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Best frequent flyer and rewards credit cards June 2020

Posted: 3 June 2020 9:11 am
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Two girls looking at a phone and smiling while standing near an outdoor bike stand.

Imagine what you could do with up to 200,000 bonus points on one of these credit cards.

If you're looking for a credit card that rewards you for your spending, this month's round-up of bonus point offers looks at some of the most valuable deals currently on the market.

We've covered offers on Qantas Frequent Flyer cards, Velocity Frequent Flyer alternatives and more flexible rewards programs, so you can find a card that helps you reach your goals. Because even though travel is limited at the moment, having more points gives you options for future trips – or for shopping and everyday rewards you want now.

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

We selected this month's line-up based on the biggest bonus points and valuable everyday reward features on credit cards offered through Finder in June 2020.

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. We also looked at the costs associated with each card and considered how affordable they would be for different types of people.

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

St.George Amplify Platinum – Qantas

  • Bonus points. 60,000 Qantas Points
  • Earn rate. 0.5 Qantas Points per $1 spent
  • Annual fee. $99
  • Purchase rate. 19.74% p.a.

The St.George Amplify Platinum Qantas is one of the more affordable platinum frequent flyer credit cards, largely thanks to its $99 annual fee. The current offer also gives you 60,000 bonus Qantas Points when you apply by 30 September 2020 and spend at least $2,000 on eligible purchases in the first 90 days from card approval. This is one of the lower spend requirements and would average out to a spend of around $670 per month for the first 3 months you have the card.

With 60,000 Qantas Points, you could enjoy a one-way business class flight between Sydney and Auckland (41,500 points plus fees and taxes), or take the family away with 3 return economy flights between Sydney and Melbourne. You could also save your points for future travel, or cash them in for $300 worth of Woolworths digital gift cards (57,000 points for one $250 card and one $50 gift card).

This card also earns you 0.5 Qantas Points per $1 spent on eligible purchases – including groceries, petrol, retail purchases and most other everyday spending. You can also access complimentary purchase insurance, guaranteed pricing and extended warranty cover – plus complimentary international travel insurance when you're ready to head overseas again.

It has a 19.74% p.a. interest rate for purchases and a $0 additional cardholder fee if you want to share your account with a loved one.

Runner up: ANZ Frequent Flyer Black

If you're after as many bonus points as possible, the ANZ Frequent Flyer Black offers an impressive 120,000 Qantas Points and $250 cashback on your account when you apply for the card by 9 June 2020 and spend $4,000 on eligible purchases in the first 3 months from card approval.

This is one of the highest bonus Qantas Points offers on the market, giving you enough points for a return economy flight from Sydney to London (110,400 points) or from Melbourne to Denpasar (Bali) in business class (114,000 points). If you'd rather use the points for retail therapy, you could also get $650 worth of David Jones digital gift cards (112,848 points for two $250 gift cards, one $100 gift card and one $50 gift card).

The ANZ Frequent Flyer Black earns 1 Qantas Point per $1 spent on eligible purchases for the first $7,500 spent in a statement period, then 0.5 points per $1 after that. It also offers 1 additional point for eligible spending with Qantas. Other perks include two Qantas Club lounge invitations per year, complimentary travel and purchase insurance covers, and a concierge service. It has an annual fee of $425.

Best credit card for Velocity Points

Information about Velocity Frequent Flyer credit cards

Normally, we would include a rundown of credit cards that earn Velocity Points. But due to Virgin Australia going into voluntary administration, many of these cards are not taking new applications at this time. There is also a freeze on Velocity reward redemptions for an initial period of four weeks, effective from 21 April 2020 (although as of 15 May 2020 you can redeem points for some domestic flights). So as an alternative, we have included cards that earn flexible reward points you could transfer to Velocity Frequent Flyer in the future – or redeem for other rewards.

American Express Explorer

  • Bonus points. 50,000 Membership Rewards points
  • Earn rate. Up to 2 points per $1 spent
  • Annual fee. $395
  • Purchase rate. 20.74% p.a.

The American Express Explorer offers 50,000 bonus Membership Rewards points when you apply online and spend $3,000 on eligible purchases in the first 3 months. You could save these points to see if transfers to Velocity Frequent Flyer become available in the future, or go ahead and move them to one of the other 8 active loyalty program partners – including Asia Miles, Emirates Skywards and Singapore Airlines KrisFlyer. You could also redeem the points for a $250 credit to your account or get a $250 WISH gift card from Woolworths Group (both 50,000 points).

A standout feature of the Amex Explorer is its $400 Travel Credit for American Express Travel bookings. When you redeem this perk, it completely offsets the $395 annual fee on this card. You can also enjoy airport lounge passes, complimentary domestic and international travel insurance, plus a hotel credit of up to US$100 and a complimentary room upgrade, where available, when you book at least 2 consecutive nights at selected hotels.

When you pay with this card, you'll collect 2 Membership Rewards points per $1 on most eligible purchases, with the exception of spending with government bodies, where you earn 1 point per $1 spent. You'll also get access to purchase protection insurance and smartphone screen insurance (which isn't offered on many credit cards).

The American Express Explorer has a purchase rate of 20.74% p.a. which is on the higher end of the scale, so it is worth looking at how the card's costs stack up against the benefits you think you'll use before deciding if this card is a good fit for your goals.

Runner up: St.George Amplify Signature

The St.George Amplify Signature has one of the biggest bonus point offers on the market, with up to 200,000 Amplify Points available for new cardholders. This offer is split into 2 parts: you can collect 130,000 bonus Amplify Points in the first year and 70,000 in the second year when you apply by 30 September 2020 and spend at least $12,000 on eligible purchases each year.

With 200,000 bonus points, you could get $900 worth of digital gift cards (from 199,800 points) or 100,000 frequent flyer points with either Singapore Airlines KrisFlyer or Malaysia Airlines Enrich. You could also save them to see if Velocity Frequent Flyer transfers are offered in the future, or redeem them for retail items via the Amplify Rewards website.

Best credit cards for other rewards

Westpac Altitude Platinum

  • Bonus points. 80,000 Altitude Points
  • Earn rate. Up to 3 Altitude Points per $1 spent
  • Annual fee. $150
  • Purchase rate. 20.49% p.a.

The Westpac Altitude Platinum offers 80,000 bonus Altitude Points when you apply by 5 August 2020 and spend $3,000 on eligible purchases in the first 90 days from card approval.

You could redeem these points for $340 worth of Woolworths WISH eGift cards (79,900 points for 2 of each of the $20, $50 and $100 eGift cards) or for retail items available on the Altitude Rewards store website. If you're ready to plan your next getaway, you could also use these points to get more frequent flyer rewards with Asia Miles, Air New Zealand Airpoints, Malaysia Airlines Enrich or Singapore Airlines KrisFlyer.

The Westpac Altitude Platinum has three different earn rates based on the type of purchases you make. You'll earn 1 Altitude Point per $1 spent on most of your everyday, eligible purchases, with a higher rate of 2 points per $1 on overseas spending and with Spotify Premium, Uber, Uber Eats and Airbnb. You can collect the maximum 3 points per $1 on flights purchased in Australia directly with Qantas, Jetstar and Virgin Australia (up to $10,000 per calendar month, then 1 point per $1 spent after that).

This card also offers complimentary overseas travel insurance, purchase security insurance and extended warranty coverage. You also get the convenience of contactless payments, including mobile options with Apple Pay, Samsung Pay, Google Pay, Fitbit Pay and Garmin Pay. Alongside these perks and features is an annual fee of $150 and a purchase rate of 20.49% p.a.

Runner up: David Jones American Express

The David Jones American Express credit card offers 15,000 bonus Membership Rewards points when you apply, are approved and spend $750 outside of David Jones in the first 3 months.

While this is a smaller bonus point offer than most others on the market, this Amex card offers a generous 3 Membership Rewards points per $1 spent at major supermarkets and petrol stations, 2 points per $1 at David Jones and 1 point per $1 everywhere else. It also has a $99 annual fee that's on the lower end of the scale compared to other cards that offer at least 1 point per $1 spent.

You can redeem Membership Rewards points to shop online at davidjones.com, with 20,000 Membership Rewards points equal to $100 dollars worth of goods. You can also redeem gift cards and retail items through the Membership Rewards store, or transfer your points to one of 8 frequent flyer programs.

The David Jones American Express card offers a bundle of benefits at DJs, including complimentary gift-wrapping and standard delivery on purchases, plus up to 12 months interest-free with no deposit when you spend at least $500 on your card in one transaction (in-store or online). It has a 20.74% p.a. interest rate on purchases.

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 Annual fee
St.George Amplify Platinum - Qantas
70,000
Qantas Frequent Flyer
0.5
19.74% p.a.
$99
Earn 70,000 bonus Qantas Points, plus enjoy 0% p.a. on balance transfers for 15 months and complimentary insurance covers.
ANZ Frequent Flyer Black
120,000
Qantas Frequent Flyer
1
20.24% p.a.
$425
Collect 120,000 bonus Qantas Points and $200 back when you spend $3,000 in the first 3 months. Plus, complimentary lounge passes.
American Express Explorer Credit Card
50,000
Membership Rewards
2
20.74% p.a.
$395
Get 50,000 bonus points when you spend $3,000 in the first 3 months, a yearly $400 Travel Credit and 2 entries per year to the Amex Lounge.
St.George Amplify Signature
200,000
Amplify Rewards
1.5
19.74% p.a.
$139 annual fee for the first year ($279 p.a. thereafter)
Up to 200,000 bonus points (130k in the first year & 70k in the second year) when you spend $12k/year for the first 2 years.
Westpac Altitude Platinum Card
80,000
Westpac Altitude Rewards
1
20.49% p.a.
$99 annual fee for the first year ($150 p.a. thereafter)
Earn 80,000 bonus Altitude Points when you spend $3,000 within 90 days. Plus, a first-year annual fee discount and a long-term balance transfer offer.
David Jones American Express Card
45,000
Membership Rewards
1
20.74% p.a.
$99
Not just for David Jones shoppers, receive 45,000 bonus Membership Rewards Points or 22,500 Qantas Points on eligible spend.
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Compare up to 4 providers

This is a selection of credit cards with competitive bonus points offers and earn rates available on the market 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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