Bonus point offers that will kickstart your new year

Aussie rewards credit cards may have been given a workout over the silly season, but the new year also affords plastic fanatics the opportunity to earn a sweet deal with some seriously sizeable bonus point offers currently available.

According to the Mozo database and in spite of the declining value of rewards card, bonus point offers have been on the up with the average offering growing from a meagre 16,000 points in 2013 to 36,000 in 2016 and is currently in excess of 57,000.

“There are a bunch of different options available on the market when it comes to rewards credit cards, a lot of which come with an attractive bonus points offer,” said Mozo Director, Kirsty Lamont.

“It is important for Aussies to take into account other aspects of the credit card as well like the annual fee or purchase rate so they’re getting the best possible card for them.”

So if you’re back on the daily grind, dreaming of a new travel destination or some much-needed retail therapy check out a few bonus point offers that will seriously bolster your frequent flyer account in the new year.

But what should you be aware of before signing up for a rewards card with a neat bonus point offer?

What’s a bonus point offer?

Bonus point offers are the sweetener providers use to make their rewards card a little more attractive than the competition’s.

Basically, you’re rewarded for choosing that particular plastic with a lump of rewards points which mean you’re a whole lot closer to a free flight or to some retail rewards.

How many bonus points can I earn?

The amount of bonus points on offer depends on the particular card but the Mozo database includes offers as large as the Citi Prestige card which comes with a whopping 150,000 bonus points.

What do I have to do to redeem the bonus points?

Again, this one depends on the particular plastic you’re looking into but usually you’ll have to spend a set amount within a set time with the general rule of thumb being that the more bonus points on offer, the higher the spend.

For example, taking the Citi Prestige card - you’ll only score the 150,000 points if you spend $3,000 within the first 90 days.

Other ways to boost your points stash in 2018

• Spend with your card’s bonus partners: Most rewards cards will offer bonus points per $1 spent at the provider’s partners - so check the earn rates at different outlets so that you can make the most of your plastic.

• Add joint cardholders: The more money you spend on the card, the bigger your points pile so look into handing out an additional card to a trusted family member or your partner. The good news is you can usually grab an additional card or two without incurring a fee.

• Say goodbye to cash: Last year card payments overtook cash in the Aussie economy or the first time ever, so get on board and whip your plastic out for even the smaller purchases so that you’re racking up points quicker than ever before.

To compare a wider range of rewards credit cards with lucrative bonus point offers head to Mozo’s comparison tool where you can also get a rough idea of how many points you’ll earn over the calendar year, based on your monthly spend.