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Compare Rewards Credit Cards
Looking for rewards while you spend? See below for some of the best reward credit cards for points, airlines and more.
Rates updated 9 hours ago
Credit card | |||||||||||||
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[American Express Membership Rewards] | 0 | [Enjoy $0 Annual Card Fee (usually $195) in the first year when you apply online, and are approved. T&Cs apply. New Card Members only. Offer subject to change without notice Earn up to 3 Membership Rewards points for every $1 spent. Transfer your points to a choice of 11 airline partner programs. Complimentary worldwide Travel Insurance. Apple Pay, Android Pay, Google Pay, Samsung Pay, ] | 0 | 0 | 30 | $product[$field["value"]] | -1 | AMEX | More details | ||||
American Express Platinum Edge Credit Card | |||||||||||||
[Qantas Frequent Flyer] | 0 | [Earn 75, 000 bonus Qantas Points on your new ANZ Rewards Platinum credit card. Bonus Qantas Points earned when you spend $2, 500 on eligible purchases in the first 3 months from approval.* Offer ongoing until further notice. Up to 55 days interest free credit on purchases. Interest rate of 20.49% p.a. on purchases and 21.99% p.a. on cash advances. View balances, transfer money and make payments simply and easily with the ANZ App. Apple Pay® and Google Pay let you use your compatible Apple® or Android™ device to tap and pay with an eligible ANZ credit card. Apple Pay, Android Pay, Google Pay, Samsung Pay, ] | 0 | 65 | 20 | $product[$field["value"]] | 21.99 | Visa | More details | ||||
ANZ Frequent Flyer Platinum | |||||||||||||
[ANZ Rewards] | 0 | [180, 000 Reward Points with your new ANZ Rewards Black when you spend $3, 000 on eligible purchases in the first 3 months from approval.* Offer ongoing until further notice. Unlimited access to participating airport lounges outside Australia. Personal Concierge can help you with travel planning, last minute travel advice, restaurant or hotel bookings, gift ideas, or even a recommendation on your next holiday. View balances, transfer money and make payments simply and easily with the ANZ App. Apple Pay® and Google Pay let you use your compatible Apple® or Android™ device to tap and pay with an eligible ANZ credit card. Apple Pay, Android Pay, Google Pay, Samsung Pay , ] | 0 | 10 | 20 | $product[$field["value"]] | 21.99 | Visa | More details | ||||
ANZ Rewards Black | |||||||||||||
[Qantas Frequent Flyer] | 0 | [Earn up to 120, 000 bonus Qantas Points (90, 000 when $3k spend met within 60 days, 30, 000 in the 13th month) From 13 September 2024, the annual card fee for the NAB Qantas Rewards Signature Card will be increasing to $420 p.a. Standard Balance Transfer Rate: 0% p.a. for 12 months. 3% BT Fee applies. BT reverts to Cash Advance Rate. Minimum monthly repayments required. NAB may vary or end this offer at any time. Access to six complimentary insurances when you make an eligible purchase. Additional cardholder at no extra cost. Up to 44 days interest free on purchases. Apple Pay, Google Pay, Samsung Pay, ] | 0 | 0 | 15 | $product[$field["value"]] | 21.74 | Visa | More details | ||||
NAB Qantas Rewards Signature | |||||||||||||
[Commonwealth Awards] | 0 | [Earn 1 Awards point per $1 spent on eligible purchases, up to and including $2, 000 in a statement period Redeem exclusively instore at Myer and Flight Centre, or choose from over 1, 000 items on the Awards site - including Gift Cards, electronics, appliances, cash back and much more Up to 55 days (effective 1 May 2024, this will change to up to 44 days interest free on purchases) Android Pay, Google Pay, ] | 0 | 0 | 20 | $product[$field["value"]] | 21.99 | Mastercard | More details | ||||
Commonwealth Bank Awards Credit Card | |||||||||||||
[Qantas Frequent Flyer] | 0 | [Earn 70, 000 bonus Qantas Points on a new NAB Qantas Rewards Premium Card when you spend $2, 000 on everyday purchases within 60 days of account opening.* Enjoy a reduced annual card fee (from $295 to $150) for the first year. Standard Balance Transfer Rate: 0% p.a. for 12 months. 3% BT fee applies. BT reverts to Cash Advance Rate. Minimum monthly repayments required. NAB may vary or end this offer at any time. Access to six complimentary insurances when you make an eligible purchase. Platinum Concierge Service - your own 24 hour, 7 day personal assistant. Complimentary Qantas Frequent Flyer membership. Up to 44 days interest free on purchases. Minimum credit limit $6, 000 Apple Pay, Google Pay, Samsung Pay, ] | 0 | 0 | 15 | $product[$field["value"]] | 21.74 | Visa | More details | ||||
NAB Qantas Rewards Premium Card | |||||||||||||
[Q Rewards] | 0 | [Earn 100, 000 bonus Q Rewards® points when you spend $4, 500 on Eligible Transactions in the first 3 months from card approval. Take out a BOQ Platinum Visa Credit Card you\'ll receive 0% p.a. on balances transferred for up to 12 months. Q Rewards program points allow you to fly any airline any time with Take Flight Cashback. Redeem points for eVouchers and cashback 2 Points for every dollar spent with Q Rewards. Concierge service. International travel insurance. Higher levels of Purchase Cover Insurance. Extended warranty. Priority 24-hour customer service on a dedicated Platinum card enquiries line. Samsung Pay, ] | 0 | 0 | 10 | $product[$field["value"]] | 21.74 | Visa | More details | ||||
Bank of Queensland Platinum Visa Card | |||||||||||||
[Suncorp Credit Card Rewards] | 0 | [Receive 120, 000 bonus Suncorp Credit Card Rewards Points when you spend $3, 000 on Eligible Transactions in the first 90 days from approval. Apply by 29 May 2024. To escape to a well deserved break with complimentary international travel insurance for you and your immediate family. Complimentary Purchase Cover Insurance for lost, stolen or damaged goods. Balance Transfer Offer 0% p.a. for 9 months on balance transfers.4 Reverts to cash advance rate. No interest free days are available on retail purchases while you have a balance transfer. Apple Pay, Samsung Pay, ] | 0 | 0 | 30 | $product[$field["value"]] | 21.99 | Visa | More details | ||||
Suncorp Bank Clear Options Platinum | |||||||||||||
[Velocity Frequent Flyer] | 0 | [Earn up to 60, 000 bonus Velocity Points (30, 000 Velocity Points each month you spend $1, 500 or more on eligible purchases in the first 2 months from card approval). Plus, enjoy half the annual fee in the first year, and $149 after that Offer is valid until 15 May 2024 Minimum Credit Limit $6, 000 Apple Pay, Samsung Pay , ] | 0 | 39 | 10 | $product[$field["value"]] | 20.99 | Visa | More details | ||||
Virgin Money Velocity Flyer Credit Card | |||||||||||||
[Qantas Frequent Flyer] | 0 | [0% p.a. interest on balance transfers for the first 14 months from card approval and then reverts to the standard variable interest rate for purchases. $99 annual fee for the first year saving you $70 Now available on Apple Pay Earn 1 Qantas Point per $1 spent on eligible purchases up to $2, 500 per statement period, then earn 0.5 Qantas Points per $1 spent for the remainder of that statement period , ] | 0 | 29 | 20 | $product[$field["value"]] | 20.49 | Mastercard | More details | ||||
Woolworths Qantas Platinum Credit Card | |||||||||||||
[Qantas Frequent Flyer] | 0 | [Complimentary overseas travel insurance. (Terms, conditions, limits and exclusions apply. See the Travel Insurance Information Booklet for details.) Earn 0.75 Qantas Points for every $1 spent Earn one additional Qantas Point for every $1 spent on selected Qantas products and services in Australia Monthly Qantas Points will be capped at 20, 000 A low $189 annual fee ($59 for an additional card) Safe online purchasing with Visa Checkout Access to Visa Platinum entertainment offers Access to Apple Pay, Google Pay and Samsung Pay Manage the way you transact with card controls Place a temporary lock on your card the moment you think it might be lost or stolen Create custom notifications to monitor your card activity Pay for things using your card and enjoy up to 55 days to pay the amount back without interest. Minimum Credit Limit $1, 000 Apple Pay, Android Pay, Google Pay, ] | 0 | 59 | 0 | $product[$field["value"]] | 20.24 | Visa | More details | ||||
Bank Australia Platinum Rewards Visa Credit Card | |||||||||||||
[Qantas Frequent Flyer Program] | 0 | [- Earn 1 Qantas Point for every $1 spent on eligible purchases, capped at 20, 000 Qantas Points per month - Earn 1 additional Qantas Point for every $1 spent on selected Qantas products and services in Australia - Annual 10, 000 bonus Qantas Points - New cardholders will receive 50, 000 bonus Qantas Points when $5, 000 is spent on eligible purchases within 90 days of account opening - Platinum Visa Concierge - No joining fee for Qantas Frequent Flyer membership - Add an additional cardholder at no extra cost - Minimum credit limit : $6, 000 Apple Pay, Google Pay, Samsung Pay, ] | 0 | 0 | 15 | $product[$field["value"]] | 21.99 | Visa | More details | ||||
G&C Mutual Bank Platinum Visa Credit Card | |||||||||||||
[Altitude Rewards] | 0 | [Earn 120, 000 Altitude Points when you spend $3, 000 on eligible purchases with a new Altitude Platinum credit card within 90 days of card approval. Exclusions apply. 0%p.a. for 22 months on balance transfers requested at card application. 1% BT fee applies. Reduced first year annual card fee of $49 ($175 thereafter)* Apply between 2nd November 2023 and 30th April 2024. Platinum concierge service. Complimentary insurance cover. Apple Pay, Android Pay, Google Pay, Samsung Pay, ] | 0 | 0 | 15 | $product[$field["value"]] | 21.99 | Mastercard | More details | ||||
Westpac Altitude Platinum (Altitude Rewards) | |||||||||||||
[Rewards Plus] | 0 | [Get 0% p.a. interest on Balance Transfers for 12months (2% Balance Transfer Fee applies) and reduced annual fee of $0 first year, $149 thereafter. Earn 1.5 Rewards Plus point per dollar for all other eligible purchases. Rewards Plus points can be redeemed for e-gift cards from Bunnings, Coles, Woolworths, Uber and more Enjoy 2 airport lounge passes every year at over 500 airports worldwide Complimentary domestic and international travel insurance Available when you apply for a new Platinum Credit Card. HSBC may change or end this offer at any time. Please see full terms and conditions below. Other fees and charges apply. Apple Pay, Android Pay, Google Pay, ] | 0 | 0 | 30 | $product[$field["value"]] | 21.99 | Visa | More details | ||||
HSBC Platinum Credit Card | |||||||||||||
[flybuys] | 0 | [Coles Mastercard and flybuys card in one so you only have to carry one card instead of two. Enjoy 0% p.a. on purchases for 6 months.1 Applies to Retail Purchases (excludes Cash Advances). Reverts to ongoing purchase rate. Apply for a Coles No Annual Fee Mastercard by 30 June 2024. No annual fee. Collect 1 point per $2 on eligible spend - That’s on top of the usual flybuys points from other partners Superior Security and fraud protection - the fraud management system and Mastercard’s zero liability guarantee give you peace of mind. Minimum credit limit - $1, 000 Apple Pay, Samsung Pay, ] | 0 | 0 | 30 | $product[$field["value"]] | 20.74 | Mastercard | More details | ||||
Coles No Annual Fee Mastercard | |||||||||||||
[Bankwest Qantas Rewards] | 0 | [Earn 1.00 Qantas Points per $1 up to $5, 000, 0.50 points per $1 after. 24/7 worldwide personal assistance with the Mastercard Concierge Service~ No foreign transaction fees on online and overseas purchases^ Range of complimentary insurance and purchase protection benefits~ Stay in control with alerts and payment reminders set up through your Bankwest mobile app Activate mobile payments with Android Pay Use your Mastercard at over 35 million locations worldwide Up to 3 additional cardholders at no additional cost Android Pay, Google Pay, ] | 0 | 0 | 25 | $product[$field["value"]] | 21.99 | Mastercard | More details | ||||
Bankwest Qantas World Mastercard | |||||||||||||
[flybuys] | 0 | [Coles Mastercard and flybuys card in one so you only have to carry one card instead of two. Get 50, 000 Flybuys points when you spend $3, 000 on eligible purchases within 3 months from approval. Apply for a Coles Rewards Mastercard by 30 June 2024?. Collect 2 Flybuys points per $1 on eligible purchases up to and including $3, 000 in each Statement Period and then collect 1 Flybuys point per $1 thereafter. Collect up to 2 Flybuys points per dollar on eligible purchases. Mastercard is accepted up to and including $3, 000 in each Statement No international transaction fee on purchases – when you’re shopping online or when you’re overseas. Superior Security and fraud protection - the fraud management system and Mastercard’s zero liability guarantee give you peace of mind. Minimum credit limit? $1, 000? , ] | 0 | 10 | 30 | $product[$field["value"]] | 20.74 | Mastercard | More details | ||||
Coles Rewards Mastercard | |||||||||||||
[Bankwest More Rewards] | 0 | [0% p.a. on balance transfers for 6 months. (1% BT fee) More Mastercard customers will earn 75, 000 annual bonus points each year, provided they meet the minimum spend requirements of $48, 000 on eligible purchases in any year from card account opening. Earn 2 Reward Points for every $1 you spend on eligible purchases**. No foreign transaction fees on online and overseas purchases. Use your points for cashback on your card. Complimentary Credit Card Travel Insurance for you and your family~. Up to 12 months extra warranty on top of the manufacturer\'s warranty.~ Purchase security cover. 3 months of free insurance against loss, theft or accidental damage on personal goods purchased anywhere in the world.~ Android Pay, Google Pay, ] | 0 | 0 | 25 | $product[$field["value"]] | 21.99 | Mastercard | More details | ||||
Bankwest Bankwest More Platinum MasterCard | |||||||||||||
[Qantas Rewards] | 0 | [Receive 20, 000 bonus Qantas Points when you spend $3, 000 or more on eligible purchases1 within 90 days from card approval. Earn 1 Qantas Point per $1 spent on eligible purchases, up to $1, 000 per statement period. After that, every $1 spent earns you 0.5 Qantas Points, up to a total of 7, 500 per statement period. (Qantas Bonus Points are not subject to capping) 0% p.a. Balance Transfer for 12 months from non-HSBC credit cards on application. Enjoy complimentary membership to the Qantas Frequent Flyer program (valued at $99.50) Complimentary Insurance package available including International Travel Insurance, Extended Warranty Insurance, Guaranteed Pricing Scheme, Transit Accident Insurance and Purchase Protection Insurance. Eligibility criteria and conditions apply. Up to 55 days interest free on purchases when you pay the full by the due date each month. Additional Cardholder at no extra cost. Visa Premium Benefits is your connection to money-can’t-buy experiences, from backstage passes to tickets to gallery openings. It’s a range of special privileges just for you. For more, visit visapremium.com.au Visa payWave7 for convenient contactless purchases under $100. Now available with Apple Pay®. Use your compatible Apple® device to tap and pay with an eligible HSBC credit card. Apple Pay, Android Pay, Google Pay, ] | 0 | 0 | 30 | $product[$field["value"]] | 21.99 | Visa | More details | ||||
HSBC Platinum Qantas Credit Card | |||||||||||||
[Qantas Rewards] | 0 | [Earn 60, 000 bonus Qantas points when you spend $4, 000 or more on eligible purchases† on a new Altitude Platinum credit card within 90 days of new card approval.> 0%p.a. for 18 months on balance transfers requested at card application. Reduced first year annual card fee of $99 ($175 thereafter)++ Apply between 2nd November 2023 and 30th April 2024. Platinum concierge service. Complimentary insurance cover. Apple Pay, Android Pay, Google Pay, Samsung Pay, ] | 0 | 0 | 15 | $product[$field["value"]] | 21.99 | Mastercard | More details | ||||
Westpac Altitude Qantas Platinum (Qantas Rewards) | |||||||||||||
[Everyday Money Rewards] | 0 | [0% p.a. for 14 months on balance transfers. Reverts to the variable cash advance rate $0 annual fee for the first year saving $49 Now available on Apple Pay Get cash back as Woolworths shopping cards 10% off your shop once a month on selected dates saving you up to $50 every month Minimum credit limit $6, 000, ] | 0 | 9 | 20 | $product[$field["value"]] | 19.99 | Mastercard | More details | ||||
Woolworths Everyday Platinum Credit Card | |||||||||||||
[Qantas Frequent Flyer] | 0 | [Earn 120, 000 bonus Qantas Points when you spend $4, 000 on eligible purchases on a new Altitude Black credit card within 90 days from card approval. 0% p.a. for 18 months on balance transfers when requested at card application. 1% balance transfer fee applies. After 18 months the rate reverts to the variable cash advance rate Offer ends 30th November 2021. T&Cs apply. Platinum concierge service. Complimentary insurance cover. Apple Pay, Android Pay, Google Pay, Samsung Pay, ] | 0 | 0 | 15 | $product[$field["value"]] | 21.99 | Mastercard | More details | ||||
Westpac Altitude Black (Qantas Rewards) | |||||||||||||
[Qantas Frequent Flyer] | 0 | [Earn 2 Qantas Frequent Flyer points for every $1 spent on Qantas products and services. Earn 1 Qantas Frequent Flyer point for every $1 spent on eligible purchases.. Complimentary Qantas Frequent Flyer membership. Complimentary overseas travel insurance. Emergency Overseas Visa Cash Advance - US$175 4.99% p.a. on balance transfers and purchases for your first 5 months. Up to 46 days interest free on purchases. Free additional card holder. 24/7 worldwide Visa Platinum Concierge Service. Access to Visa Platinum entertainment offers. Minimum credit limit $1, 000.00, ] | 0 | 0 | 0 | $product[$field["value"]] | 19.49 | Visa | More details | ||||
Qudos Bank Visa Platinum Credit Card | |||||||||||||
[Amplify Rewards or Amplify Qantas] | 0 | [150k Bonus points, when you spend $12k+ on eligible purchases in each year. (That can get you up to $675 each year in eGift cards.<) when requested at card application. 1% balance transfer fee applies if you make a balance transfer. The variable cash advance rate will apply after this promotional period. New cards only. Apply between 7th November 2023 and 30th November 2024 Celebrate birthdays with a birthday bonus - 10% of points earned in the past 12 months. A range of exclusive Signature benefits including membership to Visa Luxury Hotel Collection. Complimentary insurance covers if before leaving you prepay your travel costs using your Amplify Signature card as set out in the policy. 24/7 concierge service. $15, 000 Minimum credit limit Apple Pay, Google Pay, Samsung Pay, ] | 0 | 0 | 15 | $product[$field["value"]] | 21.99 | Visa | More details | ||||
BankSA Amplify Rewards Signature | |||||||||||||
[Amplify Rewards - OR - Amplify Qantas] | 0 | [Earn 90, 000 bonus Qantas Points on a new card, when you spend $6, 000 within 90 days from card approval. Exclusions apply. Start enjoying the rewards you want Amplify Qantas. Apply by 5th October 2021 Celebrate birthdays with a birthday bonus - 10% of points earned in the past 12 months. A range of exclusive Signature benefits including membership to Visa Luxury Hotel Collection. Complimentary insurance covers if before leaving you prepay your travel costs using your Amplify Signature card as set out in the policy. 24/7 concierge service. Apple Pay, Android Pay, Google Pay, Samsung Pay, ] | 0 | 0 | 15 | $product[$field["value"]] | 21.99 | Visa | More details | ||||
St.George Amplify Rewards Signature | |||||||||||||
[Amplify Rewards or Amplify Qantas] | 0 | [Earn 150k Bonus Amplify Points That could be worth up to $675 in eGift cards<, when you spend $12k+ on eligible purchases^. Plus, $199 card fee for the first year (reverts to $295)+ and 0% p.a. interest on balance transfers for 24 months#. When requested at card application. 1% balance transfer fee applies if you make a balance transfer. The variable cash advance rate will apply after the promotional period. 0% p.a. interest on balance transfers for 24 months# when requested at card application. 1% balance transfer fee applies if you make a balance transfer. The variable cash advance rate will apply after this promotional period. New cards only. Celebrate birthdays with a birthday bonus - 10% of points earned in the past 12 months. A range of exclusive Signature benefits including membership to Visa Luxury Hotel Collection. Complimentary insurance covers if before leaving you prepay your travel costs using your Amplify Signature card as set out in the policy. 24/7 concierge service. $15, 000 Minimum credit limit Apple Pay, Google Pay, Samsung Pay, ] | 0 | 0 | 15 | $product[$field["value"]] | 21.49 | Visa | More details | ||||
Bank of Melbourne Amplify Rewards Signature | |||||||||||||
[Amplify Qantas] | 0 | [Receive 80, 000 bonus Amplify Points When you apply for a new Amplify Platinum credit card and spend at least $3, 000 on eligible purchases made with the card within 90 days of card approval. 0% p.a. interest on balance transfers for 15 months when requested at card application. 1% balance transfer fee applies if you make a balance transfer. The variable cash advance rate will apply after this promotional period. New cards only. Apply by 28 September 2021. Enjoy uncapped points earning potential and double points earned on international spend (overseas merchants). Complimentary insurance covers if you pay for your travel costs with your Amplify Platinum card before you leave Australia, as set out in the policy. 24/7 Concierge. Add an additional cardholder at no extra cost. Apple Pay, Android Pay, Google Pay, Samsung Pay, ] | 0 | 0 | 15 | $product[$field["value"]] | 21.99 | Visa | More details | ||||
St.George Amplify Qantas Platinum | |||||||||||||
[Heritage Credits] | 0 | [Minimum credit $1, 000 Apple Pay, Google Pay, Samsung Pay, ] | 0 | 0 | 20 | $product[$field["value"]] | 19.99 | Visa | More details | ||||
Heritage Bank Visa Classic | |||||||||||||
[bcu Cash Back Rewards] | 0 | [Standard interest free period - up to 52 days A low rate card that earns cash back on purchases. If you are looking for a low rate Credit Card with the added bonus of cash back rewards, the new bcu Rewards card is the perfect choice for you. Additional cardholder option at no extra cost, provided they are over 16 years of age. Visa Global Customer Assistance with 24-hour worldwide emergency hotline for lost or stolen cards. Minimum credit limit $500 Card Replacement Fee $10.00, ] | 0 | 0 | 5 | $product[$field["value"]] | 14.8 | Visa | More details | ||||
BCU Bank Rewards | |||||||||||||
[flybuys] | 0 | [Coles Mastercard and flybuys card in one. Maximise your points when you scan your flybuys barcode before you pay. Enjoy 0% p.a. on Balance Transfers for 15 months. 1.5% Balance Transfer fee applies. Reverts to Cash Advance rate. Apply for a Low Rate Mastercard by 30 June 2024. No interest free days apply to Retail Purchases while you have a Balance Transfer. Collect 1 flybuys point per $2 you spend at Coles Supermarkets. Superior Security and fraud protection - the fraud management system and Mastercard’s zero liability guarantee give you peace of mind. Minimum credit limit? $1, 000?, ] | 0 | 10 | 30 | $product[$field["value"]] | 20.74 | Mastercard | More details | ||||
Coles Low Rate Mastercard | |||||||||||||
[home&Away Privilege Program] | 0 | [0% p.a. Balance Transfer for 20 months from non-HSBC credit cards on application (reverting to the variable cash advance rate), with a 2% balance transfer fee. A low interest rate of 12.99% p.a. and a $99 annual fee Up to 55 days interest-free on purchases when you pay the full balance (including any balance transfer, promotional purchases and the 0% p.a. balance transfer offer above) by the due date each month. Available to new, approved customers who apply for the HSBC Low Rate Credit Card. HSBC may change or end this offer at any time. Please see full terms and conditions below. Other fees and charges apply. Now available with Apple Pay®. Use your compatible Apple® device to tap and pay with an eligible HSBC credit card. Minimum credit limit $1, 000 Apple Pay, ] | 0 | 0 | 30 | $product[$field["value"]] | 25.99 | Visa | More details | ||||
HSBC Low Rate Credit Card | |||||||||||||
[Ascent Premium ] | 0 | [Receive a welcome bonus of 150, 000 Membership Rewards points when you apply online by 25 June 2024, are approved, and meet the minimum spend criteria of $5, 000 in the first 3 months. Available to new Card Members only. Receive a $450 Platinum Travel Credit each year, which can be redeemed for eligible flights, hotels, car hire or unique experiences. Transfer your points to a choice of 10 major Airline Reward Partner Programs including Qantas Frequent Flyer and Velocity Frequent Flyer Complimentary access for you and a guest to over 1, 400 Airport lounges across 140 countries and counting. Complimentary domestic and overseas travel insurance. Smartphone Screen Insurance for up to $500 for screen repairs to your Smartphone when you pay for your smartphone with your Platinum Card, either outright or on a monthly contract., ] | 0 | 0 | 6 | $product[$field["value"]] | 0 | AMEX | More details | ||||
American Express Platinum Card |
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As one of the biggest drivers of our nation’s economy, the ridgy-didge Aussie consumer deserves to be rewarded for their spending. With a credit card rewards program, they can be.
Attaining the consumer Nirvana of getting ‘something for nothing’ through a rewards credit card is not always simple though, especially given there’s the potential these rewards programs could leave you worse off.
At Savings.com.au, we want to help Aussie consumers make their rewards credit cards work harder for them and provide them with the net financial benefits they warrant, whether it be through sharing info on how to maximise their rewards point earnings or how to choose a suitable rewards credit card in the first place.
What are credit card rewards?
Credit card rewards are benefits earned by a consumer simply for spending with their credit card. These benefits often come in the form of rewards points. The more you spend, the more points you typically can accumulate.
Rewards points are usually redeemable for any of the following:
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Fuel and grocery shopping
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Store discounts and gift cards
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Flights, accommodation and seat upgrades
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Frequent flyer points (see our travel credit card section)
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Free and discounted tickets for things like concerts and movies
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Cashback and credit
Whether you can use your points for all of these will depend on the type of card you have.
What are the different types of rewards?
Essentially there are four different types of rewards programs:
Credit card rewards programs
General credit card rewards programs are offered by the credit card provider, allowing customers to accrue branded rewards points which can be redeemed for a variety of the things above. Rewards points from different programs often differ in value and the programs themselves usually have various partners that allow you to earn points faster for spending with them. Also, most credit card rewards programs allow points to be converted into frequent flyer points with specific frequent flyer programs.
Frequent flyer programs
Frequent flyer programs are very similar to credit card rewards programs but allow you to earn points specifically towards particular airline groups and their services. Credit card products attached to these programs can be offered directly from the airlines themselves (e.g such as the Qantas and Virgin Velocity Frequent Flyer credit cards) or through credit card providers like banks. Credit cards with a frequent flyer program attached can be more suitable for people who travel frequently, hence the name.
Retail rewards programs
Retail rewards programs help you optimise spending in certain stores – usually supermarkets or major retailers – offering high earn rates for in-store purchases. As well as points, these cards also offer customers instant rewards at the point of sale (like a discount on your current shop). These programs can help reduce the cost of your grocery and shopping bills.
Cashback rewards programs
Less common, cashback rewards programs offer to give members a percentage of their purchases back into their account. Some credit cards offer cashback deals as an introductory bonus, requiring new customers to spend a specified amount within a limited period of time to get, say, 5% cashback.
How to compare different rewards programs
When selecting the credit card rewards program that’s right for you, there are several things you should take into account.
How you earn points
The way points are accumulated varies from provider to provider. Typically, you earn a given number of points for every dollar you spend. When comparing between providers, you should work out exactly how many points you will earn per dollar you spend, as well as the dollar value of a point.
Some providers also have bonus point schemes. These usually apply after you meet a certain level of spending in a given time period. Bear in mind that these extra points are at least partially offset by the extra amount you’ll need to spend to earn them, so again it can pay to run the numbers.
Some providers will also cap the total amount of points you can earn in a month or year, or the points expire after a certain amount of time. This is something else you’ll want to research before you sign up for a rewards program, or you could be in for a nasty shock when you go to redeem your points.
What transactions can you earn rewards on?
Upon a bit of investigation, you will usually find that your credit card provider only offers points on ‘eligible’ transactions. This is normally a fairly broad definition, but will vary between providers.
Some transactions commonly deemed ineligible include:
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Gambling spending
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Government charges
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Interest and bank charges
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Loan repayments
What fees and interest rates apply?
These will vary with the card, but as a general rule, a rewards credit card is more likely to charge higher fees and carry a higher interest rate than non-rewards cards. This is because there tend to be costs associated with running a rewards program from a credit card provider, and fees and interest charges are one way they pay for it.
To make a rewards credit card worthwhile, the cost of the fees (such as the annual fee) and potential interest repayments need to offset the value you get from the card. So, if your card had an annual fee of $400 and you only got $300 worth of rewards back, then you’ve made a loss on that card.
Are reward credit cards worth it?
Rewards cards are definitely not suited to everyone. According to a 2018 study released by the Reserve Bank of Australia (RBA), 30% of customers make a net loss on their credit card, and inappropriate rewards schemes are a major factor in this. To get the maximum value out of certain rewards cards you may have to spend up to thousands of dollars a month, which not everyone is capable of doing.
Rewards and frequent flyer cards are generally more suited to big spenders and people who travel a lot. For those who are a bit tighter with money or are struggling financially, low rate or low annual fee cards are probably better options.
A good way to assess whether a rewards credit card is right for you is to take your spending over a certain period (say 6 months) without the credit card rewards. Then apply this level of spending to the rewards package you have chosen, and subtract the benefits you would have received, before adding the extra amount you would have paid in interest and fees. If this new number is less than your initial figure for spending, it’s likely a rewards credit card will be beneficial.
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The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered. Some providers' products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider's web site. Savings.com.au, yourmortgage.com.au, yourinvestmentpropertymag.com.au, and Performance Drive are part of the InfoChoice Group. In the interests of full disclosure, the InfoChoice Group are associated with the Firstmac Group. Read about how InfoChoice Group manages potential conflicts of interest, along how we get paid.
Savings.com.au Pty Ltd ACN 161 358 363 operates as an Australian Financial Services Licensee and an Australian Credit Licensee Number 515843. Savings.com.au is a general information provider and in giving you general product information, Savings.com.au is not making any suggestion or recommendation about any particular product and all market products may not be considered. If you decide to apply for a credit product listed on Savings.com.au, you will deal directly with a credit provider, and not with Savings.com.au. Rates and product information should be confirmed with the relevant credit provider. For more information, read Savings.com.au's Financial Services and Credit Guide (FSCG). The information provided constitutes information which is general in nature and has not taken into account any of your personal objectives, financial situation, or needs. Savings.com.au may receive a fee for products displayed.
Explore the InfoChoice Group network: InfoChoice · Your Mortgage · Your Investment Property · Performance Drive
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Important information
Savings.com.au provides general information and comparison services to help you make informed financial decisions. We do not cover every product or provider in the market. Our service is free to you because we receive compensation from product providers for sponsored placements, advertisements, and referrals. Importantly, these commercial relationships do not influence our editorial integrity.
For more detailed information, please refer to our How We Get Paid, Managing Conflicts of Interest, and Editorial Guidelines pages.
At Savings.com.au, we are passionate about helping Australians make informed financial decisions. Our dedicated editorial team works tirelessly to provide you with accurate, relevant, and unbiased information. We pride ourselves on maintaining a strict separation between our editorial and commercial teams, ensuring that the content you read is based purely on merit and not influenced by commercial interests.
Learn more about our commitment to editorial integrity in our Editorial Guidelines.
Our service is free for you, thanks to support from our partners through sponsored placements, ads, and referrals. We earn compensation by promoting products, referring you, or when you click on a product link. You might also see ads in emails, sponsored content, or directly on our site.
For more details, see How We Get Paid.
We strive to cover a broad range of products, providers, and services; however, we do not cover the entire market. Products in our comparison tables are sorted based on various factors, including product features, interest rates, fees, popularity, and commercial arrangements.
Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes.
Additionally, certain products may present forms designed to refer you to associated companies (e.g. our mortgage broker partner) who may be able to assist you with products from the brand you selected. We may receive a fee for this referral.
You can customise your search using our sorting and filtering tools to prioritise what matters most to you, although we do not compare all features and some results associated with commercial arrangements may still appear.
For more details, visit How We Get Paid and Managing Conflicts of Interest.
For home loans, the base criteria include a $400,000 loan amount over 30 years. For car loans, the base criteria include a $30,000 loan over 5 years. For personal loans, the base criteria include a $20,000 loan over 5 years. These rates are only examples and may not include all fees and charges.
*The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Monthly repayment figures are estimates that exclude fees. These estimates are based on the advertised rates for the specified term and loan amount. Actual repayments will depend on your circumstances and interest rate changes.
Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you.
Savings.com.au is proudly part of the InfoChoice Group, which includes InfoChoice.com.au, YourMortgage.com.au, YourInvestmentPropertyMag.com.au, and PerformanceDrive.com.au. The InfoChoice Group is associated with the Firstmac Group.
We may include products and services from loans.com.au, CarLoans.com.au, OnlineAuto.com.au, and YourMortgageBroker Pty Ltd, all associated with the Firstmac Group. Importantly, these brands are treated like any other commercial partner.
Learn more about how we manage conflicts of interest.
The information provided by Savings.com.au is general in nature and does not take into account your personal objectives, financial situation, or needs. We recommend seeking independent financial advice before making any financial decisions. Before acquiring any financial product, obtain and read the relevant Product Disclosure Statement (PDS), Target Market Determination (TMD), and any other offer documents.
Rates and product information should be confirmed with the relevant credit provider. For more information, read Savings.com.au’s Financial Services and Credit Guide (FSCG).
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