ANZ Business Rewards Options Credit Card

Pauline Hatch

Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt Ask Pauline a Question about this card.

The ANZ Business Rewards Options Credit Card

Allowing you to earn points on your business spending, the ANZ Business Rewards Options Credit Card offers no Annual Card Fee and no Rewards Fee for the first year, access to a flexible rewards program, with redemption options including Qantas, plus gift cards, shopping vouchers and Points Plus Pay against your card purchases. Aside from rewards, the card also offers insurance cover and business tools that can help track and control spending.

What we love...

The ANZ Business Rewards Options comes with a money-saving introductory offer - no Annual Card Fee (currently $200 p.a.) and no Rewards Fee (currently $75 p.a. per card), allowing new cardholders to save as much as $275 in the first year. To take advantage of this intro offer, you simply need to apply and be approved by 31 March 2022.

As this is a rewards card, it would be remiss of us not to get into its rewards offering first. If you want to earn something back on your business spending, the ANZ Business Rewards Options Credit Card could give you a pretty good bang for your buck. You will earn uncapped points on your spending, with an earn rate of:

• 1 Reward Point per $1 spent on eligible purchases,
• 0.5 Reward Points per $1 spent on taxation payments.

Eligible purchases exclude interest, government charges (apart from taxation payments), fees, balance transfers and cash and cash equivalent transactions. It’s also worth pointing out that while there is no points capping in place on this card, there is points expiry. Any Reward Points you earn will ordinarily expire within 36 months, giving you around three years to save up for the rewards you want.

Earning points on ANZ’s own rewards program, you will have access to a number of redemption options. If you love travel, you could earn points on the Qantas Frequent Flyer program, but bear in mind, to do this you need to be a member of the programs. Alternatively, you could redeem your points for gift cards or shopping vouchers, or cover select card transactions with Points Plus Pay.

Aside from its points-earning potential, the ANZ Business Rewards Options Credit Card also provides a range of functional features that may come in handy for you as a business owner. Tracking spending becomes easy with simple monthly statements with transactions sorted by cardholder, and you can also set monthly spending caps, transaction limits and merchant category controls for each cardholder. In addition to this, you can utilise data feeds to Xero, MYOB, Intuit QuickBooks Online and many others.

What’s not so great...

Comparing cards mean looking at the overall cost of keeping that card, and weighing that against the value of what it has to offer. The standard ongoing annual fee on the ANZ Business Rewards Options Credit Card is quite high – plus after the first year, you will have to pay a Rewards Fee per card each year – but as long as you get more back in rewards and features, then it could still offer you good value. You can also add additional cardholders at no extra cost, helping you to earn points faster.

With a high rate of interest on purchases and cash advances, this card works better for cardholders who clear their balance each month by the due date. If you let interest accrue, you may struggle to find value in the rewards you earn.

Why should you choose this card?

If you want to earn points on ANZ’s flexible rewards program, the ANZ Business Rewards Options Credit Card offers a decent earn rate on most business spending. Aside from the business tools we already mentioned, it can also help you to manage cash flow with up to 40 days interest free on purchases, as long as you pay off your balance by the due date each month.

Other handy features on the card include insurance cover in the form of unauthorised transactions insurance and transit accident insurance. With unauthorised transactions insurance, you can protect your business against fraudulent card misuse for up to $37,500 per cardholder, up to a $200,000 maximum for the total account within any 12 month period. Transit accident insurance covers certain injuries and loss of life sustained on a trip purchased with your card.

Of course, being an ANZ card, it provides the service and support of a big four bank, including protection against fraudulent transactions with ANZ Falcon and the ANZ Fraud Money Back Guarantee.

Overall Rating

Offering no Annual Card Fee and no Rewards Fee for the first year, access to ANZ’s rewards program, the ANZ Business Rewards Options Credit Card makes it easy to earn something back on business spending, while offering a number of functional tools and features.