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Heritage Credits rewards program

Find out when you'll earn Heritage Credits with a credit card or other accounts, plus how to redeem them for rewards.

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Heritage Credits is a rewards program that's available when you have a Heritage Classic Credit Card or Heritage Visa Platinum Credit Card. You can also get access if you hold more than three eligible Heritage Bank products. You'll then earn Heritage Credits that you can redeem for gift cards or retail items, including homeware, jewellery, technology and experiences.

How to earn Heritage Credits

If you have a Heritage Bank rewards card, you’ll earn Heritage Credits on your spending. As the rates vary between cards, we've laid out the key details in a table.

Credit CardEarn rateMembership anniversaries
Heritage Bank Classic1 Heritage Credit for every $1,300 spent on qualifying purchases in a month
  • 2-4 years: 1 Heritage Credit each year on your membership anniversary
  • 5-7 years: 2 Heritage Credits each year on your membership anniversary
  • 8 or more years: 3 Heritage Credits each year on your membership anniversary
Heritage Bank Platinum3 Heritage Credits for every $1,500 spent on qualifying purchases in a month
  • 2-4 years: 1 Heritage Credit each year on your membership anniversary
  • 5-7 years: 2 Heritage Credits each year on your membership anniversary
  • 8 or more years: 3 Heritage Credits each year on your membership anniversary

What counts as a "qualifying purchase"?

Most everyday spending will count towards your qualifying spend on an eligible Heritage Bank credit card. Transactions that don't earn points include cash advances, credit card fees and charges, BPAY payments and utility bills paid over the counter at a financial institution or with Bank@Post.

Other accounts that earn Heritage Credits

If you have products from at least three of the following Heritage banking categories, you'll get membership to the Heritage Credits program:

  • Savings/access accounts
  • Term deposit accounts
  • Credit card accounts
  • Personal loan accounts
  • Home loan accounts
  • Business loan accounts

With this option, you'll mainly earn credits on qualifying membership anniversaries.

Ways to earn more Heritage Credits

As well as earning Heritage Credits for your credit card spending and for membership anniversaries, you can boost your reward balance with the following options:

  • Additional cardholders. Adding an additional cardholder to your account will increase the spending on your card account, which translates into more credits earned. Heritage cards allow additional cardholders at no extra cost.
  • Bonus points. Bonus partners may offer ways to earn additional Heritage Credits, and the program will inform you periodically about these limited promotions. Recent promotions include earning 1 credit for spending over $1,000 per calendar month at RentalRewards.com.au.
  • Promotional credits. You may also be able to earn promotional credits as a result of performing transactions on your Heritage accounts or from using Heritage’s services. The program offers these promotions periodically.

What rewards can you get with Heritage Credits?

When you have earned at least 5 Heritage Credits, you can use them to redeem a variety of rewards. Unfortunately, there is no list of rewards publicly available.

If you're a member you can see the current choice of rewards by logging in to your Heritage Bank account.

To give you a basic idea, some examples of previous reward options include:

  • Gift cards. Redemptions start from around 7 credits upwards, based on the value of the gift card. Participating retailers include Bunnings, David Jones, Myer, JB Hi-Fi and Harvey Norman.
  • Homewares. This could include cheese boards, vacuum cleaners, quilt covers or even bottles of wine.
  • Technology. Options could range from headphones to tablets and e-readers.

How to redeem Heritage Credits for rewards

  1. Log into your online account at heritage.com.au
  2. Click on "Services" then select "Rewarding You". The following page will show your Heritage Credits balance and any current offers.
  3. Browse the available rewards and make your redemption online. Note that shipping charges apply for merchandise redemptions.

If you don't have enough Heritage Credits, you may have the option using a combination of credits and a card payment. The Credits+Pay option isn’t available for all redemptions, and where available the credit card payment component must be greater than $5. The entire redemption process may take up to 28 days.

Other key details of the program:

  • Minimum credits. You must have and use at least 5 Heritage Credits for a reward redemption.
  • Reward options. Reward options vary periodically and are available for a limited time only. You may discover current offers via your online account at any time.
  • Program manager. The program manager will assess all redemption requests and may outline other specific requirements that you need to fulfil to redeem a reward.
  • Limited availability. Rewards are also subject to availability, and your request to redeem a certain quantity of the same redemption item may be limited.
  • Voucher expiry and conditions. If your redemption item is a gift voucher, the voucher will have an expiry date and conditions governed by the issuing store. If you don’t satisfy those conditions or don’t use the voucher before it expires, you will lose these credits.
  • Heritage Credits expiry. Heritage credits expire on 31 December three years after you have earned them. This means any credits you earned in the 2021 calendar year would expire on 31 December 2024.

How to compare Heritage Bank reward cards

If you’re interested in a Heritage Bank credit card that offers membership to this rewards program, make sure you consider the following factors:

  • Earn rate. A card’s earn rate determines the speed at which you earn points and redeem rewards. With the Heritage Platinum credit card, you earn three times as many credits as the Heritage Bank Classic card, but card costs differ.
  • Annual fee. A card’s annual fee represents its biggest administrative cost. Make sure your chosen credit card has benefits that outweigh its costs.
  • Interest rate. Since interest fees represent the other major cost component of a credit card, they are a critical consideration. This is especially important if you tend to carry a balance on your credit card.
  • Interest-free days. Both of these Heritage credit cards offer up to 55 days interest-free on eligible purchases if you pay your balance in full by the due date on each statement. This feature lets you avoid extra charges when you pay with plastic and maximises the value of your rewards.
  • Complimentary extras. These are the extra perks that generally come with rewards credit cards. They include free travel and purchase insurance covers and concierge services, which the Heritage Platinum credit card provides.
  • Other fees and charges. When comparing, you may also wish to consider other fees and charges like the cash advance fee, international transaction fee, ATM fee or late fee.

Heritage Bank credit cards

How to decide if the Heritage Credits program is worth it for you

Getting rewards and perks is nice but there's always a chance that account costs will outweigh the value you get from them. So here's what to think about before you apply for a Heritage Bank credit card or other eligible accounts.

  1. Look at the costs. With a credit card, the annual fee and the interest rate for purchases are the key costs. Ideally, you want an annual fee that is worth less than the value of your rewards. With other Heritage Bank accounts, check for annual or monthly fees, plus other regular charges that might apply.
  2. Ask yourself how much you'll use the card. The main way you earn Heritage Credits is by making qualifying purchases with your credit card. And to get the anniversary credits, you also need to keep your card or other accounts open (and pay any fees). If you don't earn enough credits, the rewards you get won't be worth it compared to the account costs.
  3. Think about whether the rewards will be valuable to you. If you're already a member of Heritage Credits, you'll be able to see different rewards you can get with your credits. If you're not a member, it will be hard to tell the potential value before you apply but you could contact Heritage Bank to find out more – or look at other reward options that offer more details.

The Heritage Credits rewards program could be valuable if you spend a lot on your credit card and can take advantage of opportunities to earn bonus and promotional credits. But remember to compare other card and rewards program options before applying and weigh up costs against benefits before choosing your card.

Images: Shutterstock

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