Travel Rewards Credit Cards

Table of Contents: Guide to Travel Rewards Credit Cards

• Compare travel rewards credit cards
• Which is the best travel rewards credit card?
• How do travel rewards credit cards work?
• How to compare travel rewards credit cards
• How to use a retail rewards credit card

Best Travel Rewards Credit Card*

The ANZ Frequent Flyer Visa was recently re-launched by ANZ. Until 31st October 2010, you can earn a bonus 16,000 Qantas Frequent Flyer points. Benefit from uncapped Qantas Frequent Flyer points earning, and the ability to maximise your earnings potential with both an AMEX card and a Visa for greater acceptance.

• $95 annual fee
• 19.49% p.a. on purchases
• Cash Advance Rate of 20.74%
• Earn 1 point per $1 spent on your American Express card
• Earn 1 point per $2 spent on your Visa card
• ANZ Falcon providing advanced monitoring of suspicious credit card transactions, and helping protect you from credit card fraud.

Click here to read the ANZ Frequent Flyer - 16,000 Bonus Points Option terms and conditions

Travel Rewards Credit Card Comparison

Credit Card	Card Details	Interest Rate (p.a.)	Cash Advance Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Interest free days (up to)
ANZ Frequent Flyer - 16,000 Bonus Points Option	Earn Qantas Frequent Flyer points from everyday purchases. Apply by 31st October 2010 and receive 16,000 bonus Qantas Frequent Flyer Points.	19.49%	20.74%		$95	44
ANZ Frequent Flyer - Balance Transfer Option	Earn Qantas Frequent Flyer points from everyday purchases with an earn rate of up to 1 point per $1 spent.	19.49%	20.74%	2.9% for 12 months	$95	44
Westpac Earth Gold Card	Earn up to 3 Qantas Frequent Flyer points for every $1 you spend. Enjoy a range of complimentary insurances.	19.64%	21.14%	0.99% for 6 months	$125	45
Citibank Emirates Platinum Card	Enjoy exclusive complimentary lounge access in Australia and Dubai for you and a guest. Special travel insurance included from Emirates.	20.74%	20.74%	1.9% for 12 months	$229	55
American Express Qantas Premium Card	Earn up to 7,500 FF points when you make your first purchase on your Qantas Premium card.	20.49%			$249
Westpac Earth Cards	Earn unlimited Qantas Frequent Flyer points plus take advantage of 0.99% p.a for up to 6 months on balance transfers	19.64%	21.14%	0.99% for 6 months	$75	45
Westpac Earth Gold Card	Enjoy complimentary overseas travel, purchase security and extended warranty insurance cover plus unlimited Qantas Frequent Flyer points earning.	19.64%	21.14%	0.99% for 6 months	$125	45
Westpac Earth Platinum Cards	Take advantage of a 0.99% p.a for the first 6 months on balance transfers plus a high Qantas Frequent Flyer earn rate of up to 1.5 points per $1 spend.	19.64%	21.14%	0.99% for 6 months	$250	45
HSBC Gold Visa Card	A generous rewards program, unique interest free period opportunities and complimentary travel insurance.	19.50%	21.99%	0% for 6 months	$89	55
ANZ Frequent Flyer Gold American Express/Visa	Earn 1.25 Frequent Flyer points for every $1 spent on your American Express card, and 1 point for every $2 spent on your Visa. Uncapped Frequent Flyer earnings	19.49%	20.74%		$195	55
ANZ Frequent Flyer Platinum American Express/Visa	Maximise your Qantas Frequent Flyer points earning with 1.5 points earnt per $1 spend. Also receive exclusive rewards and benefits such as Visa Platinum Privileges.	19.49%	20.74%		$295.00	55
Commonwealth Bank Gold Awards Credit Card	Earn 2 Awards points for every $1 spent with a Commonwealth Bank American Express® Card and enjoy acceptance at 29 million locations with MasterCard®	20.49%	21.49%	5.99% for 5 months	$144.00	55
Commonwealth Bank Platinum Awards Credit Card	Earn 3 Awards points for every $1 spent with a Commonwealth Bank American Express® Card	20.49%	21.49%	5.99% for 5 months	$280.00	55
Westpac Altitude Card	Unlimited Altitude points earning plus 5000 bonus points when you make your firt purchase.	19.64%	21.24%	1.99% for 9 months	$100	45
Westpac Altitude Gold Cards	Enjoy complimentary overseas, purchase security and extended warranty insurance cover plus all the benefits of the Westpac Altitude Card.	19.64%	21.24%	1.99% for 9 months	$150	45
Westpac Altitude Platinum Cards	Enjoy a high earn rate of Altitude reward points plus a range of complimentary insurance cover	19.64%	21.24%	1.99% for 9 months	$295	45
NAB Qantas Gold Card	Comes with a Visa and American Express card, both linked to one account and annual fee. No point expiry.	19.99%	19.99%	4.99% for 6 months	$145.50	44
NAB Qantas Platinum Card	Comes with a Visa and American Express card, both linked to one account and annual fee. No point expiry. No points cap.	19.99%	19.99%	6.99% for 6 months	$290	44
NAB Velocity Gold Card	Gain velocity reward points and redeem for rewards.	19.99%	19.99%	4.99% for 6 months	$150	44
Citibank Platinum Card	1 Citibank Reward Point for every $1 spent on your card. You can convert your Platinum reward points for Frequent Flyer points at a 1:1 ratio. Also a popular and prestigious Platinum card offer.	20.74%	21.24%	3.9% for life	$125 (First Year, Save $125)	55
Citibank Gold Card	Complimentary travel insurance provided with the Citibank Gold.	20.74%	21.24%	1.9% for 12 months	$149	55
ANZ Gold Visa Card	High levels of purchase security and insurance cover. Includes comprehensive travel insurance.	18.99%	20.74%	7.99% for 6 months	$87	55
Citibank Clear Platinum Visa Card	A low rate and fee for a Platinum card. 25% off a range of ‘Citibank World Privileges’, inc. shopping, dining and travel. Visa Platinum Privileges.	11.49%	21.24%	0% for 7 months	$99	55
St.George Amplify	The St.George Amplify is the latest rewards credit card from St.George, giving you the opportunity to earn double Amplify points or double Qantas Frequent Flyer points on your purchases until June 30 2010	18.49%	20.49%	0.99% for 6 months	$79	55

How Do Travel Rewards Credit Cards Work?

Travel rewards credit cards are very similar to air miles credit cards and frequent flyer credit cards, and may in some cases be one and the same. It will depend on what rewards are being offered for your points. The title "air miles credit card" may put some people off making an application if they have a fear of flying, even though the rewards may well include all manner of travel rewards, such as cruises, hotel accommodation, car hire and days out. Terming the credit card a "travel rewards credit card" instead removes the risk of putting anyone off making an application.

How to earn points with a travel rewards credit card:

Spend money, and shift regular spending

You earn points on a travel rewards credit card as you would accumulate points on any rewards credit card - by spending money on it. You don't have to be making special travel-related purchases to qualify for points; anything will count. You could put your weekly groceries or fuel payments on the card, or even add your utility and mobile phone bills. Dollars spent = points earned. Moving your regular expenses over to your travel rewards credit card could add many hundreds of dollars to your balance, and it will all count. However, you must be careful if you do this. You do not want to give yourself a false sense of security, which leaving cash in your bank account may do. The cash that would have paid for these bills will still need to pay for them, only in one fell swoop to clear you credit card debt. If you fail to clear your debt, you will be charged interest, and that will far outweigh any benefits derived from your points.

Loyalty purchases made with credit card partners

It may be the case that you can accumulate bonus points when you spend with the travel companies that are partnered with the credit card. It therefore pays to know exactly which these partners are, so you can take full advantage of any spending you are about to do in a related area.

Introductory bonus points

Look out for introductory offers on your travel rewards credit card, where more points per dollar are awarded for perhaps the first one to three months. Instead of earning the regular one point per dollar, you could receive double or treble that. Or you may receive a large lump sum of points just by making an initial purchase. Bonus points are certainly worth claiming as they can often be enough for you to claim your first reward. Beyond this time, also keep your eye out for any literature in the mail, or offers on the credit card's website, that alert you to the opportunity to earn bonus points or on-the-spot discounts with affiliated retailers or service providers.

Be aware that points will not be awarded for any cash transactions made on the card, nor any balance transfers made to it. They are only gained when you spend on purchases or services.

What are my points worth?

That is the 64,000 dollar question. Points earned per dollar will vary according to the provider and the prestige of the credit card, but one point per dollar spent would be pretty average. You will need to research the travel rewards credit cards you like the look of to know for sure. It will be in there somewhere, unless it is an industry-leading redemption ratio, in which case it will be fairly obviously advertised. Don't be fooled. The real issue is not how many points per dollar you will earn, but rather how much dollar value is then assigned to your points upon redemption.

How can I check how many points I have?

This will normally be listed on your credit card statement, but if you want to keep a more regular check on things, you can go to the card's website and check your personal account. You will need to be registered for this, but that only takes a few minutes to set up.

What sort of goodies can I get?

This will again depend on your credit card provider, but the types of rewards you can normally expect with a travel rewards credit card are ... wait for it ... mostly travel-related. These will include flights, brochure holidays, hotel accommodation, car rental, days out, and more. You may also find offers outside the travel arena. This is another area for you to research beyond the headlines so you can be sure the card suits your purposes and the kind of rewards you are after.

How do I redeem my points?

Your credit card provider will have a website where you can check how many points you have accumulated on your travel rewards credit card. It will also show you what rewards are available and how many points you will need to claim them. If you are happy that you want to go ahead and make a redemption, then you will be able to do so via the site or over the phone with a customer service representative. You should be able to claim a reward even if your points fall short by making up the remainder in cash.

How To Compare Travel Rewards Credit Cards

The key point when you compare travel rewards credit cards is to realise that you should also be looking to compare these cards with air miles credit cards and frequent flyer credit cards, because they may well possess practically all the same benefits. Equally, you could take a look at regular credits cards, because many also offer air miles and travel rewards.

Travel rewards credit cards are good for:

Regular flyers

A travel rewards credit card will have as part of its rewards the option to exchange points for flights. This means they are great for anyone who flies frequently, whether for personal reasons or as a self-employed businessperson who has to pay for their own tickets. If you are already a member of a frequent flyer program, adding points from a travel rewards credit card will be a sensible move. Most credit cards of this type give a choice of partner airlines.

Holidaymakers and travellers

Anyone who likes to get away for a few days or weeks on a regular basis will benefit from this type of card because they will be able to offset part of the cost by supplementing with their rewards.

Credit card users

If you use a credit card for your spending, then you are already doing the hard part, namely spending. Therefore you may as well get something back for your outlay, and travel rewards should offer something for everyone.

Travel rewards credit cards may not suit:

Stay-at-home types

If you consider that foreign turf begins where your driveway ends, then you may want to consider a more regular rewards credit card.

Reckless souls

If you are prone to spending on your credit card without good reason, then giving yourself a good reason may not be a good idea.

Poor credit cases

A good credit rating is required to apply for any rewards credit card. Making an application that will fail due to a poor rating will only serve to lower your credit score even further.

What should I look for when I compare travel rewards credit cards?

This is a very important question when you compare travel rewards credit cards. You need to know how your spending will be rewarded, and what exactly are the main determining factors that make the card one you should grab, or one you should avoid.

The partners involved

You need to know which airlines, companies or services are partnered with the credit card rewards program. They must offer rewards you already use, or could be reasonably excited about using.

The variety of rewards

How limited are the rewards on offer? Travel-related rewards should include flights, holidays, hotel stays, cruises, car hire, airport parking, etc. But are there other rewards outside the travel sphere? This may be important if you suddenly find yourself in a position where you are unable to travel for some reason.

Air miles & frequent flyer schemes

Are the airlines involved ones that fly routes of interest to you? Does the credit card require you to join an airline's frequent flyer program. If so, is it free?

Bonus points and introductory incentives

Does the card offer bonus points for the first one to three months of card ownership? These will often allow you to earn double or treble the average one point per dollar. This could allow a reward to be claimed pretty quickly.

How many points per dollar?

This is very important and you will normally find an ongoing exchange of one to one. However, you must investigate the value of your points when it comes to redemption. Different programs assign different values to their points. Check out how this works. These are the details that can make or break a deal.

Extra benefits

This may include free travel insurance. You may have to pay a fee for an air miles program that offers this, or it may well come standard with gold or platinum cards.

Program fees

Annual fees for rewards schemes can make the difference between a program earning you or costing you. If your travel rewards credit card involves an annual fee for the rewards program, on top of annual card fee, then you must do some calculations to make sure this will not outweigh any benefits derived from it. The fees involved in a more prestigious platinum credit card may be justified by the associated perks, but this will depend very much on the level and type of use.

Don't forget the usual suspects

Don't forget when you compare travel rewards credit cards to check out the APR, the annual credit card fee, the amount of interest-free days, and any charges that could be applied if you break the rules. It is still a credit card, after all, and these issues are very important.

Don't forget:

Don't overspend for any reason, especially not to earn extra points. If you spend so much on your card that you are unable to pay off your balance every month, then you will attract interest charges that may well negate the value of the points you earn.

Points are only awarded on purchases and services; they are not awarded for cash transactions such as ATM withdrawals or buying foreign currency or traveler's cheques.

You cannot properly compare travel rewards credit cards if you do not read the Terms & Conditions for each of the cards of interest to you. This must be done before signing on the dotted line so you are aware what you are getting into, and what you will get out of it.

How To Use A Travel Rewards Credit Card

Travel rewards credit cards earn points when you spend on them. That does not mean with should go crazy and buy items you don't need, but as you probably chose the card for the purpose of points building, you ought really to start racking some up.

Increase your points by using a travel rewards credit card smartly:

These are a few areas you might consider to increase the points on your card without starting to spend for the hell of it:

Monthly expenses

The more you spend on your travel rewards credit card, the more points you will accumulate. Making purchases and paying for services will all count. That means you could certainly look to shift some of your regular spending to your travel rewards credit card to bump up the monthly balance. This may include groceries, fuel for your car, utility bills, mobile phone bills. The caveat here is that you are not left with a debt you cannot clear. Interest charges will destroy the value of the points you have earned. If you use a credit card where you once used cash or debit card, you must still set aside that money to cover your credit card bill at the end of the month.

Be loyal

Provided it suits you, use the credit card's partner companies to earn extra points. Switch your allegiance to any affiliated hotel chains, travel operators, or car rental companies. Using your credit card at these places may earn you extra loyalty points.

"Honeymoon" offers

Make use of any introductory offers on your travel rewards credit card before they expire, which may be in one to three months. These may enable you to build up a mass of bonus points very quickly, and even earn a reward straight away.

Additional cards

You might think of adding another cardholder to your account so that their spending will also count towards your points. Just choose that person carefully. Your estranged ex-spouse might not work too well.

Be a martyr

Pay for group or family purchases, such as holidays, with your travel rewards credit card to build up points. Look a bit hard-done-by when you do it so they don't know what you're up to, then get the cash back from them.

Spend wisely on your card

Stay within your budget

Keep the "monthly expenses" advice at the top in mind for all your purchases, so that you can always pay off your credit card in full every month. Unavoidable expenses are one thing, but willfully spending beyond your means for any reason is poor practice. If you are doing this to build points on your travel rewards credit card, then this is a false economy because the interest charges you incur when you leave a balance on your card can easily wipe out the value of any points earned. Not only that, it will also void your interest-free days for the following month.

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Editor's Choice: Our Top Credit Cards




Credit Card	Card Details	Interest Rate (p.a.)	Cash Advance Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Interest free days (up to)
HSBC Credit Card	Editor's Choice: 0% for 6 months Balance Transfer & No Annual Fee Featuring a $0 annual fee for life, and 0% p.a. balance transfer for 6 months, the HSBC Credit Card was voted the Best Transactor Credit Card for 2010.	16.99%	20.75%	0% for 6 months	$0	55
Suncorp Clear Options Standard Visa Card	A great 12 month balance transfer offer, combined with a low annual fee and a good interest rate on purchases.	12.24%	17.99%	1.9% for 12 months	$39	0