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Module 3: Point(s) to the future

Want more value from your food shopping? Start earning extra points from your shop.

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Earn points from everything you buy

As part of your 5-minute budget, you already know how much you spend on regular food shopping each week.

The average Australian household pays $188 each week on their supermarket shopping alone, according to Finder's Consumer Sentiment Tracker in January 2024.

And we all gotta eat.

So, one way to get more value is by earning points through a credit card.

(Tip: if you already have credit card debt, skip this step but check out balance transfer offers to get that under control.)

The chances are that earning points is something you already do.

Finder research shows 91% of Australians are signed up to at least 1 loyalty program.

A rewards credit card means you can earn points twice: once through the card and once through your supermarket loyalty program.

The average Australian can get up to $50 in value each month from earning points on regular credit card spending, worth $600 in a year*.

That's based on earning 1 point per $1 spent.

The actual value depends on how you use points, but Finder's points calculator is a quick way to estimate the dollar value.

How to get more from a points credit card

One of the fastest ways to earn points is by getting a new card with an introductory bonus points offer.

As an example, let's take the Qantas Premier Platinum Credit Card.

It currently offers 60,000 bonus Qantas Points when you spend $3,000 in the first 3 months.

And another 20,000 bonus points if you haven't earned Qantas Points on a credit card in the past 12 months.

If you got the maximum 80,000 bonus Qantas Points on offer, you'd get between $280 and $6,400 value depending on how you redeemed them.

And as far as the spend requirement goes, it's actually pretty close to what the average person would spend on a credit card in a month ($2,508)!

Wondering about other rewards programs?

Right now, you can get between 30,000 and 200,000 bonus points with a new credit card.

A simple way to choose one is by comparing different cards in Finder's table.

You can even sort by bonus points, annual fees and other key details before you apply.

What should I look out for with a card?

Annual fees

Rewards credit cards typically have higher annual fees than basic cards.

This yearly cost is something you should consider to help decide if the value of the points you earn will balance out that cost.

As a basic guide, you'd typically need to spend between $10,000 and $25,000 to earn enough points for a $100 gift card.

Flight rewards usually offer a higher value than this.

Some cards also offer lounge passes, travel credit or other perks you can factor in.

Interest

You can usually avoid interest charges for your everyday spending by paying off the total amount listed on your credit card statement.

But if you don't pay it all off or miss the due date, interest will be added to your balance.

The average credit card interest rate in Australia is 20.07% and it can be higher for a rewards card.

So paying interest could quickly outweigh the value of earning points.

Keeping vs switching cards

Some people regularly switch cards to make the most of bonus point offers.

But it can hurt your credit score if you do it too often.

As a basic guide, checking your credit score and waiting around 12–18 months before switching can help minimise the impact.

So if you're not getting much value from your credit card after the first year, it might be time to see what other offers are out there.

Compare rewards credit cards

1 - 10 of 111
Name Bonus points Points per $ spent Purchase rate p.a. Annual fee
Qantas Premier Platinum
Qantas Frequent Flyer
Bonus points
80,000
Points per $ spent
1
Purchase rate p.a.
19.99%
Annual fee
$349 first year ($399 after)
Go to siteMore Info
Earn up to 80,000 bonus Qantas Points. Plus, save with a reduced first-year annual fee and 0% p.a. for 12 months on balance transfers. Ends on 01 May 2024.
American Express Velocity Platinum Card
Velocity Frequent Flyer
Bonus points
100,000
Points per $ spent
1.25
Purchase rate p.a.
23.99%
Annual fee
$375
Go to siteMore Info
Get 100,000 bonus Velocity Points when you spend $3,000 in the first 3 months. Plus a return domestic flight each year.
American Express Qantas Business Rewards Card
Qantas Business Rewards
Bonus points
170,000
Points per $ spent
1.25
Purchase rate p.a.
0%
Annual fee
$450
Go to siteMore Info
(ABN holders w/ $75k revenue). Earn 170,000 bonus Qantas Points when you spend $6,000 in the first 3 months.
ANZ Platinum Credit Card
Bonus points
N/A
Points per $ spent
N/A
Purchase rate p.a.
20.99%
Annual fee
$0 first year ($87 after)
Go to siteMore Info
Get $300 back on your card when you spend $1,500 on eligible purchases in the first 3 months and a $0 first-year annual fee. Plus, complimentary overseas travel insurance.
Qantas American Express Ultimate Card
Qantas Frequent Flyer
Bonus points
60,000
Points per $ spent
1.25
Purchase rate p.a.
23.99%
Annual fee
$450
Go to siteMore Info
Get 60,000 bonus Qantas Points when you spend $3,000 in the first 3 months. Plus, a yearly $450 Travel Credit.
Qantas Premier Everyday
Qantas Frequent Flyer
Bonus points
8,000
Points per $ spent
0.75
Purchase rate p.a.
19.99%
Annual fee
$99
Go to siteMore Info
Get 2 bonus Qantas Points per $1 spent on eligible purchases in the first 4 months (up to 8,000 points), plus complimentary insurance.
ANZ Qantas Business Rewards
Qantas Business Rewards
Bonus points
130,000
Points per $ spent
0.75
Purchase rate p.a.
20.24%
Annual fee
$375
Go to siteMore Info
ABN holders w/ $75k revenue. Get 130,000 bonus Qantas Points when you spend $6,000 on eligible purchases in the first 3 months. Plus, a fast-track to Qantas Business Rewards Level 2.
Coles No Annual Fee Mastercard - Bonus Points Offer
Flybuys
Bonus points
20,000
Points per $ spent
0.5
Purchase rate p.a.
0% for 6 months, then 19.99%
Annual fee
$0
Go to siteMore Info
Get 20,000 bonus Flybuys points (worth $100 Flybuys Dollars) and 0% interest on purchases for the first 6 months.
ANZ Low Rate - Credit Back Offer
Bonus points
N/A
Points per $ spent
N/A
Purchase rate p.a.
13.74%
Annual fee
$58
Go to siteMore Info
Get $250 back on your card when you spend $1,500 on eligible purchases in the first 3 months.
American Express Platinum Business Card
Finder Award
Membership Rewards Ascent Premium
Bonus points
350,000
Points per $ spent
2.25
Purchase rate p.a.
0%
Annual fee
$1,750
Go to siteMore Info
ABN holders w/ $75,000 revenue. Get 350,000 bonus Membership Rewards Points when you spend $12,000 on eligible purchases in the first 3 months.
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