ANZ had a complicated past. For those who remember, it used to be ABN AMRO, before being acquired by Royal Bank of Scotland (RBS), which subsequently was bought over by ANZ. Now, ANZ has been acquired by DBS and its name will be become history in Singapore.
5 August 2017 would be the official date that ANZ customers have their savings and credit card accounts transferred to DBS. If you have an existing ANZ credit card and am worried about your existing points or rebate $, don’t worry as they will not disappear into thin air. Depending on which ANZ credit card you hold, they will be converted to a corresponding DBS credit card as shown:
If you do not have the DBS replacement credit card, then you will receive a new credit card in the mail. However, if you already have a DBS credit card e.g. Altitude Visa Signature Card (which is the replacement for ANZ Travel Visa Signature), then you will not receive a new credit card.
If you have existing points in your ANZ credit card account, there is no need to convert them since they will be transferred over to your DBS account. This is clearly stated on ANZ’s website:
“Your unused Rewards Points will be transferred to DBS for future usage if you choose not to redeem via the ANZ Rewards Programme before the latest dates specified below:
- 24 July 2017: For Redemption of KrisFlyer Miles or Cash Credits
- 17 July 2017: For Redemption of all other Rewards including Travel Cash”
Personally, I would prefer to consolidate my points in one place prior to redemption since each Krisflyer redemption cost S$25 and there’s definitely going to be some leftover points that will be transferred over anyway, unless of course you watch your spending such that you engineer your spending to earn a precise number of points.
Indeed, it is a pity that we lose one of the highest earning miles card for local spending (1.4 miles per $1) and with it, the chance to pay a small amount of annual fee to get 10000 bonus miles. The saving grace, is that the DBS points will not expire as compared to the 5 years validity on ANZ’s travel card.
Time to toss out the old ANZ credit cards in your wallet.