- Bonus points: Earn 70,000 bonus Velocity Points when you spend $2000 on eligible purchases in the first 3 months, plus an additional 30,000 Points when you keep the card for more than 15 months. You also need to turn on auto-redemption, so that your points convert automatically to Velocity Points. Offer ends 15 November 2024.
- Earning points: Receive 1.5 ANZ Reward Points per $1 spent on eligible purchases up to $2000 per statement period (0.5 points after that). These points are converted to Velocity Points at a rate of 2 ANZ Points to 1 Velocity Point (which equals 0.75 Velocity points per $1).
- Low annual fee: $149 per year
- Travel insurance: Get complimentary international and domestic travel insurance, as well as rental vehicle excess cover in Australia.
- Card insurances: Use purchase protection insurance and extended warranty insurance.
- Extras: 24/7 concierge services to help with bookings, travel, gift ideas and more, plus add up to 9 additional cardholders. Syncs with Apple Pay, Google Pay, Samsung Pay, Fitbit Pay and Garmin Pay.
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ANZ Credit Cards
Discontinued: ANZ Rewards Platinum – Velocity Offer Card
Updated 18 November 2024
This card is no longer available for application. This information has been left for those who still have the card or were previously interested.
A stellar card packed with points, the ANZ Rewards Platinum Velocity card will deliver up to 100,000 Velocity points in your pocket (and it won’t cost the earth in annual fees). Use your points at retail stores, for cashback on your account, or transfer them to one of many partner airlines. This card also comes with travel insurance and card insurances.
Terms and conditions apply.
Points Earn Rate (per $1 spent)
0.75 points
(1.5 ANZ Reward Points converted to Velocity 2:1). Capped at $2000, then 0.5 ANZ Rewards pts per $1
Rewards Program
Velocity Frequent Flyer
Bonus Points
70,000 pts
+ 30,000 points when you keep the card for 15 months. Conditions apply.
Pros and cons
- Each additional cardholder costs $65 annually
- High interest rates
Creditcard.com.au review
Editor Review
Discontinued: ANZ Rewards Platinum – Velocity Offer Card
Pauline Hatch
Pauline is a personal finance expert at CreditCard.com.au, with 9 years in money, budgeting and property reporting under her belt. Ask Pauline a Question about this card.
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Overall Rating
ANZ has taken one of its most popular cards and given you a new way to earn and redeem points: this time earning Velocity Frequent Flyer points rather than ANZ Rewards.
The ANZ Rewards Platinum - Velocity Card has a $149 annual fee, which is surprisingly low considering it has a huge sign-up bonus offer and comes with a bevy of travel insurances. It’s a great way to earn points on your everyday spending that can make travel cheaper, but it does come with some conditions.
What I love about the ANZ Rewards Platinum - Velocity card
Before we get stuck into the details of this credit card, I need to point out how the rewards points work. Even though this is a Velocity card, you’ll still earn ANZ Rewards Points. These points are then automatically converted into Velocity Points, but you must have auto-redemption turned on in your account. I’ll explain how auto-redemption works in a moment.
💡If you want to earn ANZ Rewards Points, check out the original ANZ Rewards Platinum credit card instead.
Let’s look at the benefits of this card first, starting with the bonus points.
Bonus Points: You can earn up to 100,000 Velocity Frequent Flyer points when you sign up as a new cardholder. This breaks down into 70,000 Velocity points when you spend $2000 on eligible purchases in the first 3 months. To earn the other 30,000 you need to keep the card for more than 15 months.
To be eligible for bonus points, you must have auto-redemption turned on within the first 3 months and keep it on. You’ll receive a redemption email or SMS with a Reward Code to claim your points once you meet all the criteria.
Earning Points: You’ll earn 1.5 ANZ Reward Points per $1 you spend on eligible transactions, which are then automatically converted to Velocity Frequent Flyer points when auto-redemption is turned on. Ultimately you'll earn 0.75 Velocity Points per $1.Once you’ve spent $2000 on your card in a statement period, the ANZ Reward points will drop to 0.5 points per $1.
Travel insurance: The travel insurance includes both international and domestic travel. It also comes with vehicle rental excess insurance, which is a very helpful insurance when you’re traveling.
Personal concierge: The 24/7 concierge is a platinum perk where you can call an ANZ concierge anytime to make bookings, purchase gifts, create travel itineraries, buy tickets and much more.
Visa Offers + Perks: Visa cardholders can find discounts and exclusive deals on travel, entertainment, dining and retail stores.
Activating your Velocity Points
To make sure you’re earning Velocity Frequent Flyer Points, you need to have your auto-redemption turned on within 3 months of being approved. Here’s how:
- Join ANZ Rewards and Velocity Frequent Flyer if you’re not already a member.
- Log into your ANZ Rewards account and switch on ‘auto-redemption’. You’ll be prompted to enter your Velocity Member number.
- Keep auto-redemption on until you receive a redemption email or SMS with a Reward Code to claim your 70,000 and 30,000 bonus Velocity Points. Remember you need to also spend at least $2000 on your card in the first 3 months.
What’s not so great
While this card has plenty of rewards points and travel perks, it also comes with a high interest rate of 20.99% p.a. You’ll get the most value out of your rewards points by paying off your card each month to avoid interest.
Additional cardholders will help you earn points faster, but there is a $65 per year, per person fee that comes with it.
You also won’t be eligible for the bonus points if you currently have or have had an ANZ Rewards Black, ANZ Rewards Platinum, ANZ Rewards Travel Adventure or an ANZ Rewards credit card in the last 12 months.
Who suits the ANZ Rewards Platinum - Velocity card?
This card could suit people who want to earn frequent flyer points that can be used for Virgin Airlines and its airline partners. It could be a good fit for globetrotters, with its free travel insurances and concierge services.
User reviews
Rates and fees
Interest rates
Purchase rate 20.99% p.a.
Cash advance rate 21.99% p.a.
Interest free period on purchases up to 44 days
Balance transfer
Balance transfer rate 21.99% p.a.
Balance transfer revert rate 21.99% p.a.
Balance transfer from personal loan No
Balance transfer fee No fee
Balance transfer limit N/A
Brands you can't balance transfer from ANZ
Credit limits
Minimum credit limit $6,000
Maximum credit limit N/A
Fees & repayments
Annual fee $149 p.a.
Additional cardholder fee Up to 9 - $65 p.a. each
Foreign transaction fee 3%
Minimum repayment 2% or $25, whichever is greater
Cash advance fee Consumer: 3% (in Australia); 3% of the amount or $4, whichever is greater (for overseas); Commercial: 1.50% or $1.50 whichever is greater
Late payment fee $20
Rewards and points
Rewards program
Rewards Program
Velocity Frequent Flyer
Bonus points 70,000 points
Annual points cap uncapped
Bonus points spend criteria + 30,000 points when you keep the card for 15 months. Conditions apply.
Earning points with this card
Velocity Rewards points 0.75 points per $1 spent
Points cap per month (1.5 ANZ Reward Points converted to Velocity 2:1). Capped at $2000, then 0.5 ANZ Rewards pts per $1
Overseas earn rate same as standard earn rate
Additional features
Complimentary insurance
International Travel Insurance Yes - up to 3 consecutive months
Flight Inconvenience Insurance No
Transit Accident Insurance No
Smartphone Screen Insurance No
Purchase Protection Insurance Yes
Extended Warranty Insurance Yes
Rental Vehicle Excess In Australia Insurance Yes
Extras
Travel insurance underwritten by Allianz global assistance
Compatible with Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, and Garmin Pay.
Domestic Travel Insurance
Overview
Discontinued: ANZ Rewards Platinum – Velocity Offer Card
Key features
Minimum criteria to apply for this card
-
Be over 18 years old
-
Good Credit and have not applied for multiple credit cards recently
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Permanent Australian resident or non-permanent resident with more than 12 months remaining on your Visa
You have your personal details ready to complete the online application
Pauline is a personal finance expert at CreditCard.com.au, with 9 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger
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