Frequent flyer credit cards

Travel is back and now is a great time to upgrade your seat, your status and your wallet with a frequent flyer credit card. Compare Qantas, Velocity and more.

PROMOTED
Qantas American Express Ultimate Card
100,000 bonus Qantas Points
  • 1.25 points per $1 spent
  • $450 annual fee
  • 1.25 points per $1 spent
  • $450 annual fee
Eligibility criteria, terms and conditions apply.

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Name Product Bonus points Rewards program Rewards points per $ spent Purchase rate p.a. Annual fee
Qantas American Express Ultimate Card
100,000
Qantas Frequent Flyer
1.25
20.74%
$450
Earn 100,000 bonus Qantas Points when you spend $3,000 within 3 months. Plus, a yearly $450 Travel Credit.
ANZ Frequent Flyer Black
130,000
Qantas Frequent Flyer
1
20.24%
$425
Cashrewards Max benefit. 130,000 bonus Qantas Points and $255 back when you spend $3,000 on eligible purchases in the first 3 months.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
100,000
Velocity Frequent Flyer
0.66
20.74%
$64 for the first year ($129 thereafter)
Get up to 100,000 bonus Velocity Points on eligible spending. Plus, a reduced first-year annual fee and a yearly $129 Virgin Australia Gift Voucher.
Qantas Premier Platinum
80,000
Qantas Frequent Flyer
1
19.99%
$225 for the first year ($299 thereafter)
Earn 80,000 bonus Qantas Points when you spend $3,000 in the first 3 months and save with a reduced first-year annual fee.
American Express Platinum Edge Credit Card
N/A
Membership Rewards
1
20.74%
$0 for the first year ($195 thereafter)
Save with a $0 first-year annual fee, $200 yearly Travel Credit and up to 3 Membership Rewards points per $1 spent.
ANZ Frequent Flyer Platinum
70,000
Qantas Frequent Flyer
0.75
20.24%
$0 for the first year ($295 thereafter)
Now offering Cashrewards Max. Receive 70,000 bonus Qantas Points when you spend $2,500 on eligible purchases within 3 months. Plus, a $0 first-year annual fee.
Citi Premier Qantas Card
80,000
Qantas Frequent Flyer
0.5
0% for 6 months, reverts to 21.49%
$175 for the first year ($350 thereafter)
Get 80,000 bonus Qantas Points when you spend $4,000 in the first 90 days and a 0% purchase rate offer. Plus, a first-year annual fee discount.
American Express Qantas Business Rewards Card
150,000
Qantas Business Rewards
1.25
0%
$450
ABN holders w/ $75,000 revenue. Get 150,000 bonus Qantas Points when you spend $3,000 in the first 2 months. Plus, a $450 Qantas Flight Voucher.
St.George Amplify Platinum
100,000
Amplify Rewards
1
19.49%
$29 for the first year ($99 thereafter)
Earn 100,000 bonus Amplify Points (worth $450 in gift cards) when you spend $3,000 in the first 90 days. Plus, a first-year annual fee discount and Kayo cashback offer.
Citi Rewards Card - Velocity Points Offer
60,000
Citi Rewards Program
1
21.49%
$0 for the first year ($149 thereafter)
Earn 60,000 bonus Velocity Points when you spend $3,000 in the first 90 days. Plus, $0 first-year annual fee.
Qantas American Express Premium Card
70,000
Qantas Frequent Flyer
1
20.74%
$249
Enjoy 70,000 bonus Qantas Points, 2 complimentary Qantas Club lounge invitations per year and the protection of complimentary insurance covers.
American Express Explorer Credit Card
100,000
Membership Rewards
2
20.74%
$395
Get 100,000 bonus Membership Rewards Points when you spend $4,000 in the first 3 months. Plus, a $400 Travel Credit each year.
Westpac Altitude Platinum Card
110,000
Westpac Altitude Rewards
1
19.99%
$49 for the first year ($150 thereafter)
Get 110,000 bonus Altitude Points (worth $350 cashback) when you spend $3,000 in the first 90 days. Plus, a $49 first-year annual fee discount.
Qantas American Express Discovery Card
N/A
Qantas Frequent Flyer
0.75
20.74%
$0
Earn uncapped Qantas Points for every $1 dollar spent, plus an ongoing $0 annual fee.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
N/A
Velocity Frequent Flyer
0.66
20.74%
$0 for the first year ($129 thereafter)
Get 0% p.a. on balance transfers for 28 months (with no BT fee). Plus, $0 annual fee in the first year.
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Compare frequent flyer credit cards

Frequent flyer credit cards are the easiest way to earn Qantas, Velocity or other points on your everyday spending. They also offer great travel perks, such as lounge access, complimentary insurance and big bonus point offers. Here, you can compare every frequent flyer card in our database to find the best one for you. Make sure to look at bonus points offers, the number of points you'll get per dollar spent and the costs that apply.

Best frequent flyer credit cards* for May 2022

Check out this list of frequent flyer credit cards in Australia to decide if one is right for you:

  • NAB Qantas Rewards Signature. Collect up to 120,000 bonus Qantas Points and save with a discounted annual fee of $295 for the first year, which goes to $395 p.a. after that.
  • Qantas Premier Platinum. Get up to 80,000 bonus Qantas Points, a $225 first-year annual fee ($299 p.a. after that), lounge passes and complimentary insurance covers.
  • American Express Velocity Platinum. Offers 120,000 bonus Velocity Points for new card members and Velocity Status Credits each year when you meet the spend requirement, with a $375 annual fee.

How do frequent flyer credit cards work?

You can use a frequent flyer credit card to earn points on everyday, eligible purchases. These cards are linked to Qantas Frequent Flyer, Velocity Frequent Flyer or another airline loyalty program – and offer you a set number of points per dollar spent. For example, you could earn 1 point per $1 spent. Many cards also come with thousands of introductory bonus points, which can give your rewards balance a quick boost.

With a frequent flyer credit card, you’ll earn points on most everyday purchases, including supermarket shopping, retail therapy, petrol, dining out and even streaming service subscriptions. Cash advances, balance transfers and BPAY payments don't typically earn points. Once you’ve earned enough points, you can redeem your points for flights, flight upgrades, accommodation or even retail rewards.

'Points give me access to money-can't-buy experiences'

Sarah MegginsonSarah Megginson, Finder's senior editor for money

For over 5 years, Sarah Megginson has used frequent flyer points to get flight upgrades and book luxury holidays for her family of 5 – including a business class trip from Brisbane to LA in 2018.

"Flying in business class with kids is a joy," she said, "but to pay for a business class flight to the US for my family would be tens of thousands of dollars. I would never buy business class flights!"

Megginson said she also enjoys frequent flyer perks when she's travelling domestically.

"I usually fly to Sydney 5 or 6 times a year for work and will either buy economy and use points to upgrade or use points for a Business Rewards Flight."

"If I can get the upgrade, it's only 8,000 points, but the cash value for a business class flight is around $600-$700."

Megginson said she typically earns around 500,000 Qantas Points in a year by collecting them in just about every way she can, including the following:

  • Credit card bonus point offers: She'll sign up for a card and keep it for 18 months or so, then change to a new one. Her husband does the same, which doubles their point-earning power. Based on bonus point offers in recent years, this could earn them between 80,000 and 260,000 Qantas Points combined.
  • Paying with a frequent flyer credit card: "I pay for as much as I can by card to earn points. Bills can really add up, so it's an easy win for points." But Megginson also said it's important to check to make sure the payment will earn points. "I remember once I paid a big tax bill with a card that didn't earn points for ATO payments. It ended up costing a lot in fees for nothing, so I always check cards to see if this type of spending earns points."
  • Shopping at Woolworths: Her Everyday Rewards account is linked to her Qantas Frequent Flyer account, and she said they often do bonuses of 1,000-2,000 points, which can quickly add up. "I earn around 50,000 points a year through this", she said.
  • Utilities: "I transferred my energy plan to Red Energy and got bonus Qantas Points as well as earning points when I pay my bills," she said, adding that in the past, she's also taken advantage of deals on phone plans.

What about the costs?

Depending on the mix of credit cards, Megginson said she would spend around $300 to $800 per year on fees – but the experiences she and her family have got by using points are more than worth the annual fees she pays on her credit cards.

"I see the fees as an investment into this lifestyle I'd never have otherwise," she said, noting that her family's Brisbane to LA trip was worth around $29,000.

You don't need to be a jet-setting executive or have platinum status to benefit from frequent flyer points – anyone can take advantage of them with simple strategies like these. Whether you get a yearly holiday or a one-off business upgrade, rewards can give you something for the money you were going to spend anyway.

Types of frequent flyer credit cards

Pros and cons of frequent flyer credit cards

A frequent flyer credit card can be a great way to reward your spending with points, but they usually come at the cost of high annual fees and interest rates. Before you apply, you should weigh up the different benefits, costs and features to help you decide if a frequent flyer credit card is worth it for you.

Pros

  • Bonus points offers. Many frequent flyer credit cards come with introductory offers that give you tens or thousands of bonus points. These vary based on the card tier.
  • Points per $1 spent. You'll earn frequent flyer points for money you're going to spend anyway.
  • Perks. Many frequent flyer credit cards offer complimentary travel insurance, purchase insurance covers, airport lounge passes, status credits or travel credits.

Cons

  • Offer spend requirements. Promotional offers usually require you to spend a fair amount of money in a short period to get bonus points (e.g. $3,000 in 90 days).
  • High annual fees and interest rates. To pay for the rewards and perks you get, most cards charge annual fees and relatively high interest rates.
  • Temptation to spend. If you struggle to stick to a budget and don't pay your balance in full each month, the promise of frequent flyer points could tempt you to overspend.
Promoted
100,000 bonus Membership Rewards points when you spend $4,000 in the first 3 months. Plus, a $400 Travel Credit each year and complimentary insurances.

How do I find the best frequent flyer credit card for me?

Frequent flyer credit cards have their perks but can come at a cost. Here are some questions to ask when you're looking at cards:

  • How much is the annual fee?

Although some frequent flyer cards come with a $0 annual fee for the first year or for life, others charge fees that can set you back hundreds of dollars.

You can work out if an annual fee is worth it by looking at whether the yearly value of the rewards you're redeeming and extra features you're taking advantage of (such as travel credits, complimentary flights and airline lounge passes) give you more value.

  • How many bonus points can I get?

Introductory bonus point offers generally vary between 10,000 and 150,000 points on cards designed for personal spending.

To get a sense of the value, look at what rewards you can redeem with the bonus points – and check the spend requirements. For example, let's say you have to spend $4,000 in 60 days to get 100,000 bonus Qantas Points. That is equivalent to earning around 25 Qantas Points per $1 spent. You can redeem 100,000 Qantas Points for a return economy or one-way business class flight overseas, so that could help you justify the spend to get the points.

  • How many points can I earn for my spending?

There are 3 key factors for earning points with a frequent flyer credit card:

    • Earn rate. This is how many points you can earn per $1 on your eligible spending. A card that earns 1 point per $1 (or more) spent is competitive, but some earn rates can be as low as 0.25 points per $1 spent.
    • Points tiers. Some cards have different earn rates based on the type of purchases you make. For example, a card could give you 1 point per $1 spent on overseas transactions, 0.75 points per $1 spent in Australia and an additional point per $1 spent on bookings with a partnered airline. With these types of cards, think about what you'll mostly use it for and look at the earn rate for that spending category to decide if it's worth it.
    • Points caps. Some cards cap or reduce the number of points you can earn after you reach a set spending threshold. For example, you may earn 1 point per $1 spent up to $10,000 per statement period and either a reduced earn rate or no more points until the next statement period. If the card does have a points cap, look at how much you spend each month. If it's above the threshold, choose a card with a higher or no points cap so you can earn as many points as possible.
  • How much does it cost to join a frequent flyer program?

Most frequent flyer programs are free to join, although Qantas Frequent Flyer has a one-time $99.50 joining fee. But there are a few ways to join the Qantas Frequent Flyer program for free – including with some credit cards.

  • Are there extra features?

Most frequent flyer credit cards come with extras that can help you get more value from your card. These can range from complimentary flight vouchers or travel credits to airline lounge passes, complimentary travel insurance and concierge services. Make sure you compare the extra features and ask yourself if you would actually use them before you apply for the card.

Are frequent flyer credit cards worth it?

Paying with a frequent flyer credit card can be a great way to boost your points balance and redeem your next flight reward sooner. But these cards often come with expensive annual fees and purchase interest rates, so here are a few details to keep in mind when you're deciding if you want a frequent flyer card.

  • Frequent flyer credit cards are suited to regular spenders who pay their balance in full each statement period. This is because you'll earn more points based on how much you spend and your rewards won't be outweighed by interest if you clear your balance each month.
  • Frequent flyer credit cards also benefit frequent travellers who will make use of the extra features, such as airline lounge passes, complimentary travel insurance and travel credits, which can help you offset the annual fees.

You can decide if a card is worth it by comparing the value of the bonus points offer, how many points you'll earn per $1 spent and extra features (such as airline lounge passes or travel credits) to the annual fee. The value of these rewards and extra perks should be higher than the cost of the card.

There are a bunch of competitive frequent flyer credit cards on the market right now, so comparing your options will help you find the most rewarding one for you.

What are my frequent flyer points worth?

The dollar value of your frequent flyer points depends on what you redeem them for – but here’s an example to show how far your points can take you.

Say you earned 100,000 bonus points with a new credit card. That's enough for a return economy reward flight with either Qantas (83,800 Qantas Points) or Virgin Australia (89,600 Velocity Points), not including any extra fees or taxes.

To put this in perspective, the cost of buying an economy return Qantas flight from Sydney to Los Angeles can start from $1,663 at the time of writing. This means that 1 Qantas Point is worth about 1.98 cents if you use points to redeem this flight. You can usually find return economy Virgin Australia flights from Sydney to Los Angeles for around the same price, so you can expect the value of Velocity Points to be similar for this reward.

As another example, you could get $475 worth of Woolworths digital gift cards for 98,430 Qantas Points if you didn't want to fly (one $250 gift card, two $100 gift cards and one $25 gift card from the Qantas Store). But this reward offers less value in comparison to the flight example above, giving you just 0.5 cents value per point.

To get the most from your frequent flyer points, compare a few options and redeem the one that offers the highest dollar value for your points. See Finder’s guide to how much 1 Qantas Point is worth for more examples.

Example: Value per 1,000 Qantas/Velocity points

If you're planning your next overseas trip, the examples below give you an idea of how much value you can get from your frequent flyer points. Just keep in mind that flight costs and the total points needed can change based on factors including the fare class, carrier charges and flight sales.

FlightCostQantas PtsVelocity PtsValue/1,000 Qantas PtsValue/1,000 Velocity Pts
Sydney to Melbourne return (Economy)$32116,00015,600$20.06$20.58
Sydney to Melbourne return (Business)$99836,80031,000$27.12$32.19
Sydney to Los Angeles return (Economy)$1,50383,80089,600$17.94$16.77
Sydney to Los Angeles return (Business)$10,416216,800191,000$48.04$54.53

(Calculations are based on 24 January 2022 point values for Qantas Classic Flight rewards and Virgin Australia Reward Seats.)

RELATED: Paying for flights? Check out the latest flight deals.

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Frequently asked questions

What credit card transactions and purchases don't earn points?

You can usually only earn points on what your bank or credit card provider considers an eligible transaction. This usually includes everyday spending at the supermarket, on travel bookings and more. You usually can’t earn points on gambling transactions, cash advances, balance transfers and sometimes government transactions.

You'll find details of the transactions you can and can't earn points on in your credit card's product disclosure statement.

Can I earn points on payments to the ATO?

Most Australian banks consider government transactions (such as ATO bills) ineligible to earn points. Currently, most of the cards that allow you to earn points on ATO bills and government transactions are issued by American Express – or designed for business spending, rather than personal use.

Can I earn status credits with a frequent flyer credit card?

Some credit cards have promotional offers that let you earn status credits. You can check the comparison table above for any offer that comes with status credits. Unlike points, you can use status credits to move up the status tiers of your frequent flyer program. The benefits vary between different programs and tiers, but you can usually expect perks such as more competitive earn rates, lounge passes and priority check-in as you ascend the status levels.

How can I redeem my frequent flyer points?

When you earn frequent flyer points with your credit card, they’re transferred to your linked frequent flyer account – usually once a month. To redeem your points, log in to your frequent flyer account and follow the prompts to redeem your rewards.

Can I transfer points to another program?

You can often transfer credit card rewards (such as American Express Membership Rewards or St.George Amplify Rewards) to frequent flyer programs, but you can’t usually transfer frequent flyer points between programs.

Even if you can’t transfer your frequent flyer points to another program, you can use your frequent flyer points to redeem flight rewards with a partnered airline. For example, Qantas belongs to the oneworld Alliance, so you can use your Qantas Points to redeem flight rewards with partners including British Airways, American Airlines and Cathay Pacific.

Will I lose my points after I close my credit card account?

If the points have already been transferred to your frequent flyer account, you won't lose them by closing your credit card account. But it can sometimes take a few weeks for the frequent flyer points to appear in your account, so make sure the points have moved across to your frequent flyer account before you cancel your card.

How much are my points worth?

The value of your points will depend on the loyalty program and the reward you’re redeeming. Generally, redeeming your points for flights and upgrades offers the best value, as this guide to how much 1 Qantas Point is worth shows.

You can work out the value of your points for any reward by dividing the retail cost of the reward by the number of points you need to redeem it. For example, if a flight cost $600 and you could redeem it for 40,000 frequent flyer points, the value of each point would be 1.5 cents.

Are all frequent flyer points worth the same amount?

No, frequent flyer points are worth different amounts across programs. At the time of writing, you can redeem a $100 Westfield voucher for 24,850 Qantas Points or 18,000 Velocity Points. So in this example, you’ll get more value if you redeemed your Velocity Points for the $100 gift card.

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    137 Responses

    1. Default Gravatar
      SarjNovember 25, 2019

      Hi there! Are there any cards that do a pre-approval without impacting on your credit score? After submitting all financial details, relevant papers etc, it would be great to know if any of the firms offer a pre-approval without a hard lodgement on your credit file.
      Thanks

      • Default Gravatar
        NikkiNovember 27, 2019

        Hi Sarj,

        Thanks for your comment and I hope you are well. As of this writing, we don’t have a page that offers a pre-approved credit card as well as one that will not impact your credit score.

        Hope this clarifies!

        Best,
        Nikki

    2. Default Gravatar
      kateApril 8, 2018

      Can you please advise when the 100,000 bonus points awarded to those who open a Qantas American Express Ultimate Card are awarded? Are they applied as soon as the $3000 spend limit applies – perhaps after two months? – or only after the three months limit has passed?

      • Avatarfinder Customer Care
        JeniApril 8, 2018Staff

        Hi Kate,

        Thank you for getting in touch with finder.

        Points are typically credited in 2 weeks, but can take up to 8 after the spend criteria is met.

        I hope this helps.

        Have a great day!

        Cheers,
        Jeni

    3. Default Gravatar
      BethJanuary 24, 2018

      You forgot to mention the Qantas Cash Mastercard. The best!

      • Avatarfinder Customer Care
        RenchJanuary 24, 2018Staff

        Hi Beth,

        Thanks for this info.

        Yes, the Qantas Prepaid Frequent Flyer Card with Qantas Cash is also featured on our site. You may refer to our list of frequent flyer credit cards for more information.

        Best regards,
        Rench

    4. Default Gravatar
      JoJune 30, 2017

      Can you please direct me towards cards that do not have a low cap. Already have an Amex but looking for a Visa card to gain maximum qantas points spending over $30000 a month.

      • Avatarfinder Customer Care
        MayJune 30, 2017Staff

        Hi Jo,

        Thanks for reaching out.

        We do have a page for credit cards with uncapped frequent flyer points. Please note though some of the cards do not directly earn frequent flyer points as you spend. Their rewards points can be transferred to the frequent flyer program they are a partner with.

        I hope this helps.

        Cheers,
        May

    5. Default Gravatar
      MyViaCeNovember 28, 2016

      Hi, i heard westpac offers 100.000 bonus points for balance transfer than can be used towards qantas frequent flyer. Is that right?

      • Avatarfinder Customer Care
        DeeNovember 28, 2016Staff

        Hi MyViaCe,

        Thanks for your question.

        Unfortunately, you can’t transfer your Westpac Altitude Rewards to Qantas frequent flyer program, but you can to Air New Zealand Airpoints, Cathay Pacific Asia Miles, Malaysia Airlines Enrich, Singapore Airlines KrisFlyer, and Virgin Australia Velocity.

        Please feel free to read more about transferring frequent flyer points and their points conversion rate.

        Cheers,
        Anndy

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