ANZ Changes

[tedly03]

So ANZ has decided to change its Quantas Frequent Flyer points programme. Told me I would be better off. What rubbish. Change to AMEX higher charges per transaction plus rewards fee. Stay with VISA, no reduction in fee, and one point per $2. Where do we go?

 

[serfty]

Welcome to AFF tedly03.

AFAIK, ANZ are not currently forcing those with existing accounts onto the new regime.

 

[mole]

I received notification in the mail last week of the changes for existing customers. We've had our ANZ Qantas Platinum Visa for around 3 years and now being told the points earning capacity is being halved. Fortunately we put everything for our business on our Qantas Amex Ultimate card and only use the visa for merchants who do not accept Amex (which is not many anymore fortunately). Just annoyed that the yearly fees were deducted only a month prior to them notifying us of the changes.

 

[trippin_the_rift]

Welcome to AFF tedly03.

AFAIK, ANZ are not currently forcing those with existing accounts onto the new regime.

They are not forcing the new amex card on you, but they are reducing the points you get on your existing visa from Jan 2010.

The letter is very carefully worded to disguise this change.

GG ANZ

 

[russianrob]

Sorry Serfty, you are wrong.
Existing customers are being forced to accept the new points system even if you refuse to take up their "kind offer" of the Amex

 

[dajop]

Just annoyed that the yearly fees were deducted only a month prior to them notifying us of the changes.

Some banks will pro-rata refund the yearly fee if you cancel the card (I know westpac did when I cancelled my altitude Amex/Visa)

 

[serfty]

Sorry Serfty, you are wrong. ...

No I'm not - I used the word currently - it is currently October 2009, not January 2010!

 

[DontGetMeStarted]

Sorry Serfty, you are wrong.
Existing customers are being forced to accept the new points system even if you refuse to take up their "kind offer" of the Amex

I was told yesterday by ANZ that I do not need to change, I have a platinum card and that will still earn 1 point per $1 up to $2500 and then 1 point for every $2.00 spent thereafter. They will issue the Amex card anyway on my application ( as I have a big purchase coming up and wanted to maximise my points) and that will earn 1 point for $1 spend. The fee will increase only if I take up the boost point plan which I do not intend to do. so fee will remain as $195.00 Am I being told the wrong thing ?

 

[Dave Noble]

No I'm not - I used the word currently - it is currently October 2009, not January 2010!

Even with the word currently, it would seem to be incorrect.

ANZ is currently informing customers of the change in terms which will take effect in the future

Dave

 

[mole]

The letter that we received from ANZ states the points change takes effect on 7th Dec 2009 (1 point per $2 spend), our annual fee stays the same. We dont want the amex as we are have a Qantas Ultimate Amex with better points earning capacity and our annual spend is very high on this card as all our business expenses go on it.

Will now be shopping around for a Visa/Mastercard with better points earning capacity.

 

[serfty]

... Existing customers are being forced to accept the new points system even if you refuse to take up their "kind offer" of the Amex

I'll await my next statement ... due any day ...

 

[opusman]

The letter I got gave November 17th as the date when my points would drop back to 1:2, and "coincidentally" this is my account anniversary date. So I would guess that if people do nothing they will drop back to the lower rate when their 12 month anniversary rolls around.

 

[MelUser]

IT is not only ANZ.

My Commonwealth Bank Platinum Mastercard is also dropping to 1/2 qantas point per dollar spent.

I wonder whether the banks have colluded to reduce award benefits.

ACCC are you listening?

 

[repete]

Is this change across all ANZ cards?

We have the ANZ Frequent Flyer and were recently offered to add an Amex companion card... no extra cost, just unlimited points earning potential (visa card capped for firs $1500 per month).

Anyhow, I told them I was happy with the one-for-one points on the visa and didn't want to spoil that by adding the amex or anything. He assured me all it would do is add the extra points potential and the visa earn rate would stay the same! He said to reply via sms which I was going to do over the weekend?

 

[BlueAU]

Is this change across all ANZ cards?

We have the ANZ Frequent Flyer and were recently offered to add an Amex companion card... no extra cost, just unlimited points earning potential (visa card capped for firs $1500 per month).

Anyhow, I told them I was happy with the one-for-one points on the visa and didn't want to spoil that by adding the amex or anything. He assured me all it would do is add the extra points potential and the visa earn rate would stay the same! He said to reply via sms which I was going to do over the weekend?

I too got the cards but never activated them, as they are 1:1. I have an AMEX which is 1:1.25 so why bother. I didn't want the risk of them thinking I accepted their new tricky T&C!

 

[Ms Lucy]

Is this change across all ANZ cards?

We have the ANZ Frequent Flyer and were recently offered to add an Amex companion card... no extra cost, just unlimited points earning potential (visa card capped for firs $1500 per month).

Anyhow, I told them I was happy with the one-for-one points on the visa and didn't want to spoil that by adding the amex or anything. He assured me all it would do is add the extra points potential and the visa earn rate would stay the same! He said to reply via sms which I was going to do over the weekend?

The "offer" I got seems to be advising that there would be no increase in fee if I did take up the new AMEX card in addition to the Visa, but that my earn rate on the Visa will drop regardless. (Interesting that the guy told you that your Visa rate would stay the same!)

 

[serfty]

I'll await my next statement ... due any day ...

Arrived today ... nothing in it specific to changes to my Plat Visa. The yearly renewal month is May, so I'll see what happens before than.

There was a 'brochure' indicating a new scheme with an note for existing account holder to make a call to find out more.

 

[trippin_the_rift]

The offer also states 2.5 points per $spent for the first 3 months when taking up the new offer.

Could be worth it if you can put more than 20k/mo through the amex (but useless after 3 months)

 

[russianrob]

ANZ seem to be sending us all different dates for these changes.
My letter stated Dec, and that the points would change whether I accepted the Amex or not! Very carefully written, and not immediately obvious if you were just quick scanning. :shock: