These cards are your ticket to sky-high point earning potential, hefty welcome bonuses, solid ongoing earn rates, and a premium selection of travel-centric perks.
7+
Great
These cards might have slightly less impressive points earning or sign-up bonuses.
5+
Standard
Reliable workhorses for frequent flyers who want a well-balanced card. Enjoy decent point earning potential, competitive rates, and a good mix of practical perks.
0+
Basic
The entry point in the frequent flyer market. Their sign-up bonuses and ongoing earn rates might not be as generous.
The Qantas American Express Ultimate Card is a points-earning machine. You get a stack of bonus points if you spend enough in the first few months, and it has one of the highest earn rates on the market. It has some great travel perks too, like 2 complimentary lounge passes and travel insurance.
While there is a higher than average annual fee, it's entirely offset by the annual travel credit. The only thing you really need to watch out for is the 3% currency conversion fee if you're travelling overseas.
This card has a Finder Score of 9.9 in the frequent flyer category.
Pros & cons
Up to 90,000 bonus Qantas Points
Up to 2.25 Qantas Points per $1 spent on eligible purchases in Australia, uncapped
Offers 60,000 bonus Velocity Points when you spend $3,000 in the first 3 months. That's enough for a one-way business class flight from Sydney to Los Angeles.
100 Velocity Frequent Flyer Status Credits when you spend $50,000 in your card membership year.
Complimentary Virgin Australia return economy domestic flight every year between selected cities.
Travel perks, including 4 lounge passes per year and travel insurance.
Pros & cons
60,000 bonus Velocity Points offer
Get 50 Velocity Status Credits per year when you spend at least $25,000 on eligible purchases each membership year, plus 50 credits if you spend a further $25,000 in that year.
Virgin Australia Lounge Access & Guest Lounge Passes at select domestic airports
Relatively high $440 annual fee
3% foreign transaction fee
The 23.99% p.a. interest rate for purchases is high among other credit cards in Australia
The American Express Qantas Business Rewards Card is a frequent flyer-oriented business card. It offers a very good combination of bonus Qantas Points, complimentary travel insurance and a high earn rate. But the annual fee is on the steeper side at $450.
This card has a Finder Score of 9.9 in the frequent flyer category.
Pros & cons
130,000 bonus Qantas Points
Complimentary travel insurance
2 complimentary domestic Qantas Club lounge passes per card membership year
The standard $450 annual fee is relatively high
3% foreign currency conversion fee
Video: How I got business upgrades to London & still have 934,000 Frequent Flyer Points
5:18
0:01 Since my last video where I discussed how I earned 900,000 points with Qantas, I've been busy spending those points. I've been from Sydney to London and back in business with the upgrade paid for points and I have booked flights for myself and my whole family to Japan and back again with points. But despite all that spending, as of today I've actually got more points than before 934,000 points.
0:23 In this video, I'm gonna tell you how I got the upgrades, how I earn those points. I'm also going to discuss some changes coming to the Qantas system which will make it both more difficult and more straightforward to earn points going forward.
0:41 How to get upgrades The first thing we're gonna talk about is how I managed to get the upgrades between Sydney and London and back in business. Now there's a couple of things that influence the chance of you getting a rewards upgrade when you apply for one with Qantas. And aside from how sold out the flight is and how many spare seats there are, the biggest contributing factor is your status with Qantas - Gold, Silver, etcetera
1:02 Now I'm currently Platinum with Qantas, which makes me the second highest priority aside from Platinum One for getting a rewards upgrades on the flight. Now I don't normally fly enough with work or in my personal life to achieve platinum level status. The way I managed to do it was by having a child. Now I know this isn't something that everybody can do but if you have had a kid recently or you have one on the way and you're going on parental leave from work then you can use that as a reason to lock your status with Qantas.
1:29 If you're going for leave above a certain period of time, you get a letter from your company, you send it in to Qantas, they lock your status. The benefit of locking your status is that while it's locked for that two year period you continue to earn status credits and they don't expire. So a few trips home to Ireland and back in the first couple of years of my kid's life managed to get me platinum status which made me high priority for the upgrade. That's something worth looking at.
1:50 Aside from that, travelling in smaller parties, travelling on your own makes an upgrade more likely and in this case, I booked premium economy and upgraded to business. So that gives you a better chance than if you just book economy.
2:05 How to earn more points Those two business upgrades cost me about 70,000 points each way gone from my account. How do you replace the points when you're using the points? Well the main way I did it over this last three months was with shopping and with purchasing wine firstly with Qantas Wine. Look for cases on Qantas Wine's website that come with bonus points particularly around sale periods or stock clearance periods. You can get up to 25,000 bonus points per case.
2:29 What you want to make sure is you're not paying above odds for those points. So you want to check the prices of all the wines in the case versus availability elsewhere. That can be pretty time consuming. But recently I found that ChatGPT does a pretty good job of doing the price checks for me.
2:44 So that's one way to earn points that covered one of the upgrades for me over the last 3 months and the second way is via shopping, by converting my Woolworths points to Qantas Points. For more details on that, you can check my previous video. But also by shopping and spending via my American Express Ultimate card which costs $450 a year in an annual fee.
3:05 But you get all of that back in Qantas travel credit. It earns 1.25 points per dollar which is one of the best earn rates on the market and that's been the main way I've been earning points.
3:13 for the last few years now, it's worth noting Qantas program changes. There are some changes coming to the Qantas rewards program. Some good, some bad. Basically, it breaks down into four different changes. First of all, Qantas are adding more reward seats on partner airlines like KLM Hawaiian Airlines and Air France which is good because it means you can use your points to book business or economy seats on other airlines, which might have better availability than Qantas.
3:38 The second change is Qantas is now going to be offering more points earned on domestic flights. They say about 25% more, though I gotta be said, it's gotta be said flying doesn't generally earn you that many points anyway. A fraction of the points I earn actually from flying. But if you're flying domestically regularly that could be a good way to earn extra points.
3:56 Third change is that they are going to make it cheaper to book rewards seats with Jetstar. So that's a positive. But the drawback, the fourth point here is from August, Qantas are going to make it more expensive to book Classic Reward seats. So you have to spend a higher percentage of points to get those seats.
4:13 Virgin status match vs Qantas Overall, it's a bit of a mixed bag. You can check out an article from Angus Kidman on Finder which I'll link in the description below. For more information on these changes, finally, it's worth noting that there is another major airline in Australia. I know we really should have more than two, but Virgin Australia is also available and the benefit of being high status with one airline is you can often use that to match your status with the other
4:37 so I managed to get Virgin to match my status with Qantas. Not quite match. I got gold with Virgin and I'm platinum with Qantas but getting gold with Virgin allowed me to fly on Virgin with status and use their lounges. I've done a domestic flight and I've got a international flight coming up.
4:54 So in future, we will do a video looking at the difference between the flying and club experience between Qantas and Virgin and answer the question "Which is better?". Which is worth spending your time investing in? 5:06 Thank you for your time watching this video you can find more frequent flyer news on finder.com.au.
How do frequent flyer credit cards work?
You can use a frequent flyer credit card just like any regular credit card, but it's linked to your frequent flyer account. So every time you make a purchase with the card, you earn points – usually between 0.5 and 1.25 per $1 spent.
Many cards also come with introductory bonus points, which can give you enough for a free flight. These offers are a popular way to get value from a frequent flyer card in a short amount of time. You can also get value each year with perks like lounge passes, complimentary insurance and travel credit.
Points give me access to money-can't-buy experiences
Finder's head of editorial Sarah Megginson has used frequent flyer points to get flight upgrades and holidays for over 10 years – including a business class trip from Brisbane to LA for her family of 5.
She also uses points to upgrade and save on business class flights in Australia, with Finder analysis showing each 1 Qantas Point used on an upgrade is typically worth between 2 and 8 cents.
Megginson gets around 500,000 Qantas Points a year by collecting them in just about every way she can – including bonus point offers on frequent flyer credit cards.
Depending on the mix of credit cards, Megginson said she would spend around $300 to $800 per year on fees.
"I see the fees as an investment into this lifestyle I'd never have otherwise," she said.
Bottom line? Anyone can take advantage of frequent flyer points – and with the right credit card you can get rewarded for money you were going to spend anyway.
Bonus points offers. You can typically get between 8,000 and 150,000 bonus points when you apply for a new frequent flyer credit card and meet the offer requirements. This can be enough for an overseas flight or great upgrades.
Points per $1 spent. Most frequent flyer credit cards earn between 0.5 and 1.25 points on everyday spending, and some offer more for spending with partnered airlines.
Travel perks. Many cards offer complimentary travel insurance, airport lounge access, flight or travel credit and even status credits to help you reach higher membership tiers.
Cons
Bonus point requirements. Some frequent flyer credit cards split the bonus points offer, so you need to keep the card for over a year to get them all.
High card costs. Frequent flyer credit cards typically have high interest rates around 19% to 22% for purchases. And annual fees are usually around $200-$450 or more for cards with good earn rates and perks.
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.
"Travelling is (increasingly) expensive but frequent flyer points can make it more affordable, if you're smart about it. I always take some time to research a card and calculate how many points I could get. Once I've got the card, I make sure I never pay any interest on it."
Frequent flyer credit cards are worth it if you pay off your balance and get enough value for the annual fee you'll pay. You don't have to use every feature, just make sure you take advantage of the perks you value.
Some key points to keep in mind:
Most credit cards offer an interest-free period for purchases when you pay the full balance each month.
Introductory offers can include a reduced or $0 annual fee in the first year.
You can cancel a card at any time if you don't want it any more.
Qantas and Velocity offer other ways to earn points with partners – you could even choose to earn points through both programs.
💡 Travel tip: If you're planning to travel with a credit card, keep in mind that most frequent flyer cards charge a 2-3% international transaction fee for overseas spending. You can compare cards with no foreign transaction fees or take cash and debit cards to help save on costs.
How do I find the best frequent flyer credit card for me?
Rates and fees aside, here are the key questions you can ask to choose a frequent flyer credit card.
How many bonus points can I get?
Introductory bonus point offers can give you between 8,000 and 150,000 frequent flyer points on cards for personal spending (as opposed to business frequent flyer cards). You'll have to meet a spend requirement to get them, so make sure to check that before you apply.
For example, if an offer requires you to spend $4,000 in the first 60 days and you aren't sure you'll spend that much, it's worth looking at other offers. Or, planning how you'll meet the spend requirement and manage the repayments.
How many points can I earn for my spending?
Bonus points offer the biggest value on a frequent flyer credit card but the points you earn per $1 spent also add up over time. A card that earns 1 frequent flyer point per $1 (or more) is competitive, but check if there is a cap on how many points you can earn at that rate.
If you get a rewards credit card that offers point transfers, 1 reward point will usually give you between 0.25 and 0.5 frequent flyer points. So a card that offers at least 2 rewards points per $1 is competitive.
Are there extra features?
A lot of frequent flyer credit cards offer travel extras, including complimentary travel insurance, airport lounge passes, travel credit and concierge services.
To get value from them, you actually have to use them. If you won't, you might want to look at a frequent flyer credit card with a lower annual fee and fewer perks instead.
What are my frequent flyer points worth?
The dollar value of your frequent flyer points depends on what rewards you redeem.
In general, flight upgrades and flight rewards give you the best value and offer an average of around 2 cents for every 1 point redeemed. In comparison, gift card rewards typically offer 0.5 cents per point.
A Finder survey found 15 million Australians are missing out on value by redeeming reward points for cashback on shopping – but flight rewards usually give you more bang for your buck.
Example: Value per 1,000 Qantas/Velocity points
These examples give you an idea of the value of your points for a few domestic flights. Keep in mind that the total points needed and value can change based on factors including the fare class, flight sales and carrier charges (which are usually billed separately).
Sydney to Melbourne return (Qantas, Economy)
$347
16,000 Qantas Points
$21.68
Sydney to Melbourne return (Qantas, Business)
$1,108
36,800 Qantas Points
$30.10
Sydney to Melbourne return (Virgin, Economy)
$258
11,800 Velocity Points
$21.86
Sydney to Melbourne return (Virgin, Business)
$718
31,000 Velocity Points
$23.16
These calculations were updated in November 2024 and are based on the point values for Qantas Classic Flight Rewards and Velocity Reward Seats redemptions.
Flight values are based on the standard economy and business class fare prices for Qantas and Virgin Australia flight searches in November 2024, for bookings at least 3 months in advance.
There are dedicated point-chasers that will switch cards every year or two to make the most of bonus point promotions.
This strategy is sometimes known as credit card churning and can suit people who primarily use credit cards to earn points and pay it off as they go. Otherwise, the cost of annual fees, interest and potential credit score impact won't be worth it.
Point hacking and credit card eligibility
Credit card brands frown on churning, and many bonus point offers exclude people who have recently had a card with the same bank or brand. For example, if you had an American Express card, you'd usually need to wait 18 months after cancelling it before you would be eligible for a bonus points offer on another Amex card.
Here, we've outlined the amount of time you'll need to wait to be eligible for a bonus points offer with different providers.
American Express
18
ANZ
12
CommBank
12
NAB
18
Westpac
12
Qantas Money
12
Bankwest
24
HSBC
12
St.George
12
Bank of Melbourne
12
BankSA
12
Note: Citi and Virgin Money don't list a specific timeframe for previous or existing customers.
Some banks apply this exclusion period to each type of rewards card. For example, NAB applies an 18-month exclusion period to NAB Qantas Rewards cards, separate to NAB Rewards cards. And ANZ has a 12-month exclusion period for ANZ Frequent Flyer cards, separate to ANZ Rewards cards.
In these cases, you'd still be eligible for a frequent flyer credit card offer with NAB or ANZ, even if you had a NAB Rewards or ANZ Rewards card.
2025 Finder Credit Card Awards for frequent flyers
Every year the Finder Credit Card Awards recognise Australia's top credit cards, with expert analysis on rates, fees and offers based on 12 months' worth of data. The awards cover categories including balance transfers, travel and frequent flyer rewards – with separate categories for cards that earn Qantas Points and Velocity Points.
The Qantas American Express Ultimate Card won Finder's Qantas frequent flyer credit card award this year. The card gives eligible customers a solid 50,000 bonus Qantas Points on sign up, and adds extra value with its high earn rate and a $450 travel credit that offsets the annual fee.
The Qantas American Express Ultimate Card won Finder's Qantas frequent flyer credit card award this year. The card gives eligible customers a solid 50,000 bonus Qantas Points on sign up, and adds extra value with its high earn rate and a $450 travel credit that offsets the annual fee.
The ANZ Frequent Flyer Black is a really strong offer and is highly commended. It offers a huge amount of bonus Qantas Points (although you won't get them all unless you hold the card for 12 months).
The ANZ Frequent Flyer Black is a really strong offer and is highly commended. It offers a huge amount of bonus Qantas Points (although you won't get them all unless you hold the card for 12 months).
Westpac's Altitude Qantas Black has a slightly lower earn rate than other top cards. But it offers a really high 120,000 bonus Qantas Points and the annual fee is lower than the other winning cards.
Westpac's Altitude Qantas Black has a slightly lower earn rate than other top cards. But it offers a really high 120,000 bonus Qantas Points and the annual fee is lower than the other winning cards.
Westpac's Altitude Velocity Black won this year's Velocity frequent flyer credit card award. You can earn up to 120,000 bonus Velocity Points with this card if you hold it for over a year.
Westpac's Altitude Velocity Black won this year's Velocity frequent flyer credit card award. You can earn up to 120,000 bonus Velocity Points with this card if you hold it for over a year.
The American Express Velocity Platinum Card is highly commended in this award category. It offers new customers a competitive sign up points offer when they spend $3,000 in the first 3 months and has a high earn rate, lounge access and many other benefits.
The American Express Velocity Platinum Card is highly commended in this award category. It offers new customers a competitive sign up points offer when they spend $3,000 in the first 3 months and has a high earn rate, lounge access and many other benefits.
Citi's Premier Card - Velocity Points Offer has a high bonus points offer and an annual fee that's a touch lower than comparable cards. That's why it's highly commended in the Velocity frequent flyer category.
Citi's Premier Card - Velocity Points Offer has a high bonus points offer and an annual fee that's a touch lower than comparable cards. That's why it's highly commended in the Velocity frequent flyer category.
As offers change frequently, these cards might not currently have the most competitive deals but you can use them as a benchmark against current offers.
More about the Frequent Flyer Credit Card Finder Score
9+ Excellent - These cards are your ticket to sky-high points earning potential, hefty welcome bonuses, solid ongoing earn rates, and a premium selection of travel perks.
7+ Great - These cards might have slightly less impressive points earning or sign-up bonuses than the best cards on the market.
5+ Satisfactory - Reliable workhorses for frequent flyers who want decent points earning potential and some mix of perks and benefits.
Less than 5 – Basic - the entry point in the frequent flyer market. Their sign-up bonuses and ongoing earn rates are lower.
The Finder Score is an easy way you can figure out which frequent flyer credit cards are worth the trip, and which ones aren't worth getting out of bed for.
Here's how the score works:
We analyse over 250 credit cards and assess 8 features, giving a score for each one.
Then we combine these scores using a weighted methodology (because some features are more important than others).
This gives us a final score out of 10: the Finder Score.
In the frequent flyer category we only consider credit cards that:
Link to the Qantas Frequent Flyer or Virgin Australia Velocity Frequent Flyer program.
Let you earn points directly based on spending.
Are available to general consumers.
Scores are category-specific. So one credit card could receive a score of 9 in the balance transfer category but a score of 8 in the frequent flyer category.
The Finder Score methodology is designed by our insights and editorial team. Commercial partners carry no weight, and all products are reviewed objectively.
Remember that Finder Score is just one factor to consider. Look at other aspects like fees, features, benefits and risks to make sure a product is suitable for you. Double-check details that matter to you before applying or buying.
Feature
Definition
Assessment
Weight
Earn Rate
Points earned for every dollar spent on eligible purchases
Points awarded per dollar (up to 1.5)
28%
Sign-Up Points
Bonus points earned for signing up and meeting spending requirements
Total bonus points offered (up to 150,000)
25%
Purchase Rate
Interest rate on new purchases
Lower rates receive higher scores (up to 23.99% max)
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.
Sometimes, other credit cards have promotional offers that let you earn status credits. But the most common way to earn status credits – and reach higher frequent flyer membership tiers – is by flying with the program's main airline or a partner.
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.
Keep in mind that 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.
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 they have been added before you cancel your card.
Frequent flyer points usually expire if you don't redeem them, but how long you have to redeem them is different for each program.
With Qantas and Velocity Frequent Flyer, your points won't expire while you're earning or redeeming them to keep the account "active". If you don't earn or redeem points for 18 months with Qantas or 24 months with Velocity, they will expire because of "account inactivity". You can check the conditions for other programs to avoid losing points.
No, frequent flyer points are worth different amounts across programs. At the time of writing, you can redeem a $100 David Jones gift card for 20,010 Qantas Points or 19,500 Velocity Points. So in this example, you'll get slightly more value if you redeemed your Velocity Points for the $100 gift card.
Most frequent flyer credit cards let you add at least 1 additional cardholder to your account. This means they can spend money and earn points through your account, which can help you get frequent flyer rewards faster.
Just keep in mind that you're the only one legally responsible for the credit card – and some cards have additional cardholder fees that are charged each year.
Richard Whitten is Finder’s Senior Money Editor, with over eight years of experience in home loans, property, credit cards and personal finance. His insights appear in top media outlets like Yahoo Finance, Money Magazine, and the Herald Sun, and he frequently offers expert commentary on television and radio, helping Australians navigate mortgages and property ownership. Richard started his career in education and textbook publishing in South Korea. He holds multiple industry certifications, including a Certificate IV in Mortgage Broking (RG 206) and Tier 1 and Tier 2 certifications (RG 146), as well as a Bachelor of Education from the University of Sydney and a Graduate Certificate in Communications from Deakin University.
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