ANZ extends Qantas free points offer
Australian bank ANZ have announced an extension of their 10,000 free Qantas frequent flyer points offer in response to strong consumer demand. The ANZ Frequent Flyer Visa is one of a host of Australian credit cards offering airline reward points in an increasingly competitive market. The ANZ Frequent Flyer Visa competes against other cards offering
Qantas points such as those offered by AMEX. There is also competition
from NAB in the form of the Velocity credit card. The Qantas frequent flyer program is Australia's most popular scheme and allows for flights to booked throughout their extensive domestic and international market. Qantas points can now be redeemed on Jetstar flights which increases the number of options available. New customers applying for the ANZ Frequent Flyer Visa before the end of March are being offered 10,000 bonus Qantas frequent flyer points when they make their first purchase. 10,000 is more than enough (excluding taxes) for a return flight between Sydney-Brisbane or Brisbane to Sydney or Brisbane. The card is not suited to everyone. The interest rate on the card is 19.24% which is quite high. If you tend to carry over a balance each month and incur interest on a credit card then a low interest credit card may be a better option than a rewards card. However, ANZ are offering a very low balance transfer rate of 2.9% p.a. on balance transfers. If you have an existing credit card balance this could be a good way to pay the debt off at a low rate. If you pay your credit card balance each month in full then the interest rate should be off little concern. In fact, you should look at how your credit card can reward you. The chart below shows how many return domestic fares (based on 8000 points per return flight, excluding taxes) you could earn in the first year of owning the card. The figures include the 10,000 bonus points offer but excludes other bonus points which may be earned when purchasing products from Qantas or Qantas partners.
| $ spend per month | Annual Qantas Points Earned | Bonus Points | Total in year 1 | Number of return flights earned | | $1000 | 12,000 | 10,000 | 22,000 | 2.75 | | $2000 | 24,000 | 10,000 | 34,000 | 4.25 | | $3000 | 36,000 | 10,000 | 46,000 | 5.75 |
As you can see if your spending $2000-$3000 per month it's quite possible to earn 4-5 return domestic flights within the first year. Of course you can always save the points and put them towards a bigger trip. If you have a dream destination, why not check how many points you would need using the Qantas points calculator. To qualify for the offer you must: - Apply by the end of March 2007
- Make first purchase on card by end of April 2007
It's possible to apply online for the ANZ Frequent Flyer Visa and a decision is usually received within 60 seconds.
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