Gone are the days when credit cards were a means of paying for something you couldn’t afford – they’re now practically your airline loyalty membership and travel insurer.
Buy, pay back and repeat over and over again. That’s how credit cards were once used, but these days the space is so competitive that banks are coming up with new, creative ways to secure new customers.
The latest incentive comes from ANZ, which today released its ANZ Rewards Travel Adventures card, designed specifically to entice frequent travellers.
In addition to receiving the card and receiving the regular interest fee period, the bank is giving users a complimentary return Virgin Australia domestic flight AND two complimentary Virgin Australia lounge passes EACH YEAR.
Sounds little like an airline loyalty membership right?
It also comes with complimentary overseas travel and medical insurance.
And to align it a little with finances, the company has also stripped overseas transaction fees on purchases.
What?!
Of course there’s a catch. Customers need to spend $500 in the first three months to activate the benefits. Plus they need to pay an annual fee of $225.
ANZ Managing Director Products and Marketing, Matt Boss, said the card was developed specifically for customers who want to travel by offering them “great value”.
