What’s the point? Millions of Australians overspend to earn reward points
Millions of Australians are overpaying or falling into debt to collect coveted rewards points, according to new research by Finder.
A Finder survey of 452 credit card holders reveals 2 in 5 (41%) struggled to satisfy the minimum spend requirements required to unlock bonus points.
Almost 1 in 6 (16%) had to spend more than usual, while 11% ended up in debt to meet the minimum spend and unlock their bonus points.
That's equivalent to 2.6 million Australians who overpaid or worse, slipped into debt for rewards points.
A concerning 14% failed to satisfy the spend conditions entirely.
Angus Kidman, rewards points expert at Finder, said taking on unnecessary debt in an effort to earn points outweighs potential benefits.
"Rewards programs offer attractive perks, but the moment you're spending more than you can afford or going into debt to get rewards points is the moment you stop saving money and start losing it.
"The lure of free flights or cashback is tempting, but it can be a trap if you don't plan for it.
"If you're not paying attention, your 'rewards' could cost you far more than you bargained for."
Kidman urged cardholders to find out the minimum spend requirements and see if it matches what you spend regularly.
"If that doesn't meet the requirements, time your application for when you're planning a big-ticket purchase like your yearly holiday or new furniture.
"That way you're not spending money you weren't already planning for, but you're getting extra points from it."
The most popular use of both Qantas and Virgin frequent flyer points in the last year was for discounts on everyday expenses such as groceries and fuel (38%).
Kidman said another quick way to diminish the value of your points is to spend them on goods or services with a low redemption value.
"Redeeming your points on these kinds of purchases means you may be paying more in credit card fees to get the points than you're saving from using them. Reward flights offer better value.
"To get the most value from your points when booking a flight, skip point-plus-pay and instead book a Classic Rewards seat on Qantas or Velocity Reward seat on Virgin," Kidman said.
Have you ever had trouble meeting the spending requirements for a credit card bonus point offer?
| Yes, I had to spend more than usual to get the bonus points | 16% |
| Yes, I didn't meet the requirements | 14.00% |
| Yes, I met the requirements but ended up in debt | 11% |
| No, I was prepared to meet the requirements before I applied | 59.00% |
| Source: Finder survey of 452 credit card holders, April 2025 |  |
Methodology
- Finder's Consumer Sentiment Tracker is a monthly recurring nationally representative survey of more than 60,000 respondents.
- Figures in this release are based on 452 credit card holders from April 2025.
- The Consumer Sentiment Tracker is owned by Finder and operated by Qualtrics.
- The survey has been running monthly since May 2019.
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