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ANZ to raise annual credit card fees by between $5 and $25

241px-ANZ-brand.svgAustralia and New Zealand Banking Group—known as ANZ—announced recently that it will increase the annual fees for nearly all of its major cards from between $5 and $25 per year.

While the “classic” pricing for the cards will be eliminated in favor of card fees more aligned with industry averages, no changes will be made to ANZ credit card interest rates, Interest.co.nz reports.

Annual fees for ANZ Visa and MasterCard will increase from $25 to $30, from $50 to $60 for Cashback Visa and Cashback MasterCard, from $95 to $105 for the Cashback Gold and Cashback Visa Gold, from $65 to $75 for the Qantas ANZ Visa and from $125 to $150 for the Qantas ANZ Visa Platinum.

Warehouse and Westpac charge some of the highest annual fees, $34 and $44 respectively, while ANZ and BNZ fall in the middle at $30, according to Interest.co.nz.

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