Rewards Credit Cards

Earn points as you spend to get free flights, upgrades, free gifts, shopping vouchers, cash back and more with rewards cards.

Receive 100,000 bonus Qantas Points (Spend Conditions Apply).
0% p.a. for 18 months on balance transfers.
Reduced annual fee of $149 p.a. in the first year ($299 p.a. thereafter).

A rewards credit card gives users something extra for spending money they would have spent anyway. Competition among banks means there are many such cards to choose from. Of course, for something extra, the banks also expect something in return.

The types of rewards include points per dollar spent that can be redeemed for flights, hotel stays, merchandise, gift cards and cash back. The cards vary in what they offer, and you should consider your habits when deciding on the right one. If you don’t travel often, for example, there is little point in getting a card that awards points toward miles on a particular airline. In addition, the value of award points can be deceiving: even if you do get 2 points per $1 spent on a certain credit card, you may need three times as many points for, say, a flight, than on a card that only awards one-for-one. The best way to understand what you get is through maths: calculate the worth of each point in dollar terms. And keep in mind that plenty of reward programs, particularly the ones that sound too good to be true, are actually betting that consumers will not redeem the rewards at all because of cumbersome restrictions they impose on redemption. Then there’s the fine print – on some cards, points will expire due to inactivity, for example.

Banks do consider rewards programs an added feature, so the annual fee and the purchase rate on a rewards card could both be higher than on a standard card. But with the variety of rewards programs and constant competition, there is probably a card that will suit you. Many cards listed in this table also offer sign-up bonus points, some offer programs that can be redeemed on any airline, and a few have added benefits for travellers, such as complimentary travel insurance. If there is something you are looking for in particular, the Smart Search tool can help you winnow your choices down.

My monthly spend: 
$5,000
 
Reward programs: 
All reward programs
Features: 
All features
Types: 
All types
rewards program
earn rate
sign up bonus
Points earned
Qantas Premier Platinum Credit Card
Apply by 28 feb 19
Receive 100,000 bonus Qantas Points (Spend Conditions Apply).
0% p.a. for 18 months on balance transfers.
Reduced annual fee of $149 p.a. in the first year ($299 p.a. thereafter).
More info
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Qantas Frequent Flyer
Qantas Frequent Flyer
1 pt
per $1 spent
100,000
points
after spend criteria
Get 50,000 points when you apply online, are approved and spend $3,000 in the first 3 months.
Receive a $400 Travel Credit each year towards any flights, hotels and car hire when you book online with this card.
Enjoy up to two entries per year to the American Express Lounge at Sydney or Melbourne Airports.
More info
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Membership Rewards Gateway
Membership Rewards Gateway
2 pts
per $1 spent
50,000
points
after spend criteria
Transfers to 37,500
Velocity points
ANZ Frequent Flyer Black Credit Card
Apply by 31 mar 19
15 reviews
120,000 bonus Qantas Points and $150 back when you spend $7,500 on eligible purchases in the first 3 months.
Earn 1 Qantas Point per $1 spent on eligible purchases up to $7,500 per statement period.
Get complimentary Overseas Travel and Medical Insurance (eligibility criteria apply) provided by QBE Insurance.
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Qantas Frequent Flyer
Qantas Frequent Flyer
0.5 pts
per $1 spent
120,000
points
NAB Qantas Rewards Signature Card
90,000 Qantas Points when you spend $4,000 on everyday purchases in 60 days.
Seven complimentary insurances when you make an eligible purchase.
Reduced Annual Card Fee of $295 in first year (reverts to $395 after first year).
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Qantas Frequent Flyer
Qantas Frequent Flyer
1 pt
per $1 spent capped
90,000
points
after spend criteria
Receive 50,000 bonus Velocity Points when you apply online, are approved and spend $3,000 on your card within the first 3 months.
Earn 1.25 Velocity Points per $1 spent, except government bodies where you will earn 0.5 Velocity Points per $1 spent.
A complimentary domestic return flight every year with travel insurance and entry into Virgin Australia Lounges.
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Velocity Frequent Flyer
Velocity Frequent Flyer
1.25 pts
per $1 spent
50,000
points
after spend criteria
Woolworths Everyday Platinum Credit Card Shopping Offer
Apply by 31 jan 19
Get a $50 Woolworths eGift Card* (Spend Conditions Apply).
Every month you’ll get 10% off your first shop at Woolworths on selected dates – Saving you up to $50 every month.
$0 annual fee for the first year, saving you $49.
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Shopping Card Points
Shopping card points
1 pt
per $1 spent
-
Suncorp Clear Options Platinum Credit Card
Apply by 31 jan 19
4 reviews
ONLINE EXCLUSIVE
Receive up to 60,000 Bonus Reward Points when you spend $1,500 each month for six months from card approval.
0% p.a. on balance transfers for 18 months..
$49 annual fee for the first year.
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Qantas Frequent FlyerSuncorp Rewards
Suncorp Rewards or Qantas Frequent Flyer
1.25 pts
per $1 spent capped
60,000
points
Virgin Australia Velocity Flyer Credit Card Points Offer
Apply by 31 jan 19
Earn up to 60,000 bonus Velocity Points (Spend Conditions Apply).
Save money with 0% p.a. for 18 months on balance transfers. (reverts to cash advance rate)
$129 Virgin Australia Gift Voucher which cardholders get each year.
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Velocity Frequent Flyer
Velocity Frequent Flyer
0.66 pt
per $1 spent capped
60,000
points
after spend criteria
American Express Westpac Altitude Black Card Bundle (Qantas)
Apply by 02 apr 19
Earn up to 120,000 bonus Qantas Points when you apply for the two-card bundle issued by Westpac and Amex until 2nd April 2019. (Conditions Apply)
Earn up to 2 Qantas points per $1 spent on eligible overseas purchases. (Amex)
Westpac Mastercard issued and serviced by Westpac. AMEX Westpac Altitude Card issued & serviced by American Express.
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Qantas Frequent Flyer
Qantas Frequent Flyer
1.25 pts
per $1 spent
120,000
points
after spend criteria
HSBC Platinum Qantas Credit Card
Apply by 31 mar 19
5 reviews
Earn 1 Qantas Point per $1 spent, up to $2,500 every month. Every $1 spent thereafter will earn 0.5 Qantas Point. (Capped at 7,500 per statement period)
0% p.a. for 12 months on balance transfers with no balance transfer fee.
No annual fee for the first year. ($79 p.a. thereafter)
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Qantas Frequent Flyer
Qantas Frequent Flyer
1 pt
per $1 spent capped
-
Get 55,000 bonus Qantas Points when you apply online, are approved and spend $3,000 in 3 months.
Earn 1.25 pts per $1 spent on card purchases.
$450 Qantas Travel Credit each year. (Conditions Apply)
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Qantas Frequent Flyer
Qantas Frequent Flyer
1.25 pts
per $1 spent
55,000
points
after spend criteria
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Receive up to 100,000 Qantas Points

Spend conditions apply.
Qantas Premier Platinum Credit Card
Receive 100,000 bonus Qantas Points. Earn 70,000 bonus points when you spend $3,500 in the first 90 days of approval and once the annual fee is paid on the anniversary of the card, allow up to 12 weeks for the remaining 30,000 bonus points to be awarded.
0% p.a. for 18 months on balance transfers.
Reduced annual fee of $149 p.a. in the first year ($299 p.a. thereafter).
2 complimentary Qantas Club lounge invitations per year.
Save up to 20% on selected Qantas and QantasLink flights within Australia (conditions apply).

Citigroup Pty Limited ABN 88 004 325 080 AFSL No. 238 098 Australian credit licence 238098, is the Credit Provider and Issuer of the Qantas Premier credit cards on behalf of Qantas Airways Limited ABN 16 009 661 901.

Q&A's about Rewards Credit Cards from customers

Q: Is this the right card for me?

If you travel a lot, for business or pleasure, you’ll be spending enough on flights and hotels and other things to earn good points toward more flights and hotel stays. Keep in mind that not all reward points programs give you the option of redeeming points for travel, but most do. On the other hand, if you’re spending more than, say, $2,000 per month, you’ll be able to earn good points whether you travel or not. If you don’t use a credit card often, you won’t be earning many points unless you’re happy to change your lifestyle and use your credit card for everything, making sure you pay back the balance on time each month of course.

Q: Am I eligible to get one?

To qualify, you’ll need to be over 18 and an Australian resident. If you have a poor credit rating, or your income is very low, you might have trouble getting approval for a new rewards credit card and the rejection could damage your credit rating, so be careful.

Q: What types of rewards are available?

There are a host of programs with which you can redeem your points for flights. Make sure you check whether they’re just redeemable with specific airlines, like Qantas or Virgin, or whether you can choose between a good selection of reputable airlines.

Other cards allow you to redeem points for things like hotel stays. Sometimes you have to book through certain partner travel agencies or with certain hotel brands, so check to see how much freedom you actually have. If you’re a traveler, you might also want to check if you get complimentary travel insurance included in the features of the card.

If travel isn’t your thing, you’ll be looking for other ways to redeem points. Many programs have online stores where you can purchase a range of products and merchandise – everything from watches, to technical gadgets, to cologne. Have a look at the store before you sign up and make sure they sell things you’d actually want or need and that items are a good deal.

Fourthly, you can redeem points for gift cards or cash back. Sometimes it is more efficient to do one rather than the other so you want to read the fine print.

Q: How can you tell a good rewards program from a bad one?

There are several factors to consider:

Points are not equal across programs: You usually earn 1 point per $1 spent, but sometimes this goes as high as 3 points. But a point with one program is not equivalent to a point with another program – it depends on what those points actually buy.

Points capping, points expiration: Most programs limit the amount of points you can earn in, say, a year. For the big spender particularly, this can be limiting and frustrating. Secondly, some points expire. This is a frustration for the lower spender who might take a while to build up enough points to get anything of real value. Both capping and expiry information will be found in the small print of the program.

Annual fees and interest rates – You should see whether there are annual or start up fees involved in signing up for the reward program and for the credit card. In addition, rewards points credit cards often come with both higher fees and interest rates.

Flexibility – Some cards only allow points for flights on one airline; others allow users to exchange them for flights on several airlines, or redeem them for cash back, merchandise or gift certificates.

Ease of points redemption – Unfortunately, some companies make it quite difficult to redeem points in the hope that people won’t bother. You might have to squint through the depths of the fine print to find out how on earth to get something back for your points. Look for a rewards points program that makes redemption simple and straight forward. Some even offer automated redemption, where cash back goes straight into your account at the end of the month based on the points you’ve earned.

Bonus points – As an introductory offer, many reward credit cards will offer you the opportunity to earn bonus points. Sometimes to get them you have to spend a lot of money or shop in a particular store.

Q: Do balance transfers and cash advances earn reward points?

They do not. And, in fact, a rewards credit card may have higher interest rates on these transactions than a regular card.

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