Best frequent flyer and rewards credit cards April 2020

Posted: 8 April 2020 9:51 am
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Reward yourself with a competitive earn rate and up to 100,000 bonus points on one of these credit cards.

With everyone spending so much time at home right now, it could be an opportunity to look at our accounts to see what's working and what could be better. So, if you want a new credit card that rewards you for your spending, we have rounded up cards with some of the most rewarding bonus points offers currently available. This includes cards offering Qantas and Velocity frequent flyer points that you could save up for future holidays, as well as offers from Westpac and Coles that give you more flexibility.

How did we pick this month's line-up?

We selected this month's line-up based on the cards with the biggest bonus points and valuable everyday reward features offered through Finder in April 2020. We also considered and included cards with valuable bonus points offers currently on the market, but not offered through Finder.

We've narrowed down our top picks by cards that offer at least 50,000 bonus points in the first 12 months, or a combination of a high earn rate and competitive annual fee. The round-up only includes cards that collect 0.5 points or more per $1 spent.

There's no one best credit card for every type of points chaser, so you should compare your options before you commit to a new card.

Best credit cards for Qantas Points

Qantas American Express Ultimate

  • Bonus points. 100,000 Qantas Points
  • Earn rate. Up to 2.25 Qantas Points per $1 spent
  • Annual fee. $450
  • Purchase rate. 20.74% p.a.

This premium Amex card offers 100,000 bonus Qantas Points when you apply online by 14 April 2020 and spend $3,000 in the first 3 months from approval – so you'll have to be quick to snap it up.

If you want to dream up a luxurious domestic or overseas trip, these points would give you enough for one return business class flight from Sydney to Auckland (83,000 points plus fees and taxes) or two return economy class flights from Melbourne to Bali (81,200 points plus fees and taxes). If you're hanging out for some rewards now, you could also use these points to get $500 worth of Woolworths digital gift cards (95,000 points for two $250 cards) via the Qantas Store.

The Qantas American Express Ultimate also offers 1.25 points per $1 spent on eligible everyday spending, 0.5 points per $1 spent with government bodies in Australia (including the Australian Taxation Office) and 1 additional Qantas Point per $1 for eligible Qantas spending.

This card also gives you access to free wine delivery through the complimentary Qantas Wine Premium membership (normally $99), along with travel perks including a $450 Qantas travel credit each year that could offset the cost of the $450 annual fee.

Runner up: Qantas Premier Platinum

The Qantas Premier Platinum offers up to 100,000 bonus Qantas Points with a couple of different requirements. You earn 80,000 bonus points when you apply by 28 May 2020 and spend $5,000 in the first 90 days from account approval. You'll collect the remaining 20,000 bonus points after you pay the second-year annual fee – which means you need to keep the account open and in good standing for at least 12 months to get all the bonus points on offer.

This card earns 1 point per $1 spent on your eligible purchases in Australia, up to $10,000 per statement period (0.5 points per $1 after that). You also get a higher earn rate of 1.5 points per $1 spent overseas and 1 bonus point per $1 spent on Qantas flights, Qantas Club membership and purchases through the Qantas Store.

The Qantas Premier Platinum also offers 0% p.a. interest on balance transfers for the first 18 months when you apply by 28 May 2020. There is no balance transfer fee, but do note that when the introductory period ends, any balance remaining from the transfer will accrue interest at the 21.99% p.a. cash advance rate.

While this card includes a range of travel perks, including lounge invitations and discounted companion flights, you'll need to weigh the value of them against its $299 annual fee to decide if it's worth it for you.

Best credit card for Velocity Points

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American Express Velocity Platinum card

  • Bonus points. 50,000 Velocity Points
  • Earn rate. Up to 2.25 Velocity Points per $1 spent
  • Annual fee. $375
  • Purchase rate. 20.74% p.a.

This platinum Velocity frequent flyer credit card offers 50,000 bonus points when you apply and spend $3,000 on eligible purchases in the first 3 months. That's enough for a return business class flight between Brisbane and Melbourne (47,000 points plus fees and taxes) or $250 worth of iTunes gift cards from the Velocity Rewards Store (9,900 points for each $50 iTunes gift card).

If you want to keep your Velocity account active to avoid points expiring, the American Express Velocity Platinum will help by earning 1.25 points per $1 spent on your everyday purchases – except for spending with government bodies, where you earn 0.5 points per $1 spent. You also collect an additional 1 Velocity Point per $1 spent on selected Virgin Australia purchases.

The majority of the perks on this card are travel-based, including a complimentary domestic return flight with Virgin Australia each year, lounge access, travel insurance and 100 Velocity Status credits if you spend $50,000 during your card member year. It also offers complimentary refund protection and purchase protection for eligible items you buy with the card.

Given the American Express Velocity Platinum has an annual fee of $375, you will need to take advantage of the card's perks to help justify this cost.

Runner up: Virgin Australia Velocity Flyer – bonus points offer

This Velocity Frequent Flyer credit card offers up to 70,000 bonus points when you apply by 30 April 2020, with several requirements to earn a portion of these points. In the first 3 months, you'll collect 20,000 bonus points each month when you spend $1,500 on eligible purchases in that month – up to a total of 60,000 bonus points and $4,500 worth of spending. You'll then collect the remaining 10,000 bonus points when you pay your annual fee on the first account anniversary.

You could use these points for two return business class flights between Sydney and Melbourne (62,000 points plus fees and taxes) or save up for a business class flight from Sydney to Los Angeles (one-way from 95,500 points).

This card also earns 0.66 points per $1 spent on eligible purchases up to $1,500 per statement period, and 0.5 points per $1 spent for the remainder of that statement period.

It also offers an introductory balance transfer rate of 0% p.a. for 12 months, with a one-time balance transfer fee of 1.5% and accepts transfers from Australian credit cards, charge cards, lines of credit and personal loans that are not issued by Virgin Money or Citi. Helping to keep costs down is a reduced first-year annual fee of $64, which reverts to $129 p.a. after that.

Best credit cards for other rewards

Coles Rewards Mastercard

  • Bonus points. None
  • Earn rate. 2 flybuys points per $1
  • Annual fee. $99
  • Purchase rate. 19.99% p.a.

While there are no introductory bonus points offered on the Coles Rewards Mastercard, it offers competitive everyday benefits and rewards that could be particularly appealing during the coronavirus pandemic.

This card is linked to the flybuys rewards program and earns 2 points per $1 spent on your everyday purchases – including groceries, petrol and dining. Transactions that are not eligible for points include cash advances, balance transfers and account fees. You also collect 1 point per $1 when you scan your flybuys barcode at eligible retailers including Coles, Kmart, Target and Liquorland.

As well as rewards, this Coles credit card offers 0% p.a. on balance transfers for 18 months with a 1.5% balance transfer fee when you apply by 30 April 2020. Any balance transfer debt remaining at the end of the introductory period will attract the card's cash advance rate, currently 19.99% p.a. Note that you won't be eligible for any interest-free days on purchases when you have a balance transfer, so it is ideal to prioritise debt repayments over any reward-earning goals.

The Coles Rewards Mastercard charges an annual fee of $99.

Runner up: Westpac Altitude Platinum

The Westpac Altitude Platinum offers a generous 80,000 bonus points when you apply by 5 August 2020 and spend $3,000 on purchases in the first 90 days from approval. That's enough for $340 worth of Woolworths e-gift cards (79,900 points in total for one $200 gift card, one $100 gift card and two $20 gift cards) through the Altitude Rewards website.

This card earns 1 Altitude reward point per $1 spent on most eligible purchases, with a higher earn rate of 2 points per $1 on overseas spend and with Spotify Premium, Uber, Uber Eats and Airbnb. It also earns 3 Altitude points per $1 spent (up to $10,000 per calendar month) on flights purchased in Australia directly with Qantas, Jetstar and Virgin Australia, then 1 point per $1 spent thereafter.

The Westpac Altitude Platinum has a $150 annual fee and offers 1 additional cardholder for a $0 additional fee.

Compare these credit cards side by side

Data indicated here is updated regularly
Name Product Bonus Points Rewards program Rewards Points per $ spent Purchase rate (p.a.) Annual fee
Qantas American Express Ultimate Card
55,000 bonus points
Qantas Frequent Flyer
Amex
1.25
20.74% p.a.
$450 p.a.
Get 55,000 bonus Qantas Points, a $450 Qantas Travel Credit and 2 yearly complimentary Qantas Club lounge invitations with this premium card.
Qantas Premier Platinum
100,000 bonus points
Qantas Frequent Flyer
Visa/MC
1
19.99% p.a.
$299 p.a.
Get up to 100,000 bonus Qantas Points, 75 bonus Status Credits and a 0% p.a. balance transfer rate for the first 18 months.
American Express Velocity Platinum Card
50,000 bonus points
Velocity Frequent Flyer
Amex
1.25
20.74% p.a.
$375 p.a.
Get 50,000 bonus Velocity Points when you spend $3,000 for the first 3 months. Plus, 100 Status Credits and luxury travel perks.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
70,000 bonus points
Velocity Frequent Flyer
Visa/MC
0.66
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Earn up to 70,000 bonus Velocity Points (60,000 in 3 months and 10,000 after first year). Plus, save with 0% p.a. for 12 months on balance transfers.
Coles Rewards Mastercard
flybuys
Visa/MC
2
19.99% p.a.
$99 p.a.
Earn 2 flybuys points / $1 spent and save with a 0% balance transfer offer. Plus, 0% international transaction fees on purchases.
Westpac Altitude Platinum Card
80,000 bonus points
Westpac Altitude Rewards
Visa/MC
1
20.49% p.a.
$150 p.a.
Earn 80,000 bonus Altitude Points when you spend $3,000 within 90 days. Plus, complimentary travel insurance covers.
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Compare up to 4 providers

This is a selection of credit cards with competitive bonus points offers available through Finder right now. As there's no one best card for everyone, take some time to compare more frequent flyer and rewards credit cards to find the right one for you.

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