Interview with ANZ Credit Cards
Posted March 17th, 2010
and last modified April 9th, 2010
ANZ have consistently offered Australian consumers great value credit card offers. We took the opportunity to speak with ANZ, and gain some insight in to ANZ’s direction for 2010 and beyond.
Best ANZ Credit Card
With the ANZ Balance Visa you earn 1 reward point for every dollar you repay on your balance. These points can then be redeemed for rewards with some of Australia’s top retailers. Receiving your monthly credit card statement has never been so rewarding
- $79 annual fee
- 14.24% p.a. on purchases
- 0% p.a. for 6 months on balance transfers
- Cash Advance Rate of 21.49%
- Apply online and receive a response within 60 seconds
Click here to read the ANZ Balance Visa terms and conditions
ANZ has recently led customer satisfaction polls. What do you feel is the biggest contributing factor to Australian’s having a high satisfaction rating of ANZ?
ANZ has been ranked number one of the major four banks in customer satisfaction for almost six years (Roy Morgan) ANZ has a current satisfaction rating of 77.8% (December 2009) and leads NAB (72.4%), CBA (74.5%), and Westpac (74.2%) (January 2010).
We believe our almost six-year lead in customer satisfaction has been the result of sticking to our strategy of making banking more convenient and simple for our customers.
This is about continuing to invest in the things our customers told us were important to them: better access to convenient branches and ATMs (through conveniently located branches, extended branch hours, and doubling our ATM network) simplified products, straightforward and transparent fees ($5-all-you-can-eat account), and informed staff.
With the launch of our new brand last year, we have an even stronger commitment to continue to change the way we do things by understanding what is going on in our customers’ world and making banking more convenient and less complicated.
Credit card security and fraud protection is becoming increasingly important. What sort of initiatives are ANZ taking to combat this issue?
ANZ recently announced the ANZ Fraud Money-Back Guarantee which demonstrates ANZ’s commitment to do whatever it takes to ensure customers’ card security. The Guarantee protects all ANZ cardholders from fraudulent transactions on their ANZ card (provided they didn’t contribute to the loss and notified ANZ promptly of the fraud). All ANZ cards are covered, including credit cards, debit cards and day-to-day transaction account cards.
Since ANZ’s credit card fraud detection tool ANZ Falconâ„¢ was introduced in 2005, ANZ continues to make significant investments in protecting customer’s banking. ANZ Falconâ„¢ is used by the fraud team to monitor the activity of ANZ credit card accounts 24 hours a day, 7 days a week.
ANZ was the first major credit card issuer in Australia to issue chip cards to customers. ANZ has invested extensively over the past few years to ensure that we remain at the forefront of card security. The chip embedded in the card helps protects against skimming as it makes it more difficult to fraudulently copy the credit card details. When used in conjunction with a PIN it will also protect significantly against lost and stolen card fraud.
The strategic use of Verified by Visa and Mastercard Securecode has also been very successful in reducing on-line credit card fraud.
Improved ATM security, such as anti-skimming devices are also in place to reduce the risk to our customers.
The ANZ Low Rate MasterCard has consistently been one of the strongest credit cards on offer with a fantastic balance transfer option. Will the 7.99% p.a. for 6 months on balance transfers offer continue to be available throughout 2010?
The 7.99% p.a. for 6 months offer will continue to be available to our customers. Providing customers with uncomplicated and convenient banking solutions underpins all of our consumer offerings. From time-to-time other attractive balance transfer offers are also available to customers on the ANZ Low Rate MasterCard.
The ANZ Frequent Flyer Visa was recently re-launched. What sort of changes and improvements were introduced for consumers?
In July 2009, the ANZ Frequent Flyer American Express® card was added as a companion card to the existing ANZ Frequent Flyer Visa. As part of this re-launch campaign, consumers are now able to earn more points with the new ANZ Frequent Flyer Card.
Both of these cards share one credit limit, one account balance, one monthly statement, one total annual fee, one statement and a single minimum monthly payment.
The ANZ Frequent Flyer Visa offers new customers an ‘uncapped points earn rate’. Existing customers can also take up the ANZ Frequent Flyer American Express® companion card at no additional cost to maximise their point earnings.
Would ANZ ever consider providing incentives to consumers, for bundling their financial products together (eg: credit cards, savings, home loans etc.), in the same way that insurance products are bundled?
ANZ provides packages such as the Breakfree package which offers customers an ANZ Home or Residential Investment Loan, an ANZ Everyday Banking account and an ANZ Credit Card account. Customers receive discounts on products included within the package – for example, the annual fee on ANZ Gold is waived.
For more information, visit: http://www.anz.com/personal/home%2Dloans/compare%2Dhome%2Dloan/breakfree%2Dhome%2Dloan/
What are some of the main reasons for a consumer to consider applying for an ANZ credit card?
Our approach is about making banking simple and more convenient for our customers. This includes providing uncomplicated and transparent products that meet the individual needs of our customers.
ANZ credit cards have been designed with latest technology like ANZ Falconâ„¢ to help prevent fraud. ANZ Falcon is used to monitor ANZ Credit Cards 24/7.
Customers can feel at ease with the ANZ Fraud Money Back Guarantee – where they won’t be liable for fraudulent transactions on their ANZ card, provided they didn’t contribute to the loss and notified ANZ promptly of the fraud.
What should consumers keep a look out for from ANZ in 2010?
ANZ will continue to invest in what our customers tell us is important to them: simplified products, straightforward and transparent fees and better access to convenient branches and ATMs.
Some of our other key initiatives include:
http://www.anz.com/about-us/our-company/profile/simpler-banking/