- No annual fee for the first year
- Up to 1% cashback on spending
- No cap on cashback rewards
- Access to platinum privileges
- Complimentary overseas travel insurance
- Annual fee: $125
With its current introductory offer, the ANZ Cashback Visa Platinum allows new cardholders to pay no annual fee for the first year, providing the opportunity to earn cashback rewards on their card spending while trying out the rest of the card’s features ‘for free’. Cardholders can benefit from up to 1% cashback on their card spending, with no cap on the amount they can earn back. Other features offered include overseas travel insurance and access to platinum privileges.
One of the most appealing aspects of the ANZ Cashback Visa Platinum is its simplicity. This is a rewards card without the complex rewards programme. Instead of worrying about tiered earn rates, points shaping and how to get the most out of the points you earn, you simply receive cashback on your card spending at the end of each year, which you can then spend as you like.
Like most rewards cards, it rewards bigger spenders most of all. On an annual spend of $5,000 to $9,999, you would receive 0.5% cashback. So, on a spend of $9,000, you would get $45 back. However, if you spend more than $10,000 in a year, you will receive 1% cashback. That means if you spend $30,000, you’ll get $300 cashback in return. And the best bit? There is no cap on the amount of cashback you can earn in a year.
Currently, the ANZ Cashback Visa Platinum makes its cashback rewards even more valuable, charging no annual fee for the first year for new cardholders. This could make it a great option for cardholders who want to try out a cashback card, allowing them to check out its features while earning cashback rewards and paying out no annual fee in the first year.
As for extras, this is not a card built for the feature hunter. Yes, it offers a platinum concierge and complimentary overseas travel insurance, but that’s where the extras end. However, with its affordable standard annual fee, this may work well for those who want a simple platinum option, offering a way to earn cashback rewards without too much small print or complex extras to worry about.
With the basics covered, it’s time to dig a little deeper into what’s on offer with the ANZ Cashback Visa Platinum, so you can decide whether this card is right for you.
Unlike some cashback cards, the ANZ Cashback Visa Platinum offers unlimited cashback rewards. That means no cap on the amount of cashback you can earn, so, the more you spend, the more cash you get back. With that being said, there is some rewards shaping to be aware of.
First up, you must spend at least $5,000 on eligible purchases during the year to qualify for cashback. From there, if you spend between $5,000 and $9,999 on your card within the year, you will receive 0.5% cashback on the amount you spent. However, if you spend $10,000 or more, you will receive 1% cashback.
As we mentioned before, this card – like most rewards cards – rewards bigger spenders. Let’s take a look at some examples.
Whether this card would be the best option for big spenders really depends on their desire for features. Those who spend big on their cards may look for more extras than this card offers. On the other hand, if you simply want to use your card to get something back on your spending, this card could provide the perfect option.
While this cashback rewards programme is not as complex as some other rewards programmes out there, there is some need-to-know info.
Your Cashback year starts on the date of your first purchase, and runs for a 12 month period. (This is not to be confused with your card anniversary when your annual fee is due. That will be every 12 months from card approval.)
All eligible purchases made within your Cashback year will accrue cashback according to the percentages mentioned above. The total cashback reward will be credited to your credit card automatically at the end of your CashBack year.
Eligible purchases do not include cash advances, balance transfers and the purchase of cash substitutes (such as travellers’ cheques), gambling transactions, or business related expenditure.
It’s also worth pointing out that a joint or additional cardholder can be added to the account for $10 per year. If you have a family member who needs access to credit, this could provide an easy way to boost your cashback earnings each year with their card spending. Just remember, as primary cardholder, you are responsible for their spend.
With ‘platinum’ in its name, you would expect the ANZ Cashback Visa Platinum to have a little something extra to offer over its classic cousin. While this card may have a few nice extras, it’s not overloaded with features. Instead, ANZ provided this card its ‘platinum’ branding for its unlimited cashback earning.
Certainly one of the most appealing features on the ANZ Cashback Visa Platinum is its introductory offer. Why? With no annual fee to pay in the first year, you can ‘try before you buy’. Paying no annual fees in the first year, you can check out all this card has to offer, to see if it’s a good fit. If it’s not right for you, simple cancel the card before the first annual fee is due.
However, not only does this offer allow you the chance to try the card on for size, it also lets you earn unlimited cashback on your card spending ‘for free’. As long as you avoid other fees and any interest accruing on your balance, this could provide the opportunity to get some serious value in the cashback you receive.
What do you need to know about this offer? Of course, after 12 months, the standard annual fee will apply. Also, the offer is only available to new ANZ CashBack Visa Platinum cards, with only one available per customer. Transfers from existing ANZ credit cards will not be eligible for this offer.
The ANZ Cashback Visa Platinum advertises “Special Platinum Privileges”. However, it doesn’t go into much detail regarding what these privileges are. It does mention 0% commission on foreign cash purchases from any ANZ branch in New Zealand, as well as access to the Visa Concierge service.
A concierge service can come in handy both at home and overseas, allowing you to call 24/7 to ask for assistance with anything from travel arrangements to restaurant reservations. Want some ideas on what you can use your concierge service for? Check out the Visa Concierge site for more info and essential contact details.
While it may not knock your socks off with excitement, credit card travel insurance can come in very handy indeed. If you are a frequent traveller – or even if you’re not – you could use this cover instead of standalone cover, saving you both time and money.
This card provides complimentary overseas travel insurance, covering overseas medical expenses, luggage and personal effects, missed transport connections, loss of income, personal liability, rental vehicle excess and more. Check out the PDS for eligibility, limits and sub-limits, exclusions and full activation details.
You and immediate family members travelling with you could enjoy full cover under the policy as long as you are departing from and returning to New Zealand, you have a return ticket prior to departure, and you have paid at least half of the prepaid travel expenses on your card. Trip duration can be up to 90 days, with extended cover available upon payment of a premium.
Want to pay with your phone? Or perhaps with your smartwatch? You can with the ANZ Cashback Visa Platinum thanks to its compatibility with Apple Pay and Google Pay. Simply sync your device to your card and use your device to pay next time you’re at the checkout. Fast and easy payments, allowing you to leave your wallet at home.
One of the first things to look at on any rewards card is its annual fee. After the first year, the ANZ Cashback Visa Platinum has an annual fee of $125. This is about standard for a platinum card on the lower end of the scale, however, paying that annual fee has to be worthwhile for you. To work that out, you need to think about how much you get back in cashback and what kind of value the card’s features provide.
In terms of interest, this card is not a low interest card. Rewards cards generally aren’t, which is why they tend to suit people who pay off their balance each month before it starts accruing interest. As long as you clear your balance each month, this card could certainly provide value. However, if you carry and balance and pay out interest, that value may be more difficult to find.
Offering access to a simple rewards programme, the ANZ Cashback Visa Platinum could be the ideal option for cardholders who want to earn something back on their spending while keeping complex features to a minimum. Offering uncapped cashback potential, this card could work very well for bigger spenders, especially with no annual fee to pay in the first year.
Purchase rate 20.95% p.a.
Cash advance rate 20.95% p.a.
Interest free on purchases up to 55 days
Minimum credit limt $N/A
Maximum credit limit N/A
Annual fee $125 p.a.
Additional card holder fee $10 p.a.
Foreign transaction fee 2.5%
Annual fee the first year $0
Cash advance fee $0
Late payment fee $12
Overseas travel insurance yes
Flight inconvenience insurance No
Transport accident cover No
Smartphone screen insurance No
Purchase protection insurance No
Extended warranty insurance No
Rental vehicle excess cover No
Eligible with Apple Pay & Google Pay
Be over 18 years old
Good Credit and have not applied for multiple credit cards recently
Permanent Resident or New Zealand Citizen
You have your personal details ready to complete the online application
Roland B Bleyer founded Creditcard.com.au in 2005 and has extensive knowledge about credit cards. He personally answers all questions and write the editor reviews for each card here. Always keen to share his passion to educate consumers and help you select better suited credit cards.
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