Find the best rewards card for your needs with Mozo's expert comparisons. We compare over 100 rewards credit cards from 40 issuers to help you maximise your rewards.
Read moreOur comparison table is designed to help you easily compare the latest rewards card offers and find the right card to match your spending habits and rewards preferences. Simply enter your typical monthly credit card spend below, and we’ll estimate how many rewards points you could earn each year with each of the cards in our table.
To ensure you choose the right rewards card for your needs, there are some important features you'll want to pay attention to. These include the type of rewards offered, the earn rate per dollar spent on the card and the annual fee. Keep an eye out also for any bonus points offers, as these can really kickstart your rewards.
Page last updated October 27, 2019
Promoted
Apply By 31 January 2020
Reward yourself with up to 80,000 bonus points! By spending $3,000 within 90 days of card approval. Plus with tonnes of travel redemption options, you'll be booking that family holiday before you know it.
Citi Rewards
$149 $49 in the first year
80,000
1 point up to $10,000/month
-
21.49% p.a.
0% p.a. for 15 months and then 22.24% p.a. (1.00% balance transfer fee)
22.24% p.a.
55
3.40%
$30.00
1 point per dollar on Visa, up to $10,000 per month
Never
80,000
19,500 points
299,000 points
22,300 points
• Concierge
• Travel Insurance
• Extended Warranty
• Purchase Protection
Read our Mozo Review to learn more about the Platinum - Bonus Points Offer
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Promoted
For a limited time score 120,000 bonus Qantas Points when you apply online by 6 November 2019, are approved and spend $4,500 on your new card within the first 3 months. This offer is available to new card members only. For eligibility, simply earn above $65,000 and have a good credit score. Credit Card Provider of the Year in the Mozo Experts Choice Awards 2018.^ T&C;’s apply
Qantas Frequent Flyer
$450
120,000
1.25 points uncapped
-
20.74% p.a.
0% p.a. for 12 months and then 20.74% p.a. (1.00% balance transfer fee)
44
3.00%
$30.00
1.25 points per dollar on Amex, uncapped
Never
120,000
8,000 points
110,400 points
18,040 points
• Travel Insurance
• Purchase Protection
• Account alerts by SMS
Read our Mozo Review to learn more about the Qantas Ultimate Card
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Promoted
Receive a $129 Virgin Australia gift voucher each year. 0.0% p.a. on purchases for up to 14 months. $64 annual fee in the first year ($129 after) .
Velocity Frequent Flyer
$129 $64 in the first year
No current offer
0.66 points up to $1,500/month, then
0.5 points uncapped
0% p.a. for 14 months
20.74% p.a.
0% p.a. for 6 months and then 20.99% p.a.
20.99% p.a.
44
3.30%
$30.00
0.66 points per dollar on Visa, up to $1,500 per month, then
0.5 points per dollar on Visa, uncapped
Never
No current offer
7,800 points
119,600 points
21,800 points
• Concierge
• Guaranteed Pricing
Read our Mozo Review to learn more about the Virgin Australia Velocity Flyer Card - Purchase Rate and Balance Transfer Offer
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Promoted
Score 100,000 Bonus Qantas Points and $200 cash back to your new card by spending $4,000 in the first 3 months. Eligibility criteria, T&Cs;, fees and charges apply. Winner Mozo Expert Choice Award 2018 - Premium Card Benefits.^
Qantas Frequent Flyer
$425
100,000
1 point up to $7,500/month, then
0.5 points uncapped
-
20.24% p.a.
No current offer
20.24% p.a.
55
3.00%
$20.00
1 point per dollar on Visa, up to $7,500 per month, then
0.5 points per dollar on Visa, uncapped
Never
100,000
8,000 points
110,400 points
18,040 points
• Concierge
• Extended Warranty
• Purchase Protection
• Guaranteed Pricing Scheme
• International Travel Insurance
Read our Mozo Review to learn more about the Frequent Flyer Black
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Promoted
Apply By 30 November 2019
0% per annum for 26 months on purchases and balance transfers. Low Annual Fee at $49 for the first year then $149 each year after. Complimentary International Travel Insurance.
Citi Rewards
$199 $0 in the first year
No current offer
1 point up to $10,000/month
-
21.49% p.a.
0% p.a. for 26 months and then 22.24% p.a. (1.50% balance transfer fee)
22.24% p.a.
55
3.40%
$30.00
1 point per dollar on Visa, up to $10,000 per month
Never
No current offer
19,500 points
299,000 points
22,300 points
• Concierge
• Travel Insurance
• Extended Warranty
• Purchase Protection
Read our Mozo Review to learn more about the Platinum - Balance Transfer Offer
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Promoted
Apply By 31 October 2019
Receive Up to 42,000 points (7,000 points each month for the first 6 months when $1k or more each month). With a low annual fee of $29 for the first year.
Qantas Frequent Flyer
$49 $29 in the first year
42,000
0.75 points up to $3,000/month, then
0.4 points uncapped
-
19.99% p.a.
0% p.a. for 12 months and then 21.99% p.a.
21.99% p.a.
55
3.00%
$30.00
0.75 points per dollar on Mastercard, up to $3,000 per month, then
0.4 points per dollar on Mastercard, uncapped
Never
42,000
8,000 points
110,400 points
18,040 points
• Concierge
• Travel Insurance
Read our Mozo Review to learn more about the Qantas Premier Everyday
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Promoted
Earn up to 1.75 Velocity Points. Have limited stress with the Velocity Escape with no annual fees and receive 0% p.a. on balance transfers for the first 12 months. Credit Card Provider of the Year in the Mozo Experts Choice Awards 2018.^ T&C;’s apply
Velocity Frequent Flyer
$0
No current offer
0.75 points uncapped
-
20.74% p.a.
0% p.a. for 12 months and then 20.74% p.a. (1.00% balance transfer fee)
55
3.00%
$30.00
0.75 points per dollar on Amex, uncapped
Never
No current offer
7,800 points
119,600 points
21,800 points
• Purchase Protection
• Account alerts by SMS
Read our Mozo Review to learn more about the Velocity Escape Card
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Promoted
Apply By 31 December 2019
0% p.a. on balance transfers for 22 months (Conditions apply). Also earn two HSBC rewards points per dollar on overseas purchases and one point per dollar for all other purchases.
Rewards Plus
$129 Refunded when you spend over $6,000 p.a
No current offer
1 point up to 10,000 points/month
0% p.a. for 12 months
19.99% p.a.
0% p.a. for 22 months and then 21.99% p.a.
21.99% p.a.
55
3.00%
$30.00
1 point per dollar on Visa, up to 10000 points per month
36 months
No current offer
15,600 points
239,200 points
24,000 points
• Concierge
• Travel Insurance
• Extended Warranty
• Purchase Protection
Read our Mozo Review to learn more about the Platinum Credit Card
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Promoted
NABs fastest way to earn Qantas Points. 120,000 bonus Qantas Points when you spend $3,000 on everyday purchases within 60 days of account opening and keep the card open for 12 months
Qantas Frequent Flyer
$395 $295 in the first year
120,000
1 point up to $5,000/month, then
0.5 points up to $20,000/month
-
19.99% p.a.
0% p.a. for 6 months and then 21.74% p.a. (2.00% balance transfer fee)
21.74% p.a.
44
3.00%
$15.00
1 point per dollar on Visa, up to $5,000 per month, then
0.5 points per dollar on Visa, up to $20,000 per month
Never
120,000
8,000 points
110,400 points
18,040 points
• Concierge
• Travel Insurance
• Extended Warranty
• Purchase Protection
• Guaranteed Pricing
• Domestic Hotel Burglary Insurance
Read our Mozo Review to learn more about the Qantas Rewards Signature Card
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Promoted
Enjoy exclusive privileges, including a rewards scheme that allows you to claim your points through retail rewards, like gift of shopping cards. Up to 55 days interest free for your Visa purchases
Heritage Credits
$125 $0 when you spend over $35,000 p.a
No current offer
0.002 points uncapped
-
17.49% p.a.
No current offer
19.49% p.a.
55
3.00%
$20.00
0.002 points per dollar on Visa, uncapped
36 months
No current offer
-
-
64 points
• Concierge
• Travel Insurance
• Extended Warranty
• Purchase Protection
• Guaranteed Pricing
Read our Mozo Review to learn more about the Platinum
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Promoted
Apply By 31 December 2019
0% per annum for 13 months on purchases and balance transfers. Low Annual Fee at $49 for the first year then $149 each year after. Complimentary International Travel Insurance.
Citi Rewards
$149 $49 in the first year
No current offer
1 point up to $10,000/month
0% p.a. for 13 months
21.49% p.a.
0% p.a. for 13 months and then 22.24% p.a. (1.00% balance transfer fee)
22.24% p.a.
55
3.40%
$30.00
1 point per dollar on Visa, up to $10,000 per month
Never
No current offer
19,500 points
299,000 points
22,300 points
• Concierge
• Travel Insurance
• Extended Warranty
• Purchase Protection
Read our Mozo Review to learn more about the Platinum - Purchase Rate Offer
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Promoted
A complimentary return economy domestic flight operated by Virgin Australia (T&Cs; apply) and two complimentary Single Entry Virgin Australia Domestic Lounge passes, each year until the card is cancelled. Winner Mozo Expert Choice Award 2018 - Travel Money.
ANZ Rewards
$225
75,000
1.5 points up to $2,000/month, then
0.5 points uncapped
-
20.24% p.a.
No current offer
20.24% p.a.
55
0%
$20.00
1.5 points per dollar on Visa, up to $2,000 per month, then
0.5 points per dollar on Visa, uncapped
36 months
75,000
15,600 points
239,200 points
22,225 points
• Concierge
• Extended Warranty
• Purchase Protection
• International Travel Insurance
• Guaranteed Pricing Scheme
Read our Mozo Review to learn more about the Rewards Travel Adventures Card
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Want more? Compare all 125 rewards credit cards in the Mozo comparison engine.
Search now^See information about the Mozo Experts Choice Awards for Rewards Credit Cards
Views, news, tips and guides to help find the best rewards card for you.
As you spend on a rewards credit card, you’ll earn points, which can be redeemed for rewards like flights, travel packages, cashback, gift cards, retail products and more. After all, why not be rewarded for your spending?
Different rewards cards offer different types of rewards - some are focussed on travel and offer complimentary flights, airport lounge access or even travel credits to be spent on your next getaway. Others are more down to earth, and offer perks like cashback on your grocery shop, or points that you can cash in for a gift card, or that new toaster you’ve been eyeing off.
No matter what kind of credit card reward you’re after, there are a few important steps to getting there, including choosing the right rewards card, understanding how to earn points, knowing the best value rewards point redemption options and being aware of the pitfalls of a rewards card. That’s where we come in.
A rewards credit card can open the door to some great perks like travel, retail therapy and other premium perks. But finding the right rewards credit card is key to getting the best value - we’re here to help you compare your options.
Rewards credit cards work just like any other credit card - you spend using the card, either in-store on online, then pay off your purchases later on when the bill comes - except that you’ll earn points on your shopping.
What happens to those points and what you can redeem them on depends on which card you choose and which rewards program its attached to. So it’s also important to understand the different types of rewards credit cards and what they offer.
There are heaps of different types of rewards credit cards, and picking the best one can be tricky. The main categories rewards fall into are:
If you’re still not sure how to pick the best rewards card for you, why not start with our Mozo Experts Choice Awards page. Each year, the Mozo money experts review all rewards credit cards in our database and award those cards that offer the best value to customers based on their spending habits.
It is a common assumption with rewards credit cards that the more money you spend, the better the rewards. This is only partly true. To get the most value from a rewards program you will need to choose a card that delivers you value for your spending habits AND offers you the greatest benefit for the rewards you are interested in. What's the point in having a card with the highest-earning rate for Qantas Frequent Flyer miles when you don't travel often?
Each rewards program is a little bit different, because credit card providers have different partners and agreements, and they focus on different things - for example, some are all about travel perks, while others have a tonne of retail options to choose from.
Here’s a quick breakdown of some of the big rewards programs you’ll come across:
ANZ Rewards Program. Big bank ANZ offers rewards spanning travel, entertainment, retail products and gift vouchers. Points can be redeemed by logging into your ANZ Rewards account for retail shopping, or by being transferred to the Velocity, Air New Zealand or KrisFlyer programs.
NAB Rewards Program. With NAB, you can get your hands on all the classic rewards like flights, retail buys, cash back and gift cards, along with event tickets and experiences like shark swimming! You can redeem points through your NAB Rewards account, or directly through Webjet if you’re after travel rewards.
Westpac Altitude Rewards Program. Along with options like cashback, travel perks and Pay with points, Westpac gives you the opportunity to use your points for a discount or rebate on your credit card or home loan annual fee. You can redeem via your Westpac Altitude account, which includes the Altitude Travel online booking platform.
CommBank Awards Program. From booking your next holiday through Flight Centre, to shopping with points at Myer, there’s plenty of options with the CommBank Awards program. You can redeem points via NetBank or the Mozo Experts Choice Award winning CommBank app.
American Express Membership Rewards Program. Amex is well-known for all the rewards and perks on offer with its Membership Rewards Program. From shopping, entertainment and tonnes of once-in-a-lifetime experiences, there’s plenty of opportunities to use your Amex points, either through the Amex website, or in-store.
Citi Rewards Program. There are a tonne of ways to use your rewards points with Citi, from merchandise, to eVouchers, charitable donations to cashing them in for airline miles. This program also gives you access to CitiBank Dining Program and Citi World Privileges which will snag you perks like exclusive event access and hotel discounts around the world.
HSBC Rewards Plus Program. Whether you’re after some retail therapy or flights and accommodation for your next big trip, there are plenty of ways the HSBC Rewards Plus Programme can help. You can redeem your points through your HSBC online banking, or over the phone.
Bankwest More Rewards Program.Whale watching, movie tickets, three course dinners - there are plenty of awesome experiences to use your Bankwest More Rewards points on, plus all the usual options of retail products, gift cards or travel perks. You can redeem points through the Bankwest More Rewards website, or directly through Webjet for travel options.
St.George Amplify Rewards Program.You can choose a St.George credit card that will earn points you can redeem through the Amplify Rewards program or a card that funnels your points directly in your Qantas Frequent Flyer account. If you’re picking the Amplify Rewards Program, you’ll have gift cards, retail buys and entertainment options galore!
Bank of Melbourne Amplify Rewards Program.Manage your points through your Amplify Rewards account via the Bank of Melbourne website to cash in on rewards including cashback, travel perks like flights and accessories, electronics or gift cards.
Too much information to wade through? No worries - we can take a lot of the work out of it for you. Mozo's Rewards Revealer tool is the only calculator in the market that will give you a ranking of rewards cards based on your spending level and rewards you're interested in. A quick search with the tool will reveal just how different the rankings are for someone who spends $18,000 a year on their card and someone who spends over $60,000 annually.
But before you start reviewing cards for flight or shopping offers, first ask yourself: will I pay my credit card balance off in full each month? If you answered no, a rewards card may not be for you. Rewards credit cards have higher interest rates and annual fees than standard credit cards so if you have an ongoing balance, the amount of money you will pay in interest and fees will almost certainly outweigh the value you will get from any rewards. Instead, compare low-interest cards and choose a piece of plastic that fits your style.
It’s not all about choosing the right rewards program! Rewards cards also offer other features, perks and bonuses, like:
Other features you may get with your card:
On the flip side of all those perks and freebies, rewards cards can also come with some killer fees. It’s important to be aware of them, so you can make sure they don’t eat into your budget. Common fees include:
There are two main ways to earn rewards points with your plastic:
In general, credit card rewards are offered as an extra incentive for you to spend using your credit card - it’s important to avoid overspending, but as long as you were already going to spend the money anyway, scoring some rewards while you’re at it is not a bad deal.
There are heaps of different redemption options for when it comes time to use your rewards points, from travel to gift cards, cashback to retail buys. Exactly what redemption options you have will depend on which rewards program you pick, but most programs have options including:
So how exactly do you find the best rewards credit card for you, when there are so many options out there? When comparing rewards cards, it’s vital to make sure you’re comparing them on an even footing, which can be tricky when each one has different perks and bonuses available.
Some of the things you need to consider include:
But all that is easier said than compared. That’s where Mozo comes in. The table at the top of this page gives you a quick snapshot comparison of some rewards credit cards, including some of the key features. Then, if you want to compare even more options, you can compare our whole database of rewards credit cards and narrow your search by the type of rewards you’re after and how much you usually spend. Piece of cake!
That depends on how you use your plastic. A rewards card generally has a higher annual fee and interest rate than other credit cards, so you have to make sure that you will get enough value out of the rewards and perks on offer to justify those extra costs.
If you’re a big spender who loves to cash in on freebies and will use all the extras offered by a rewards card, then yes, the annual fee and higher interest rate could be worth it. On the other hand, if you only occasionally use your plastic and wouldn’t get much value out of freebies and points, then a rewards credit card might be a drain on your budget. You might be better off with a low rate credit card instead.
If you check the fine print, you’ll often find that you only earn rewards points on “eligible transactions” or “eligible spends”. But what does that mean? And the eligible transaction is usually any regular purchase, which excludes things like:
No, you will not earn any rewards points on a balance transfer. That means that if you’re applying for a balance transfer card, you won’t earn points on the balance you’re moving over, as if it were a spend on the new card.
Ideally, you shouldn’t really be doing any new spending on a balance transfer card either, but you will save on interest if the card has a low balance transfer rate.
Last but certainly not least, here are some quick tips to put you on the right path when it comes to choosing, earning, redeeming and using a rewards card and rewards points.
Check out our tables to compare Rewards Credit Cards and get the right deal for you!
Written by: Kelly Emmerton, Mozo Money Editor