Thursday, March 5, 2015

ANZ Optimum 5% Cash Rebate Credit Card Review

Whoa, check out this new rebate credit card offered by ANZ!

  • 4 main categories of spending - Dining & Leisure, Travel, Shopping and Groceries
  • choose 1 category to get 5% rebate
  • get 1% rebate for the rest of the categories
  • no minimum spend
  • no rebate limit
  • 1st year waiver
  • redemption only in $50 denominations (min spend of $1000 @ 5% rebate category to redeem)
  • expiry of rebate credit in 3 years
  • $80,000 income to be eligible

Honestly, 5% rebate with no minimum spending and no limit is pretty darn sick. 1% on everything else is also a pretty attractive carrot to dangle. For people that can spend around $1000 a month of expenses, I am sure that this card will probably be one of the best rebate cards for you, especially if you happen to find that your spending generally falls into specific categories. On top of all the goodies that the card already has, they are also offering an $88 cash rebate. Very attractive!

I currently use the OCBC Frank Card, which works very well in conjunction with my OCBC 360 Account, but I must admit that the OCBC 365 Card is a good contender, it is just so happens that I tend to spend more online, which Frank gives a high 6% rebate.

I do have a CIMB Visa Signature Card as a spare and for rebates as well, but I have yet to even use it once! I did have it activated when I went overseas, just in case, but I never used it in the end.

ANZ does have it's Travel Visa Signature Card which many people do not know about. It is also a card with no minimum spending and no rebate limit and it offers a rebate of 2.54%. However, since the rebate comes from using up your airmiles, I think this card remains relatively unknown as a rebate card, since it is not marketed that way! Just something interesting to think about.

I am very tempted to apply for this card, but alas, the minimum income is a bit... oh well. Haha! If it was not for that, I think that this card would make a wonderful supplement to my OCBC Frank Card. Of course the AMEX True Cashback card seems like a pretty close competitor, but ANZ is offering the 5% cashback as at least a 1 year promotion, compared to AMEX's 3 months promo.

Is this the best cashback card on the market now? Quite possibly so!


  1. Have you applied for the Optimum Card already? :)

    1. Hi Mark,

      No, I have not. My normal natural expenses in a month hasn't increased enough that I should get a 2nd credit card yet.

      Not sure if it's a good thing or a bad thing, haha.


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