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Frequent flyer credit cards
You can upgrade your seat, your status and your wallet with a frequent flyer credit card. Compare offers for thousands of bonus points on sign-up.
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The best frequent flyer credit card is different for everyone, so we've looked at different Qantas, Velocity and flexible reward cards to pick out 3 popular offers based on bonus points, points earned per $1 and travel perks.
Bonus Qantas Points Offer - Qantas Premier Platinum
What we like about it:
The Qantas Premier Platinum Credit Card offers up to 80,000 bonus Qantas Points: 60,000 bonus points when you apply as a new cardholder by 01 May 2024 and spend $3,000 on eligible purchases in the first 3 months from card approval and an additional 20,000 bonus points if you haven’t earned Qantas Points with a credit card in the last 12 months. That's enough for a one-way business class flight from Brisbane to Tokyo.
It earns 1 Qantas Point per $1 on eligible spending in Australia, up to $10,000 per statement period (then 0.5 points/$1). And 1.5 points per $1 spent overseas.
You also get 1 additional Qantas Point per $1 on eligible Qantas flights, products and services and up to 20% off selected domestic companion flights once per year.
Other travel benefits include 6 months interest-free on your first eligible Qantas purchase with the card, 2 Qantas Club lounge invitations per year and complimentary travel insurance.
Velocity Points per $1 spent - Amex Velocity Platinum
What we like about it:
The American Express Velocity Platinum Card earns 1.25 Velocity Points per $1 on everyday purchases – the highest direct earn rate currently offered on a Velocity credit card.
You'll also get 1 additional point per $1 for eligible Virgin Australia spending, meaning you can earn up to 2.25 Velocity Points per $1 with this card.
Right now, it offers 100,000 bonus Velocity Points for new Amex card members. That's enough points for a return business class reward flight from Melbourne to the Sunshine Coast (47,000 Velocity Points plus fees and taxes).
Travel benefits include a return domestic flight with Virgin Australia each year, lounge passes, complimentary travel insurance and bonus Velocity Status Credits if you spend $50k in a year.
Flexible reward points - Westpac Altitude Black Credit Card
What we like about it:
The Westpac Altitude Black Credit Card offers up to 150,000 bonus Altitude points:100,000 when you spend $6,000 on eligible purchases in the first 120 days and 50,000 after paying the annual fee in the second year.
Point transfers to Velocity Frequent Flyer, Air New Zealand Airpoints, Singapore Airlines KrisFlyer or Cathay Pacific Asia Miles. As an example, you could transfer 150,000 Altitude Points for 833 Air New Zealand Airpoints Dollars. That's enough for a return business class flight from Sydney to Auckland, depending on when you book, with each Airpoints Dollar equal to AUD$1.
Earns an impressive 6 points per $1 on flights purchased in Australia directly with Qantas, Jetstar, Emirates and Singapore Airlines up to $10,000 per month, then 1.25 points per $1 on eligible spending. It also earns 2 points per $1 at David Jones, Myer, THE ICONIC, Spotify Premium, Uber, Uber Eats and Airbnb and 1.25 points per $1 spent on all other eligible purchases.
Also offers Priority Pass airport lounge access and complimentary international travel insurance.
Annual fee and purchase rate
$150 annual fee for the first year, then $295 p.a. after that
To determine Finder's pick of frequent flyer credit cards, we examine over 250 cards in our database. We narrow it down to cards available through Finder that have introductory bonus points offers for Qantas Frequent Flyer, Velocity Frequent Flyer and rewards programs that allow point transfers. The other key factors we consider are:
The amount of bonus points offered (the more points, the higher the ranking)
In addition to the key factors, we may consider any additional features or introductory offers that are relevant and have the potential to offer further value.
Keep in mind: Our top picks may not always be best for you. Based on your situation, you may find certain features to be more or less important, so compare your options before you apply.
What's the catch? Frequent flyer credit cards offer a lot of value in travel rewards and perks. But most of them have high annual fees and interest rates. If you usually carry a balance or don't spend much with a credit card, the points and perks probably won't outweigh the card costs.
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 8 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 meet a spend requirement in the first few months and 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 and international 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).
Flight
Cost
Qantas Pts
Velocity Pts
Value/1,000 Qantas Pts
Value/1,000 Velocity Pts
Sydney to Melbourne return (Economy)
$299
16,000
15,600
$18.69
$19.17
Sydney to Melbourne return (Business)
$1,117
36,800
31,000
$30.35
$36.02
Sydney to Los Angeles return (Economy)
$2,891
83,800
89,600
$34.49
$32.27
Sydney to Los Angeles return (Business)
$14,675
216,800
191,000
$67.69
$76.83
These calculations were updated on 5 October 2023 and are based on the point values for Qantas Classic Flight Rewards and Velocity Reward Seats redemptions. For Velocity, we used the points values required for a Tier 2 domestic reward flight. For the international flight, we used the Velocity Points required for a reward flight with program partners United Airlines or Virgin Atlantic.
Flight values are based on the average standard economy and business class fare prices for Qantas and Virgin Australia flight searches on 5 October 2023, for bookings at least 3 months in advance. For domestic economy prices, we selected fares that included baggage.
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.
Provider
Exclusion period (months)
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.
2024 Finder Credit Card Awards for frequent flyers
Find out which credit cards have been recognised in this year's frequent flyer awards categories.
The ANZ Frequent Flyer Black Card has been named the Best Frequent Flyer Credit Card – Qantas for the third year in a row. It had big bonus Qantas Points during the analysis period – and a good earn rate, Qantas Club lounge invitations and travel insurance.
The Qantas Premier Platinum and NAB Qantas Rewards Signature Card were finalists in the Qantas credit card category, with both cards scoring highly for bonus point offers during the 12-month period of analysis.
The Virgin Australia Velocity High Flyer won the Finder Award for Best Frequent Flyer Credit Card – Velocity. It had strong scores for bonus point offers, points per $1 spent and annual fee. Other perks include airport lounge passes and a $129 Virgin Australia Flight Voucher.
The Westpac Altitude Velocity Black and American Express Velocity Platinum were finalists in the Velocity credit card category, with bonus point offers and earn rates both key features during the analysis period.
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.
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.
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.
Amy Bradney-George was the senior writer for credit cards at Finder, and editorial lead for Finder Green. She has over 16 years of editorial experience and has been featured in publications including ABC News, Money Magazine and The Sydney Morning Herald.
From transfer rates to bonus point offers, find out how converting credit card rewards to Velocity Points works so you can boost your frequent flyer balance.
Earn KrisFlyer miles on your everyday spending and get introductory bonus points with a credit card linked to the Singapore Airlines frequent flyer program.
Find out if there are any credit card offers that let you earn Qantas Frequent Flyer Status for your eligible spending and learn more about how to reach Silver, Gold or Platinum Qantas status.
From flights and hotel stays to travel packages, gift cards and merchandise, here’s how to make the most of 100,000 Velocity Points based on your lifestyle and goals.
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?
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.
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.
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.
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.
HI
I want to get a credit card to pay all bills and outgoings but want one with all the benefits.
Can you tell me if you earn points when paying utility, rates etc bills? or is just on purchases of products that qualify?
If you are looking for a credit card that lets you earn Frequent Flyer rewards or points when you pay bills, you can check these credit cards. Once you have selected a provider, you can then proceed to choose a credit card they offer that has the features or benefits you are looking for.
You may also want to check our guide about earning frequent flyer points on utilities.
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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?
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
You forgot to mention the Qantas Cash Mastercard. The best!
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
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.
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
Hi, i heard westpac offers 100.000 bonus points for balance transfer than can be used towards qantas frequent flyer. Is that right?
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
HI
I want to get a credit card to pay all bills and outgoings but want one with all the benefits.
Can you tell me if you earn points when paying utility, rates etc bills? or is just on purchases of products that qualify?
Hi Andrea,
Thanks for your question.
If you are looking for a credit card that lets you earn Frequent Flyer rewards or points when you pay bills, you can check these credit cards. Once you have selected a provider, you can then proceed to choose a credit card they offer that has the features or benefits you are looking for.
You may also want to check our guide about earning frequent flyer points on utilities.
Cheers,
Anndy