ANZ - Opinions?

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Forums › Finance and wealth management › ANZ - Opinions?

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plas

455 posts

Ultimate Geek

#3097715 30-Jun-2023 13:15

johno1234:

xpd:

They have just cancelled some airpoints scheme on their Visa cards, so check into their point schemes before signing anything.

I think that was the lounge pass benefit - it's gone from all the AirPoints cards.

However rechecking on https://www.airnewzealand.co.nz/airpoints-direct-earn-credit-card-comparison-table

For ANZ it says 50% bonus on AirNZ flight earned status points, but doesn't actually state that it still earns status points from the credit card $ spend. I am sure it does but don't know the rate. Will need to check. Can anyone confirm?

Would also need to hang onto the never-used low fee KiwiBank Airpoints VISA too, as the ANZ card does not state it offers Airpoints Dollar topup - essential if you want to buy an award ticket and don't have the APD balance for it.

Since the start of COVID they have only removed benefits hench why I swapped to AMEX

Free currency conversion- gone
Lounge passes -gone
Status points for spending - gone.
Spend has increased to $110 to $1 Airpoint

stocksp

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#3097759 30-Jun-2023 14:45

johno1234:

xpd:

They have just cancelled some airpoints scheme on their Visa cards, so check into their point schemes before signing anything.

I think that was the lounge pass benefit - it's gone from all the AirPoints cards.

However rechecking on https://www.airnewzealand.co.nz/airpoints-direct-earn-credit-card-comparison-table

For ANZ it says 50% bonus on AirNZ flight earned status points, but doesn't actually state that it still earns status points from the credit card $ spend. I am sure it does but don't know the rate. Will need to check. Can anyone confirm?

Would also need to hang onto the never-used low fee KiwiBank Airpoints VISA too, as the ANZ card does not state it offers Airpoints Dollar topup - essential if you want to buy an award ticket and don't have the APD balance for it.

You no longer get status points on spend unfortunately. The 50% bonus is good though

xpd

Geek @ Coastguard NZ
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#3097764 30-Jun-2023 15:11

Silvrav:

see this often - they cant make money off you cause you understand the system and will most likely pay off faster then normal joe soap where they can make more interest.

Yup exactly it.

Gavin / xpd / FastRaccoon / Geek of Coastguard New Zealand

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xpd

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#3097767 30-Jun-2023 15:12

johno1234:

xpd:

They have just cancelled some airpoints scheme on their Visa cards, so check into their point schemes before signing anything.

I think that was the lounge pass benefit - it's gone from all the AirPoints cards.

No, was something like FlyBuys where we accumulated points and could claim for all sorts of stuff. Ends today I think..... was handy for getting occasional bottle of spirits or movie tickets.

Gavin / xpd / FastRaccoon / Geek of Coastguard New Zealand

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MikeAqua

7785 posts

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#3097799 30-Jun-2023 16:05

xpd:

We're the same situation wise as such, but they won't talk to us regarding a new home loan (going elsewhere for that now). Their system says we live beyond our means, yet we have savings, never missed any payments, and go on family trips quite often without emptying out the account. They also say the equity in our house is minimal (we owe next to nothing on it, and house now worth 3x what we paid). Credit history for both of us is 900+.

So go figure..... :D

That's odd. Fundamentally, banks should want to lend to people who are good at repaying loans = that's how they make money. It may depend how much headroom they have in their lending budget and however they divvy it up.

I don't know what our credit scores are. I've never looked.

When we were house shopping, I was horrified at how much the banks were prepared to lend us. I couldn't have slept at night, owing the amount we could have borrowed.

Mike

Aucklandjafa

398 posts

Ultimate Geek

#3097813 30-Jun-2023 16:29

My 2 cents: I just moved my platinum card from ANZ to TSB. Yes, ANZ have that additional 50% status points, but their annual fee ($150) and earn rate ($110 for 1 airpoint) is nothing in comparison to TSB's $90 annual fee and $70 spend for $1 cashback. ANZ's card was good for the last 3 years for my Koru membership discount AND having the ability to let you membership lapse and not pay the $250 joining fee was great. But I'm not flying enough to justify it.

OldGeek

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#3098138 1-Jul-2023 13:10

plas:

Since the start of COVID they have only removed benefits hench why I swapped to AMEX

Free currency conversion- gone
Lounge passes -gone
Status points for spending - gone.
Spend has increased to $110 to $1 Airpoint

Just out of interest - how do you get on with merchants that do not accept AMEX?

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Stu1

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#3098216 1-Jul-2023 14:51

Support NZ look at tsb or co op , ANZ are standard AU bank milking NZ . If you want to support NZ farmers look at Rabobank , great rates great community bank

netspanner

343 posts

Ultimate Geek

#3098391 1-Jul-2023 17:03

Used ANZ for years. Never had any issues. I love their App, it is often years between needing to talk to a human.

However my one gripe is investing in Unit Funds. You have to visit a branch and fill out a form by hand. Its a throwback to the 1980's. All other accounts I can make via the app. Getting money out is the same tedious effort. Really not good enough for a bank today.

everettpsycho

615 posts

Ultimate Geek

#3098461 1-Jul-2023 19:56

Aucklandjafa:
My 2 cents: I just moved my platinum card from ANZ to TSB. Yes, ANZ have that additional 50% status points, but their annual fee ($150) and earn rate ($110 for 1 airpoint) is nothing in comparison to TSB's $90 annual fee and $70 spend for $1 cashback. ANZ's card was good for the last 3 years for my Koru membership discount AND having the ability to let you membership lapse and not pay the $250 joining fee was great. But I'm not flying enough to justify it.

We are looking at doing this exact thing for the same reason that the cashback has dropped and we don't fly enough to use the airpoints up. When we asked anz for their platinum a few years back they said no but promptly offered us a mortgage despite being 7 months pregnant, a mortgage broker wouldn't touch us at the time but anz threw money at us. We've now offset a chunk of that mortgage and earn more now so wanting to bump up to a platinum card to help with the offset mortgage instead of potentially running out of credit before paying off the previous month.

It's been a bit interesting with anz for us, they were just fine up to getting a mortgage approved, then we decided to build instead of buy existing so had to switch to a build expert who forgot to submit paperwork and pay bills on time, without reminders from us chasing them we would have missed progress payments, ended up going back to our old personal banker who sorted it out. We recently shuffled the mortgage as the cheap interest rates for those building ran out and they messed that up by missing 0 of the transfer to the new account then went home for the weekend and forgot about fixing it when they came in on Monday. We had to argue with them as they kept wanting to leave it overnight and it would sort itself out despite clearly being a mistake that had been left for several nights and chased up.

Generally speaking we don't talk to them though so once every couple of years I guess we can just harass them if they get it wrong.

rscole86

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#3098489 1-Jul-2023 22:28

We've been pretty happy for years, was with National Bank and never moved away.

We occasionally speak to them when we update our mortgage, it's all been easy to deal with so far.

The only pain point was when ANZ provided repayment amounts that were not meeting their own minimum requirements for the mortgage we drew down. They admitted fault and provided reimbursement.

Handle9

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#3098504 2-Jul-2023 03:22

networkn:
Across many many years I've personally never had a good experience, and I have had multiple family members and friends have really grim experiences. It would be something I'd actively avoid unless I had no other viable choice. They have in the past been absolutely mercenary with their fees.

I do not, nor have I ever personally banked with them, but my wife and other members of my family have.

Pretty similar to my experience with Mrs Handle. They seemed very hungry when she banked with them. Every time I’ve approached them they have had hopeless mortgage rates and wanted me to pay fees for various things. If I’m paying a mortgage there’s no way I’m paying any other fee to a bank.

Eva888

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#3098513 2-Jul-2023 08:50

If you are slightly impatient or want face to face service from a personal banker forget ANZ. Being told to wait 10 days for an appointment finished it for me. (That was for business).

Ge0rge

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#3098515 2-Jul-2023 09:32

Stu1: Support NZ look at tsb or co op , ANZ are standard AU bank milking NZ . If you want to support NZ farmers look at Rabobank , great rates great community bank

I was under the impression that Rabobank was no longer an option unless you were a farmer, and that they binned all non-rural transactional accounts a couple of years ago.

plas

455 posts

Ultimate Geek

#3098590 2-Jul-2023 12:16

OldGeek:

plas:

Since the start of COVID they have only removed benefits hench why I swapped to AMEX

Free currency conversion- gone
Lounge passes -gone
Status points for spending - gone.
Spend has increased to $110 to $1 Airpoint
Just out of interest - how do you get on with merchants that do not accept AMEX?

Still have a no fees visa for those or if they accept paypal thats an option. Biggest pain is really the council who dont accept AMEX for paying the rates.

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