Credit card rewards: Why now could be time to rack up points

Polly Fleeting

Tuesday 16 June 2020

While international travel is still a no-go for Aussies, there’s no reason to give up on credit card rewards points. 

Woman in red hat travelling Australia and racking up rewards points.

Last month, the federal government extended the international travel ban by three months, changing the original end date from June 17 to September 17. However, some restrictions on domestic travel have been lifted, meaning it might be time to start exploring and rack up credit card points while you do it.   

With a rewards credit card, you could receive up to 2 points for every dollar you spend*. 

When you are able to book your next international holiday you could end up with a discounted or even free flight! 

REMEMBER: don’t just spend to get points. Simply, opt to use your rewards credit card on the spending you already intended to do. Also pay down your balance in full each month to avoid paying interest. 

Bonus points offers 

If you’re on the hunt for a new credit card or are looking to make the switch from your current rewards program, a bonus points offer might be the right way to go. 

According to the Mozo database, at the moment there are 65 different credit card bonus points offers ranging from 7,500 to 150,000 points. Each offer has its own set of approval, spending and card holding criteria. 

There are currently three cards that offer 150,000 bonus points, here’s a rundown: 

CardRewards ProgramBonus Points OfferOffer End Date
ANZ Rewards BlackANZ Rewards150,000 ANZ Rewards points if you spend $4,000 on eligible purchases in the first
3 months
 from approval.
Qantas Premier TitaniumQantas Frequent Flyer150,000 bonus Qantas Points if you spend $5,000 on eligible purchases in the first 90 days from approval.24/02/2021
Westpac Altitude BlackAltitude150,000 bonus Altitude Points if you spend $4,000 on eligible purchases in the first 90 days from approval.05/08/202

Remember, the value of points differ from program to program. Similarly, don’t apply for a credit card just for the sake of getting points. Sometimes the cost of interest, annual fees and other charges attached to the card can outweigh the value of the points you receive. 

RELATED ARTICLE: Credit card costing you too much? APRA & RBA say shop around

*According to the rewards credit cards on the Mozo database and excluding special promotions.

Want to check out some more bonus points offers? Take a look at the cards below or jump over to our rewards credit cards comparison table

Find great rewards credit card deals

Which type of rewards credit card would you like to compare?

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