ANZ Rewards Black - Velocity Redemption Option Credit Card

The ANZ Rewards Black - Velocity Redemption Option Credit Card offers 40,000 bonus Velocity Points. Ongoing benefits include Velocity Points via Velocity Frequent Flyer earned on everyday purchases, and complimentary travel insurance.

Updated 18 May 2022

* See details below

Expert Review

The ANZ Rewards Black - Velocity Redemption Option credit card is ANZ's premium Velocity Frequent Flyer product. Featuring a relatively high points earn rate which is uncapped, the card provides premium features such as insurances. This card earns ANZ Reward Points, which can be converted to a variety of rewards, including Velocity Points. Of the 200+ credit cards reviewed by Stay or Go, this card ranks among the best 25% points earn rates, for an average spend of $5,000 per month. Further, the product has a $375 annual fee, including up to 55 interest free days.

Considering its key features, this card is most suitable to someone who wishes to be rewarded for their spend. Other benefits include Overseas Travel and Medical Insurance which is similar to equivalent products.

Product Details
Our highest Reward Points earning potential, uncapped flexible rewards, plus access to exclusive events and privileges."

Earn Velocity Points via ANZ Rewards#

1point per $1 spent up to $5,000, then 0.5 per statement

# This product earns ANZ Reward Points which can be converted to Velocity Points. For your convenience, all above references to points are in the Velocity Points currency.

Account Fees

$320 annual account fee

$55 rewards fee

Additional Cardholder Fees

$10 additional cardholder fee

$55 additional cardholder rewards fee

Up to 9 additional cardholders

Transaction Fees

3.00% international transaction fee

Other fees may apply.


20.24% p.a. purchase rate

21.24% p.a. cash advance rate

Up to 55 interest fee days on purchases


International Travel Insurance

Domestic Travel Insurance

Rental Vehicle Excess in Australia Insurance

Extended Warranty Insurance

Purchase Protection Insurance

Bonus Points Offer

40,000bonus points

$0annual fee in first year

Earn 80,000 extra ANZ Reward Points (equal to 40,000 Flybuys Points) and $0 annual fee in the first year with your new ANZ Rewards Black credit card. Extra ANZ Reward Points earned when you spend $2,000 on eligible purchases in the first 3 months from approval. T&Cs, eligibility criteria, fees and charges apply (including an annual fee, currently $375 after the first year).
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Before applying for this product, you should read the Target Market Determination (TMD) available here on the ANZ website.

points per
$1 spend*
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^ Credit card reward programs can be difficult to compare due to tiered and capped points earn rate structures. To simplify comparison, we estimate the number of points you could earn per $1 spent, assuming $5,000 of spend on eligible purchases each month.
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