High Income Frequent Flyer Credit Cards

Discover the benefits of having a frequent flyer credit card with a high income requirement.

A high income frequent flyer credit card is one of the most rewarding types of credit cards. This card usually has high annual fees and so you need to use it more frequently and spend a large amount per year so as to outweigh your annual fee with the value of your redeemed points. The key thing to remember with this type of card is that the value you receive out of it is largely decided by how much you spend on it.

How does a high income frequent flyer credit card work?

A high income frequent flyer credit card works just like a regular frequent flyer card. Once you sign up to the card and frequent flyer program of your choice, your points will automatically be accrued when you spend on eligible transactions and thereafter will appear on your credit card statement.

The period it takes for the points to be shown in your frequent flyer account will depend on the program you've signed up for.

Depending on the card, you can earn points on travel costs and everyday purchases.

HSBC Platinum Qantas Credit Card

Receive up to 60,000 bonus Qantas Points

Offer ends 31 October 2017

Eligibility criteria, terms and conditions, fees and charges apply

HSBC Credit Card Offer

Receive 60,000 bonus Qantas Points when you spend $3,000 in the first three months. Plus, benefit from a complimentary international travel insurance cover.

  • $199 p.a. annual fee.
  • 19.99% p.a. on purchases
  • Cash advance rate of 21.99% p.a.
  • Up to 55 days interest free
  • Minimum income requirement of $40,000 p.a.
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Comparison of high income frequent flyer credit cards

Rates last updated September 24th, 2017
Name Product Bonus Points Rewards Points per $ spent (VISA/MC) Rewards Points per $ spent (AMEX) Purchase rate (p.a.) Annual fee Product Description
American Express Explorer® Credit Card
100,000 bonus points
2
20.74% p.a.
$395 p.a.
Receive a $400 Travel Credit every year and up to two entries per year to the American Express Lounge at Sydney International Airport.
Virgin Australia Velocity High Flyer Card - 80k Bonus Points offer
80,000 bonus points
1
20.74% p.a.
$289 p.a.
Take off sooner with up to 1 Velocity Point per $1 spent and earn up to 80,000 bonus Velocity Points. Plus, complimentary travel insurance.
ANZ Rewards Black Credit Card
75,000 bonus points
2
18.79% p.a.
$0 p.a. annual fee for the first year ($375 p.a. thereafter)
Receive 75,000 bonus points when you spend $2,500 on eligible purchases within the first 3 months and complimentary travel insurance.
Emirates Citi World Mastercard
50,000 bonus points
1
0
20.99% p.a.
$149 p.a. annual fee for the first year ($299 p.a. thereafter)
Earn up to 1.5 Skywards Miles for every $1 spent and indulge in carefully curated local and global experiences.
Citi Qantas Signature Credit Card
50,000 bonus points
0.5
20.99% p.a.
$199 p.a. annual fee for the first year ($395 p.a. thereafter)
Earn from 0.5 Qantas Points per $1 spent on selected purchases and get a 2 airport lounge visits per year.
ANZ Frequent Flyer Black
75,000 bonus points
1
19.99% p.a.
$0 p.a. annual fee for the first year ($425 p.a. thereafter)
Receive 75,000 bonus Qantas Points when you apply online, are approved and spend $2,500 on eligible purchases in the first 3 months.
Qantas American Express Premium Card
30,000 bonus points
1.25
20.74% p.a.
$249 p.a.
Enjoy two complimentary Qantas Club lounge invitations per year, plus the protection of complimentary travel and purchase insurance.

Compare up to 4 providers

How do you compare high income frequent flyer credit cards?

There are different types of high income frequent flyer credit cards and you need to compare before choosing which one to go for. High income credit cards typically have more premium benefits including higher rewards points earnings, complimentary insurances and concierge services. The credit card you choose will determine how you are rewarded and how much you earn for your spending. Choosing the right credit card for you is important to ensure that you can earn as many points as possible and get the most value for your money.

What do I need to know about high income frequent flyer credit cards?

Comparing credit card options involves considering a number of factors. We've narrowed down some of the more important factors you'll need to consider:

  1. Annual fee. High income frequent flyer credit cards have relatively high annual fees and this will reduce the overall value of the rewards you earn. This is why it's important to select a high income frequent flyer credit card that has reasonable balance between the annual fee and the rewards you earn. Different high income frequent flyer credit cards have different earn rates. Some will come with both an American Express and a Visa/Mastercard. You'll earn more points on the American Express but the Visa/Mastercard is more readily acceptable and attracts lower surcharges. Some cards may also give more points per dollar based on the type of transaction.
  2. Frequent flyer program. Every high income frequent flyer credit card has its own program which comes with associated features and benefits. Ensure that the frequent flyer program is with an airline you enjoy flying with, or allows you to use airlines you enjoy through their alliance partners.
  3. Interest rate/interest free days per statement cycle. The interest rate or interest free days will vary in importance when you compare cards depending on how you are planning to use your card. If you'll be paying your balance off in full every month, you'll want a card with enough interest free days. If you struggle to pay your balance each month, you may wish to consider a card with a lower ongoing rate. However, these cards usually have high interest rates and won't reward frequent flyer points when you have a balance.
  4. Points expiry/caps. Before choosing any high income frequent flyer credit card, you should consider the expiration or cap on any points you earn. It will be useless for you to earn points that will expire before you exchange them. Work out how many points you'll earn with your expected spending and ensure your card won't limit the amount of points you'll earn.

What are the advantages and drawbacks of a high income frequent flyer credit card?

Pros

  • Better earn rates. Most high income frequent flyer credit cards have high earn rates because they award points depending on how frequent you make trips or spend using your credit card. This translates to more points, and therefore more rewards if used correctly.
  • Promotional offers. Many card providers with high income frequent flyer credit card programs attract new customers with signup bonus points and additional perks which will increase your total rewards from the get go.
  • Various reward options. Points accumulated from high income frequent flyer credit cards can be redeemed for a wide range of items including air travel, goods and services, airline class upgrade, discounts, VIP access to lounges or priority bookings.
  • Added benefits. Frequent flyer cards with high income requirements are generally platinum or black cards, and this means they come with the usual premium benefits such as complimentary insurance policies, discounts on services, airport lounge passes and more.

Cons

  • High annual fee. Generally, high income frequent flyer credit cards tend to have relatively high annual fees. This means that you have to spend more on using the credit card to outweigh the annual fee with the value of your redeemed points.
  • High interest rates. Many premium cards with high income requirements and frequent flyer programs will come with a high interest rate compared to regular cards.
  • Exclusive. As suggested by the name, high income frequent flyer credit cards are only available to high income earners, restricting the number of cardholders who can take advantage of its benefits.

High income frequent flyer credit cards pose a number of benefits to a certain type of cardholder. If you're a high income earner who regularly spends on their credit card, you can receive rewards as you spend and outweigh the costs of the card with the rewards gained. However, if you're not a high income earner, do not regularly use your credit card or struggle to pay off your balance each month, this card may not be for you. As there are many high income frequent flyer credit cards on the market, it's ideal to compare the available options with your own financial situation to secure the most suitable card for you.

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Frequently Asked Questions

The number and value of your points will depend on a number of factors such as the type of high income frequent flyer credit card program you are signed up for, your tier level on your membership, the kind of airlines and partners your credit card is linked to etc. This means that the number of points per dollar spent and exchange rates are never the same from one card to the next, so be sure to compare this.

There are different types of high income frequent flyer credit cards and the 'greatest' one for you will depend on your financial decision and spending behaviours. Shop around before selecting the type of credit card that suits your needs and abilities most. You should consider such factors as annual fees, earn rates, points expiration and capping and interest rates or interest rate free days before making a choice.

The answer to the first part of this question depends on the card. Some cards are known to allow cardholders to earn points for certain bill payments. In regards to business expenses, personal cards will generally not allow this, although again check with the card provider or look through the Product Disclosure Statement (PDS) to get a definitive answer.

Marc Terrano

A passionate publisher who loves to tell a story. Learning and teaching personal finance is his main lot at finder.com.au. Talk to him to find out more about home loans.

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