Best frequent flyer and rewards credit cards January 2020
Start the new year in style and book your next holiday in business class with up to 120,000 bonus points.
If your 2020 goal is to travel more (or even better, in business class), a frequent flyer or rewards credit card with a big bonus points promotion could help you book it sooner. As always, we've highlighted some of the most competitive available through Finder in this month's round-up.
How did we pick this month's line-up?
We've hand-picked this month's line-up based on the cards available through Finder in January 2020 that offer the most competitive bonus points offers.
To help you earn more points, we've narrowed down our top picks by cards that offer at least 50,000 bonus points in the first 12 months. When considering the standard earn rates, we've only included cards that collect 0.5 points or more per $1 spent.
There's no one best rewards credit card for everyone, so you should compare your options before you commit to a new card.
Best credit cards for Qantas Points
- Bonus points. 120,000 bonus Qantas Points
- Earn rate. Up to 2 Qantas Points per $1 spent
- Annual fee. $425
- Purchase rate. 20.24% p.a.
The ANZ Frequent Flyer Black credit card couples a large bonus Qantas Points deal with a $275 cashback offer.
When you spend at least $4,000 on eligible purchases within the first 3 months from approval, you'll score 120,000 bonus Qantas Points. You'll also get $275 back to your new account after you meet this spend requirement.
To give you an idea of what the bonus points are worth, you could fly return from Sydney to Instanbul in economy or Sydney to Tokyo in premium economy (both 123,000 points). It's also enough points for a return trip from Melbourne to Denpasar (Bali) in business class (114,000 points).
The standard earn rate is relatively competitive too. Your eligible purchases will earn 1 Qantas Point per $1 up to $7,500 per statement period. You'll pocket 0.5 Qantas Points per $1 spent on eligible purchases after that. You can also earn 1 additional point per $1 spent on selected Qantas products and services.
Each year you can indulge in complimentary dining, drinks and exclusive airport lounge perks with two complimentary Qantas Club passes. The complimentary travel insurance and purchase protection covers can also help you fly and spend with peace of mind.
The ANZ Frequent Flyer Black credit card offers a personal concierge service, that can help you with requests including travel recommendations to securing last-minute concert tickets.
The rewards and benefits come at the cost of a $425 annual fee ($370 annual account fee and $55 rewards program service fee).
Runner up: Qantas Premier Platinum Mastercard
The Qantas Premier Platinum Mastercard is also awarding up to 120,000 bonus Qantas Points to new cardholders until 26 February 2020. Each month for the first 6 months, you'll earn 20,000 bonus Qantas Points when you spend at least $1,500 on eligible purchases. You'll also save with a reduced annual fee of $199 in the first year (which reverts to $299 p.a. after that) when you apply by this date.
This card also offers competitive earn rates. You'll collect 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 after that).
The Qantas Premier Platinum is packed with features to benefit loyal Qantas customers. Each year you'll receive two single-entry complimentary lounge invitations. These can be used to relax before your flight at eligible domestic Qantas Club lounges or Qantas-operated International Business Lounges.
When you book eligible flights using your Qantas Premier Concierge service, you can save with up to 20% off selected domestic companion flights once each year.
Best credit cards for Velocity Points
- Bonus points. 100,000 Velocity Points
- Earn rate. Up to 2.25 Velocity Points per $1
- Annual fee. $375
- Purchase rate. 20.74% p.a.
The American Express Velocity Platinum credit card has one of the biggest bonus points offers for Velocity Frequent Flyers right now. New cardholders will receive 100,000 bonus Velocity Points when they apply by 12 February 2020 and spend at least $3,000 on eligible purchases in the first 3 months.
Wondering where 100,000 Velocity Points could take you? You could fly from Sydney to Honolulu in business class (71,500 Velocity Points) or return from Melbourne to Singapore in premium economy (44,700 Velocity Points each way) with your bonus points.
You'll earn 1.25 Velocity Points per $1 spent on everyday purchases. If you're using your card to make transactions with government bodies in Australia, you will earn 0.5 points per $1 spent. As if you needed another reason to book a holiday, you'll also earn 1 additional Velocity Point per $1 spent on selected Virgin Australia purchases.
The American Express Velocity Platinum credit card offers a bunch of extra perks to suit regular Virgin Australia flyers. After your first card spend each year, you can explore Australia with a complimentary domestic return Virgin Australia flight between selected cities.
Cardholders can make use of four airport lounge passes each year. This includes 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 receive 100 Velocity Frequent Flyer Status Credits when you spend at least $50,000 on eligible purchases within the membership year. You can use these credits to move up the Velocity tiers to earn bonus points and enjoy travel perks like extra baggage and priority check-in.
This card also offers complimentary travel insurance and purchase protection covers. You'll enjoy these rewards and perks at the cost of a $375 annual fee.
Runner up: Virgin Australia Velocity Flyer card – Bonus points offer
The Virgin Australia Velocity Flyer card pairs a competitive bonus points offer with a low annual fee. When you apply for the Virgin Australia Velocity Flyer credit card by 24 February 2020, you can treat yourself to up to 70,000 bonus Velocity Points.
You can collect 20,000 bonus Velocity Points each month that you spend $1,500 or more on eligible transactions for the first 3 months. You'll then receive 10,000 additional points after your card's first anniversary, bringing your bonus points total to 70,000.
This card earns 0.66 Velocity Points per $1 spent up to $1,500 per statement period. You'll pick up 0.5 Velocity Points per $1 spent after that.
Save on travel every year with complimentary travel insurance and a $129 Virgin Australia gift voucher. The Virgin Australia Velocity Flyer card charges a reduced annual fee of $64 in the first year. The annual fee reverts to $129 p.a. after that.
Best credit card for other reward points
- Bonus points. Up to 120,000 bonus flybuys points
- Earn rate. 2 flybuys point per $1
- Annual fee. $99
- Purchase rate. 19.99% p.a.
Boost your points balance with up to 120,000 bonus flybuys points with the Coles Rewards Mastercard. When you apply by 31 January 2020 and spend at least $3,000 in the first 90 days, you'll get 100,000 bonus flybuys points. You'll receive an additional 20,000 bonus points within 3 weeks of the card's first anniversary.
To give you some ideas, you could redeem 120,000 flybuys points for $600 flybuys Dollars to save at the checkout or exchange them for 52,200 Velocity Points. You'll also earn 2 flybuys points per $1 spent and one additional point per $1 when you scan your flybuys barcode at partnered retailers including Coles, Kmart and Target. If you use the card overseas or to shop online with an international merchant, you won't be charged any foreign transaction fees.
The Coles Rewards Mastercard charges a $99 annual fee, which is relatively competitive compared to other rewards cards.
Runner up: Citi Rewards Platinum credit card
The Citi Rewards Platinum credit card currently offers new cardholders up to 120,000 bonus points. When you apply by 31 January 2020 and spend $3,000 or more on eligible transactions in the first 90 days, you will receive 80,000 bonus Citi rewards Points. On top of that, you'll collect 40,000 bonus points on your first card anniversary.
You can redeem your Citi rewards Points for travel, merchandise, gift cards, cashback and frequent flyer points with partnered programs. For example, you could exchange 120,000 rewards Points for $550 worth of David Jones gift vouchers or 48,000 Velocity Points.
You'll earn 1 Citi reward Point per $1 spent on eligible domestic and international transactions. There is a cap of $10,000 on domestic purchases per statement period, but your points won't be capped on eligible international spend. You can also shop and travel safely with international travel insurance and purchase protection cover.
The Citi Rewards Platinum credit card charges a low annual fee of $49 in the first year (which reverts to $149 p.a. after that).
Compare these credit cards side by side
These are just some of the competitive frequent flyer and rewards credit cards on the market right now. There's no one best card for every type of points collector, so make sure to compare more frequent flyer and rewards credit cards to find the right one for you.
- Virgin Australia’s sale has dropped fares to just $75
- This Virgin Australia sale is bringing you fares from $79 a pop
- Virgin Australia sale drops fares from $69 across 300,000 seats
- Fly across Australia from $99 with Qantas’s 2020 Boxing Day sale
- Score $75 flights with the Virgin Australia Boxing Day sale