Rewards Program Credit Cards

Rewards credit cards earn you points for flights, travel upgrades, gift cards, cashback and more. Find out how these programs work and compare rewards credit cards to take your benefits to the next level.

Rewards credit cards have the potential to add a huge amount of value to your account, but you’ll need to compare your options to make sure the perks outweigh the costs. Here, you’ll find everything you need to know about rewards credit cards, including how they work, the different programs available and how to compare them.

ANZ Rewards Travel Adventures Card - Rewards Offer - PE-28212

Rewards Credit Card Offer

Earn Reward Points with the ANZ Rewards Travel Adventures card and enjoy a complimentary domestic flight each year until the card is cancelled.

  • Receive complimentary domestic return flight with Virgin Australia each year and enjoy two single entry Virgin Australia lounge passes each year until the card is cancelled when you spend $500 on eligible purchases in the first 3 months.
  • Earn 2 Reward Points for every $1 spent on eligible purchases using the ANZ Rewards Travel Adventures American Express® card and 1 Reward Point per $1 spent on eligible purchases using ANZ Rewards Travel Adventures Visa card.
  • $0 international transaction fee on purchases
  • Offer available to new and approved applicants

    Compare types of Rewards Credit Cards

    Rates last updated July 29th, 2016
    Bonus Points Rewards Points per $ spent (VISA/MC) Rewards Points per $ spent (AMEX) Annual fee
    ANZ Rewards Travel Adventures card
    ANZ Rewards Travel Adventures card
    1 2 $225 p.a. Go to site More info
    Citi Qantas Signature Credit Card
    Citi Qantas Signature Credit Card
    70,000 bonus points 1 0 $99 p.a. annual fee for the first year ($395 p.a. thereafter) Go to site More info
    Virgin Australia Velocity Flyer Card - Balance Transfer Offer
    Virgin Australia Velocity Flyer Card - Balance Transfer Offer
    0.66 0 $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
    HSBC Platinum Credit Card
    HSBC Platinum Credit Card
    1 0 $149 p.a. Go to site More info
    HSBC Platinum Qantas Credit Card
    HSBC Platinum Qantas Credit Card
    40,000 bonus points 1 0 $199 p.a. Go to site More info
    American Express Platinum Edge Credit Card - Exclusive Offer
    American Express Platinum Edge Credit Card - Exclusive Offer
    30,000 bonus points 0 1 $195 p.a. Go to site More info
    Virgin Australia Velocity Flyer Card - 0% Interest Offer
    Virgin Australia Velocity Flyer Card - 0% Interest Offer
    0.66 0 $129 p.a. Go to site More info
    American Express Essential Credit Card
    American Express Essential Credit Card
    1 $0 p.a. Go to site More info
    ANZ Frequent Flyer Platinum
    ANZ Frequent Flyer Platinum
    50,000 bonus points 0.5 1.5 $295 p.a. Go to site More info
    American Express Velocity Platinum Card
    American Express Velocity Platinum Card
    50,000 bonus points 0 1 $349 p.a. Go to site More info
    ANZ Rewards Platinum
    ANZ Rewards Platinum
    50,000 bonus points 1 2 $95 p.a. Go to site More info
    ANZ Rewards Black Credit Card
    ANZ Rewards Black Credit Card
    75,000 bonus points 1.25 3 $375 p.a. Go to site More info
    ANZ Frequent Flyer Black
    ANZ Frequent Flyer Black
    75,000 bonus points 0.75 1.5 $425 p.a. Go to site More info
    Virgin Australia Velocity High Flyer Card - 30k Bonus Points offer
    Virgin Australia Velocity High Flyer Card - 30k Bonus Points offer
    30,000 bonus points 1 0 $144 p.a. annual fee for the first year ($289 p.a. thereafter) Go to site More info
    Commonwealth Bank Business Awards credit card
    Commonwealth Bank Business Awards credit card
    1 1.5 $0 p.a. annual fee for the first year ($100 p.a. thereafter) Go to site More info
    American Express Qantas Discovery Card
    American Express Qantas Discovery Card
    7,500 bonus points 0 1 $0 p.a. Go to site More info
    Citi Rewards Credit Card - Classic Card
    Citi Rewards Credit Card - Classic Card
    1 0 $99 p.a. Go to site More info
    American Express Velocity Escape Card
    American Express Velocity Escape Card
    7,500 bonus points 0 1 $0 p.a. Go to site More info
    ANZ Business Black
    ANZ Business Black
    50,000 bonus points 1 $450 p.a. Go to site More info
    American Express Qantas Premium Card
    American Express Qantas Premium Card
    30,000 bonus points 0 1 $249 p.a. Go to site More info

    Rates last updated July 29th, 2016
    Bonus Points Points per $ spent Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
    Coles Low Rate MasterCard
    A low rate MasterCard with a competitive rate on purchases and a low annual fee.
    VISA/MC: 0.5 AMEX: 0 9.99% p.a. 0% p.a. for 6 months $49 p.a. Go to site More info
    David Jones American Express
    Receive 30,000 Membership Rewards points and earn up to 3 Rewards points for every dollar spent on everyday item and access exclusive in-store benefits to David Jones cardholders.
    30,000 bonus points 1 20.74% p.a. $99 p.a. Go to site More info
    David Jones American Express Platinum Card
    Earn 40,000 Membership Rewards points when you spend outside of David Jones 3 times in the first month.
    40,000 bonus points 1 20.74% p.a. $295 p.a. Go to site More info
    Rates last updated July 29th, 2016
    Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
    American Express Essential Credit Card
    Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card. Also enjoy a 0% p.a. balance transfer rate for 12 months.
    14.99% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. Go to site More info
    Virgin No Annual Fee Credit Card
    $100 cashback and a no annual fee card with balance transfer offer. Spend criteria applies for cashback offer.
    18.99% p.a. 0% p.a. for 18 months with 2% balance transfer fee $0 p.a. Go to site More info
    Citi Rewards Platinum Card - Cashback Offer
    Earn $250 cashback on eligible spend, plus enjoy 0% p.a. balance transfer offer for 12 months, discounted annual fees for the life of the card and a complimentary travel insurance.
    20.99% p.a. 0% p.a. for 12 months $99 p.a. annual fee for the first year ($199 p.a. thereafter) Go to site More info
    ANZ Platinum Credit Card
    Receive $200 back when you spend $500 in the first 3 months. Also enjoy a $0 annual fee for the first year.
    19.74% p.a. $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info
    ANZ First Visa Credit Card
    Receive $200 back when you spend $500 in the first 3 months. Also enjoy low annual fee, interest-free days on purchases and a low minimum credit limit.
    19.74% p.a. $30 p.a. Go to site More info
    Rates last updated July 29th, 2016
    Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
    American Express Platinum Edge Credit Card - Exclusive Offer
    Earn up to 3 points per $1 spent on purchases at major Supermarkets (including Coles and Woolworths), earn up to 2 points per $1 spent at major petrol stations, and 1 point for every dollar spent on all other purchases.
    20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $195 p.a. Go to site More info
    David Jones American Express
    The AMEX David Jones Credit Card gives you points for supermarket purchases. Earn 1.000 Points per $1 spent at all the major supermarkets.
    20.74% p.a. $99 p.a. Go to site More info
    David Jones American Express Platinum Card
    Earn 40,000 Membership Rewards points when you spend outside of store 3 times in the first month and up to 3.00 reward points for every dollar you spend at supermarkets.
    20.74% p.a. $295 p.a. Go to site More info
    Rates last updated July 29th, 2016
    Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
    American Express Platinum Edge Credit Card - Exclusive Offer
    Receive 30,000 Membership Rewards Bonus Points on sign up when you meet the minimum spend requirement. Earn 2 Membership Rewards Bonus Points for every dollar you spend at major petrol stations.
    20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $195 p.a. Go to site More info
    David Jones American Express
    The AMEX David Jones Credit Card gives you 3 points per dollar spent with fuel purchases at major petrol stations such as BP, Shell, Caltex and Mobil. Earn 1.000 Points per $1 spent.
    20.74% p.a. $99 p.a. Go to site More info

    How do credit card rewards programs work?

    Rewards credit cards give you benefits for using the account, usually in the form of points per $1 spent. These points can then be redeemed for specific rewards offered through the program.

    Credit card brands consider reward programs as an added benefit for customers and invest a lot of money in them, which is why some reward credit cards have higher annual fees and interest rates than other options. You can make sure the benefits of a reward credit card are worth more than what you pay for them but checking the costs associated with a reward credit card and compare them against the potential value of the program.

    Redeeming credit card rewards

    The rewards you can look forward to depend on the card, but some of the more popular redemption categories include:

    • Airfares
    • Flight upgrades
    • Accommodation
    • Gift cards
    • Cashback
    • Fuel vouchers
    • Instant shopping discounts
    • Fashion items
    • Electronics
    • Tickets to concerts and other events

    Each reward option within these categories has a point value (e.g. 10,000 points for a $20 gift card) and some programs, such as CommBank Awards, include points-plus-pay options. This means you can use a mixture of points and cash to redeem the reward.

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    Types of credit card reward programs in Australia

    Compare the specific credit card reward programs available and discover which one offers you the most value:

    Frequent flyer programs

    There are two main ways you can earn frequent flyer points with a rewards credit card in Australia:

    Types of frequent flyer reward cardsDescriptionExamples
    Direct earn frequent flyer reward cardsThese cards are linked with a specific frequent flyer program and rewards are added directly to your airline loyalty account.American Express Qantas Discovery card, earns 1 Qantas point per $1 spent, and the Virgin Australia Velocity Rewards card earns 1 Velocity point per $1.As well as credit cards that directly earn Qantas or Virgin Australia Velocity frequent flyer points, there are several cards that directly earn points for other airline loyalty programs, including the Emirates World Citi credit card and Jetstar’s Classic and Platinum MasterCards.
    Indirectly earn frequent flyer pointsOther credit card reward programs also let you transfer the points you earn to many different frequent flyer programs from all around the world.Credit cards that indirectly earn frequent flyer points in this way give you a lot more flexibility to switch between airline loyalty programs if you often fly with different companies.If you get a card that earns American Express Membership Rewards, for example, you have the option of transferring points to 10 different airline reward programs, including Qantas, Velocity, Air New Zealand’s Airpoints program and Singapore Airlines KrisFlyer program.

    Credit card brand rewards programs

    Credit card brands also have their own reward programs that are linked to a range of cards, including:

    • American Express
    • ANZ Rewards
    • Citi Rewards
    • CommBank Awards
    • Westpac Altitude Rewards

    Supermarket and retail reward programs

    A few reward credit cards are also linked to supermarket or retail reward programs, such as the Coles Rewards MasterCard, the Woolworths Everyday Money credit card and the David Jones American Express. This means that you can earn rewards points on your weekly grocery shop.

    Cashback credit cards

    These types of rewards give you a percentage of your total spend as cash back or provide a one off cashback sum when you apply for the credit card.

    Cashback credit cards and offers

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    How to compare reward credit cards in Australia

    Comparing credit cards helps you find the features that suit your lifestyle while also keeping costs affordable. Below, you’ll find a checklist of things to consider when you are comparing reward credit cards.

    Earning points

    • Points per dollar
      The more points you earn per dollar spent, the greater the potential value. A good rule of thumb is to look for a card that offers at least 1 point per $1 for most transactions, although it does depend on the reward program.
    • Point expiry and caps
      Some credit card reward points expire after a certain amount of time, and some accounts have a limit on how many points you can earn in a month or year. Both of these features can limit the potential value, so it’s important to take them into account before you choose a card.
    • Bonus point offers
      Reward credit cards often have signup deals that give you hundreds or thousands of bonus points. Check out these offers and what you need to do to earn the additional points so that you can make the most of the reward card you choose.

    Redeeming points

    • Reward values
      • Points value
        To work out the value of your rewards, consider how many points it would take to make redemptions. For example, it might cost 8,000 points to get a $50 gift card in one reward program, and 12,000 in another. So if your program has an earn rate of 1 point per $1 spent, you would’ve need to have spent $8,000 to redeem a $50 gift card. Breaking down the rewards like this can help you determine whether it’s worth your time and money.
      • Rewards partners
        Different banks have varying ranges of rewards partners, providing various options for stores and services to redeem from. Choose a credit card rewards program who has partnerships with your favourite brands and products.
    • Redemption limitations. 
      Some reward programs have blackout periods when you may not be able to make redemptions. Check the fine print for this information and consider the impact it could have on you.

    Rates & Fees

    • Annual fees
      Ideally, the value of the rewards you earn should be equal to or more than the annual fee of a credit card. For instance, if you hardly ever use a credit card and pay a $300 annual fee, you’ll end up losing more money than you gain. On the other hand, a premium reward option with a high annual fee could be worth it if you use your credit card for most purchases you make.
    • Interest rates
      Rewards points can be a great way to get something back for your purchases, but remember that you have to repay everything (plus interest). Consider how much interest your purchases will accrue to ensure whether the rewards you’ll receive outweigh the costs you’ll be forking out to repay your balance. You should also consider other costs on the card including cash advance rates and balance transfer rates.

    Other features

    • What other complimentary extras come with the card? Look for things like travel insurance, purchase protection and airport lounge access to get even more value out of the reward credit card you choose.
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    Will a rewards credit card work for you?

    The value of a rewards credit card depends as much on the cardholder as the actual card you choose. So rather than making a definitive statement about whether or not reward credit cards are valuable or expensive, let’s take a look at what types of people they are likely and unlikely to work for.

    A reward credit card could be ideal if you:

    • Pay off your credit card balance in full every month
    • Currently use a credit card on a regular basis
    • Have a clear idea of the type of points you want to earn
    • Are part of an existing reward program that could be complemented by a credit card (i.e. a frequent flyer program or shopping reward program)
    • Earn enough to pay a high annual fee
    • Can regularly make use of the rewards or complimentary extras on the card, such as insurance.

    A reward credit card might not be right if you:

    • Have a lot of credit card debt
    • Often carry a balance on your credit card
    • Rarely use a credit card
    • Won’t be able to regularly use complimentary extras on the card
    • Can’t afford a higher annual fee.

    It’s worth noting that there are exceptions in both of these cases. If you can’t afford a high annual fee, for example, you might still get a lot of value out of a reward credit card with no annual fee. On the other hand, if you regularly use a credit card but also have a lot of debt, it might be better to switch to a balance transfer or low interest rate credit card so that you get value out of paying less interest.

    The most effective way to tell if a reward credit card is worth it is to compare different options and consider your personal circumstances, so that you can choose a card that will work for you.

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    Frequently Asked Questions

    How can I view and manage my points?

    Most rewards programs allow cardholders or members to view their points through an online account centre. Usually you’ll need a membership number or username and password to log in. Once you’ve logged in, you should be able to view your points and redeem them for the desired rewards.

    Can I convert my points to points with another airline or issuer?

    Most rewards programs don’t allow members to directly convert their points for points with another system. However, some options, such as Qantas Frequently Flyer or Virgin Velocity, allow cardholders to earn and redeem points with partnered airlines and organisations. Read the terms and conditions or contact your rewards program directly to confirm where else you can earn and use your points.

    How many points will I need for a particular item or flight?

    The amount of points you’ll need will depend on your credit card, the product and the details of the flight. In terms of flights, most frequent flyer programs have a points calculator available on their website. If you enter your preferred route and ticket status, the calculator can determine how many points you’ll need to cover the flight.

    In regards to other types of rewards, most programs have an online catalogue that’ll allow you to browse the rewards on offer and how many points you’ll need to redeem a certain product or service

    I've redeemed a reward with my points, but now I've changed my mind. Can I refund my points?

    Again, this will depend on the credit card, but generally you can’t refund rewards or points once the transaction has been made.

    How do I know which rewards program or rewards credit card is for me?

    As a financial comparison service, we can’t recommend any specific product to our users. Instead, we provide them with the information they need to make an informed comparison and decision. When comparing rewards credit cards, consider your spending habits to determine whether the rewards you’ll receive will outweigh the costs of the card.

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    Was this content helpful to you? No  Yes
    American Express Essential Credit Card
    American Express Essential Credit Card

    Interest rate

    14.99

    Annual fee

    0
    More info
    HSBC Platinum Credit Card
    HSBC Platinum Credit Card

    Interest rate

    19.99

    Annual fee

    149
    More info
    NAB Low Rate Credit Card
    NAB Low Rate Credit Card

    Interest rate

    13.99

    Annual fee

    59
    More info
    ANZ First Visa Credit Card - Exclusive Offer
    ANZ First Visa Credit Card - Exclusive Offer

    Interest rate

    19.74

    Annual fee

    30
    More info
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    100 Responses to Rewards Program Credit Cards

    1. Default Gravatar
      Brian | July 5, 2016

      Need a replacement card as mine is almost beyond being usable

      • Staff
        Anndy | July 7, 2016

        Hi Brian,

        Thanks for your comment.

        May I know what type of card you are currently holding so I can assist you?

        Alternatively, you can also try logging into your account on your bank’s website and check if there is a feature for requesting replacement cards.

        Cheers,
        Anndy

    2. Default Gravatar
      Dawn | May 26, 2016

      I wish to be sent a new rewards card as mine is the old style & I was informed that the old style card will become extinct shortly.

      I will send my address when I hear from you.

      • Staff
        May | June 1, 2016

        Hi Dawn,

        Thanks for your comment.

        You have come through to finder.com.au we are an Australian financial comparison website and general information service and is not a credit card company.

        I’m afraid you’ll need to contact your card issuer directly to request for a replacement of your old rewards card.

        I apologise I couldn’t be of more help.

        Regards,
        May

    3. Default Gravatar
      ejay | April 27, 2016

      How do i access my savings

      • Staff
        Ysa | May 10, 2016

        Hi Ejay,

        Thanks for your question.
        To allow us to assist you further could you please state which credit card you are using?

        Cheers,
        Ysa

    4. Default Gravatar
      Steve | March 16, 2016

      Hi,

      Which provider is the most beneficial for us clients ?

      We accumulate a lot of points however with the current provider we need to redeem a lot of points (which I believe is extremely excessive)in order to receive.

      Example 500,000 points gets you 2 return tickets to Europe

      • Staff
        Ally | March 17, 2016

        Hi Steve,

        Thanks for your inquiry.

        Kindly note that finder.com.au is an online comparison service and is not in a position to recommend specific products, issuers, and services.

        Also, it highly depends on your personal situation and needs. It would still be best to compare the different options available to ensure that you choose the most ideal product for you.

        That said, you may want to take a look at the credit card options provided on the upper portion of this page or consider the options on the following pages:
        Sign-Up Bonus Credit Cards
        Qantas Frequent Flyer Credit Cards

        I hope this has helped.

        Cheers,
        Ally

    5. Default Gravatar
      Christine.leilua | February 8, 2016

      How do I apply for a card for Cole’s please.

      • Staff
        Debbie | February 8, 2016

        Hi,

        Thanks for your inquiry.

        To apply for Coles credit card, kindly go through this page.

        I hope this helps.

        Cheers,
        Debbie

    6. Default Gravatar
      Chris | September 11, 2015

      Hi, what is a good Visa corporate credit card for a small business that has a great reward points program that can be used to book fares on multiple airlines (and not linked to one sole airline such as Qantas or Velocity), ideally uncapped points, good conversion ratio, low annual charges?

      Thanks
      Chris

      • Staff
        Jonathan | September 14, 2015

        Hi Chris,

        Thanks for your inquiry.

        Please note that finder.com.au is an online comparison service and is unable to recommend specific products. If you would like to compare a range of corporate credit cards, please visit this page. Cards can be compared on reward points earnings rates, annual charges and other features.

        I hope this has helped.

        Cheers,

        Jonathan

    7. Default Gravatar
      jeffrey | July 23, 2015

      Which cards do not cap their points?

    8. Default Gravatar
      KP | July 22, 2015

      Hi, can you please let me know what products or services I can redeem my points on and how many points is required for each product or service.

      • Staff
        Jonathan | July 23, 2015

        Hi KP, thanks for your inquiry!

        To allow us to assist you further can you state which rewards program you are asking about please?

        Cheers,

        Jonathan

    9. Default Gravatar
      Bec | June 23, 2015

      Hi
      I am looking at consolidating my 9k credit card debt to an 0% interest free card to get on top of things. I asked you a few weeks ago about the best Frequent Flyer card, however I have heard that you can get a bad credit rating on the radio from consolidating debt – is this true? Thanks!

      • Staff
        Jonathan | June 23, 2015

        Hi Bec, thanks for your inquiry!

        A bad credit rating can arise if too many applications are made within a frequent period or if your application is declined. As long as you meet the application criteria for a lender you are eligible to apply for the credit card service/ balance transfer offer. Please refer to the following link for a list of balance transfer credit card offers and a guide on the balance transfer process.

        Cheers,

        Jonathan

    10. Default Gravatar
      g | June 19, 2015

      After years of using everyday awards with Safeway / Woolworths, where are my credit points with Qantas? I should have many 1000′s.

      • Staff
        Jonathan | June 19, 2015

        Hi G, thanks for your inquiry!

        Checking your Qantas credit points balance can be done by logging into your Qantas Frequent Flyers account or contacting Qantas Frequent Flyers directly. Please refer to the link I have sent to your email to check your Qantas points balance.

        Cheers,

        Jonathan

    Credit Cards Comparison

    Rates last updated July 29th, 2016
    Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
    Virgin Australia Velocity Flyer Card - Balance Transfer Offer
    Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
    20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
    American Express Essential Credit Card
    Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card. Also enjoy a 0% p.a. balance transfer rate for 12 months.
    14.99% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. Go to site More info
    Citi Qantas Signature Credit Card
    Earn up to 70,000 bonus Qantas Points on eligible spend, plus enjoy a 0% p.a. for 6 months offer on balance transfers.
    20.99% p.a. 0% p.a. for 6 months $99 p.a. annual fee for the first year ($395 p.a. thereafter) Go to site More info
    ME Bank frank Credit Card
    Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
    9.99% p.a. $0 p.a. Go to site More info

    * The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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