Companion Credit Cards

Information verified correct on October 1st, 2016

The idea behind companion credit cards is that you get the best of both worlds* – the widespread acceptance of Visa or MasterCard, and the kudos and extra privileges of American Express.

All the big four banks – NAB, Commonwealth, Westpac and ANZ – now operate companion credit card schemes, and they are designed to speed up the rate at which rewards points can be accumulated. Where Visa and MasterCard purchases may bring one point per dollar spent, American Express card purchases can often bring two or three points per dollar.

The idea is that you use your American Express card where it is accepted and earn more points per dollar for doing so. American Express does not enjoy the same coverage as Visa or MasterCard, so many people who opt for just one credit card would not choose Amex above Visa or MasterCard.

Companion credit cards are a way round this. They operate as one account, have one annual fee, and all points count towards one rewards program. The downside is that it can cost more in terms of an annual fee to use an American Express credit card companion offer. The APR on these cards also tend to be above average.

These are the Amex companion credit cards being offered by the big four banks to accompany their Visa or MasterCard offerings. Below is table of the major dual credit cards offers in market.

ANZ Frequent Flyer

Companion Credit Card Offer

The ANZ Frequent Flyer is a companion credit card that will get you to your desired destination in no time at all. Earn Qantas Points for every $1 spent.

  • $95 p.a. annual fee
  • 19.99% p.a. on purchases
  • Cash Advance Rate of 21.49% p.a.
  • Up to 44 days interest free
  • Minimum Income Requirement of $15,000 p.a.

Companion and Dual AMEX Credit Cards Comparison

Rates last updated October 1st, 2016.

ANZ Rewards Platinum

Receive 50000 bonus Rewards Points

June 15th, 2016

ANZ Frequent Flyer

removed FYF offer + extended 25k bonus points offer

June 15th, 2016

ANZ Rewards Credit Card

Receive 25000 bonus Rewards Points

June 15th, 2016

View latest updates

Jonathan Choi Jonathan
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
ANZ Frequent Flyer Black
Earn up to 75,000 bonus Qantas Points after you make your first eligible purchase within 3 months of card approval plus earn 1.5 points per $1 spent. Easier payments with Apple Pay.
19.99% p.a. $425 p.a. Go to site More info
ANZ Frequent Flyer Platinum
Get 50,000 bonus Qantas Points after first eligible purchase is made within three months. Earn up to 1.5 Qantas Points per $1 spent on purchases.
19.99% p.a. $295 p.a. Go to site More info
ANZ Frequent Flyer
Receive 25,000 bonus Qantas Points after your first eligible purchase is made within 3 months of card approval, enjoy easy payments using Apple Pay and earn 1 Qantas Point per dollar spent.
19.99% p.a. $95 p.a. Go to site More info
ANZ Rewards Credit Card
Get 25,000 bonus Reward Points after your first eligible purchase is made within 3 months of card approval and earn 1.5 points per dollar spent.
18.79% p.a. $80 p.a. Go to site More info
ANZ Rewards Platinum
Receive 50,000 bonus Reward Points after your first eligible purchase is made within 3 months of card approval and earn up 2 Reward Points for every dollar spent on purchases.
18.79% p.a. $95 p.a. Go to site More info

As a point of interest, the Australian Securities & Investments Commission has recently taken an interest in NAB’s companion credit card scheme, specifically as it relates to NAB Qantas Gold account customers. ASIC was concerned that the distribution of these new Amex companion cards was unsolicited and potentially in breach of the Australian Securities and Investments Commission Act 2001, which prohibits the sending of unsolicited credit and debit cards, except where:

  • a customer has requested the card in writing; or
  • the card is sent in renewal or replacement of, or in substitution for, a card of the same kind previously sent to the customer

Between February and May 2009, NAB proactively migrated customers with a NAB Gold Rewards account (MasterCard or Visa card) to an NAB Qantas Gold account (with a MasterCard or Visa card, and a companion American Express card). NAB has now written to all of its Qantas Gold account customers, giving them the option to opt in or opt out of their companion credit cards scheme in writing.
Information on how to earn rewards points on credit cards

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Credit Cards Comparison

Rates last updated October 1st, 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
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 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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