Rewards Credit Card Comparison: Uncapped Rewards Points Earning

Wouldn’t you like unlimited points earning potential? You can get that and more when you sign up for a rewards credit card with uncapped earning

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Being rewarded with points to use on things you love is like shopping at the sale price every time you use your card. Uncapped points earning makes it even better by allowing you to save up for a rainy day. While some reward cards will limit how many points you can earn each year, an uncapped card will let keep on building your account until a reward comes along that catches your eye.

Compare Uncapped Rewards Credit Cards

Updated February 18th, 2020
Name Product Bonus Points Rewards Program Rewards Points per $ spent Purchase rate (p.a.) Annual fee
American Express Westpac Altitude Platinum Bundle - Qantas
75,000 bonus points
Qantas Frequent Flyer
20.24% p.a. (AMEX)

20.49% p.a. (Visa/MC)
$200 p.a. annual fee for the first year ($249 p.a. thereafter)
Up to 75,000 bonus Qantas Points when you meet the criteria with this dual Mastercard (issued by Westpac) & Amex (issued by Amex).
Qantas American Express Ultimate Card
100,000 bonus points
Qantas Frequent Flyer
20.74% p.a.
$450 p.a.
Get 100,000 bonus Qantas Points, a $450 Qantas Travel Credit and 2 yearly complimentary Qantas Club lounge invitations.
American Express Velocity Platinum Card
50,000 bonus points
Velocity Frequent Flyer
20.74% p.a.
$375 p.a.
Get 50,000 bonus Velocity Points when you spend $3,000 for the first 3 months. Plus, 100 Status Credits and luxury travel perks.
Bank of Melbourne Amplify Platinum
Amplify Rewards
19.74% p.a.
$99 p.a.
Get $400 e-gift gard when you spend $3,000 on eligible purchases within the first 90 days. Plus, complimentary travel insurance.
St.George Amplify Platinum - Online Offer
100,000 bonus points
Amplify Rewards
19.74% p.a.
$99 p.a.
Get 100,000 bonus Amplify Points when you spend $2,000 in the first 90 days. Plus, a balance transfer offer of 0% interest for 22 months.
Westpac Altitude Black
150,000 bonus points
Westpac Altitude Rewards
20.49% p.a.
$250 p.a.
Earn 150,000 bonus Altitude Points when you meet the spend requirement. Plus, 2 yearly Priority Pass lounge invitations.
Bank of Melbourne Amplify Signature
200,000 bonus points
Amplify Rewards
19.74% p.a.
$139 p.a. annual fee for the first year ($279 p.a. thereafter)
Up to 200,000 bonus Amplify Points (130k in the first year & 70k in the second year) when you spend $12k/year for the first 2 years.
Westpac Altitude Black - Velocity
80,000 bonus points
Velocity Frequent Flyer
20.49% p.a.
$300 p.a.
Earn 80,000 bonus Velocity Points when you meet the spend requirement. Plus, complimentary seat upgrades and lounge passes.
American Express Westpac Altitude Platinum Bundle
110,000 bonus points
Westpac Altitude Rewards
20.24% p.a. (AMEX)

20.49% p.a. (Visa/MC)
$150 p.a. annual fee for the first year ($199 p.a. thereafter)
Collect up to 110,000 bonus Altitude Points when you meet T&Cs with Mastercard (issued by Westpac) & Amex (issued by Amex).
American Express Business Explorer Credit Card
100,000 bonus points
Membership Rewards Gateway
16.99% p.a.
$395 p.a.
ABN holders w/ $75,000 revenue. Get 100,000 bonus points. Plus, 2 yearly lounge passes on this business card.

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What are credit cards with uncapped points earning?

A rewards credit card that offers uncapped points allows you to continue earning points no matter how much you spend. Families who need more than one ticket when travelling will benefit from an uncapped frequent flyer rewards card, while being able to hoard your points with a shopper’s rewards card could help in knocking out your holiday shopping without spending a dime. These cards are ideal for Australians who charge large amounts frequently, and want to take full advantage of their spending habits. Businesses can benefit too, especially if they make multiple airline ticket purchases throughout the year.

NOTE: Content hidden until it can be updated to show actual products/programs with no cap.

Which rewards programs offer credit cards with no points cap?

You have a few different rewards cards to compare when deciding on an uncapped rewards credit card. While doing your comparisons, don’t forget to check other features such as monthly fees and accessibility:

  • Virgin Australia Velocity High Flyer Card. Bonus points abound, allowing you to earn up to 100,000 just in the first three months. You can also get an exclusive reduced flight benefit when you and a friend travel across Australia.
  • American Express Platinum Edge Credit Card. Points with this program are divided into four tiers, allowing from 0.5 to 3 points depending on where you are using your card.
  • Coles Rewards Mastercard. Who wouldn’t want an instant $10 off their Coles grocery bill? There are tons of perks besides uncapped rewards with this credit card that make it worth a second look.
  • Woolworths Everyday Platinum Card. Frequent Woolworths’ shoppers will really benefit with an uncapped rewards card that earns cashback in the form of a gift card every four months.
  • Qantas American Express Discovery and Qantas American Express Ultimate Card. New customers can take advantage of sign up bonus points when you apply, get approved and meet the minimum spend criteria. Depending on your income you have the choice of a Discovery card or Ultimate card, both from American Express.

However, you can find credit cards on the market that don’t have a cap on Qantas Points which can be redeemed for similar rewards. The table below compares the ANZ reward program with the Qantas frequent flyer one:

ANZ Frequent FlyerANZ Rewards Credit Card
Annual fee$95$80
Earning points ratio0.5 points per $11 point per $1
$100 Myer Gift Card13,500 points = $13,50019,980 points = $9,990
Dreamworld & WhiteWater World - 1 Day World Pass13,000 points = $13,00016,875 points = $8,437.50
Nigellissima by Nigella Lawson8,000 points = $4,0008,355 points = $4177.50

Even though the ANZ rewards program seems to offer more value, if you’re comfortable with your current credit card that’s linked to a Qantas frequent flyer program or similar, then it may not be worthwhile to switch. Rewards shouldn’t be the only feature when considering to switch credit cards.

What features come with cards with uncapped points earning?

  • Unlimited points - This doesn’t seem like such a big deal until you start adding up all the ways you can earn points. Why have a rewards card if it’s just going to cut you off once you have built up a useable balance?
  • Sign up bonus points - This can really give your rewards points a good starting kick-off. Some providers hand them out just for signing up, while other credit cards will impose spending terms first. This is definitely a point to consider when making your comparisons.
  • Balance transfers - You can save by consolidating your debt with a balance transfer offer at a lower interest rate. You can even find some that give you a year or more to pay down that debt with no added interest.
  • Multiple rewards - There are flight reward cards and shopping reward cards and then there are those that let you choose the rewards program that you will actually benefit from.
  • Traveller’s insurance - Even on a free flight, you should never travel without some insurance. Some of these cards provide traveller’s insurance as a part of their package.

Do capped points make a difference?

Not having to worry about reaching a cap can make a difference if you make frequent purchases with your rewards card and want to take full advantage of every possible point you can earn. If you are unlikely to reach the limit with your normal spending habits, there’s really no reason to concern yourself. As a rule, you should never make purchases on credit for the sole purpose of reaching a promotional goal. A rewards program should award you for your typical expenditures, not encourage you to make purchases you normally wouldn’t.

Credit cardCapApproximate spending
American Express PlatinumNo capNo average spend
St.George Amplify Platinum
No capNo average spend
Commonwealth Bank Awards50,000 points cap$50,000 average spend per year
Westpac Altitude Black MastercardNo cap on eligible purchasesNo average spend

How to compare credit cards with uncapped rewards points

One of the most important things to consider when using a rewards card with no points limit are the rewards. If you hardly ever travel for example, then a frequent flyer rewards program will be of no benefit to you. Once you have found a rewards card that fits in with your lifestyle, compare it to others taking these features under consideration:

  • Credit card provider and rewards program - Besides the rewards program, look at the other features you may be getting with the credit card. Waived fees, ATM accessibility, and low interest balance transfer offers are also important when considering the type of credit card you use.
  • Fees - Fees will vary depending on the provider and the type of rewards card being offered. They can be high, so ensure that the rewards program is one you will benefit from enough to justify paying an annual fee for.
  • Points to earn ratio - With some cards the points to earn ratio is very cut and dry, with a one dollar purchase equaling a point no matter where you use the card. Others are tiered, with more points being given for shopping with the credit card partners. Look at those partners to see if these are purchases you would normally make if you want to take advantage of the higher ratio.
  • Redemption - Being able to track and then redeem your points easily is another point to consider when looking at reward credit cards side by side.

What are the pros and cons of credit cards with uncapped points?


  • Bonus points - In many cases you are not only earning points for spending, you are given bonus points just for signing up.
  • Cashback - With cash or gift card reward programs, you are getting back a percentage of every purchase you make.
  • Diversity - There are uncapped reward programs available to can suit any lifestyle.


  • Overspending - You may find that you are spending on your credit card just to earn the points need to cash in on a reward.
  • Fees - Many of these cards come with high monthly maintenance fees.
  • Interest rate - You might find the interest rate on some of these cards to be slightly higher than with other types.

Using a rewards credit card is not without its risks. If you want to make sure that you are getting the most out of your spending, you will need to weigh the options carefully before making your final choice.

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Credit Cards Comparison

Updated February 18th, 2020
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee
HSBC Platinum Credit Card - Balance Transfer Offer
19.99% p.a.
0% p.a. for 22 months
$129 p.a.
Enjoy a balance transfer offer, yearly annual fee refund, airport lounge passes and complimentary insurance covers.
St.George Vertigo Classic
13.99% p.a.
0% p.a. for 18 months
$55 p.a.
Get 0% interest for up to 18 months on balance transfers with no balance transfer fee. Plus, a low annual fee and purchase rate.
NAB Qantas Rewards Signature Card
19.99% p.a.
0% p.a. for 6 months with 2% balance transfer fee
$295 p.a. annual fee for the first year ($395 p.a. thereafter)
Collect up to 120,000 bonus Qantas Points. Get 90k when you spend $3,000 on eligible purchases in the first 60 days and 30k after 12 months.
Latitude 28° Global Platinum Mastercard
21.99% p.a.
$0 p.a.
Save with 0% foreign transaction fees on purchases. Plus, complimentary flight delay passes and a global wifi access.

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* The credit card offers compared on this page are chosen from a range of credit cards has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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