Annual. Fee
$30

Purchase Rate
20.99% p.a. / 21.99% p.a.

Rewards Rate
N/A

Intro Offer
$125

The ANZ First credit card’s $30 fee is the lowest annual fee of all the bank’s credit card offerings ($30), plus it’s waivable for the year for eligible applicants. New cardholders can also receive $125 back by spending at least $750 on eligible purchases in the first three months.

While the card does not earn rewards, ANZ promotes the use of Cashrewards — an online shopping platform with cashback deals and rewards.

Fees, interest rates and other details

Feature	ANZ First credit card
Annual fee	$30 ($0 for the first year).
Variable purchase rate	20.99% per annum.
Variable cash advance rate	21.99% per annum.
Cash advance fee	3% (between $3-$20).
Balance transfer rate	21.99% per annum.*
International transaction fee	3% of the transaction.*
Late payment fee	$20
Minimum credit limit	$1,000
Interest-free days on purchases	Up to 55 days interest-free (if the statement balance is paid in full by the statement due date. Remember, this will not apply to cash advances).
Additional cardholders	Free (up to three; applicants must be 16 years old).
Card network	Visa.
Intro offer	Earn $125 back (generally as a statement credit) when you spend at least $750 on eligible purchases in the first three months of card ownership.*
Rewards program	None, but the card comes with access to the Cashrewards program (though this offer is not exclusive to ANZ cardholders).
Insurance	Extended warranty and purchase protection.*
Benefits	• Access to ANZ Instalment Plans — a buy now, pay later-style program to pay for eligible purchases over three, six or 12 months.* • 24/7 anti-fraud protection with ANZ Falcon. • Fraud money back guarantee.* • An embedded card security microchip. • Visa secure (formerly known as Verified by Visa). • Compatible with digital wallets and wearables, such as Apple Pay, Google Pay, Samsung Pay and Garmin Pay. • Digital cards are instantly available for use once approved. Physical cards are available upon request.

*Additional terms and conditions apply.

Basic overview

The ANZ First card is a low-fee credit card that offers up to 55 interest-free days on purchases and up to three free additional cards. You also get 24/7 anti-fraud protection with ANZ Falcon and can use the card with most digital wallets and wearable devices.

You can apply for the ANZ First credit card even if you don’t have a credit history. ANZ states that while credit history is a factor in deciding eligibility, it’s not the only one — they also look at your employment history, assets, liabilities and expenses.

» MORE: How to get a credit card in Australia

Understanding the monthly fee

Over time, the rewards and benefits of a credit card could potentially outweigh the annual fee, depending on how you use the card. Here’s one way you could ‘cover’ the cost of the $30 annual fees over time:

As a new cardholder, If you spend at least $750 on eligible purchases in the first three months, you get $125 back, typically as a statement credit, per the welcome offer’s terms. While this extra cash will only apply to your purchase balance, it can ‘free up’ the $120 needed to cover the $30 annual fees for the next four years.

Understanding the balance transfers

Cardholders can apply to transfer balances of $100 or more from eligible non-ANZ Australian credit and store card debts to the ANZ First credit card, up to 95% of the card’s credit limit. Before you request a balance transfer:

Read the fine print. Make sure you know the details about how ANZ handles balance transfers. Study the terms and conditions and pay special attention to eligibility criteria, any chargeable fees, and when the revert rate — if applicable — kicks in.
Look for promotions. ANZ may feature a low rate, an extended promotional period, or another balance transfer offer for new and existing cardholders. See if you’re eligible to score a 0% promotional rate, for instance, and include it in your application when applying for the transfer. Then, again, make sure you understand the rules. For example, you must make the interest-free days payment by the due date shown on your statement each month to retain the 0% interest rate on your balance transfer.
Think twice if offers aren’t available. Remember, balance transfers have a slightly higher interest rate than purchases (21.99% instead of 20.99%). If you aren’t getting a deal on the interest rate, there may be little benefit in transferring your balance. It may even cost more in interest charges, especially if the card you’re transferring from has a lower rate on purchases.

Mind the revert rate

If you have a credit card balance on a card with a higher interest rate, moving the balance to one with 0% interest could save you money — and give you time to pay down the balance. Remember that the new card’s standard interest rate applies once the promotional period ends. So, ideally, you want to pay off the debt during the 0% interest period. It’s also important to consider the new card’s standard rate versus the interest rate you are paying on your current card, especially where you may be unable to pay the balance transfer off within the 0% interest rate period.

Offers and rewards

Welcome offer

Earning Cashrewards

Reward redemption

You can earn $125 back as a statement credit when you spend at least $750 on eligible purchases in the first three months. ANZ provides this offer and is separate from the Cashrewards program.

The annual fee ($30) can also be waived for the first year.

The above offer and the redeemable value of the points were current at the time of writing and are subject to change.

The ANZ First credit card does not earn rewards directly. However, eligible cardholders can earn cashback by shopping through Cashrewards — an online rewards platform.

You don’t need an ANZ credit card to open a Cashrewards account, but you’ll need one to earn rewards. Cashrewards offers displayed on the ANZ mobile app may differ from what’s on the Cashrewards website and are not necessarily exclusive deals for ANZ cardholders.

Cashback earned via the Cashrewards platform gets deposited into your Cashrewards account. It can take between 14 and 100 days for the cashback to be approved and deposited. You can then transfer the cash from your Cashrewards account into a PayPal or bank account.

Eligibility

Who may be eligible?

To apply for an ANZ First credit card, you need to:

be at least 18 years old
be an Australian or New Zealand citizen, permanent resident, or have more than 12 months left on your visa.

Who might be suited to this card?

According to ANZ’s Target Market Determination (TMD)[1], the ANZ First card is designed for customers who:

require a credit card facility (being a line of credit) to make purchases or perform other transactions
are unlikely to carry a substantial balance frequently from month to month
want or value a low fee card with access to other applicable benefits
want a credit card facility with a credit limit of at least $1,000
can satisfactorily demonstrate that they are able to afford to repay the credit card facility.

Who might not be suited to this card?

Based on the above TMDs, ANZ has not designed this card for customers who:

carry a substantial balance month-to-month
want a card with no annual fee
want to earn rewards on purchases
want a card with complimentary travel insurance.

How to submit an application

To apply for the ANZ First credit card, click the ‘Apply online now’ button on the website and follow the online prompts. It’s recommended that you have the following items handy before you start the credit card application process:

your contact details, such as an email address
Australian driver’s licence, if applicable
financial information, which includes income, expenses, assets and liabilities
two recent pay slips
your accountant’s contact details if you’re self-employed
information on your living expenses, such as ongoing bills
ANZ account number or Customer Registration Number, if applicable.

» MORE: How long does it take to get a credit card?

Customer satisfaction ratings

Note: Customer review websites can be insightful, but keep in mind that the reviews may not accurately reflect the average experience; for example, unhappy customers may be overrepresented in these reviews. Products also change over time, and reviews may reflect experiences with features and benefits that are no longer available. Nevertheless, these sites are one way to learn more about the company and the products on offer before you make a decision.

As of this writing:

Based on over 450 Trustpilot reviews, ANZ scored: 1.3 out of 5 stars.
Based on over 40 Product Review ratings, the ANZ First credit card scored: 2.5 out of 5 stars.

NerdWallet does not endorse the above scores or reviews and provides them for illustrative purposes only.

The ANZ First credit card has a $30 annual fee, waivable in the first year. Don’t forget, there are also other fees and charges that you may need to pay.

» MORE: Credit card fees to know (and avoid)

The purchase interest rate for the ANZ First credit card is 20.99% (21.99% for balance transfers and cash advances).