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Finder Awards 2020 Best Rewards Credit Card

The Amplify Signature cards offered by St.George, BankSA and Bank of Melbourne feature 200,000 bonus points over the first two years. It also offers an uncapped earn rate of 1.5 points per $1 spent, travel & purchase insurance and lounge passes.


Methodology: Best Rewards Credit Card

Here's how our expert analysts assessed the Best Rewards Credit Card category to pick the 2020 winner.

Selection and scoring

Products were selected from the broader market that met these criteria:

  • Cards must offer a rewards program but NOT direct Qantas or Virgin points
  • Cards must not require loans or specific amounts of savings as eligibility criteria
  • Cards must offer gift card choice – points earned at the standard rate on general purchases must be exchangeable for gift cards in more than one retailer at the same rate

Scores were awarded out of 10 for each product metric, based on how each metric compares to the other products in a given category.

Scores for each metric were then weighted:

  • Annual fee: L-Mix-8-25%, taking into account discounted first-year fees (15%) and second-year fees (10%) if applicable, but not returned fees with a minimum spend
  • Purchase interest rate: 5%
  • Points cap: 5%
  • Sign-up and minimum-spend bonus points: 20%
  • Max international transaction fee: 5%
  • Spend required for $100 voucher: 40% based on the points-per-dollar earn rate for the card on regular spending (or the higher earn rate if the card comes in a bundle) and the number of points required to purchase a $100 gift card in the corresponding reward program

Tiebreakers were ranked by the lowest interest rate

Availability criteria

Product must be available at the time of award announcement.
Products were analysed and compared to the market on the following dates:

  • 1/9/19 (Q1)
  • 1/12/19 (Q2)
  • 29/2/20 (Q3)
  • 32/5/20 (Q4)

Products must have been in the market for at least two of the four quarters, including the most recent quarter.
Quarters were weighted as follows unless otherwise stated (with Q4 being the most recent quarter):

  • Q4: 50% of final score
  • Q3: 25% of final score
  • Q2: 12.5% of final score
  • Q1: 12.5% of final score

For products only available in three quarters, the weighting is as follows:

  • Q4: 50% of final score
  • Q3: 35% of final score
  • Q2: 15% of final score

For products only available in two quarters, the weighting is as follows:

  • Q4: 60% of final score
  • Q3: 40% of final score

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