QANTAS ANZ card has even further deteriorated... to rubbish
QANTAS ANZ card has even further deteriorated... to rubbish.
Discuss QANTAS ANZ card has even further deteriorated... to rubbish, on the ANZ Credit Card Rewards forum of FrequentFlyer.com.au, the home of frequent flyers.
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QANTAS ANZ card has even further deteriorated... to rubbish
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!!!!!
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.
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Member of: Qantas FF, American Airlines AAdv, NW WorldPerks
Posts: 3,762
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.
__________________ FF Programs: QFF Gold (OW Sapphire) QC Life, LTSilver & 57.5% to LTG, AAdv (24.35% to LTG), NW. Hotel: PC Plat, Hyatt GP Gold, HHonors Gold, SPG, Marriott Rewards, PriorityGUEST. Car Rental: Avis Pref, Hertz No 1 Cards: Amex Plat, Visa Plat.
Flown 585 sectors totalling 821,765 miles since March 03, 1988 (ba97.com)
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%.
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.
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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!
Member of: Qantas FF, American Airlines AAdv, NW WorldPerks
Posts: 3,762
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.
__________________ FF Programs: QFF Gold (OW Sapphire) QC Life, LTSilver & 57.5% to LTG, AAdv (24.35% to LTG), NW. Hotel: PC Plat, Hyatt GP Gold, HHonors Gold, SPG, Marriott Rewards, PriorityGUEST. Car Rental: Avis Pref, Hertz No 1 Cards: Amex Plat, Visa Plat.
Flown 585 sectors totalling 821,765 miles since March 03, 1988 (ba97.com)
Member of: Qantas FF, American Airlines AAdv, NW WorldPerks
Posts: 3,762
Quote:
Originally Posted by kristo
Also Lindsay can you tell me the web site addresses of the other forums you frequent as I am interested in them.
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.
__________________ FF Programs: QFF Gold (OW Sapphire) QC Life, LTSilver & 57.5% to LTG, AAdv (24.35% to LTG), NW. Hotel: PC Plat, Hyatt GP Gold, HHonors Gold, SPG, Marriott Rewards, PriorityGUEST. Car Rental: Avis Pref, Hertz No 1 Cards: Amex Plat, Visa Plat.
Flown 585 sectors totalling 821,765 miles since March 03, 1988 (ba97.com)
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.
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