ANZ Rewards changing – improved Velocity Transfer rates

ANZ Rewards will be making some changes to the program affecting the number of points required for various redemption options. For the Frequent Flyer, the most significant change is that the number of points required for Velocity transfers and ANZ Travel Rewards will be decreasing from 18 July, 2015.

On the other hand, the number of points required for Cashback, Gift Cards and some merchandise rewards will increase. On the no change front are redemption options for transfers to Air New Zealand Airpoints, Asia Miles and KrisFlyer.

ANZ Rewards have provided a web page that provides some details of the changes. It is important to note, that this particular change only affects the redemption option for points – there are no changes being made to the earnings structure of the cards.

The web site does not include details of exactly what the changes are, although some enquiries suggest that the effect on Velocity transfers is that the transfer rate will be changing from 2.25 ANZ Rewards points per 1 Velocity point to a rate of 2 ANZ Rewards points per 1 Velocity point.

 

Card Old New
Visa Amex Visa Amex
Classic 0.66 0.88 0..75 1.0
Platinum 0.66 1.33 0.75 1.5
Black 0.88 1.33 1.00 1.5

These changes help align the ANZ cards with competing products from the other banks.

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