ANZ Rewards Black vs ANZ Frequent Flyer Black - 120k bonus - which is worth more?

Hi all

I have possibly a noob question to ask.

Currently ANZ is offering 120k bonus signup points for both their ANZ Rewards Black and ANZ Frequent Flyer Black cards.

I’m trying to compare like for like against the equivalent Qantas or Velocity points that these cards offer from the bonus signup.

Would I be right in thinking that the FF Black is worth double when compared to Rewards Black card, since the 120k point with FF Black would equate to the same number of Qantas points? Whereas 120k points with Rewards Black would only equate to half the number of Velocity points?




120k reward points can be transferred to 60k Velocity points (without transfer bonus). Right now ANZ and Velocity are offering a combined transfer bonus of 30% (there has been higher bonuses). Under a transfer bonus of 30%, you will get 78k Velocity points from 120k Reward points.

So, you could possible compare 120k Qantas points vs 60/78k Velocity points. Personally, speaking I would take the 120k Qantas signup bonus. But everyone values different things differently.

Qantas and Velocity points open up avenues for redemption with different partner airlines, which offer different routes. So it is indeed a case of comparing apples with oranges.

Another option you could consider is, applying for the Qantas version and changing it over to the Reward version after you have received your signup bonus.

Good luck.