Moffitt says: December 17, 2018 at 7:28 am

      Yes, you can!

      Reply

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ANZ Rewards Black: earn rates, airline transfers and dated benefit changes

Source review: 17 September 2026. This information is general in nature. It does not take your personal circumstances into account. Fees, benefits and eligibility conditions can change; check the issuer's current terms before applying or relying on a benefit.

Earning ANZ Reward Points

The ANZ Rewards Black earns points in ANZ's flexible rewards program rather than directly into one airline account. The Point Hacks product guide records two ANZ Reward Points per eligible dollar on the first $5,000 of eligible purchases in each statement period, followed by one point per dollar above that threshold. The annual fee recorded in the reviewed guide is $375 and the overseas transaction fee is 3.5% of the converted amount.

That tiered structure makes the statement period important. A cardholder who spends $6,000 evenly through a statement earns at the higher rate on the first $5,000 and at the lower rate on the remaining $1,000. The threshold then resets for the next statement period. The product should not be described as earning two points per dollar on all spend, and ANZ's exclusions for cash-equivalent, gambling, fee and other transactions still apply.

A new points cap from 28 October 2026

The reviewed product guide describes points earning as uncapped, but a newer Point Hacks report on Australian card changes records a scheduled change from 28 October 2026. From that date, points earning on ANZ Rewards Black is capped at $50,000 of eligible spend per statement period. The two-points-per-dollar tier on the first $5,000 and the one-point tier after $5,000 remain relevant within that cap.

This is a future change as at this page's 17 September 2026 review date. Before 28 October, the older uncapped description may still apply; on and after that date, spending above $50,000 in a statement period should not be assumed to earn points. The exact effective date and transitional treatment should be checked in ANZ's current card-change notice and rewards terms, especially if unusually large purchases are planned.

Transferring points to airline programs

ANZ Reward Points can be used for gift cards and merchandise, but the main attraction for frequent flyers is the ability to transfer to airline partners. The reviewed sources record a 2:1 conversion to Velocity Frequent Flyer and a 3:1 conversion to Singapore Airlines KrisFlyer or Cathay. At the two-point earn tier, that equates to one Velocity Point per eligible dollar or about 0.66 KrisFlyer mile or Asia Mile per dollar. After the $5,000 statement threshold, those effective rates halve.

The ANZ Rewards program guide explains the broader redemption choices and the need to account for minimum transfer amounts. The flexible-points introduction explains why keeping points with the bank can preserve options until a reward seat or transfer need is identified. Transfer ratios and partner lists can change, and moving points is usually irreversible. Points should be transferred only after checking the recipient account details, availability and expiry rules.

ANZ Reward Points also have their own expiry rule. The product guide says points must be used within three years after the end of the year in which they were earned. Someone collecting slowly should therefore track older balances rather than assuming that all bank points last indefinitely.

Insurance now and the change scheduled for December

The current product guide lists international travel insurance, domestic travel insurance, rental-vehicle excess cover in Australia, purchase protection and extended warranty insurance. Cover is subject to eligibility, activation, limits, exclusions and the ANZ insurance PDS. A list of policy categories does not establish that a particular trip, person or claim will be covered.

The newer card-change report says ANZ Rewards Black will lose domestic and international travel insurance from 9 December 2026. This does not necessarily remove every purchase-related insurance category, but it is a material change for anyone choosing the card for travel cover. A trip booked before the change may have different treatment from a trip beginning afterwards, so readers should check ANZ's transition rules and the policy documents in force for the relevant dates. Do not rely on the older product guide alone for travel occurring after 9 December.

Digital wallets, eligibility and introductory offers

The card supports Apple Pay, Google Pay, Samsung Pay and other compatible wallets listed by ANZ. The reviewed guide states minimum eligibility of age 18 and Australian permanent residency, or an eligible non-permanent visa with sufficient time remaining. Income, credit assessment and identification requirements still apply.

Introductory offers can include a large ANZ Reward Points total, a statement credit and a second points instalment for keeping the card open beyond the first year. Because the total and deadlines change, this mirror does not preserve a promotional amount. The key exclusion in the reviewed material is that applicants may be ineligible for a bonus if they currently hold, or held within the previous 24 months, an ANZ Rewards or ANZ Frequent Flyer credit card. The exact offer terms at application should be checked, including eligible spend, posting time and the requirement to retain the card.

Comparing the card on ongoing value

ANZ Rewards Black can suit someone who wants a choice of airline transfer partners, spends enough to use the higher first-$5,000 tier and can extract value from the remaining insurance and purchase protections. It offers no airport-lounge benefit in the reviewed product material; lounge access associated with ANZ Frequent Flyer Black should not be carried across to this different card.

The annual calculation should include the $375 fee, the lower rate above $5,000 per statement, the 3.5% foreign-currency cost, points expiry and the two scheduled 2026 changes. An introductory bonus may improve the first year, but the renewal decision should use ordinary points earning and benefits that remain available after 9 December 2026. Readers who mainly want direct airline earning or travel insurance after that date may find another product easier to match to their needs.

Detailed card snapshot and current offer structure

Feature Reviewed position at 17 September 2026
Annual fee $375 a year
Earn rate 2 ANZ Reward Points per eligible $1 up to $5,000 per statement period, then 1 point per $1
New points cap From 28 October 2026, points earn only on the first $50,000 of eligible spend per statement period
Velocity transfer 2 ANZ Reward Points to 1 Velocity Point
KrisFlyer and Cathay transfer 3 ANZ Reward Points to 1 mile
Air New Zealand transfer 200 ANZ Reward Points to NZ$1 Airpoints Dollar
Foreign transaction fee 3.5% of the converted amount
Purchase rate 20.99% p.a. in the reviewed guide
Cash-advance rate 21.99% p.a. in the reviewed guide
Interest-free period Up to 44 days on purchases
Additional card $65 a year in the KB product detail
Minimum credit limit $15,000 in the KB product detail

The 2026 card-change report says the introductory offer remained up to 180,000 extra ANZ Reward Points plus $100 back. The product guide breaks that into 130,000 points and $100 back after at least $5,000 of eligible purchases in the first three months, then another 50,000 points for keeping the card open for 15 months. That second instalment is a retention condition rather than another spend target. The offer excludes applicants who currently hold, or held during the preceding 24 months, an ANZ Rewards or ANZ Frequent Flyer credit card under the reviewed terms.

A 15-month condition carries the account beyond its first anniversary. Any headline valuation should therefore include the next annual fee and should not assume that all points arrive shortly after approval.

How the statement-period tiers work

The first $5,000 of eligible spend in each statement period earns two ANZ Reward Points per dollar. Spend above $5,000 earns one point per dollar. The threshold resets with the next statement period, so monthly timing affects the effective earn rate.

Eligible spend in one statement period ANZ Reward Points before 28 October 2026 Velocity equivalent at 2:1
$2,000 4,000 2,000
$5,000 10,000 5,000
$6,000 11,000 5,500
$10,000 15,000 7,500
$50,000 55,000 27,500

From 28 October 2026, eligible spend above $50,000 in one statement period will not earn points under the major card-changes report. The two-point and one-point tiers remain relevant below the cap. The older guide's word “uncapped” describes the pre-change position and should not be repeated without the date.

Cash advances, fees, balance transfers, cash-equivalent and other excluded transactions do not earn points. Large transactions also need to be considered against the credit limit and repayment capacity rather than arranged solely to harvest rewards.

Transfer choices and effective airline earn rates

ANZ Rewards preserves a choice between airline partners until transfer. The ANZ Rewards program guide records Velocity, KrisFlyer, Cathay and Air New Zealand options, with minimum transfer quantities and processing rules. Transfers are generally irreversible.

Spending tier Velocity at 2:1 KrisFlyer/Cathay at 3:1 Airpoints at 200:1 NZD
First $5,000 per statement 1 point per $1 0.66 mile per $1 NZ$0.01 per $1
Spend above $5,000 0.5 point per $1 0.33 mile per $1 NZ$0.005 per $1

These are conversion outcomes, not cash values. Reward-seat availability, taxes, partner surcharges and expiry determine the value actually received. The product guide says ANZ Reward Points expire three years after the end of the year in which they were earned. Keeping points flexible is useful only if older balances are monitored and redeemed before cancellation.

Insurance before and after 9 December 2026

The current guide lists international travel insurance, domestic travel insurance, Australian rental-vehicle excess cover, purchase protection and extended warranty. Each category has eligibility, activation, limits, exclusions and claims requirements in the ANZ complimentary-insurance booklet.

A later source records a decisive change: ANZ Rewards Platinum and Black lose domestic and international travel insurance from 9 December 2026. It does not say that every purchase-related protection ends. Readers with travel spanning the change need ANZ's transition notice and the policy version applying to the booking and trip dates. A card selected now for a journey after 9 December should not be valued as though the older travel cover necessarily continues.

This date is separate from the 28 October points cap. The clean timeline is:

Date Change
Until 27 October 2026 Older guide describes uncapped points earning with the lower tier continuing above $5,000
From 28 October 2026 Eligible spend earning points capped at $50,000 per statement period
Until 8 December 2026 Older domestic and international travel-insurance position remains subject to transition terms
From 9 December 2026 Domestic and international travel insurance removed according to the reviewed change report

Costs, wallets and eligibility

The 3.5% foreign-currency fee means a $1,000 equivalent overseas transaction costs $35 before interest. That cost can exceed the value of the ANZ Reward Points earned. The 20.99% purchase rate similarly makes carrying a balance an expensive way to collect rewards.

The card supports Apple Pay, Google Pay, Samsung Pay, Fitbit Pay and Garmin Pay in the reviewed guide. Minimum application criteria include age 18 and Australian permanent residency, or an eligible non-permanent visa with more than 24 months remaining. Proof of income, identification and credit assessment still apply. A $15,000 minimum credit limit can also matter for borrowing capacity and future lending applications.

Rewards Black versus adjacent ANZ cards

Rewards Black earns flexible ANZ points. ANZ Frequent Flyer Black earns Qantas Points directly and has its own fee, earn tiers and benefits; its lounge or travel features must not be attributed to Rewards Black. ANZ Rewards Platinum has a lower fee and lower statement-period threshold. The Black card mainly suits higher spend and travellers who value the choice between Velocity, KrisFlyer and Cathay, though the insurance removal weakens its travel package after December.

Practical questions answered

Is ANZ Rewards Black still uncapped?

Only until the announced change takes effect. The reviewed report says earning will be capped at $50,000 of eligible spend per statement period from 28 October 2026. Spending above that amount should not be assumed to earn points, so high-volume users need to check ANZ's final terms and effective-date treatment.

Does the earn rate reset each month?

It resets by statement period, which may not start and end with the calendar month. The first $5,000 of eligible spending in each statement period earns at the higher rate, then the lower rate applies. Use the dates on the statement when forecasting points rather than grouping purchases by calendar month.

What does $6,000 of eligible statement-period spend earn?

Under the reviewed earn structure, the first $5,000 earns 10,000 ANZ Reward Points and the remaining $1,000 earns 1,000, for 11,000 points in total. Excluded transactions do not count in the same way, and the calculation is in ANZ points before any airline transfer ratio.

Can ANZ Reward Points become Qantas Points?

Qantas is not listed as a transfer partner for Rewards Black in the reviewed guide. ANZ's separate Frequent Flyer card range earns Qantas Points directly, while Rewards Black focuses on partners such as Velocity, KrisFlyer and Cathay under their current ratios. Confirm the live partner list before choosing a card or transferring.

When do ANZ Reward Points expire?

The reviewed guide says points expire three years after the end of the year in which they were earned. That can make the effective life longer than exactly three years, but older and newer points will have different deadlines. Track the balance by earning year and allow time for any redemption or airline transfer to process.

Does the card include airport-lounge access?

No lounge benefit is listed for ANZ Rewards Black in the reviewed product material. ANZ Frequent Flyer Black is a different card with a different rewards structure, so its lounge invitations should not be carried across when valuing Rewards Black.

Will travel insurance continue after 8 December 2026?

The reviewed change report says domestic and international travel insurance ends from 9 December 2026. Existing trips or purchases may be subject to transition provisions, so check ANZ's notice and the policy wording that applies to the booking and travel dates. Do not rely on the older product guide alone.

Are all 180,000 introductory points earned after three months?

No. The reviewed offer awards the final 50,000 points only after the account remains open for 15 months and the relevant conditions are met. The full headline total therefore spans two annual-fee periods, so compare the first year, the deferred instalment and an ordinary renewal year separately.

Is the $100 back a permanent annual credit?

No. It belongs to the reviewed introductory offer and is not described as a recurring benefit. A normal-year value calculation should omit it and use the annual fee, ongoing earn rates, transfer options and benefits that remain after the announced insurance change.

Is overseas spending attractive because it earns points?

The reviewed 3.5% foreign-currency fee must be included in the comparison. On many purchases that fee will exceed the realistic value of the ANZ Reward Points earned, particularly after applying an airline transfer ratio. Compare a no-foreign-fee card before using Rewards Black overseas.

A realistic renewal calculation

For an ordinary renewal year, ignore the one-off bonus and compare the $375 fee with the value of points earned under the two tiers, the transfer flexibility and only the insurance benefits that remain. A person spending $5,000 or less per statement keeps the strongest effective rate; a much higher spender receives a lower blended rate and, after 28 October, no points above the $50,000 cap. From 9 December, the loss of travel insurance makes the card primarily a flexible-points product with purchase protections rather than a complete travel package.

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