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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

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

Rates last updated September 20th, 2017
Name Product Bonus Points Rewards Points per $ spent (VISA/MC) Rewards Points per $ spent (AMEX) Purchase rate (p.a.) Annual fee Product Description
HSBC Platinum Credit Card
19.99% p.a.
$99 p.a.
Earn 1 Reward Point per $1 of eligible spend and receive complimentary travel and purchase protection insurances.
American Express Velocity Escape Card
20.74% p.a.
$0 p.a.
Earn uncapped Velocity points on purchases and redeem for a range of rewards including flights, accommodation, car hire and gift cards.
American Express Velocity Platinum Card
50,000 bonus points
20.74% p.a.
$375 p.a.
Receive a complimentary Virgin Australia return Economy domestic flight each anniversary year and complimentary travel insurance.
Qantas American Express Discovery Card
20.74% p.a.
$0 p.a.
Take advantage of a promotional balance transfer rate and no annual fee for the life of the card.
American Express Platinum Edge Credit Card
20.74% p.a.
$195 p.a.
Receive a $200 Travel Credit every year and complimentary domestic and international travel insurance.
Bankwest Qantas World Mastercard
20.49% p.a.
$270 p.a.
Earn uncapped Qantas Points per $1 spent on eligible purchases. Also enjoy no foreign transaction fees on online and overseas spend.
Bankwest More World Mastercard
115,000 bonus points
19.99% p.a.
$270 p.a.
Earn 2.5 More Rewards Points per $1 spent and receive complimentary travel insurance.
Woolworths Everyday Platinum Credit Card
19.99% p.a.
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
Receive a $50 eGift Card when you apply by 31 December 2017 and make an eligible purchase by 31 January 2018.
American Express Business Explorer® Credit Card
100,000 bonus points
16.99% p.a.
$395 p.a.
Earn 100,000 bonus points when you meet the requirement and 2 Membership Rewards points per $1 spent.
NAB Rewards Business Signature Card
75,000 bonus points
18.50% p.a.
$175 p.a.
Earn 75,000 bonus points when you spend $4,000 on everyday purchases in the first 60 days of account opening.
American Express Qantas Business Rewards Card
100,000 bonus points
$450 p.a.
Earn up to 2 Qantas Points per $1 spent on eligible purchases and enjoy up to 51 days interest-free on purchases.

Compare up to 4 providers

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.

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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 World MastercardNo cap on eligible purchasesNo average spend
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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.
  • Cash back - 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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Frequently asked questions

That depends on the card, but there are some that offer deals on merchandise like clothing and gifts, or cash back cards that can be used at certain stores.
By using the points to money spent ratio. If you are receiving two points for every dollar spent for example, then using your card to pay for $50 in groceries will equal 100 points.
No, with merchandise rewards cards you can split your points amongst as many items as you want.
No, these are specific to the airline that is outlined in your rewards program.

Shirley Liu

Shirley is finder.com.au's publisher for banking and investments. She has completed a Masters in Commerce (Finance) and is the author of hundreds of articles. She is passionate about helping Aussies make an informed decision, save money and find the best deal for their needs.

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