How to Earn Points Faster: Bonus Partners
Posted February 7th, 2009 and last modified November 21st, 2011
Featured Frequent Flyer Rewards Points Credit Card
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- Minimum Income Requirement of $15,000 p.a.
- Uncapped Qantas Frequent Flyer points1 earning.
Rewards Credit Cards and Their Bonus Partners
What do credit card issuers and merchants who accept credit cards want you to do? Spend – that’s what. And both offer plenty of incentives for you to do just that. Credit card issuers are willing to offer you so-called points for using their reward cards. Many merchants – bonus partners – are willing to compound those rewards if you shop with them. Rewards credit cards and the merchants who accept and embellish them, pretty much offer the credit card user a winning situation – if the user wisely wields the card.
Rewards credit cards and the merchants who accept them, pretty much offer the credit card user a winning situation – if the user wisely wields the card.
What Is a Rewards Credit Card?
Rewards cards have been around almost as long as credit cards themselves. The most remembered first rewards plans involved frequent flyer miles for those who charged airline tickets. Nowadays rewards cards not only offer air miles and travel rewards, but also merchandise, shopping vouchers, cashback offers, and even charitable contributions. Many cards focus on niche lifestyles, such as scuba divers and rock climbers, or even rock or opera concert fans.
Many rewards cards focus on niche lifestyles, such as scuba divers and rock climbers, or even rock or opera concert fans.
What Is a Bonus Partner?
While rewards credit card issuers offer users incentives to shop, many have aligned with merchants and service providers to multiply those incentives. While an issuer may offer a point for every dollar spent, certain merchants are willing to double – sometimes quadruple or more – those points if you shop with them.
Getting On the Bonus Fast Track
Taking advantage of these incentives can put you on the fast track to accumulating significant rewards on your credit card. And considering the variety of bonus vendors and bonus brands that have partnered with rewards cards issuers, these bonuses can be accumulated just for buying groceries or petrol – money you would have spent anyway.
Bonus points can be accumulated just for buying groceries or petrol – money you would have spent anyway.
Most rewards credit card issuers have affiliated themselves, on average, with over 20 merchants and service providers – bonus partners. You’re bound to find goods and services you would usually need or want, and earn extra bonus points getting them.
What Are the Bonuses Offered?
As mentioned, merchants and service providers are as varied as the issuers who partner with them. Here are some examples of rewards credit cards and the points earned by spending with their bonus partners:
- ANZ: Their cards which offer reward points feature 2-6 points for every $1 spent at FastFlowers (depending on how much you spend), 3 points at O’Brien Automotive, 2.5 at Prouds, 2-4 at Accor and plenty more retailers and services.
- Commonwealth Bank: Their ‘Awards’ program offers 4 points for every $1 spent at eFragrance and Thrifty, 3 points at Rendezvous Hotels & Resorts International, and 2 points at Cellarmasters, Bob Jane T-Marts, Hoyts and Napoleon Perdis among many more.
- Westpac: This issuer offers Bonus Partners with their Altitude program, including: 2 points for every $1 spent at Lorna Jane, 2 points spent on ‘The Economist’ Magazine, and 500 reward points if you spend $500 or more at Avis.
- Woolworths: Their Everyday Money card gives 3 points for every $1 spent at Woolworths and Safeway Stores (excluding online purchases) and 2 points for every $1 spent at Caltex, Big W Dick Smith and other stores.
Where Can I Find Credit Cards That Feature Bonus Partners?
The examples pulled above are just the tip of the bonus points iceberg. If you want a more comprehensive over view of rewards cards issuers and the merchants and service providers who have partnered with them, check out the Australian reward program cards section of this website.
Do I Need to Be Careful About Bonus Partner Deals?
Merchants who sign on with credit card issuers do not usually present any problems to credit card users. Their offerings are pretty straight forward. Credit card issuers who offer rewards on purchases aren’t usually a problem either. You will want to do extensive research regarding the accumulation of points and their redemption value. Are there caps or time limits on the rewards?
How Do I Make a Rewards Credit Card Work?
The user who wields a rewards card has to be pretty careful that rewards actually pan out to be rewarding. Considerations include:
- Paying the Entire Balance Every Billing Cycle
Too much debt left on a rewards card from month to month will easily eat up any reward benefits with interest rates. Rewards cards usually carry higher-than-average interest rates.
- Spending at Least $1,000 a Month
Unless the spending is sufficient to accumulate rewards of any significance, having a rewards card is useless. Yet, spending just to accumulate rewards points is a way to onerous debt.
- Paying Attention to Annual Fees and Other Costs
If your annual fee is $100, how much spending will you have to do just to cover that fee? Other costs may be inherent with certain cards. Read all the fine print; do your maths.
Win, Win, Win with Rewards Credit Cards and Their Bonus Partners
When a savvy rewards credit card user spends responsibly, he or she wins extra bonus points, the credit card issuer wins, and the bonus partners win. The key words are “savvy” and “responsible” when it comes to making bonus cards work. Do the necessary research to gain savvy, spend responsibly, and you can reap plenty of extra rewards from your credit card company and its bonus partners.
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