Australia’s best rewards credit cards: which is right for you?

Katherine O'Chee

18 Nov 2019

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Love being rewarded for spending? From cashback to free flights and accommodation, rewards credit cards are a great shopping companion for Australian spenders looking for a piece of plastic that offers perks beyond convenience. 

Whether you’re an avid traveller or a points hoarder, it’s safe to say there’s a rewards card for every kind of rewards lover. But finding the right fit for you can be quite a challenge, especially with so many choices in the market.

That’s why a bit of expert help along the way can get you on track to finding the rewards card of your dreams. As a first step, you may like to meet some of the winners of our Mozo Experts Choice Rewards Credit Card Awards. Our expert judges identified the best value products by analysing 208 personal and 25 business credit cards from 71 Australian providers. Here are some top picks worth getting excited over:

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ANZ Rewards Black
  • Multiple 2019 Mozo Experts Choice Award winner^

  • 100,000 bonus Rewards Points and $100 cashback (spending criteria applies)

  • 2 ANZ Rewards Points per $1 spent (up to $5,000, then 1 Rewards Point per $1)

Want to reach rewards goodness faster? The ANZ Rewards Black credit card could be your match, as it comes in strong with ANZ’s highest rewards earn rates. With this card, you’ll earn 2 ANZ Rewards Points per $1 spent on the first $5,000, then 1 ANZ Rewards Point per $1 spent after that. You can redeem those points for all sorts of rewards, including flights, shopping rewards and cashback. What’s more, if you spend $4,000 within the first three months, you’ll earn a huge 100,000 bonus ANZ Points and $100 cashback. The ANZ Rewards Black card also comes with other perks, like complimentary insurance, airport lounge access and unlimited access to the Visa Entertainment program - so it’s no wonder the card snatched up two 2019 Mozo Experts Choice Awards for best Premium Card Benefits and best Velocity Frequent Flyer Platinum Credit Card! Just keep in mind there’s a $375 annual fee.

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ANZ Frequent Flyer Black
  • 2019 Mozo Experts Choice Award winner^

  • 100,000 bonus Qantas Points and $200 cashback (spending criteria applies)

  • 2 Qantas Club Lounge visits every year

If you call the airport your second home, then you’ll love the ANZ Frequent Flyer Black credit card, which took home a 2019 Mozo Experts Choice Award for best Premium Card Benefits. With this card, you’ll earn 1 Qantas Point per $1 spent on the first $7,500 every month, before this reverts to 0.5 Qantas Points per $1 spent. Plus, you’ll get 1 additional Qantas Point for every dollar you spend on selected Qantas products and services in Australia, as well as a bonus 100,000 Qantas Points and $200 back if you make $4,000 in eligible purchases within the first three months. Points aside, ANZ Frequent Flyer Black customers also receive 2 Qantas Club Lounge visits each year and unlimited access to participating airport lounges outside Australia. If you’re new to the Qantas Frequent Flyer program, you’ll even have the $99.50 joining fee waived, just by owning the card! But you will need to budget for a hefty $425 annual fee. 

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American Express Business Explorer Credit Card
  • Multiple 2019 Mozo Experts Choice Award winner^

  • 100,000 bonus Rewards Points + another 50,000 annually (spending criteria applies)

  • 2 Rewards Points per $1 spent (excl. government purchases)

If you run a small business and want a credit card that’ll do more than pay your bills, then the American Express Business Explorer credit card could be right up your alley. This rewards card won two 2019 Mozo Experts Choice Awards for best Rewards Business Credit Card and best Velocity Frequent Flyer Business Credit Card. And it’s no surprise why, as the card comes with a generous earn rate of 2 Rewards Points per $1 spent for all purchases (except those at government bodies where you’ll still earn a decent 1 point per $1 spent). The perks don't stop there - just by applying by 15 January 2020 and spending $3,000 in the first three months after approval, you’ll receive 100,000 bonus points with your American Express Business Explorer card. An additional 50,000 bonus points is up for grabs annually for those who’ve spent $100,000 over the past 12 months. What’s more, this card lets you have an unlimited number of cardholders, without having to pay any fee. But it does come with a $395 annual fee. 

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American Express Velocity Platinum Card
  • 2019 Mozo Experts Choice Award winner^

  • 50,000 bonus Velocity points (spending criteria applies)

  • 1.25 Velocity Points per $1 spent (excl. government purchases)

Building up your points stash is nice and easy with the American Express Velocity Platinum Card, which rewards cardholders with 1.25 Velocity Points per $1 spent on regular purchases and an extra point if you spend that dollar with Virgin Australia (but government purchases will only earn you 0.5 points per $1 spent). These points are uncapped and never expire. And the cherry on top: you can snag 50,000 bonus Velocity Points if you apply online, receive approval and spend $3,000 on your card within the first three months. The American Express Velocity Platinum card also spells luxury, offering fancy perks like a complimentary Virgin Australia return domestic flight every year after the first spend and up to four lounge entries per year. With so many benefits under its belt, there’s little mystery behind why this card took out a 2019 Mozo Experts Choice Award for best Velocity Frequent Flyer Premium Credit Card. Just watch out for its $375 annual fee. 

Looking for cashback, Frequent Flyer points or complimentary travel insurance? To compare even more options and find the right rewards credit card for you, be sure to check out our rewards credit card comparison table. 

^Want to learn more about these winners? Head over to the 2019 Mozo Experts Choice Rewards Credit Cards page. 

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