Best frequent flyer and rewards credit cards February 2020
Want to reward your spending? Book your next holiday with your pick of credit cards offering up to 200,000 bonus points.
If you're on the hunt for a new frequent flyer or rewards credit card that'll help you earn more points, look no further than this month's round-up. We've handpicked the cards that offer the biggest bonus points offers through Finder in February. As usual, we've included a range of cards that collect frequent flyer points with Qantas and Velocity. If you prefer the flexibility of bank reward programs, we've included some options for St.George Amplify and Westpac Altitude points chasers as well.
How did we pick this month's line-up?
We've selected this month's line-up based on the cards with the biggest bonus points offered through Finder in February 2020.
We've narrowed down our top picks by cards that offer at least 50,000 bonus points in the first 12 months. 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 Premier Platinum Mastercard
- Bonus points. Up to 120,000 Qantas Points.
- Earn rate. Up to 2 Qantas Points per $1 spent.
- Annual fee. $199 first year ($299 p.a. after)
- Purchase rate. 19.99% p.a.
The Qantas Premier Platinum Mastercard offers one of the biggest bonus Qantas Points promotions right now. When you apply by 26 February 2020, you'll earn 20,000 bonus Qantas Points each month you spend at least $1,500 on eligible purchases for the first six months. That adds up to a total of 120,000 Qantas Points!
You could use your bonus points to fly from Sydney to LA in business class (108,400 points), Melbourne to Toronto in premium economy (101,600 points) or get most of the way from Brisbane to the Maldives in business class (129,600 points).
The earn rates are designed to reward Qantas customers and regular travellers. You'll earn 2 points per $1 spent on eligible Qantas transactions, 1.5 points per $1 spent overseas and 1 Qantas Point per $1 spent on eligible purchases in Australia up to $10,000 per month (0.5 points per $1 spent thereafter).
The perks for Qantas travellers don't end there either. Each year, you'll get two single-entry complimentary lounge invitations. The passes give you access to Qantas Club lounges or Qantas-operated International Business Lounges. You can also save 20% off selected domestic companion flights each year when you book your travel through the Qantas Premier Concierge service.
If you use your card to make a qualifying purchase with Qantas in the first six months after card approval, you can pay it off with no interest for six months from the date it's processed. Like most Qantas Frequent Flyer cards, you can save on an essential travel cost with complimentary international travel insurance cover.
These perks come with a price tag of a reduced first-year annual fee of $199, which increases to $299 p.a. after that.
Runner up: NAB Qantas Rewards Signature credit card
New NAB Qantas Rewards Signature card cardholders can also earn 120,000 bonus Qantas Points. The difference is that you won't pocket them all within the first year.
You'll earn 90,000 bonus Qantas Points when you spend $3,000 on eligible purchases in the first 60 days. After your card's first anniversary, you'll receive another 30,000 Qantas Points. You will collect 1 Qantas Point per eligible $1 spent up to $5,000 per statement period and 0.5 Qantas Points per $1 up to $20,000 after that.
Save $100 with a reduced annual fee of $295 in the first year that reverts to $395 p.a. after that. This Visa card offers complimentary travel insurance and a concierge service but you won't receive any lounge passes.
Best credit card for Velocity Points
American Express Velocity Platinum card
- Bonus points. 100,000 Velocity Points
- Earn rate. Up to 2.25 Velocity Points per $1 spent
- Annual fee. $375
- Purchase rate. 20.74% p.a.
The American Express Velocity Platinum credit card’s current offer has topped the Velocity category in the past, but you only have a few more days to jump on it. When you apply by 12 February 2020 and spend $3,000 in the first 3 months, you’ll score 100,000 bonus Velocity Points.
You could use your bonus Velocity Points to fly return from Brisbane to Bali or one way from Sydney to Honolulu in business class (71,500 Velocity Points).
When you use your card for everyday purchases, you’ll earn 1.25 Velocity Points per $1 spent or 0.5 points per $1 spent on government transactions. Suited to Virgin Australia fans, you'll earn 1 additional Velocity Point per $1 spent on selected Virgin Australia purchases.
This card is packed with travel perks as well. Once you’ve made your first card spend each year, you can book an Australian getaway with a complimentary domestic return Virgin Australia flight between selected cities. The Amex Velocity Platinum also offers passes to two different airport lounges. Each year, you'll receive two single-entry passes to Virgin Australia lounges in Australia and two complimentary entries to the American Express Lounge at Sydney and Melbourne's international airports.
The American Express Velocity Platinum card is one of the few that rewards cardholders with status credits. You'll get 100 Velocity Frequent Flyer Status Credits when you spend at least $50,000 on eligible purchases within the membership year. You can also make use of complimentary travel insurance and purchase protection covers.
This card charges a relatively high annual fee of $375, so it’s important that you take full advantage of the card’s rewards and features.
Runner up: Westpac Altitude Black - Velocity
The Westpac Altitude Black - Velocity card also boasts a big bonus points offer right now. When you apply by 31 March 2020 and spend at least $4,000 on eligible purchases in the first 90 days, you'll get 80,000 bonus Velocity Points. You'll also collect 0.75 Velocity Points per $1 spent on eligible purchases.
You can unwind before your next flight with two single-entry Virgin Australia domestic airport lounge invitations each year. You'll get your passes when you make a direct purchase with Virgin Australia. Plus, you'll receive two vouchers for Economy X Seat Upgrades for eligible domestic flights each year for you and other passengers travelling on the same itinerary.
The Westpac Altitude Black - Velocity card charges a $300 annual fee ($250 annual fee plus a $50 Velocity rewards fee).
Best credit cards for other rewards
St.George Amplify Signature credit card
- Bonus points. Up to 200,000 Amplify Points.
- Earn rate. 1.5 Amplify Points per $1 spent.
- Annual fee. $139 first year ($279 p.a. after)
- Purchase rate. 19.74% p.a.
The St.George Amplify Signature credit card awards the biggest bonus points deal in this month's line-up but it's also ending soon. When you apply by 12 February 2020, you'll get 130,000 bonus Amplify Points in the first year and another 70,000 bonus points when you spend at least $12,000 each year.
This card also has a competitive earn rate of 1.5 points per $1 spent. You can redeem your Amplify Points for partnered frequent flyer points, gift cards and products from the rewards store. To give you an idea of your rewards potential, you could exchange your bonus points for 100,000 Velocity Points or redeem $850 in Mastercard gift cards (166,500 Amplify Points) with points to spare.
If you apply by 12 February 2020, you'll also save $140 with a discounted annual fee of $139 in the first year. The annual fee reverts to $279 after that.
Runner up: American Express Westpac Altitude Platinum bundle
The American Express Westpac Altitude Platinum bundle offers up to 110,000 bonus Altitude Points to new customers who apply by 31 March 2020. You'll receive 80,000 bonus points when you use the Mastercard to spend $3,000 on eligible purchases within the first 90 days and 30,000 bonus points when you meet the same spend requirement with your Amex.
How many points you'll earn on everyday purchases will also vary between cards. On the American Express, you'll earn 3 Altitude Points per $1 spent on purchases in a foreign currency, 2 Altitude Points per $1 spent in Australia and 1 Altitude Point per $1 spent on government transactions. With your Mastercard, you'll pick up 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. You'll get 2 Altitude Points per $1 spent on overseas transactions and with Spotify Premium, Uber, Uber Eats and Airbnb and 1 Altitude Point per $1 spent on all other eligible purchases.
The Amex Westpac Altitude Platinum bundle doesn't offer airport lounge passes, but you can take advantage of complimentary travel insurance, the Westpac concierge service and exclusive perks through Amex Offers.
When you apply by the end of March, you'll also save $49 with a discounted total first-year annual fee of $150 (which reverts to $199 p.a. after that).
Compare these credit cards side by side
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.
Latest Points Finder headlines, tips and guides
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