ANZ Balance Visa Credit Card Review

Information verified correct on September 26th, 2016

Earn rewards points as you repay your balance and save with interest-free days on purchases with the ANZ Balance Visa.

It’s Australia’s only credit card to reward you for reducing your balance. See how this card compares to other Rewards Credit Cards and other ANZ Credit Cards.

Product NameANZ Balance Visa
Rewards ProgramANZ Balance Visa Rewards
Purchase rate (p.a.)13.99% p.a.
Annual fee$79 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)21.74% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$1,000
Max credit limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$15,000
Minimum Monthly Repayment2%
Minimum Income$15,000
Card TypeVisa
Late Payment Fee$20
Foreign Currency Conversion Fee (VISA)3% of transaction value
Complimentary Travel InsuranceNo
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Income$15,000
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$1,000
Max Credit Limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$15,000
Annual Fee$79 p.a.
Minimum Repayment2%
Late Payment Fee$20
Over Limit Fee$20
Cash Advance Fee2% of the cash advance amount
Overseas Cash Advance Fee2% fee calculated w/ reference to cash advance amount
Overseas ATM Withdrawal Fee$5
Foreign Currency Conversion Fee (VISA)3% of transaction value
Gambling Transactions AllowedYes
Gambling Transactions Interest RateCash Advance Rate
Additional Cardholder Fee$32 p.a.
Number of Additional Cardholders3
BPAYYes
ChequeYes
Direct DebitYes
Australia PostNo
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes
Rewards ProgramANZ Balance Visa Rewards
Rewards Points per $ (VISA/MC)1
Rewards Points per $ (AMEX)0
Rewards Points per $ (VISA/MC) CapUncapped
Rewards Points per $ (AMEX) CapN/A
Points Expiry36 months

ANZ Balance Visa Credit Card review

Earn 1 Reward Point for every $1 you repay to your balance. You also get the option to choose how often and what you would like to be rewarded – Cashback, Shopping Vouchers or Gift Cards every 3, 6 or 12 months.

Benefits of ANZ Balance Visa Credit Card

  • 1 Reward Point for every $1 you repay to your balance. ANZ Balance Visa rewards you for every dollar you repay on your balances. That includes repayments on the outstanding balances you transfer from non-ANZ credit cards, your regular credit card spending, and interest and fees on your ANZ Balance Visa. You even earn Reward Points for repayments on cash advances and cash equivalent transactions, such as traveller’s cheques.
  • No Reward Points capping. Unlike other credit cards, there is no limit to the number of Reward Points you can earn with ANZ Balance Visa. The more you repay, the more Reward Points you earn. It’s that simple.
  • No Reward Points expiry. Your Reward Points will not expire as long as you have your card account. You can redeem them as they accumulate, or you can save them up for as long as you like to give yourself a special treat.
  • Up to 55 days interest free on purchases. Every time you make a purchase with ANZ Balance Visa, you could enjoy up to 55 days interest free on your purchases (excluding cash equivalent transactions and balance transfers).
  • Earn more Reward Points by transferring your balances. If you have credit or store cards with other financial institutions, transfer your balances to your ANZ Balance Visa and you can earn Reward Points on your repayments.
  • Mobile payment technology. Apple Pay, Android Pay and ANZ Mobile Pay let you use your Apple or Android device to tap and pay with your eligible ANZ credit card.

ANZ Balance Visa Points redemption

  • Cash back

Your points can be redeemed for cash back to your card (this transaction is not eligible to earn points). Just like with vouchers and gift cards you can set up your account to redeem these points manually, annually, periodically, or based on reward value. Just think, you could set it up so that each year right before your birthday your cash back rewards are credited to your account. That would make a nice gift to yourself wouldn’t it?

  • 10,310 points - earns $50 cash back
  • 20,620 points - earns $100 cash back
  • Shopping Voucher And Gift Cards

The other way to redeem your rewards points is to get shopping vouchers and gift cards with them. You can use these to buy something for yourself or for someone else. You can even give the cards to someone as a gift, they will never know that you paid for it with points.The cards come in several different increments so you can choose whether to save up a bunch of points for a big purchase or get smaller denomination cards with less points. The variety of this program is one of the things that makes it great. If you do not spend much on your card, you still have the chance to earn points, if you spend big you simply get more points back. There is something here for every type of spender.

  • 50,000 points. This is a lot of points, so with them you can get one awesome Samsonite Savio Large Laptop Briefcase, or split it up for several smaller gift cards.
  • 24,000 Points. Jamie Oliver Tefal Pro 20cm pan
  • 22,000 Points. Laser Speaker iPhone/iPod Dock
  • 20,000 Points. $100 gift card from David Jones, Myer, Kmart, Harvey World Travel, Bunnings, Dymocks, Rebel Sport or Barbeques Galore.
  • 11,000 Points. Caltex StarCash Gift Card
  • 10,000 Points. $50 gift card from David Jones, Myer, Kmart, Target, Harvey World Travel, Bunnings, Dymocks, iTunes, Rebel Sport or Barbeques Galore
  • 5,000 points. $25 Prouds the Jewellers gift card
  • 4,000 points. $20 gift card from Westfield, Myer, Rebel Sport or Barbeques Galore

With the ANZ Balance Visa it is easy to check the status of your points. All you have to do is log on to their website to see how close you are to your next big reward. They also issue rewards statement two times each year.

Keep in mind that these points are not earned by spending, the are earned when you pay on your balance. Many cards disallow certain types of purchases from their points program. Not with the ANZ Balance card. When you pay back your balance, whether it is on cash advances or cash equivalent transactions like buying traveller’s cheques you are still earning points. The only time you will not earn points is when you redeem your points for cash back, that transaction is not eligible. Otherwise the amount of points you can earn is virtually limitless.

ANZ Balance Visa Credit Card features

Now that you know all about how to earn points with the fabulous ANZ Balance Visa you probably think that is all there is to this card, but that is not all. Owners of this card also gain access to valuable additional features and optional features for your own personal needs.

  • Visa Entertainment. If you want the best seats in the house, then this free program will suit you nicely. You get exclusive offers like pre-sale tickets to entertainment events. Everything from concerts, to theatre, to dance, and exhibits are available through this program. All specially designed for Visa customers to beat the rush and never have to wait in line for tickets again.
  • Designer card. You can design your own card by loading your own picture to it. It can be of you, your family, your dog, your favourite place, whatever you want to see every time you swipe your card. You can even choose from the ANZ Balance Visa library of images to make your card one of a kind.
  • Replacement services. No matter where you are in the world Visa can replace your card right away if it is lost, stolen, or damaged. Help from one of their friendly and professional customer service representatives is just a phone call away any time of day or night.
  • Secure sentinel. If you want added protection to your credit card you can purchase this service for it. It provides a range of services including emergency cash and lost passport assistance for a small annual fee of $44 for a single cardholder and $66 for a family.
  • eDine. The eDine program is an online dining and leisure perks scheme that gives you access to savings at more then 1,500 restaurants, and more then 1,000 hotels and attractions in Australia and New Zealand. Once you are a member you can easily download the discount vouchers to take with your when you travel or go out for dinner. These vouchers give you 20% off your bill at participating restaurants and 50% off the rack rate at hotels and resorts or 10% off (selected) promotional rates. It is open to all ANZ cardholders for a cost of only $35 per year.
  • ANZ Wine Club. For those who like the best wines in the industry at the best prices, the wine club is a perfect addition. You get regular newsletters and mailings with special offers and discounts. You also gain access to trained wine experts to help you choose and enjoy wines. This program also provides at home delivery and a money back guarantee on all orders.
  • ANZ Car Rental Cover. If you have ever had a near miss in a rental car you know how important it is to have great cover on them. The ANZ offers great coverage with an excess of $350 and a maximum liability to you of $2,050 for just $24 a year. Most rental car companies charge between $20 and $30 a day for less coverage. As an ANZ Balance Visa cardholder you get better cover for less cost.
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How to apply for the ANZ Balance Visa Credit Card

Application Requirements 

This application will take you 10-15 minutes to complete. A response will be sent to you within 60 seconds. You will need:

  • Your Australian Driver’s licence (if applicable)
  • Your employer’s address and contact number
  • Your accountant’s name and contact number (if self-employed)
  • Details of your income, assets and liabilities. A credit limit will be offered based on the information you provide within the credit card section of this application.

Eligibility criteria

To be eligible for an ANZ credit card you must:

  • Be over 18 years of age
  • Have a good credit rating
  • Be a permanent Australian resident, earning a minimum annual income of $15,000. If you require a Gold Card or you are a non-permanent Australian Resident, you must earn a minimum of $15,000. Temporary residents with 457 working visa are also eligible, provided the visa must be valid and have at least 9 months remaining from the date of application.
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Frequently asked questions

Is this application secure?

All pages within ANZ online application forms are encrypted with 128-bit SSL encryption. See the ANZ Website Privacy and Security Statement for further information. Within the ANZ online application forms, a default of 15 minutes has been set for which your session can remain unattended. After this time, the system automatically ends your session and any data you have entered will be lost. In addition, you are responsible for your own computer’s anti-virus and security measures to help prevent unauthorised access to your personal or financial information.

How long will the application take to complete?

The application will take approximately 20 minutes to complete.

What documents do I require?

To complete the application you will require details of your income, assets and liabilities. Other information you may need, includes:

  • Your employer’s address and contact number (as listed in the White Pages)
  • If self-employed, your accountant’s name and contact number
  • Driver’s Licence (if applicable)

What happens when I submit my application?

Once you have completed and submitted your application, you will receive a response within 60 seconds indicating the application outcome. An email will also be sent to you informing you of the outcome.

Can I apply for an additional card?

Yes. You may choose to allow family and friends to access your credit card account by issuing additional cards. With one account you can operate multiple credit cards with just one bill to manage each month. For some card types, fees apply per additional cardholder. Refer to the www.anz.com Credit Card pages for further details. As principal account holder you are responsible for all transactions made on your account. The additional cardholder has access to the same credit limit as the principal account holder. The principal account holder can cancel any additional cards or remove any additional cardholders if they wish.

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6 Responses to ANZ Balance Visa Credit Card Review

  1. Default Gravatar
    Bill | January 26, 2016

    Can points earned from a ANZ Balance Visa Credit Card be converted to velocity frequent flyer points and if so at what conversion rate?

    • Staff
      Jonathan | January 27, 2016

      Hi Bill, thanks for your inquiry!

      Unfortunately the ANZ Balance Visa is excluded from frequent flyer point transferring with rewards points, since only ANZ Rewards credit cards (ANZ Rewards, Platinum, Black) allow this feature. You can compare these credit cards on the main ANZ credit card page.

      Cheers,

      Jonathan

  2. Default Gravatar
    Sherri | March 30, 2015

    I receive $18,000 from Centrelink as I am on a Disability Payment. My Husband also earns $18, 000 per annum as he is on a Disability payment as well. I am looking to change cards to catch up on paying off my Credit Card, with a 0 percent for a certain time to do so. I am currently paying nearly triple on my existing card, a great credit history. Though no job. Would you be able to help me?

    • Staff
      Jonathan | March 31, 2015

      Hi Sherri, thanks for getting in touch with us.

      Please note that finder.com.au is a comparison service and is not directly affiliated with ANZ. It would be best to speak directly to a bank either through their customer service centre or local branch so they could best advise on your options. Please see the following link for a list of balance transfer credit cards.

      Cheers,

      Jonathan

  3. Default Gravatar
    | January 13, 2015

    Can I swop my existing ANZ credit card to this card?

    • Staff
      Jonathan | January 13, 2015

      Hi Louise,

      Thanks for your question,

      To change your credit card:
      - log onto ANZ internet banking
      - Go to the “View Accounts” landing page, which is the first page you see when you log on to ANZ Internet Banking. If you cannot locate it, go to the “Accounts” menu and select “View Accounts”
      - Select your credit card account by clicking on the account name
      - From the “Account Overview” page, click on the “Change your Credit Card type” link and follow the steps below.

      I hope this helps!

      Cheers,

      Jonathan

Credit Cards Comparison

Rates last updated September 26th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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