The details have been finalised.
With effect from 2 April 2015, the redemption scheme for ANZ Travel$ has been changed and it is no longer useful as a credit card for general spending if you are looking at rebates.
Old scheme:
$10 cash credit = 550 Travel$
$20 cash credit = 1100 Travel$
$50 cash credit = 2750 Travel$
New scheme:
$20 cash credit = 2800 Travel$
$50 cash credit = 7000 Travel$
Click link for details.
As you can see, the effective cash back rate has decrease from 2.56% to 1.00% now.
Hence, this card is no longer useful as a cash rebate credit card.
However, if you are looking at miles, the ANZ Travel Card is still useful as you get 1.4miles per dollar spent.
Most importantly, while most banks require you to redeem in blocks of 10,000 miles, ANZ allows you to redeem miles in blocks of 2,000 miles. This information is particularly inportant because in the event that you are unable to get waiver for the annual fees and have to redeem the points, you get less "wastage" of points for the ANZ Travel card.
Having said the above, I can now conclude my preference of credit cards for general spending:
1) AMEX True Cash Back
2) ANZ Travel Card
The ANZ Travel Card will cover the rest of the merchants to do not accept AMEX.
Tags: ANZ Travel Card, rewards, change, AMEX, True Cash Back
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