Rewards cards offer you a great opportunity to get something back when using your credit card. Depending on the card you choose, you will receive a certain amount of reward points when you make certain purchases on your credit card. Whether you want points to spend in your favourite department store or points to spend on your next flight, there is a wide range of cards to choose from. We've put together a list of the best rewards cards available so you can decide which is best for you.
|Rating||Product Name||Purchases||Balance Transfer||Annual Fee|
|20.24%p.a||0%9 months||$89||Apply NowMore Info+ Shortlist|
|The CUA Platinum offers a range of complimentary insurance covers and no interest on balance transfers for the first 9 months with half annual fee first year.|
|20.99%p.a.||2.90%6 months||$129||Apply NowMore Info+ Shortlist|
|15,000 bonus flyer points, 2.9% on balance transfers for 6 months with buy 1 get 1 complimentary seat on Virgin flights up to 4 times per year.|
|19.99%19.99||0%8 months||$129||Apply NowMore Info+ Shortlist|
|The HSBC Platinum Credit Card offers 0% on balance transfers for 8 months alongside 25,000 reward points with 1 reward point per $1 spent + free additional card holders.|
|19.49%p.a.||0%6 months||$140||Apply NowMore Info+ Shortlist|
|Receive 8,000 bonus points, earn 1 Qantas Frequent Flyer point for ever $1 spent and only pay 0% on balance transfers for 6 months.|
|20.74%p.a.||n/a||$195||Apply NowMore Info+ Shortlist|
|10,000 bonus points offer combined with up to 3 points per $1 spent and a free return domestic flight with Virgin Australia each year.|
|20.74%p.a.||n/a||$0||Apply NowMore Info+ Shortlist|
|Receive a bonus 7,500 Qantas Frequent Flyer Points and earn 1 point for every $1 spent with no points cap.|
|18.74%p.a.||0.99%6 months||$0||Apply NowMore Info+ Shortlist|
|BankSA Amplify offers 0.99% p.a. on balance transfers for the first 6 months, $0 annual fee for the first year with a 1 Amplify point for every $1 spent.|
|19.84%p.a.||n/a||$49||Apply NowMore Info+ Shortlist|
|The Woolworths Everyday Money credit card offers a bonus 10,000 rewards points plus you can earn up to 3 points for every $1 spent.|
|19.49%p.a.||4.99%6 months||$65||Apply NowMore Info+ Shortlist|
|The New NAB FlyBuys Rewards credit card offers 10,000 bonus FlyBuys Rewards with 4.99% p.a. on balance transfers for the first 6 months.|
|19.99%p.a.||4.99%6 months||$65||Apply NowMore Info+ Shortlist|
|The NAB Velocity offers 7,500 bonus velocity points on first purchase, 4.99% p.a. on balance transfers for the first 6 months with a low annual fee of $65.|
Rewards cards can offer any number of different types of rewards, from flights and travel, to merchandise, vouchers and cash back. Most major reward programs have a huge amount of reward options. If you spend frequently on your credit card, then this type of card could be a great choice for you.
With a rewards card, you will earn points for the purchases you make on the card. Different purchases at different retailers will earn different amounts of points, and each rewards card will have different specifications.
One of the most important things to think about when choosing a rewards card is where you can earn points. To make the most of this type of card it is best to choose a card that rewards you for the kind of spending you do most. If the card only offers points for purchases you don't usually make, (i.e. petrol) then it will be difficult for you to earn points.
The next thing to think about is what rewards you will receive. Choose a card that offers rewards that you want and need. Make sure that the rewards are accessible as well. Checking your points total, seeing what rewards are on offer, and claiming rewards should be easy to do, like using an online store.
Take a look at some of the factors you should be comparing when choosing a rewards card.
Choose a card that gives you the reward options that you want.
How Points are Earned:
Try to choose a card that rewards you for your usual spending habits or you will find it difficult to earn points.
Point to Dollar Value:
Check how many points you will earn per dollar, as well as how much you will get back when the points are redeemed.
Points Capping and Expiry:
Try to choose a card with no points capping if you want to earn as many points as possible. It's best to choose a card with no points expiry, as this means your hard-earned points will not disappear if you don't use them.
Introductory Bonus Points:
Many rewards cards offer bonus points for signing up. Check closely, as there may be a catch. You may have to spend a certain amount within a given time period, or you may have to spend with a particular retailer in order to be eligible for the points.
Gold and Platinum Options:
Many rewards cards are available in Gold and Platinum options. These cards offer more features, such as complimentary insurances, a higher potential for points earning, and concierge services. You will need a high income and a good credit history. You may also find that annual fees on these cards are higher, so make sure you need the extras that are on offer.