ANZ Managing Director Consumer Finance, Ms Jenny Fagg said the ANZ Balance Visa card combined the flexibility of Visa, Reward Points and a competitive interest rate, while providing customers with an incentive to reach their financial goals.
Ms Fagg said ANZ Balance Visa was developed following ANZ research which found that customers were looking for this combination of features in a credit card.
“Our research found that customers want to reduce debt and be rewarded for payments to their credit card, but at the same time, they don’t want to miss out on a rewards program by choosing a card with a lower interest rate,” Ms Fagg said.
“ANZ Balance Visa is the only credit card of its kind in Australia – indeed one of the first in the world – and it further delivers on our strategy to provide customers with more convenient banking, based on products that are simple to understand and delivered in a responsible manner.”
ANZ Balance Visa is available from today and features:
• One Reward Point for every $1 repaid to the account balance including repayments to interest, fees, cash advances and balance transfers;
• A current interest rate of 13.99%p.a. on purchases - lower than most reward credit cards;
• No Reward Points capping or expiry as long as the account remains open;
• The choice for customers to set up an automatic redemption so they can receive their chosen rewards as soon as they accumulate the required points and;
• The option for customers to design their own card www.designmycard.com.au.
Customers can choose to receive their rewards from ANZ Balance Visa in two ways:
• Cashback: Available in $20, $50 or $100 denominations and appears as a credit on their credit card statement and will be deducted from their balance.
• Shopping Vouchers and Gift Cards: Generally available in $20, $50 or $100 denominations and for leading retailers such as Myer, David Jones, Target, Kmart, Caltex and Bunnings.
Customers can obtain more information or apply for an ANZ Balance Visa card online at http://www.anz.com/aus/ind/creditcard/range/ANZ_Balance_Visa_Credit_Card/default.asp, over the phone on 13 33 33, or at any ANZ branch.