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The offer to transfer 13750 points for $100 cash back is still on their website. ANZ Rewards Visa
This initially sounded pretty good compared with Citibank's 20000 points per $100 cash back, but looking at the small print ANZ rewards card has a points earn rate of 1 point for every $1.50 spent! So effectively the Citibank spend for $100 is ever so slightly better.
This brings me to another point though. Looking at the ANZ website and comparing cards, the only place I could find the 1 point for $1.50 rate for the Rewards Visa was in the pdf Terms and Conditions towards the end of the document. I could not find it stated up front in the advertising. In contrast the ANZ FF Visa prominently states the 1:1 rate for it in the promotional material.
Sometimes the advertising in this industry would seem to inform the consumer well. For example, ongoing interest rates (after the promotional period), cash advance and other fees, differential purchase/cash advance rates, annual fees after the first year, methods of calculating interest free days, are not explicity. Although I am singling out ANZ for the 1:1.50 points earning rate being difficult to find (for me at least), the other comments refer to other players in the industry.