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What's The Value of ANZ Rewards Points?

ANZ Rewards points have an average value of 0.4 cents per point, but can be worth much more when transferred to ANZ's airline partners.
By Robert Flowers III - 2024-02-16

ANZ Rewards points can be redeemed for gift cards and cash back. Points can also be transferred to a handful of frequent flyer programs which will give you the best value.

ANZ points value

ANZ Rewards Points have an average value of 0.4 cents each. They can be redeemed for cash back and gift cards as well as be transferred to several frequent flyer programs.

Here's our valuations for ANZ Rewards points:

Redemption options Redemption value (in cents)
Point transfers to airline partners 0.25 - 1
Gift card redemptions 0.44
ANZ cashback 0.4

How to calculate ANZ points value

The value of ANZ Rewards points can vary depending on how they are redeemed. You can calculate the value of ANZ Rewards points by dividing the cash cost of your redemption by the amount of points required.

ANZ Points Value = Cash Cost of Redemption Γ· Points Required To Book.

If you want to easily calculate the value of your points based on redemption versus cash cost, jump to our ANZ Redemption Value Calculator.

Ways to redeem ANZ points

ANZ points can be redeemed for cash back and gift cards or be transferred to ANZ's airline partners. You will generally get the best value of your points when converting them to airline miles.

ANZ Point transfers to partners

ANZ Rewards Points can be transferred to 4 airline programs: Virgin Australia Velocity, Cathay Pacific Asia Miles, Air New Zealand Airpoints, and Singapore Airlines KrisFlyer.

With airline miles in these programs ranging from 0.5 to 2 cents or more per point, there's opportunity for obtaining excellent value out of your ANZ Rewards points. This mostly holds true when transferring points to these partners and redeeming those rewards for upper class redemptions.

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Gift card redemptions

ANZ Rewards Points can be redeemed for digital gift cards starting at 2,300 points for a $10 gift card. The value and exact redemption values will vary depending on the gift card. There's over 20 gift cards to choose from including Amazon, Coles, David Jones, and Sephora.

Redeeming points for cash back

ANZ Rewards Points can be redeemed for cash back at the rate of 1,250 ANZ Rewards Points for a $5 reward. This reward can be used to reduce the balance of your ANZ Rewards credit card or be added to an eligible ANZ bank account.

Points can be redeemed in increments of 1,250 points. Redemption time is 2 business days.

Calculator: Convert ANZ points to dollars

Use the ANZ Rewards Points Value Calculator to calculate the dollar value of ANZ Points based on the redemption values listed. This will give you an idea of how much your points are worth on average.

ANZ Points Value Calculator

Enter any amount of points to calculate the dollar value.
Points
Redemption options Average value
Transferring to airline partners $0 - $0+
Redeeming for cash back $0
Gift card redemptions $0

Calculator: ANZ redemption value

Use our ANZ Redemption Value Calculator to determine the cash value of a redemption based on the cost in cash versus the cost in ANZ Rewards points. This tool is useful when trying to decide whether a redemption is worth it.

Cost of Redemption In Cash
Enter how much the redemption would cost you if you paid cash.
$
Cost of Redemption In Points
Enter how much the redemption would cost you in ANZ Rewards points along with any taxes, fees, or additional cash cost you would have to pay.
ANZ Points
Points
Taxes/Fees
$
Redemption Value
This is how much your ANZ Rewards points are worth based on the values entered above.
- Cents Per Point

Earn ANZ points with these credit cards

ANZ offers two credit cards that you can use to earn points on everyday spending. If you're looking to get the most out of your local everyday spending, the ANZ Rewards Black credit card is a top choice.

Credit Card Card Details
ANZ Rewards Black Credit Card
ANZ Rewards Black
  • Earn 2 ANZ Reward Points for every $1 spent up to and including $5,000 per statement period.
  • Earn 1 ANZ Reward Point for every $1 spent over $5,000 per statement period.
  • Complimentary travel and purchase insurance.
  • $375 annual fee.
ANZ Rewards Platinum Credit Card
ANZ Rewards Platinum
  • Earn 1.5 ANZ Reward points for every $1 spent up to and including $2,000 per statement period.
  • Earn 0.5 ANZ Reward points for every $1 spent over $2,000 per statement period.
  • Complimentary travel and purchase insurance.
  • $149 annual fee.

FAQ

What's the value of ANZ Rewards points?

ANZ Rewards points are worth 0.44 cents each on average, but can be worth as much as 1 cent when transferred to ANZ's airline partners.

What can you redeem ANZ Rewards points for?

ANZ Rewards points can be redeemed for gift cards, cash back, and point transfer to partners.