Australia and New Zealand Banking Group is issuing a cobranded Visa card in partnership with Qantas Airlines and Telstra, which markets telephone products.

Qantas Telstra Visa cardholders can earn two reward points for every dollar charged to the card. And cardholders can earn up to 20 points per dollar charged at 15,000 bonus outlets in Australia.

Points can be converted for use toward Qantas flights at the rate of four reward points to one frequent-flier mile.

Cardholders also may use the reward points toward Telstra products, such as mobile phones and fax machines, and toward reward certificates that can be deposited in ANZ bank accounts.

The partners began marketing the card last month in Qantas travel centers, terminals, and in-flight materials, as well as in Telstra Shops and ANZ branches.

No annual fee is charged in the first year if customers apply before March. Annual fees then will be $40 for the classic card and $75 for the gold.

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