ANZ Rewards Black Visa Review
Premium rewards card with no foreign fees and comprehensive travel benefits from New Zealand's largest bank
Quick Facts
Executive Summary
The ANZ Rewards Black Visa is a premium rewards credit card that combines comprehensive travel benefits with no foreign transaction fees. At $295 annually, it's positioned as ANZ's flagship rewards card, offering 1 reward point per $1 spent and exceptional value for frequent travelers.
Key Features & Benefits
ANZ Rewards Program
- 1 ANZ Rewards point per $1 spent on all purchases
- No earning caps or restrictions - earn unlimited rewards
- Flexible redemption including cashback, gift cards, and travel
- Points don't expire while account remains active
Travel Benefits
- No foreign transaction fees - save 2-3% on international purchases
- Comprehensive travel insurance covering medical, luggage, and trip cancellation
- Purchase protection and extended warranty on eligible purchases
- 24/7 concierge service for travel planning and assistance
Premium Features
- ANZ Priority Banking access with premium service
- High credit limits up to $100,000 for qualified applicants
- Premium card design with contactless payment technology
- Apple Pay and Google Pay compatibility
Rewards Program Analysis
ANZ Rewards Program
The ANZ Rewards program offers straightforward 1 point per $1 earning with flexible redemption options. Points can be redeemed for cashback, gift cards, merchandise, or transferred to partner loyalty programs.
Redemption Options
- Cashback to account 250 points = $1
- Gift cards Variable rates
- Travel bookings Enhanced value
- Merchandise Catalog pricing
Partner Transfers
- Airpoints 200 points = 1 Airpoints
- Qantas Frequent Flyer 250 points = 1 Qantas point
- Singapore Airlines 275 points = 1 KrisFlyer
- Other partners Various rates
Annual Value Calculator
| Annual Spend | Points Earned | Cashback Value | Net Value* |
|---|---|---|---|
| $20,000 | 20,000 | $80 | -$215 |
| $40,000 | 40,000 | $160 | -$135 |
| $60,000 | 60,000 | $240 | -$55 |
| $80,000 | 80,000 | $320 | $25 |
*After $295 annual fee, excluding foreign fee savings
Foreign Fee Savings Analysis
International Spending Value
The no foreign transaction fee benefit provides significant value for international travelers. Most cards charge 2-3% on foreign transactions, making this card highly valuable for overseas spending.
Annual Savings Calculator
Break-Even Analysis
With just $12,000 in international spending annually, the foreign fee savings alone justify the annual fee.
Additional rewards and benefits provide extra value on top of fee savings.
Costs & Fees Analysis
Annual Costs
Transaction Fees
Eligibility & Application
Requirements
- Minimum annual income: $
- New Zealand resident, age 18+
- Excellent credit history required
- Stable employment history
Application Tips
- Existing ANZ customers often approved faster
- Complete application in single session
- Have recent payslips ready
- Consider Priority Banking eligibility
Pros & Cons
Advantages
- No foreign transaction fees - excellent for travelers
- Comprehensive travel insurance and protection
- 1 point per $1 with unlimited earning
- Flexible redemption options
- ANZ's established banking network
- Premium card benefits and concierge service
Disadvantages
- High $295 annual fee
- Requires $80,000+ spending to break even on rewards alone
- High minimum income requirement ($75,000)
- Poor cashback redemption rate (0.4%)
- Additional cards cost $50 each
- High purchase interest rate (21.95%)
Who Should Apply?
Ideal Candidates
- Frequent international travelers: The no foreign fee benefit alone can justify the annual fee for those spending $12,000+ overseas annually
- High spenders: Those with $60,000+ annual spending who can maximize the unlimited 1 point per $1 earning
- Premium service seekers: Those who value comprehensive travel insurance, concierge service, and priority banking
- ANZ customers: Existing ANZ customers who want to maximize their banking relationship
Consider Alternatives If...
- You rarely travel internationally or spend less than $10,000 overseas
- Your annual spending is below $40,000
- You prioritize higher cashback earning rates
- You want a fee-free rewards card
Final Verdict
The ANZ Rewards Black Visa excels as a premium travel card, offering exceptional value through no foreign transaction fees and comprehensive travel benefits. While the $295 annual fee is significant, frequent international travelers and high spenders will find it worthwhile through fee savings alone.
Ready to Apply?
Get your ANZ Rewards Black Visa today
Apply at ANZ →External link - Terms and conditions apply
Quick Comparison
✈️ Travel Value
The no foreign fees alone save $250 annually on $10,000 international spending. Combined with comprehensive travel insurance, this card pays for itself for frequent travelers.