Best frequent flyer and rewards credit cards October 2017
You could book your next overseas holiday for free with credit card bonus points.
Whether you’re a Qantas Frequent Flyer, Velocity lover or prefer the flexibility of bank rewards, we’ve rounded up some of the most competitive frequent flyer and rewards cards to compare this month.
There is no one best frequent flyer or rewards credit card for every Aussie, so this month’s roundup is based on the products with the biggest bonus points offers that are available through finder. To compare more offers, you can check out our rewards and frequent flyer credit card guides.
Please note that all of the rates, features and fees mentioned here are correct at the time of publication.
Best card for Qantas Frequent Flyer Points
- Bonus points. Up to 100,000 Qantas Points.
- Earn rate. Up to 1.25 Qantas Points per $1.
- Annual fee. $195 p.a. for the first year ($395 p.a. thereafter).
- Offer end date. 26 October 2017.
The Westpac Altitude Black currently boasts one of the most competitive bonus points offers on the market right now. The bonus points offer comes in two parts. If you apply by 26 October 2017, you’ll receive a bonus 20,000 Qantas Points. But if you also spend $5,000 on eligible purchases within the first 90 days, you’ll receive an extra 80,000 points. In other words, you could nab yourself a total of 100,000 bonus points. That’s enough points for a return business flight from Sydney to Bali!
It’s also one of the few dual credit cards left on the market, offering higher earn rates when you spend with your American Express. So, you’ll collect 0.625 Qantas Points per $1 on the Mastercard and 1.25 Qantas Points per dollar with the Amex.
You can also get extra value from your card with two complimentary visits to the American Express International Lounge in Sydney (and Melbourne come November) each year. You’ll also receive two complimentary invitations to Qantas Club Lounges each year, giving you more ways to wait for your next flight in luxury. You can also save on travel costs with international travel insurance.
These perks don’t come for free though. The card has a standard annual fee of $395 (which is reduced to $195 in the first year) and a standard purchase rate 20.24% p.a. However, you could potentially offset this cost with the bonus points alone. So, just make sure to pay your balance in full each month so that the interest costs don’t outweigh the value of the rewards.
Runner up: NAB Qantas Rewards Signature card
The NAB Qantas Rewards Signature card is a close second with its 90,000 bonus Qantas Points offer. You have to spend $4,000 in the first 60 days of opening the account to score the points. You can also earn 1 Qantas Point per $1 spent up to $5,000 and then 0.5 Qantas Points per $1 spent between $5,001 and $20,000 per statement period. This card has the same standard annual fee of $395, although it doesn’t boast a reduced annual fee in the first year.
Best card for Velocity Points
- Bonus points. 80,000 Velocity Points.
- Earn rate. Up to 1 Velocity Point per $1.
- Annual fee. $289 p.a.
- Offer end date. 31 October 2017.
The Virgin Australia Velocity High Flyer card has topped the Velocity category once again. You can earn up to 80,000 bonus points, but the spend requirements are a little tricky.
Once you’ve activated your card, you can receive 16,000 bonus points every month you spend at least $3,000 on retail purchases in the first five months. So, this means you have the potential to earn up to a total of 80,000 bonus Velocity Points in the first five months. This is in addition to the standard 1 Velocity Point you can earn per $1 spent on eligible transactions up to $8,000 per month and then 0.5 Velocity Points per dollar spent thereafter (uncapped).
As well as the points, you can also fly for free thanks to a complimentary $129 Virgin Australia gift voucher each year. To receive the flight voucher, you have to make an eligible purchase on your card within two months of requesting your voucher. You can relax for your flight in style with two annual passes to Virgin Australia lounges each year as well.
The card has an annual fee of $289 p.a. and a purchase rate 20.74% p.a. Like all rewards cards, this means you have to earn enough rewards to outweigh the annual fee and aim to repay your balance in full every month. Although this card currently boasts one of the highest Velocity Points bonus points offers, pay attention to spend requirements and make sure it fits your budget before you splurge.
- Runner up: Virgin Australia Velocity Flyer card
The Virgin Australia Velocity Card offers a lower bonus points offer of 60,000 Velocity Points, but it also has a more competitive annual fee of $64 p.a. in the first year and $129 p.a. thereafter. It has a similar bonus points structure to the High Flyer card, though. You’ll collect 20,000 points each time you spend at least $1,500 a month in the first three months, potentially adding up to 60k. You’ll also earn 0.66 Velocity Points per $1 spent up to $1,500 per statement period and 0.5 points per dollar thereafter.
This card also comes with a $129 Virgin Australia gift voucher and complimentary travel insurance to help you cut down on travel costs.
Best card for credit card reward points
- Bonus points. 100,000 Citi Rewards points.
- Earn rate. 1 Citi Rewards point per $1.
- Annual fee. $49 in the first year ($149 p.a. thereafter).
- Offer end date. 31 January 2017.
The Citi Platinum credit card comes with one of the highest bonus points offers among bank rewards programs on the market right now. If you spend $3,000 in the first 90 days, you’ll receive 100,000 Citi Reward points. If you booked through Citi Rewards, 100,000 bonus points could get you a one-way economy flight from Sydney to Hanoi. You’ll also earn 1 point per $1 on domestic purchases (up to $10,000 per statement period) and this same earn rate but uncapped on international spend.
This card also comes with complimentary travel insurance, a personal concierge service and access to the Citibank Dining Program, which offers a free bottle of wine when you dine with partnered restaurants.
The card also has a competitive annual fee of $49 in the first year and $149 p.a. thereafter, which will make it easier to ensure your rewards offset the cost of the card. It also has a purchase rate of 20.99% p.a., so you’ll get the most value if you pay your balance in full every month and avoid interest.
- Runner up: ANZ Rewards Black credit card
The ANZ Rewards Black credit card offers 75,000 bonus ANZ Rewards points if you spend $2,500 in the first three months. You’ll also earn 2 ANZ Rewards per $1 spent up to $5,000 per statement period and 1 point per dollar spent after that. The card comes with unlimited access to participating Véloce airport lounges, a personal concierge service and complimentary travel insurance. It also has $0 annual fee for the first year, but this ramps up to $375 p.a. thereafter.
While these cards have some of the most competitive bonus points offers on the market, you can compare more options using our frequent flyer guide. Make sure you compare the standard earn rates, extra card features as well as the annual fees and interest rates to find the most rewarding credit card for you.
Compare the best frequent flyer and reward credit cards
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