Money Hack: Get 80,000 points by doing nothing

Elizabeth Barry 17 May 2017 NEWS

credit card rewards

These are the credit cards that give you reward points without the price tag (for one year, at least).

Credit card reward points are great. Who knew a little bit of plastic could bring so much happiness? But, like all good things in life, credit cards can also bring pain, and they do so in the form of interest rates and annual fees.

But, what if I told you there was a way to enjoy all those sweet, sweet points without the costs that make you cry at night?

The hack

Sign up for a no annual fee credit card that offers bonus rewards points. This way, you can avoid paying the fee that usually comes with rewards credit cards as well as earn a bunch of reward points.

The "no annual fee" feature of the card can be temporary, that is, it's waived for the first year, or it can be a permanent feature. In the first case, you can either choose to keep the card and pay the annual fee in the second year or get rid of the card before the annual fee kicks in. As long as you meet the card's requirements you get the keep the bonus points.

These bonus reward points can be quite lucrative, too. The ANZ Frequent Flyer Black gives you 75,000 bonus Qantas Points when you spend at least $2,500 within 3 months of card approval.

Here is what you need to keep in mind with this hack:

  • You will generally need to meet spend requirements. Such as with the ANZ Frequent Flyer Black, you may need to spend a certain amount within a certain time frame to be eligible for the bonus points. Just make sure to pay your balance back in full to avoid paying interest.
  • "Eligible purchases". The minimum spend criteria usually only applies to "eligible purchases", which generally means most everyday purchases that are goods and services. However, this differs by provider.
  • Check you're eligible for the card. The card may have a lucrative bonus offer available but you might not be eligible for it. Check the eligibility criteria listed on finder.com.au review pages to see if you can apply.
  • Consider other costs. Remember to compare the other costs associated with the card, such as the purchase rate and the revert annual fee if applicable.

Compare credit cards with no annual fees and bonus points

Credit card Points earned per $1 Bonus points Bonus points conditions Annual fee Learn more
NAB Rewards Platinum Card 1 NAB Rewards Points 60,000 Spend $2,500 on eligible purchases within the first 3 months. reverts to $195 p.a. More
ANZ Frequent Flyer Black 1 Qantas Points 75,000 Spend $2,500 on eligible purchases within the first 3 months. reverts to $425 p.a. More
ANZ Frequent Flyer 0.25 Qantas Points 25,000 Spend $2,500 on eligible purchases within the first 3 months. reverts to $95 p.a. More
ANZ Frequent Flyer Platinum 0.75 Qantas Points 65,000 Spend $2,500 on eligible purchases within the first 3 months. reverts to $295 p.a. More
ANZ Rewards Platinum 1.5 ANZ Rewards Points 65,000 Spend $2,500 on eligible purchases within the first 3 months. reverts to $95 p.a. More
ANZ Rewards Black Credit Card 2 ANZ Rewards Points 75,000 Spend $2,500 on eligible purchases within the first 3 months. reverts to $375 p.a. More

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