Any incentive to stay with ANZ?

[SnowYeti]

Just changed over to Qantas Plat ANZ Visa. Was on gold (non Qantas). Is there any incentive to stay with ANZ does anyone think, rather than looking around? Have been with ANZ for 10 years now.

Didn't think about asking if there's any rewards for being with them so long.

 

[mrmerc500]

For the past year i've had a ANZ frequent flyer visa but with annual fee time approaching, I called them to see what they could offer me.

I joined when they had 10,000 point promotion but considering it isn't my primary frequent flyer card it wasn't worth paying another fee (they would only waive $55 leaving me to pay $40) for the little amount of money I put through it.

Personally SnowYeti I don't think the platinum one is worth it either. 1:1 ratio upto $2500 is useless if your a big spender especially with the $195 fee. The bonus partners is now useless too as some retailers have recently left the program while other charge a credit card surcharge which devalues the points. I regularly used it at Accor hotels but they now charge 1.5% surcharge.

Check out the Earth Platinum card also, it's only $125 for the first year then $250 after so perhaps useful for the first year at least.

 

[oz_mark]

I regularly used it at Accor hotels but they now charge 1.5% surcharge.

They do? I have made some recent bookings and haven't had that happen. Is it Accor generally, or specific hotels?

 

[mrmerc500]

The surcharge come in as of 1st Feb this year I believe and it gets charged when you check out. Most hotels I've stayed at recently already have it otherwise others hotels are just putting it off as much as possible cause they know customers will complain. So for $1000 of spend, you'll be charged $15 extra so is 2000 points really worth it then?

The number of bonus partners without a surcharge is now very minimal.

 

[oz_mark]

The surcharge come in as of 1st Feb this year I believe and it gets charged when you check out. Most hotels I've stayed at recently already have it otherwise others hotels are just putting it off as much as possible cause they know customers will complain. So for $1000 of spend, you'll be charged $15 extra so is 2000 points really worth it then?

The number of bonus partners without a surcharge is now very minimal.

Mine were on prepaid rates, and no surcharge charged. Good luck them getting it out of me at checkout!

 

[misstam]

Just changed over to Qantas Plat ANZ Visa. Was on gold (non Qantas). Is there any incentive to stay with ANZ does anyone think, rather than looking around? Have been with ANZ for 10 years now.

Didn't think about asking if there's any rewards for being with them so long.

I'm window shopping for a new CC also, after similarly having been with ANZ for aeons with an ANZ Qantas FF visa.

The only real redeeming factor of ANZ for me, is the ease of online banking to transfer funds between my savings A/C and my ANZ visa & ANZ loan.

The Earth Platinum looks interesting - pity I didn't join up before Jan 10 for the 20,000 pts bonus!. On the Earth Amex you'll get 1.5 points/$1 spend - (currently until March 31 it's 3 points/$1.)
Also note-worthy is the 0.99%pa interest for balance transfers for up to 6 months.

I'm steering my mum towards the Earth Card for the complimentary QF FF membership for her upcoming trip. And seeing as she's going to be shopping anyway, she may as well earn some FF points on the ground as well as in the air!

I think for now I'll just keep my eyes peeled for new offers with alluring bonuses...

 

[trippin_the_rift]

Just changed over to Qantas Plat ANZ Visa. Was on gold (non Qantas). Is there any incentive to stay with ANZ does anyone think, rather than looking around? Have been with ANZ for 10 years now.

Didn't think about asking if there's any rewards for being with them so long.

My annual fee is coming up soon too. Last year they waived the $100 or so worth (whatever the gold fee is) and I paid the $95 difference for platinum.

Not sure I'll keep the card this year. The points capping screws me every month and it's annoying.

Also keep in mind that 'loyalty' is valued in terms of your FUTURE loyalty and not so much your history.

 

[leny]

Can I confirm with anyone that the points earning ratio is 1:1? I can't find any justification for:

"Earn up to one Qantas Frequent Flyer Point for every dollar up to $1,500 spent on purchases monthly (excluding cash equivalent transactions)"

 

[leny]

I just rang up ANZ to ask the above question, and their answer was that they need to say this because it depends on the merchant, and how many points will be given for purchasing with them..? But apparently it will generally be 1 point or more per $1, and it is not up to ANZ to decide.

Can anyone explain? Sounds a bit silly to me. Since when does the merchant decide how many FF points will be given for a purchase? I even specifically said that I'm not talking about bonus points.

 

[misstam]

Can I confirm with anyone that the points earning ratio is 1:1? I can't find any justification for:

"Earn up to one Qantas Frequent Flyer Point for every dollar up to $1,500 spent on purchases monthly (excluding cash equivalent transactions)"

My current ANZ statement says:

Qantas Frequent Flyer points earned this period
Points earned on $xx_x (1 point per A$1.00 spent)


"Not up to ANZ to decide?" In that case, I could ask a shop attendant very nicely if they don't mind awarding me 30 points per $ spent...

 

[leny]

My current ANZ statement says:

Qantas Frequent Flyer points earned this period
Points earned on $xx_x (1 point per A$1.00 spent)


"Not up to ANZ to decide?" In that case, I could ask a shop attendant very nicely if they don't mind awarding me 30 points per $ spent...

Ok, thanks for that. I wasn't satisfied with the operator's answer because it didn't make sense at all. Who knows what they're smoking on night shift.

 

[ric_melb]

I have had an ANZ Frequent Flyer card for years.
The points credited are always one point per dollar up to the maximum monthly limit per card. $1500 on Classic, and $2500 on Gold/Platinum.

I think the - up to - phrase is some legal technicality which so far does not need to be worried about.

As for the merchant deciding how many points you get, forget it.

 

[serfty]

Qantas ANZ earning is based on your statement month.

The standard (Blue) card earns 1 point per $1 for the first $1500, then ½ a point per $1 for the next $3500, then nothing. So the maximum points per month is 2,250 for a 5K+ spend.

The Gold/Platinum earn is 1 point per $1 for the first $2500, then ½ a point per $1 for the next $7500 , then nothing. So the maximum points per month is 6,250 for a 10K+ spend.

The up to 1:1 refers to a monthly spend of less than either $1500 or $2500 depending on the card.

 

[markis10]

Qantas ANZ earning is based on your statement month.


The Gold/Platinum earn is 1 point per $1 for the first $2500, then ½ a point per $1 for the next $7500 , then nothing. So the maximum points per month is 5,750 for a 10K+ spend.

Its $6250 - your maths is out Serfty, the only reason I noticed was that was what I got last month (was rolling over the balance)

 

[WA flyer]

Surely better to switch to a cba plat (150 cap) or citibank plat (120 cap) @1:1, if you are likely to spend over 2500 in any month.

 

[trippin_the_rift]

Surely better to switch to a cba plat (150 cap) or citibank plat (120 cap) @1:1, if you are likely to spend over 2500 in any month.

Well, called up today to do something about the annual fee on my ff plat card. 3 separate people gave me a flat out NOPE on waiving of any fees.

I kindly asked one gentleman to cast an eye over the account to see what my average monthly spend was, then to multiple it by 9 years.

For the last year or so I've maxed out the 6250 points/month (left with little option as all my other cards have maxed out their points limits too!!).

After the 3rd guy said nope nothing they can do at all I was a tad agjitated and told him it was the last straw - going to cancel the card and my account with ANZ.

200 bucks I can deal with - but high resistance to assist a high spend customer is something I won't put up with. We're all being flexible by keeping the ANZ card (keeping in mind it's probably one of the worst cards out there to get points with) I think the very least they can do is show the same professional respect.

</rant>

He said the cancel dept was closed so I asked for someone to call me.

Will update on the progress.

 

[wxxnxs]

Well, called up today to do something about the annual fee on my ff plat card. 3 separate people gave me a flat out NOPE on waiving of any fees.

I kindly asked one gentleman to cast an eye over the account to see what my average monthly spend was, then to multiple it by 9 years.

For the last year or so I've maxed out the 6250 points/month (left with little option as all my other cards have maxed out their points limits too!!).

After the 3rd guy said nope nothing they can do at all I was a tad agjitated and told him it was the last straw - going to cancel the card and my account with ANZ.

200 bucks I can deal with - but high resistance to assist a high spend customer is something I won't put up with. We're all being flexible by keeping the ANZ card (keeping in mind it's probably one of the worst cards out there to get points with) I think the very least they can do is show the same professional respect.

</rant>

He said the cancel dept was closed so I asked for someone to call me.

Will update on the progress.

Sorry for your case, I have similar situation as you even my monthly spending is not so high, but I get different result as you. Currently I am holding with NAB velocity standard card, the new annual fee will be due on May, simply called to the card center to cancel the card, but the guy told me just keep the card and they will waive another year annual fee. What a service! Love NAB.

 

[trippin_the_rift]

Sorry for your case, I have similar situation as you even my monthly spending is not so high, but I get different result as you. Currently I am holding with NAB velocity standard card, the new annual fee will be due on May, simply called to the card center to cancel the card, but the guy told me just keep the card and they will waive another year annual fee. What a service! Love NAB.

Update: ANZ seem to have zero flexibility (even supervisors) in helping high spend customers in any way. I even offered a nominal amount for the card and it was flatly rejected. This is off the back of high spend for a long period of time (customer for 9 years) too. 70 minutes and 10 representatives later the outcome is a cancelled card and one very emotionally charged CEO.

For the sake of $200 I'm now personally going to make sure the bank loses millions. This is my new life goal.

Watch out ANZ, I'm going to put my money where my mouth is by spending my own money to make sure people move to other banks. Starting with my girlfriend. There goes an $800K loan straight off the bat.

Next on the agenda is ANZ Nominees. Might be illegal for me to speak about this so I won't.

Sometimes the only way to make a company understand is to hit them where it hurts. On the ASX.

 

[NM]

Sometimes the only way to make a company understand is to hit them where it hurts. On the ASX.

Note to self, sell ANZ shares before TTR trips the rift.

Any suggestion as to which bank shares I should purchase as they take on the new business?

 

[JohnK]

Update: ANZ seem to have zero flexibility (even supervisors) in helping high spend customers in any way.

Zero flexibility and poor customer service. ANZ will definitely lose my business.

The terms and condiitions of my credit card were unlimited balance transfers in the first 12 months at 2.9% (expires August 2009). Apparently the terms and conditions have been changed recently and the latest balance transfer I did is at 11.74%. I actually paid some money into the credit card account negating the existing balance transfer at 2.9% and initiating a new balance transfer at 11.74%. :shock:

I had no idea the terms and conditions had changed. I did not receive a letter but according to ANZ they can either send out a letter or advise people via National newspapers. Are they serious? Who reads every single article in a newspaper everyday? Anyway ANZ is a joke and I will endeavour to pay off the balance as quickly as I can and never deal with them again....