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ANZ is raising interest rates and cash advance fees, capping the points you can earn on its rewards and frequent flyer cards, and cutting back complimentary travel insurance. The changes roll out in stages: rates went up on 28 September 2026, fees and points caps follow on 28 October 2026, and insurance changes on 9 December 2026 and 24 March 2027.
If you’ve got an ANZ credit card in your wallet, here’s what’s changing, which cards are affected and what it could cost you.
Key numbers
- 28 September 2026: standard purchase rate rose to 22.49% p.a. on most affected cards (already in effect)
- 28 October 2026: cash advance fee goes from 3% (min $3, max $20) to 3.5% (min $4, max $50)
- 28 October 2026: no points on spend above $25,000 (Platinum cards) or $50,000 (Black cards) per statement period
- 9 December 2026 and 24 March 2027: travel insurance reduced or removed on several cards
Methodology: changes taken from ANZ’s “Important changes to ANZ credit cards” notice, and current rates from our card pages, both checked 30 September 2026.
What’s changing on ANZ credit cards?
| Feature | Before | After |
|---|---|---|
| Standard purchase rate (most cards, changed 28 Sep 2026) | 20.99% p.a.* | 22.49% p.a. |
| Cash advance and balance transfer rate (changed 28 Sep 2026) | 21.99% p.a.* | 23.49% p.a. |
| Cash advance fee (from 28 Oct 2026) | 3% (min $3, max $20) | 3.5% (min $4, max $50) |
| ANZ Frequent Flyer Platinum points (from 28 Oct 2026) | 0.75 Qantas Points per $1 up to $3,000, then 0.5, with no cap | Same tiers, but no points on spend over $25,000 per statement period |
| ANZ Frequent Flyer Black points (from 28 Oct 2026) | 1 Qantas Point per $1 up to $7,500, then 0.5, with no cap | Same tiers, but no points on spend over $50,000 per statement period |
| ANZ Rewards Platinum points (from 28 Oct 2026) | 1.5 Reward Points per $1 up to $2,000, then 0.5, with no cap | Same tiers, but no points on spend over $25,000 per statement period |
| ANZ Rewards Black points (from 28 Oct 2026) | 2 Reward Points per $1 up to $5,000, then 1, with no cap | Same tiers, but no points on spend over $50,000 per statement period |
| Travel insurance: ANZ Platinum and Frequent Flyer Platinum (from 9 Dec 2026) | International cover up to 3 months, trip cancellation $20,000, liability $3 million | Up to 1 month, $10,000 and $1 million |
| Travel insurance: ANZ Rewards Platinum (from 9 Dec 2026) | International and domestic travel, rental vehicle excess | Removed (purchase protection and extended warranty stay) |
| Travel insurance: ANZ Frequent Flyer Black (from 24 Mar 2027) | International cover up to 6 months, trip cancellation $20,000, liability $3 million | Up to 2 consecutive months, $10,000 and $1 million |
| Travel insurance: ANZ Rewards Black (from 24 Mar 2027) | Complimentary travel insurance included | Removed (purchase protection and extended warranty stay) |
*Rates before 28 September 2026, as listed on our card pages. ANZ says the ANZ Low Rate purchase rate stays at 13.74% p.a.
Which cards are affected?
ANZ’s notice covers these cards that we list:
- ANZ Frequent Flyer Black: rates, cash advance fee, points cap and insurance
- ANZ Frequent Flyer Platinum: rates, cash advance fee, points cap and insurance
- ANZ Rewards Black: rates, cash advance fee, points cap and insurance
- ANZ Rewards Platinum (including the Velocity offer): rates, cash advance fee, points cap and insurance
- ANZ Platinum: rates, cash advance fee and insurance
- ANZ First and ANZ Low Rate: cash advance fee and rates (the Low Rate purchase rate is unchanged)
ANZ’s business cards aren’t part of this notice.
What does it mean for you?
For most people, the points caps won’t bite. $25,000 in a single statement period is a lot of spending. Where you’ll notice it is a big one-off purchase, like a car deposit, a wedding or a renovation bill.
Here’s a worked example on the ANZ Frequent Flyer Platinum with $30,000 spent in one statement period:
- Now: $3,000 × 0.75 + $27,000 × 0.5 = 15,750 Qantas Points
- From 28 October: $3,000 × 0.75 + $22,000 × 0.5 = 13,250 Qantas Points
- Difference: 2,500 points, or ~$62 at our frequent flyer points valuation of 2.47 cents per point (flight redemptions only)
The cash advance fee is where the change is easiest to feel. A $1,000 cash advance currently costs $20 (the 3 per cent fee hits the $20 maximum). From 28 October, it’s 3.5 per cent, so $35. And that’s before interest, which starts from day one on cash advances.
If you rely on your card’s complimentary travel insurance, check your dates. Trips booked now for after 9 December 2026 (or 24 March 2027 for the Black cards) may have less cover, or none at all on ANZ Rewards Platinum and Rewards Black.
What can you do?
- Keep the card if the changes don’t touch how you use it. If you spend well under the caps and don’t use cash advances, you may barely notice.
- Time big purchases. If a large expense is coming, spreading it across two statement periods can keep you under the cap (as long as you can still pay in full).
- Review your travel cover before booking trips that fall after the insurance change dates. Our guide to credit cards with free travel insurance can help.
- Compare alternatives on our ANZ credit cards page, or read our guide to the ANZ Rewards program.
Tip: Avoid cash advances on any credit card if you can. Between the new 3.5 per cent fee and interest from day one, it’s one of the most expensive ways to borrow.
As for why, ANZ says it regularly reviews its products, fees and features “to reflect changes in market conditions”.
“If you’re an ANZ cardholder, the insurance changes are the ones I’d put in your diary. Plenty of people choose a card because of the travel cover, so if that’s you, check what you’ll still have before your next trip.”
Pauline Hatch, credit card expert at CreditCard.com.au
Frequently asked questions
When do the ANZ credit card changes start?
Interest rates went up on 28 September 2026. The cash advance fee and points caps start on 28 October 2026 (points caps apply to statements from 28 November 2026). Insurance changes follow on 9 December 2026 and 24 March 2027, depending on the card.
Will I lose the points I’ve already earned?
ANZ’s notice is about how many points you earn from 28 October 2026. It doesn’t say existing points balances are changing.
Do bonus points on Qantas purchases change?
According to ANZ, the bonus Qantas Points on eligible Qantas products for the Frequent Flyer cards aren’t changing.
Is ANZ the only bank making changes?
No. Several major banks have announced changes to rates, rewards and insurance around the same time, so it’s worth checking any notices from your own bank.
General advice only: this article is general information and doesn’t take into account your objectives, financial situation or needs. Consider the Target Market Determination (TMD) and the terms and conditions before applying for or keeping any credit card. Changes are as stated in ANZ’s “Important changes to ANZ credit cards” notice (anz.com.au). Card details are correct as at 30 September 2026 and can change.
Pauline Hatch
Pauline is a personal finance expert at CreditCard.com.au, with 9 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger.
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