ANZ Platinum Credit Card

What is the ANZ Platinum?

The ANZ Platinum is a straightforward, non-rewards credit card offered by the Australia and New Zealand Banking Group. It is designed for consumers who want premium card benefits, such as complimentary insurances and concierge services, without paying a high premium rewards fee. Because it does not earn loyalty points, its primary practical use case is providing everyday utility and travel coverage for users who can pay their balances in full.

Why you might consider it

This card stands out for its strong initial offer and ongoing fee waivers for higher spenders. If you meet the spending thresholds, it can be a highly cost-effective way to secure platinum-level perks.

Consider these key advantages:

• Welcome bonus: Earn a $450 credit back when you spend $4,500 on eligible purchases in the first four months.
• Fee waivers: Enjoy an introductory $0 annual fee in the first year. After that, the ongoing annual fee of A$87.00 is waived completely each year you spend $20,000 or more on eligible purchases.
• Complimentary insurances: Access international and domestic travel insurance, rental vehicle excess cover in Australia, extended warranty, and purchase protection.
• Extra value: Add up to nine additional cardholders at no extra cost and utilise a 24/7 personal concierge service.

However, there are notable limitations to keep in mind. This card does not earn any ANZ Reward or Qantas points. Applicants face a strict $6,000 minimum credit limit, and the card carries a high variable purchase interest rate. Additionally, be aware that complimentary travel insurance limits and cover periods are scheduled for reduction starting in December 2026.

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About Australia and New Zealand Banking Group

The Australia and New Zealand Banking Group (ANZ) is one of Australia's largest and most established financial institutions. It operates as a hybrid banking powerhouse, offering both traditional in-branch services and modern digital solutions like the ANZ Plus app. This app empowers users to track spending, set savings goals, and manage multiple accounts directly from their smartphones.

ANZ provides a comprehensive suite of financial products across the country. Their primary offerings span everyday bank accounts, term deposits, home and personal loans, superannuation, and various insurance policies.

For consumers seeking trust signals, ANZ is fully regulated by ASIC under Australian credit licence number 234527. Cardholders are protected by ANZ Falcon, a 24/7 anti-fraud monitoring system. Additionally, the bank offers a fraud money-back guarantee for unauthorized transactions, provided users adhere to the product terms and conditions.

Who this card is for (and not for)

The ANZ Platinum is distinctly tailored for a specific type of practical spender. The ideal user is someone who easily charges more than $20,000 a year in everyday expenses to their card and always pays their balance in full. By treating this card as a primary payment method for groceries, utilities, and domestic travel, these users effortlessly unlock the annual fee waiver.

This profile also includes moderate travellers who value complimentary international and domestic travel insurance but prefer a straightforward product. If you enjoy having a 24/7 personal concierge to book restaurants or secure travel recommendations without navigating a complex rewards portal, this card fits the bill perfectly.

However, several consumer profiles should steer clear of this product. Consider looking elsewhere if you fit any of the following categories:

• Balance carriers: The card carries a high variable purchase interest rate, making it incredibly expensive if you do not clear your balance every month.
• Points chasers: This card explicitly earns no ANZ Reward Points and no Qantas Points.
• Low spenders: If your annual eligible spending falls below $20,000, you will be stuck paying the standard annual fee of A$87.00.
• Frequent international shoppers: With a 3.5% foreign transaction fee, buying goods from overseas or travelling frequently will incur significant extra costs.

Furthermore, applicants seeking a low-limit starter card will be disappointed. The strict $6,000 minimum credit limit requires a solid income and an established credit history to secure approval.