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Updated 24 July 2026 · Verify current terms with the card issuer before applying.~4 min read

ANZ Frequent Flyer Black Review — Is it worth it?

This guide has been fact-checked by our editorial team. Information is current as of July 24, 2026.

ANZ Frequent Flyer Black Review — Is it Worth it?

Last verified: 2026-07-24

The ANZ Frequent Flyer Black credit card presents an intriguing option for Australians aiming to maximise their Qantas Points accumulation. This analysis will dissect the card's features, benefits, and value proposition. With an annual fee of $425 and a commitment to the Qantas Frequent Flyer program, determining the card's worth hinges on examining its earn rates, welcome bonus structure, and associated travel perks [4].

Overview & Key Features

The ANZ Frequent Flyer Black card is primarily targeted at frequent travellers and Qantas loyalists. It stands out due to its offering of up to 130,000 bonus Qantas Points, contingent upon meeting specific spending criteria [5]. The card's features include:

  • Network: Visa
  • Rewards Program: Qantas Frequent Flyer
  • Annual Fee: $425 AUD
  • Minimum Credit Limit: $15,000

Earn Rates Breakdown

The earn rates for the ANZ Frequent Flyer Black card are straightforward:

  • 1 Qantas Point per $1 spent: Up to the first $7,500 per statement period
  • 0.5 Qantas Points per $1 spent: Beyond $7,500 per statement period

This structure favours cardholders who regularly meet the spending cap, effectively maximising their point return [3].

Welcome Bonus Analysis

As of now, ANZ offers a generous bonus of up to 130,000 Qantas Points. To earn the full bonus, cardholders must spend $5,000 within the first three months for the initial 90,000 points and maintain the card for 12 months for an additional 40,000 points [6].

It's important to note recent reductions in the Qantas bonus from 130,000 to 80,000, reflecting changes in the benefits landscape for ANZ credit cards [1][2].

Annual Fee vs. Value Calculation

At $425 AUD per annum, the ANZ Frequent Flyer Black's fee is substantial. However, the value equation can tip favourably if leveraged correctly:

  • The potential to earn up to 130,000 bonus points translates into substantial airfare savings, often outweighing the annual fee for frequent Qantas travellers [5].
  • Complimentary insurances and selected airport lounge access further enhance the card's value proposition.

Travel Benefits

The card provides several travel benefits, including:

  • Complimentary Qantas Club Lounge Invitations: Offering added comfort during travel [4].
  • Travel Insurance: Comprehensive coverage that commences when travel tickets are purchased using the card [4].

Who Is This Card Best For?

This card is ideal for high-volume spenders who frequently engage with the Qantas Frequent Flyer program and can maximise the card's points and perks. Travellers who can reliably achieve the spend thresholds stand to gain significant value.

Verdict

The ANZ Frequent Flyer Black card holds substantial value for Qantas loyalists. Nevertheless, its appeal is contingent on individual spending habits and travel frequency. The card's significant fee can be justified by the potential to redeem points for high-value travel rewards, especially for those regularly spending in line with the card’s structure [5].

Comparison Table

Card/Product Key Feature Rate/Fee Verdict
ANZ Frequent Flyer Black Up to 130,000 bonus Qantas Points $425 annual fee Best for Qantas loyalists and frequent flyers

Pros and Cons

Pros

  • High Point Earning Potential: Generous initial bonus and solid earning rate for Qantas Points [3].
  • Travel Perks: Complimentary lounge access and comprehensive travel insurance [4].
  • Flexible Spending Capacity: Higher earn rate up to $7,500 spend per month[3].

Cons

  • High Annual Fee: $425 may not suit casual card users without significant Qantas engagement [5].
  • Complex Bonus Criteria: Requires structured spending to maximise initial points offer [6].
  • Recent Reductions in Benefits: Reduced points and removal of cashback may deter some potential card users [2].

Frequently Asked Questions

What is the primary benefit of the ANZ Frequent Flyer Black card? The primary benefit is the high potential for earning Qantas Points, particularly through the introductory bonus [5].

How does the ANZ Frequent Flyer Black card help with travel? The card offers complimentary lounge invitations and comprehensive travel insurance for eligible trips booked with the card [4].

What are the spending requirements for the bonus points? To earn the full bonus, spend $5,000 in the first three months for 90,000 points and retain the card for 12 months for an extra 40,000 points [6].

Is the $425 annual fee worth it? For frequent Qantas travellers who optimise the card’s features, the fee can easily be outweighed by points and travel benefits [5].

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Sources & Citations

General information only. GettaBettaDeal does not provide personal financial advice. Our guides do not consider your personal objectives, financial situation or needs. Always read the Product Disclosure Statement and verify current rates and terms directly with the card issuer before applying.