QANTAS ANZ card has even further deteriorated... to rubbish

Discussion in 'ANZ Credit Card Rewards' started by arun, Sep 16, 2003.

  1. arun

    arun Member

    Sep 5, 2002
    311
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    Sydney
    New changes to QANZ card:
    1. Card name - ANZ Frequent Flyer Visa Card
    2. 1 point per dollar up to $1500 per month (2500 for Gold) then 0.5 (only) for amounts up to $5000 ($10000 for gold) and then...... no points!!!!!
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    To be honest, they claim that they have over 1 million QANZ card holders. I know that some card holders get the real value (hotel bonus points, etc). But the majority may not be probably aware that this is probably the most expensive card and now one of the worst value cards.

    Incidentally, ANZ is launching a co-branded Diners card that has no limits on the ponits.
     
  2. QF WP

    Moderator

    Jun 20, 2002
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    Yes, these changes have been discussed vigorously in other forums I frequent...will have to make me look at this and will probably make my Citibank Platinum Visa look even better.
     
  3. kristo

    kristo Intern

    Feb 23, 2003
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    Yes, these latest changes bring the rate of rewards on the ANZ Telstra Visa down to .5% for cash and voucher rewards.That is, you must spend $9900 to get $50.
    That compares with CBA at 0.69%, Citibank at 0.84%, HSBC at 0.80% and a few 44days only interest free cards at around 0.08%.
     
  4. QF WP

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    [(deleted...duplicate post)
     
  5. QF WP

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    Kristo, thanks for doing the calculation...looks like my CB Visa just scored an enormous lift in output for me...
     
  6. kristo

    kristo Intern

    Feb 23, 2003
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    Lindsay, this "lift in output" as you desciribe is only relative to its competition. CBA had wound back its reward scheme too a few months ago.
    In fact all banks are likely to do the same as ANZ due to the reduction in profits from cards due to the Reserve Bank changes to merchant fees.
    Also Lindsay can you tell me the web site addresses of the other forums you frequent as I am interested in them.
     
  7. Gazle

    Gazle Newbie

    Sep 17, 2003
    2
    0
    Melbourne
    ANZ QANTAS CC - Bite My Bum

    On checking the small print on the web and seeing that the changes are in fact horrendous to my FF accumulation, I rang ANZ and told them I was cancelling the lot and going to Citibank.

    Their reaction was quite suprising (or am I too cynical?) They actually seemed nervous and defensive about the changes and kept reassuring me that i would be receiving many offers in the coming week which I will be happy with - (I assume the Diners offer - which I told them was useless to me with non acceptance of the card in 50% of the purchases and bills I use cc for - I already face the same problem with my AMP AMEX)

    Their reaction to my cancellation was far from the disinterested reaction I expected prior to making the call - It makes me wonder.... In the past couple of days are they being flooded with cancellations of the cards due to their ridiculously low monthly point accumlation limits - I HOPE SO! :lol:
     
  8. QF WP

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    Kristo, sorry, my "lift in output" means how much I am going to charge to my CB Plat Visa...I'll continue putting only my flights on my QANZ Gold Visa until the double points go (as my monthly spend is ~ $1,500 to $2,500 on QF flights).

    Gazle , perhaps that showed that they mis-understood what the public would do. Most knee-jerk reactions are to cancel the card (because people think they only have the card to collect QFF points)...seems ANZ underestimated the groundswell of negative press and are already back-pedalling to try and keep some cardholders...only time will tell.
     
  9. QF WP

    Moderator

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    Come join thadocta, ozstamps, kpc, shillard, willyroo, martynriddle, swissbignose, plus others and me at www.flyertalk.com (go to FT Miles, we mostly post on the Qantas/BA Forums). You'll find me in another guise, but I'm sure you'll work it out.
     
  10. arun

    arun Member

    Sep 5, 2002
    311
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    Sydney
    IMHO, ANZ has made a big mistake in changing the original program. In the earlier program, there was no automatic transfer to QF points. The points just remained in the Qantas Telstra Visa card. When the points remain in the program ANZ does not have to pay anyone. It is also likely that the majority of the card holders leave the points for longer or do not get enough points to get a decent reward. The reward selection also had a mix of both flight and non-flight rewards (some of them were very expensive to us - but cheap for ANZ).
    Now, for every point the cardholder earns, ANZ will have to pay for Qantas as the points are automatically transferred.

    They might have saved some admin costs by changing the program, but looks like it might be an expensive decision.
     
  11. Gazle

    Gazle Newbie

    Sep 17, 2003
    2
    0
    Melbourne
    Additional Card Holder

    Very interesting - following my phone call to ANZ 2 days ago, I have now received 4 followup phone calls. We put between $4000 and $5000 through my qantas visa each month but my husband has a supp card on my account with no FF membership so the points all go to my membership. They really seem to be putting in leg work (or phone work) to stop the stampede.

    What I was amazed to learn - amazed because I always make sure I read the small print and compare all the programs - but this one really snuck by me - or is it very well marketed in a misleading way????

    Interested to hear if Im the only one that was unaware or missed this condition in the small print of the anz qantas card:-

    With the changes of $1500 a month cap before the penalty I decided that I would take my husband off the rewards program as the $55 annual fee is due next month and I am still organising my citibank card before cancelling the ANZ.
    I requested that my husbands supp card remain (with the charge of $10 for this priviledge ha!) and that I do not want his card linked to the rewards when renewal becomes due as I was not going to pay the $55 charge for this due to the changes in the program and the now lack of reason to do so.

    I was informed that due to the anz qantas card being a rewards card and although all the documents table the charge for an additional card holder as $10 and additional rewards program attached to this card as an additional $55 it is fact not an option.
    I was advised that even though it is only an additional card it must be conected to the rewards - so end result is that if you have an additional card holder it is an additional flat fee of $65 per year for that card whether you want it or not.

    This card is really stiching the consumer up now - getting us from every angle. Cant tell you how much in a hurry I am to tell them to shove the whole account - hurry up citibank!
     
  12. arun

    arun Member

    Sep 5, 2002
    311
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    Sydney
    Gazle,
    Have a look at Westpac Altitude card as well. They are quite good.
     
  13. js

    js Intern

    Sep 15, 2003
    76
    5
    Japan
    Extraordinary... Quite hard to believe this card has been turned into such crap :shock:

    What really gets me is that I'm not convinced there are any savings passed on to credit card merchants following the RBA reform - certainly none to the company I work for anyway. Yet this is used as a justification form turning what was a fairly good card into a bit of a joke.

    Also, the savings a/c fee waiver for gold card holders and reduction in the 2% on overseas spend are gone. Could they have made this any worse if they had tried?

    Makes CB Plantinum look relatively good, despite them now not doing balance transfers with points....

    Now, onto the phone to give ANZ an earful. And to kill my savings account, neglible interest was one things but neglible interest + losing the fee waiver is another (... and to start looking for a new mortgage issuer...)
     
  14. Guest

    Guest Guest

    qantas anz visa

    looks to me as if Qantas has pulled out of the co-branding with ANZ visa - hense the name changes and points restrictions pulling the card back to where anz would be without qantas to promote the card.

    Anyone looking for a new card - go westpac altitute... I told the credit analyist i wanted to cancel my anz gold card (because of changes) and move business to westpac.

    3 days later here it is, with DOUBLE the credit limit than ANZ 'gave' me ;))
     
  15. mbeder

    mbeder Member

    Jul 3, 2002
    189
    14
    Sydney
    MY wife and I are both heavy users of the ANZ QT Visa @ $3-5k/month, and have obviously benefitted in the form of FF & Reward points for years (we pay off each month), so it's not really surprising that ANZ (and others) are changing their attitude. We were basically getting points for free just by using their card. We'll be cancelling ours (we also eachh have an AMP Amex) and looking around for another Visa/MCard that will at least provide 1pt for $1. Does anyone have any experience with the CBA/Woolworths EzyBanking MasterCard? It seems pretty good, from the literature, and also provides bonus points for shopping at Woolies and some other outlets, ie similar to ANZ QT VC. We'll also investigate the Westpac Altitude Card.
     
  16. QF WP

    Moderator

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    You could also investigate Citibank's Visacard - either base, Gold or Platinum. See other topics here on AFF for details. I swear by Platinum version (as does shillard), but it does have $100K earnings hurdle.
     
  17. ejh

    ejh Newbie

    Feb 7, 2003
    8
    0
    My wife and I both have Gold Visa cards, we would love to change, however being both recently retired, no one will give us new cards as we are now classed as unemployed, so we are stuck with ANZ or nothing.
     
  18. arun

    arun Member

    Sep 5, 2002
    311
    0
    Sydney
    I read somewhere in the week end papers regarding ANZ scrambling to keep high paying customers by waiving annual fees and awarding bonus points.
    If you have heard or received any such offers, I will be interested to hear.
     
  19. Craigo

    Craigo Intern

    Sep 22, 2003
    63
    0
    Canberra
    I had a Qantas Telstra Visa Card for a number of years, but I cancelled it in May when they hiked up the annual fees. I'm banking with the Commonwealth, so I got a Gold Visa which has an annual fee $20 more than the ANZ card but with free travel insurance when I book tickets on the card. I looked at the Westpac card but decided to go with CBA because of the NetBank benefits.

    I think that ANZ may have made a big mistake as it looks like a lot of people are voting with their feet.
     
  20. willyroo

    willyroo Junior Member

    Jan 14, 2003
    37
    0
    If you do use it primarily with bonus partners - a bit of a read of the fine print reveals:
     
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