Best rewards credit cards in Australia

What is a rewards credit card?

Rewards credit cards let you earn points for every dollar you spend. Some cards also offer hundreds of thousands of bonus points if you spend a certain amount after opening the card.

You can get rewards points with a reward program like CommBank Awards, ANZ Rewards or AMEX Membership Rewards. And there are supermarket rewards points like Flybuys and Everyday Rewards that function in a similar way (and you can earn Flybuys with a Coles credit card).

How can I use these points?

You can redeem rewards points in different ways:

• Cashbacks and gift cards
• Hotels, flights and accommodation
• Retail goods like cosmetics, electronics and homewares
• Frequent flyer points (usually at a rate of 2:1 or 3:1).

Some cards offer cashback instead of points. Some cards offer both.

You can redeem the points via your bank or reward program's store (for example, the NAB Rewards Store).

Do you need a rewards credit card?

Rewards credit cards are suited to bigger spenders, frequent flyers and people who shop a lot. You get rewarded because you're spending money. These cards are not budget or entry level credit cards because the rates and annual fees are higher.

Types of credit card rewards in Australia

Credit card rewards can be separated into 3 main categories: rewards points, frequent flyer, and cashback cards.

Rewards points programs

Many rewards credit cards in Australia earn points that you can redeem for different types of rewards, including gift cards, retail items, credit on your account, travel or point transfers to other loyalty programs. These flexible rewards programs include:

Frequent flyer rewards

If you're a member of a frequent flyer program, you can use a credit card to earn more Qantas or Velocity Points or miles in 2 ways:

1. Frequent flyer points per $1 spent

Credit cards that directly partner with a frequent flyer program let you earn frequent flyer points on your spending.

2. Reward point transfers to frequent flyer programs

Some rewards credit cards let you transfer points to different frequent flyer programs. This gives you more flexibility because you're not locked into one program.

It's also a way to earn points with programs that don't have co-branded cards in Australia, including Singapore Airlines KrisFlyer, Cathay Pacific Asia Miles and Emirates Skywards.

But rewards points usually convert to frequent flyer points at a rate of 2:1 or even 3:1. So 100,000 rewards points might only get you 50,000 Qantas Points.

Cashback credit cards

These credit cards give you a way to get cash rewards for your spending, either in the form of credit back on your account or vouchers you can spend.

Some cashback credit cards give you a set percentage of your regular spending as cashback on your account (capped to a max amount), while other cards have introductory offers that provide a one-time account credit or voucher when you meet the spend requirements.

Our expert says: Choose rewards that work for you

"Before you even compare credit cards, why not look at the rewards programs out there? Work out what you actually want. If you specifically want Qantas Points you might be better off with a card that earns Qantas Points directly. But if you're interested in gift cards and retail items, look at the rewards stores for different reward programs and see what's on offer."

Richard Whitten

Senior Money Editor

How to compare rewards credit cards

Here's what you need to look at when comparing rewards credit cards:

1. How can I earn points? How many points will you earn per dollar spent? A bonus points offer can give you a huge amount of value when you get a new card. Some cards have caps on how many points you can earn.
2. What's the value of the rewards? What is 1,000 points actually worth? Every rewards program is different. If you need 12,000 points to get a $50 gift card and your credit card has an earn rate of 1 point per $1 spent. You would need to spend $12,000 before you could redeem the $50 gift card.
3. Are there any complimentary extras? Many cards offer sweet perks, like complimentary international travel insurance, airport lounge access, complimentary flights and travel credits, extended warranty cover and concierge services.
4. What will the card cost me? The annual fee is the biggest reward card cost. Some rewards credit cards offer no annual fee for the first year or ongoing. The value of the rewards you redeem should be higher than the cost of the annual fee to make it worthwhile. Don't forget the card's interest rate either. You can avoid interest charges by paying your balance in full each statement period.

How much do you need to spend to get rewards?

To give you an idea of the potential value of rewards, we've compared the amount of points you need to redeem a $100 gift card through major rewards programs that are linked to credit cards.

Fees, points and redemption values correct as of September 2026.

Based on this table, the minimum spend required for a $100 gift card (or equivalent) is $10,000 with American Express Membership Rewards or Flybuys if your credit card offers 2 points per $1 spent.

How we calculate Rewards Credit Card Finder Scores

Read full methodology

What different scores mean

9+

Excellent

These cards offer the best ongoing earn rates and sign up offers, coupled with attractive annual fees and perks.

7+

Great

Reasonable rewards cards but may offer slightly lower ongoing or signup offers.

5+

Standard

These cards may offer lower ongoing and sign up points, but could also offer fewer perks or higher annual fees.

0+

Basic

Entry level rewards cards, that offer consumers basic sign up offers and ongoing earn rates.

How the Rewards Card Finder Score works

• 9+ Excellent - These cards offer the best ongoing earn rates and sign up offers, coupled with attractive annual fees and perks.
• 7+ Great - Reasonable rewards cards but may offer slightly lower ongoing or signup offers.
• 5+ Satisfactory - These cards may offer lower ongoing and sign up points, and fewer perks, but probably have lower annual fees.
• Less than 5 – Basic - Entry level rewards cards, that offer consumers basic sign up offers and ongoing earn rates.

• The lowdown on how we score

  We analyse 100+ rewards credit cards and look at 6 key features to create our Finder Scores.

  For the rewards card category, points from rewards programs are converted to a dollar value, by determining the number of points required to purchase a grocery store gift card, or a direct dollar value conversion, within the rewards program store.

  To qualify for the rewards score, credit cards must:

  • Offer signup or ongoing rewards points affiliated to a rewards program.
  • Be available to general consumers.

  Our aim is to help your with financial decision-making, but please consider your own financial circumstances. While we may make money from commercial partnerships, they have no weight in our methodology. The database is scored objectively and reviewed by our editorial team.

• Rewards score weightings

  Feature	Definition	Assessment	Weight
  Earn Rate	Points earned for every dollar spent on eligible purchases	Points awarded per dollar. Points are converted to a dollar value	30%
  Sign-Up Points	Bonus points earned for signing up and meeting spending requirements	Total bonus points offered. Points are converted to a dollar value	30%
  Purchase Rate	Interest rate on new purchases	Lower rates receive higher scores (up to 23.99% max)	10%
  Earn Rate cap	Maximum points earned in a billing cycle before a lower earn rate applies	Higher caps or no caps receive higher scores	10%
  First-Year Fee	Fee charged for the first year of card ownership	Lower fees receive higher scores ($0 fee scores highest)	10%
  Ongoing Annual Fee	Fee charged from the second year onwards	Lower fees receive higher scores ($0 fee scores highest)	10%

Frequently asked questions

• What's the biggest credit card bonus point offer on the market?

  Finder's database shows that the American Express Platinum Business has the biggest bonus points offer, with up to 350,000 Membership Rewards Bonus Points when you spend $12,000 in the first 3 months. That's enough for $1,350 worth of travel with Webjet based on details listed on the American Express website.

• Can I earn reward points for BPAY payments?

  It's unlikely but does depend on the rewards program and credit card provider. For example CommBank, Westpac, St.George and Virgin Money all list BPAY payments as ineligible to earn rewards.

  While other credit card issuers (such as ANZ) doesn't specifically list BPAY transactions as ineligible for points, that doesn't mean you will earn points. Or that you'll be able to use a credit card for a BPAY payment. Check the terms and conditions or ask your provider for details specific to your card.

• Which rewards credit cards won a Finder Award in 2026?

  Each year the Finder Credit Card Awards recognises Australia's top credit cards, with expert analysis of rates, fees and offers based on 12 months' worth of data.

  In 2026 the ANZ Rewards Black Credit Card once again took out the top spot in the rewards credit card category with its very compelling offer. The card's high earn rate and hefty bonus points sign-up offer and other benefits made it a strong winner this year.

  The NAB Rewards Signature Card received a highly commended placing in the reward category, as did the Amplify Signature Cards from St.George, Bank of Melbourne and BankSA and the American Express Explorer Credit Card all received highly commended finishes in the rewards category.

• How do I redeem credit card reward points?

  Every rewards program is different, but here's a general guide to the process of redeeming points:

  1. Log into your account
  2. Browse the rewards and choose one you want
  3. Check that you have enough points or can use points plus pay
  4. Confirm the details and follow the prompts to complete your redemption

• Who can apply for a rewards credit card?

  Anyone aged over 18 can apply for a credit card when they meet the bank or lender's eligibility criteria. This typically includes:

  • Minimum income requirement. This can range from $35,000 per year for a basic rewards card to over $100,000 for a premium card. Even when there is no specific minimum income amount listed, your income will need to be enough to manage at least the minimum credit limit, account fees and interest charges.
  • New cardholder status. Many introductory offers require you to be a new cardholder that hasn't held a similar card (or one from the same brand) in the past 12-18 months.
  • Residency status. Some lenders require you to be a citizen or permanent resident, while others allow visa holders and temporary residents to apply as well.
  • Credit history. All credit cards require you to have a good credit history and not be an undischarged bankrupt or have any judgements against you.

  If you're eligible to apply, you'll also be required to provide documents including payslips and proof of identification. The provider will then assess the details you provide to determine whether you'll be approved based on their criteria and responsible lending requirements.

• How can I meet the minimum spend requirements for bonus points?

  With most credit card bonus points offers, you need to spend a certain amount in the first few months or over another period of time. It's important to only spend what you can afford to pay off so you don't end up with interest charges that take value away from the points.

  Here are examples of different ways to meet the minimum spend requirements.

  • Booking travel
  • Buying major household items (e.g. a lounge or fridge)
  • Buying a new laptop, tablet, phone or other tech
  • Pre-paying your health insurance or other bills
  • Paying for car services or repairs
  • Seasonal shopping (e.g. school holidays, Christmas)
  • Paying for everyday expenses (e.g. groceries, fuel, subscriptions)

  Bonus points are typically added to your account within 1-12 weeks of when you meet the spend requirement. But it depends on the offer. You can check the fine print or call the credit card company to find out when points will be added to your account.

• Are rewards credit cards worth it?

  It's worthwhile if you get more value from rewards than what you're paying for the account. This makes rewards cards more suited to people who already use a credit card regularly and/or can repay what they spend each month.

  When comparing your options, ask the following questions:

  • How much is the annual fee? Reward and frequent flyer credit card annual fees can quickly outweigh the value of rewards, even if you're getting thousands of bonus points.
  • What are the potential interest costs? Estimate how much you could end up paying if you carry a balance on the card to decide if the risk is worth it for you. For example, if a credit card had a 19.99% p.a. purchase rate, a minimum spend requirement of $3,000 in 3 months to get bonus points and it took you 6 months to pay that amount off, you'd be charged around $177 in interest.
  • How much are the points worth? Look at the value of the points based on what rewards you want to redeem. For example, if 100,000 bonus points was worth $500 in digital gift cards, that could help justify a card's annual fee. It's worth looking at a few reward options for any card offering bonus points. You can also calculate the dollar value of your points.
  • When do you want to use your points? The time it takes for you to earn enough points for your ideal reward could be a few weeks. But it could be a lot longer if you're saving up points per $1 spent or waiting for a particular reward to become available (especially flight rewards). So it can be helpful to have a timeframe in mind, then work out how many points you'd realistically earn through the card.

• What happens to reward points after a death?

  Depending on the card and rewards program, the points could be transferred to another person, converted into a statement credit or cancelled.

  You can find details for your rewards program by looking at the terms and conditions, or by asking the provider. They should also let you know what options are available when they're notified of someone's death.

To make sure you get accurate and helpful information, this guide has been reviewed by Aaron Christie-David, a member of Finder's Editorial Review Board.

Written by

Richard Whitten

Senior Money Editor

Richard Whitten is Finder’s Senior Money Editor, with over eight years of experience in home loans, property, credit cards and personal finance. His insights appear in top media outlets like Yahoo Finance, Money Magazine, and the Herald Sun, and he frequently offers expert commentary on television and radio, helping Australians navigate mortgages and property ownership. Richard started his career in education and textbook publishing in South Korea. He holds multiple industry certifications, including a Certificate IV in Mortgage Broking (RG 206) and Tier 1 and Tier 2 certifications (RG 146), as well as a Bachelor of Education from the University of Sydney and a Graduate Certificate in Communications from Deakin University. See full bio

Richard's expertise

Richard has written 791 Finder guides across topics including:

• Home loans
• Credit cards
• Personal finance
• Money-saving tips