Calculator: What's The Value of ANZ Rewards Points?

ANZ Rewards 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:

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 1.5 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.

Gift card redemptions

ANZ Rewards Points can be redeemed for digital gift cards starting at 2,300 points for a $10 gift card. The exact value you receive will vary by brand and denomination, but the average value is 0.45 cents per point with the best values coming from higher gift card denominations.

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 in increments of 1,250 ANZ Rewards Points for a $5 reward. This give ANZ points a value of 0.4 cents each.

This reward can be used to reduce the balance of your ANZ Rewards credit card or be added to an eligible ANZ bank account. Redemption time is 2 business days.

Merchandise

ANZ Rewards points can be redeemed for merchandise ranging from Fitness & Health to Kids to Home & Garden. The value of redeeming ANZ Rewards points for merchandise will heavily vary, but testing a few items based on the average retail price gave anywhere from 0.3 cents per point up to 0.5 cents per point.

ANZ Rewards points to dollars calculator

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 Rewards Points average value

The table below lists the average cash value of ANZ Rewards points when redeemed for gift cards at an average value of 0.45 cent per point. Remember that you can obtain higher value transferring points to ANZ's airline partners.

ANZ redemption value calculator

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.

How does ANZ points value compare?

Here's how the value of ANZ Rewards points compare against rewards earned with other leading travel programs:

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 everyday spending, the ANZ Rewards Black credit card is the top choice.

ANZ Rewards Black credit card

• 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.
• Card Value & ANZ Points Calculator

ANZ Rewards Platinum credit card

• 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.
• Card Value & Rewards Calculator