Reward Program Point Value Compare Table

Best Rewards Points Credit Card
Combine both low interest and a platinum reward’s program and you have the Citibank Clear Platinum Visa Card – a rare breed of credit card, now offering a low rate on purchases and an amazing introductory offer on balance transfers!
- $49 (First Year, Save $50) annual fee
- 11.49% p.a. on purchases
- 20.99% p.a. on cash advances
- 0.99% p.a. for 6 months on balance transfers
- Minimum requirement of $50,000 earnings per annum for application approval.
Listed below is Credit Card Finder’s own reward program comparison table. Compare the value of similar and identical products across different reward programs to get a clear evaluation of Australia’s biggest and best credit card reward programs.
Read our reward program resources if you’d like to know more about reward credit cards before going into the inner details of the programs.
We take only a few popular products and services to redeem in order for an easy and quick comparison.
- The $100 Myer/Caltex Vouchers are the reward point cost of the voucher. If the card is not available, a similar retailer/petrol station card will be substituted i.e David Jones, Harvey Norman, Shell or BP. If a $100 card is not available, then a $20, $25 or $50 voucher will be used and multiplied accordingly to give the reward point cost of $100.
- The ‘Flight Syd to Melb‘ is the point cost of the average discount flight from Sydney to Melbourne. Some providers may only let you fly on specific dates, typically in the middle of the week when it’s cheaper. If the reward’s program does not directly offer flights as redeemable rewards, a travel voucher will be used in its place. For the sake of this table, we will assume an average discount fare from Sydney to Melbourne costs $100.
- The ‘Cashback Value‘ is how many points you need to redeem for $1 of credit or cash (subjective to what the program offers). No program actually allows you to redeem in $1 incriments, more commonly you can receive cashback in $25, $50, $100, $200 or $250.
- The ‘Average $ Value of Point‘ is taken as an average from a wider range of products than the ones listed below. The higher, the more value.*
- Point Expiry: Some reward programs have point expiry for the points you have earned. Most of the time, if the program has point expiry they will most likely expire 1-5 years after they have been accumulated. Others have more specific conditions such as point expiry when your account falls out of good standing.
- Point Capping: There are two forms of point capping. The first is done in order to entice consumers, reward programs will sometimes offer a high dollar:point ratio as an introductory offer, such as “3 points for every dollar you spend on your card”. If you analyze the fine print, you’ll find that this will only apply to the first $5,000 or so spent on your card per year. Others have a standard hierarchy of point capping, with a tiered system which progressively gives you less points after certain spending milestones per year. The other type of point capping will simply have a cap on how many reward points you can earn per year/month.
Even if a reward program is listed as ‘No‘ for Point Expiry, this is assuming that the account remains open. If your account becomes un-current, points will typically expire from 12-36 months.
Take note that on the surface of this table, the value can be misleading – while most reward programs offer 1 reward point for every $1 spent, many have promotional reward point offers which allows you to quickly accumulate points, and raise the value equation in your favour.
Every consumer has their own individual spending patterns, financial leanings and levels of income, and thus will have to take their own circumstances into account when judging what reward program is best for them.
Reward Program Comparison
| Reward Program | Details | $100 Myer Card | $100 Caltex Card | Flight Syd to Melb | Cash Back Value | Average $ Value of Point | |
|---|---|---|---|---|---|---|---|
|
‘Membership Rewards’ Point Expiry: No Point Capping: No - |
Be wary that American Express cards tend to have higher annual fees. AmEx also isn’t as widely accepted as Visa or MasterCard. Nevertheless, good dollar:point value.
*Caltex not available. The Petrol card is a $100 BP voucher. *One way flight from Sydney to Melbourne |
13500 | *13500 | 8070* | 145 | 0.0066 | |
|
‘ANZ Rewards’ Point Capping: Yes* - *Maximum of $50,000 spend for reward points on ANZ Rewards Standard. *Maximum of $100,000 spend for reward points on ANZ Rewards Gold. |
ANZ’s main rewards program, covers ANZ Rewards Standard and ANZ Rewards Gold. Does not cover the Balance Visa card.
*Figure taken from Harvey World Travel $100 voucher. |
13320 | 14650 | 13320* | 137.5 | 0.0071 | |
|
‘Balance’ Point Capping: No - $1 = 1 Point. |
The ANZ Balance Visa card rewards you with points for every $1 you repay from your balance. As the method of earning points is different, so does the program differ.
*Figure taken from Harvey World Travel $100 voucher. |
20000 | 22000 | 20000* | 225 | 0.0048 | |
‘Business Rewards’ Point Capping: No - $1 = 1 Point. |
BankWest’s reward program for businesses, on their business credit card.
*$100 Card is for David Jones. *Figure taken from VirginBlue $100 voucher. |
17500* | 17500 | 20900* | 175 | 0.0056 | |
BankWest ‘More’ Rewards Point Capping: Yes* - $1 = 1.5-2.0 Points *Maximum of 150,000 to 400,000 points per year, depending on which card you own. |
BankWest’s standard rewards program. An expensive rewards program on the surface, yet the standard earning rate is 1.5 points per dollar spent (2.0 points for More Platinum), making it of decent value.
*$100 Myer card not available. Figure taken from $50 Myer voucher which costs 12,000 points. *$100 Caltex card not available. Figure taken from $50 Bunnings voucher which costs 12,000 points. *Flights not available. Figure taken from $50 Virgin Blue travel voucher which costs 12,000 points. |
24000* | 24000* | 24000* | 300 | 0.0040 | |
|
Citibank ‘Rewards’ Point Capping: Yes* - |
Citibank’s reward range for the Citibank Silver, Gold & Platinum Credit Cards.
*Figure taken from VirginBlue or Flight Centre $100 voucher. |
16500 | 18000 | 15500 | 200 | 0.0059 | |
|
Commonwealth ‘Awards’ Point Capping: Yes* - |
Commonwealth Bank’s reward range for the Commonwealth Awards, Gold, Platinum.
A simple and all-round rewarding program. |
16200 | 16200 | N/A | 200 | 0.0062 | |
|
GE Money ‘GO Rewards’ Point Capping: No -
|
GE Money Australia’s ‘GO’ Rewards program.
*Myer/David Jones not available. Figure is taken from a $100 Harvey Norman voucher. |
13130* | 13130 | N/A | N/A | 0.0063 | |
Macquarie Bank ‘Rewards’ Point Capping: No - $1 = 1 – 1.25 Points. |
Macquarie Bank offer two credit cards, and one with a rewards program, the Platinum Visa Card.
*$100 Caltex card not available. Figure it taken from a $100 Bunnings vouchers. *Figure is taken from a $100 pre-paid card which costs 16575 points to redeem. |
14950 | 14950* | 12990 | 166* | 0.0068 | |
|
NAB ‘Gold Rewards’ |
This program is only available for current customers. New NAB customers only have access to Flybuys, FrequentFlyer and Velocity rewards.
*No petrol voucher is available. Figure is taken from a $100 Harvey Norman Voucher. *No flights available as redeemable rewards. Figure is taken from a $100 Harvey World Travel voucher. |
15000 | 15000* | 12500* | 150 | 0.0070 | |
|
HSBC ‘Rewards Plus’ Point Capping: Yes* -
|
HSBC Australia’s reward program
*Caltex not available. The petrol card is a $100 BP voucher. *No flights available as redeemable rewards. Figure is taken from a $100 Travel Rebate voucher. *You must have a HSBC Savings Account in order to redeem the $100 deposit for 16500 reward points. |
15400 | 16000* | 16500* | 165* | 0.0063 | |
FlyBuys Point Capping: Yes - |
One of the Australia’s longest running, free and most popular rewards program.
*Myer/David Jones vouchers unavailable. Figure is taken from a $100 FlyBuys Gift Card. *No petrol vouchers available. Figure is taken from a $100 Bunnings gift card. *Return flight from Sydney to Melbourne. *No general cashback available. You may only redeem FlyBuy points for credit on your linked NAB credit card account. |
12500* | 13500* | 22500* | 125 | 0.0069 | |
|
Qantas ‘FrequentFlyer’ Point Capping: No - |
Without a doubt the largest flights reward program in Australia. Many credit cards allow you to directly link earning reward points with the FrequentFlyer program. After March 31st 2009, you may no longer transfer your points over to FF points. This does not apply to ‘direct earn’ cards.
*No direct petrol voucher available. Figure is taken from a $100 ‘WISH’ gift card, which allows you to redeem your card at Caltex, Woolworths, Dick Smith & more. |
13500 | 15700* | - | N/A | 0.0066 | |
|
St George ‘Instant Benefits’ |
No reward program with reward points. Instead, a range of instant discounts and vouchers for various retailers and outlets. You can view the Instant Benefits here. | N/A | N/A | N/A | N/A | N/A | |
|
Suncorp ‘Clear Options Rewards’ Point Capping: No |
Suncorp give you the flexibility of a rewards program optional with any of their credit cards, at an additional cost.
*No flights available. Figure is taken from $100 Suncorp Travel Voucher. *No direct cashback available. Figure is taken from $100 Suncorp credit voucher. |
18200 | 18385 | 18200* | 182* | 0.56 | |
|
Velocity ‘Rewards’ Point Capping: No - |
A credit cards reward program rising in popularity within Australia. Most commonly in conjunction with NAB Velocity cards. | 14800 | 14800 | - | N/A | 0.0066 | |
|
Westpac ‘Altitude’ Point Capping: No - |
A Cannex and Money Magazine award winning rewards program. Relatively high reward point cost, but low and waivered annual fees can compensate. | 16700 | 18200 | 12530 | 200 | 0.0058 | |
|
Woolworths ‘Everyday Money’ Point Capping: No - |
A unique reward program which gives out shopping vouchers for Woolworths and Bonus Partners depending on how many points you’ve accumulated.
Every 172 points you accumulate has an approximate value of $1 towards your next shopping card. You can earn 1-3 points depending on where you shop. See more about the Woolworths program here. |
N/A | N/A | N/A | N/A | 0.0060 |
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Want to compare Australian reward program credit cards directly? Click here for a comparison table of leading reward cards.
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The following are online reward catalogues for each credit card provider. If a bank is not listed above, it will most likely be due to the fact you need to be a member to view some rewards catalogues online.
- American Express ‘Membership Rewards’
- ANZ ‘Rewards’
- ANZ ‘Balance’
- BankWest ‘Business Rewards‘
- BankWest ‘More Rewards‘
- Bendigo Bank ‘Rewards‘
- Citibank ‘Rewards’
- Commonwealth ‘Awards’
- GE Money ‘GO Rewards‘
- Macquarie Bank ‘Platinum Rewards‘
- NAB ‘Gold‘
- HSBC ‘Rewards Plus‘
- FlyBuys
- Qantas ‘FrequentFlyer‘
- St George ‘Instant Benefits‘
- Suncorp ‘Clear Options Rewards‘
- Velocity
- Westpac ‘Altitude‘
- Woolworths ‘Everyday Money‘
-
The information here is current as of March 29th 2009. The information and statistics on this page are all derived from independent research, and should only be used as a rough and simple guideline to compare reward point currencies and programs.
Any reward program is subject to change, and while we will be diligent to keep up with alterations, we can not keep up as fast as the banks. If a link is broken or a feature out of date, we would appreciate your help by contacting us.
Related posts:
- Credit Card Reward Program Comparison Improved
- Credit Card Finder Releases Reward Program Comparison
- Guide to Reward Points in Reward Credit Cards
- Citibank Rewards Program FAQ
- Suncorp Velocity Rewards Program Credit Card
- Rewards Credit Card Comparing Table Updated
- Managing Reward Credit Card’s Point Caps and Expiration Dates




























February 6th, 2009 at 12:45 pm
[...] finished a reward point and program comparison table on Credit Card Finder, it can be viewed here: Reward Program Point Currency Comparison | Compare Australian Credit Cards and Offers Hopefully it can be of some good help to people. There isn’t any sort of comparison like this [...]