ANZ Cashback Visa Credit Card

Roland Bleyer

Credit Card Expert with over 15 years card experience and the founder of Creditcard.co.nz. Ask Roland a Question about this card.

The ANZ Cashback Visa

With the ANZ Cashback Visa you can earn up to 1% cashback on your card spending to spend as you like. No complicated rewards programmes or redemption rates to get your head round, just a percentage of your spend placed directly in your account at the end of each year.

What we love...

So, how does the cashback system work? Within a Cashback year, if you spend between $5,000 and $9,999 on the card, you will receive 0.5% cash back. If you spend between $10,000 and $30,000 within that year, will receive 1.0% cash back. Cashback on spending is capped at $30,000 per year, allowing you to earn a maximum of $300 on your card spending.

Your Cashback year starts from the date of your first purchase, and runs for a 12 month period. At the end of that period, your cashback total will be automatically credited to your account to spend as you like. Also bear in mind that cashback will only be paid out on eligible purchases, which exclude the purchase of cash substitutes (such as travellers' cheques), gambling transactions and business related expenditure.

What’s not so great...

As is so often the case with rewards cards, the ANZ Cashback Visa charges a fairly substantial rate of interest on purchases and cash advances. While this can be avoided by clearing your balance by the due date each month, if you are unable to pay off your purchases before they start accruing interest, you may find it hard to gain any real value from the cashback on your purchases.

Why should you choose this card?

If you want to choose your own rewards, the ANZ Cashback Visa could be a great option for you. Designed for smaller spenders (those who spend more than $30,000 per year, it may be worthwhile looking at the platinum version of this card), it can help you earn cashback on your spending, up to a maximum of $300 per year.

Taking into account the card’s annual fee – and your ability to pay off your purchases each month – this card could offer an easy way to earn money back, which can then be spent as you like. Instead of messing around with complicated rewards programmes, or trying to get value from frequent flyer programmes you rarely use, this could be an easy-to-use alternative.

You can add an additional cardholder to the account to earn cashback faster, or set up regular payments such as your gym membership or phone bill. Aside from its cashback programme, the card keeps things pretty simple, while offering handy basics such as Apple Pay and Google Pay compatibility, contactless payments and up to 55 days interest free on purchases.

Overall Rating

A simple card that offers up to 1% cashback on card spending up to $30,000 per year, the ANZ Cashback Visa is a flexible option that helps you to save.