How to be a rewards credit card power user
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Credit card rewards programs can be a goldmine if you know how to navigate them right. Whether you’re a frequent flyer or a cashback connoisseur, there’s a way to make your credit card work harder for you. Let’s dive into how you can become a power user of credit card rewards programs and get the most bang for your buck!
Choose the right card for your lifestyle
First things first, pick a credit card that aligns with your spending habits and lifestyle. Are you a travel enthusiast? Look for a card that offers travel rewards and perks such as flights or complimentary travel insurance . Prefer cashback or points for everyday purchases? There are credit cards for shopping rewards too.
Check out the winners of the Mozo Expert Choice Awards for Credit Cards 2024 to find top-rated options that could suit your needs. These awards highlight the best in class, whether you’re after low fees, premium perks, or the top rewards program.
Understand how rewards are earned
Each card has different ways of earning rewards. Some offer higher points for specific categories like groceries, dining, or fuel. Make sure you understand how to maximise your points. For example, if your credit card offers double points on dining, use it every time you eat out.
Take advantage of sign-up bonuses
Many credit cards offer generous sign-up bonuses, but they often come with spending requirements. Plan your big purchases around these bonuses to meet the threshold and score those extra points or miles. Just remember, don’t spend more than you can afford to pay off in full each month.
Redeem wisely
Points can be redeemed for a variety of rewards, but not all redemptions offer the same value. Mozo’s winning travel credit cards can help cut down holiday costs with benefits like complimentary travel insurance and zero foreign exchange fees according to Mozo Expert, Peter Marshall. But if travel isn’t in your plans, look for a card that offers good value on cashback, gift cards, or products.
Pay attention to fees
Some of the best rewards cards come with annual fees. Make sure the rewards you earn outweigh the cost of the fee. If you’re not maximising the rewards, it might be worth considering a no annual fee card instead. The Mozo Expert Choice Awards feature several no annual fee cards that still offer competitive rewards.
Stay on top of your spending
It’s easy to get carried away chasing rewards, but always make sure you can pay off your balance in full each month. Carrying a balance can quickly cancel out the benefits of any rewards you earn due to high interest charges. Keep your spending in check and enjoy those rewards guilt-free.
Keep your card active
Some rewards programs require regular activity to keep your points from expiring. Make small purchases occasionally to keep your account active and your points safe. Setting up a small recurring bill to be paid with your rewards credit card is an easy way to ensure you don’t lose your hard-earned points.
Stay informed
Rewards programs can change their terms on occasion, so stay informed about any updates or new opportunities to earn and redeem points. Sign up for provider emails and stay in the loop with MoneyZone for the latest updates on the best credit card deals.
By following these tips, you have the potential to become a master of your credit card rewards program and make your spending work harder for you.
Don’t forget to check out the Mozo Expert Choice Awards for Rewards Credit Cards 2024 to find the top cards that can help you maximise your rewards.
Compare credit cards below
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NAB Low Rate Card - Balance Transfer Offer
Spend with confidence with a low 13.49% p.a. variable purchase rate and 0% p.a. interest on balance transfers for the first 28 months (T&Cs apply). 2% balance transfer fee applies. There’s also up to 55 interest free days on purchases to help you manage your budget better when you make minimum repayments. Minimum credit limit $1,000. No annual fee for the first year (usually $59).
Purchase rate
13.49% p.a.Balance transfer rate
0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)Annual fee
$59 $0 in the first yearRewards program
-CompareCompareLow Rate Card - Balance Transfer Offer
Spend with confidence with a low 13.49% p.a. variable purchase rate and 0% p.a. interest on balance transfers for the first 28 months (T&Cs apply). 2% balance transfer fee applies. There’s also up to 55 interest free days on purchases to help you manage your budget better when you make minimum repayments. Minimum credit limit $1,000. No annual fee for the first year (usually $59).
- Purchase rate
- 13.49% p.a.
- Balance transfer rate
- 0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)
- Annual fee
- $59 $0 in the first year
- Rewards program
- -
- Purchase rate
- 13.49% p.a.
- Intro purchase rate
- -
- Balance transfer rate
- 0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)
- Cash advance
- 21.74% p.a.
- Interest free days on purchases
- 55
- Intro fee
- 0.0
- Foreign exchange margin
- 3.00%
- Annual card fee
- $59 $0 in the first year
- Late payment fee
- $15.00
- Cash advance fee
- 3%, Min $3
Read our Mozo Review to learn more about the NAB Low Rate Card - Balance Transfer Offer
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Apply By 14 Jan 2025
American Express Qantas Ultimate Card
Receive 50,000 bonus Qantas Points when you apply online by 14 January 2025, are approved, and spend $3,000 on eligible purchases on your new Qantas American Express Ultimate Card within the first 3 months of your approval date. T&Cs apply. Available for new American Express Card Members only.
Purchase rate
23.99% p.a.Balance transfer rate
No current offerAnnual fee
$450Rewards program
Qantas Frequent FlyerCompareCompareQantas Ultimate Card
Receive 50,000 bonus Qantas Points when you apply online by 14 January 2025, are approved, and spend $3,000 on eligible purchases on your new Qantas American Express Ultimate Card within the first 3 months of your approval date. T&Cs apply. Available for new American Express Card Members only.
- Purchase rate
- 23.99% p.a.
- Balance transfer rate
- No current offer
- Annual fee
- $450
- Rewards program
- Qantas Frequent Flyer
- Purchase rate
- 23.99% p.a.
- Intro purchase rate
- -
- Balance transfer rate
- No current offer
- Cash advance
- -
- Interest free days on purchases
- 44
- Intro fee
- -
- Foreign exchange margin
- 3.00%
- Annual card fee
- $450
- Late payment fee
- $30.00
- Cash advance fee
- 2%, min $2.50
Read our Mozo Review to learn more about the American Express Qantas Ultimate Card
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American Express Essential® Rewards Credit Card
Earn up to 80,000 Membership Rewards® points* In your first 120 days when you apply by 17 September 2024 and are approved for The American Express Essential® Rewards Credit Card. Earn 20,000 Membership Rewards points for each 30 day period in which you spend $1,000 on eligible purchases on your Card for the first 120 days.*T&Cs apply. New American Express Card Members only.
Purchase rate
23.99% p.a.Balance transfer rate
No current offerAnnual fee
$108Rewards program
Membership RewardsCompareCompareEssential® Rewards Credit Card
Earn up to 80,000 Membership Rewards® points* In your first 120 days when you apply by 17 September 2024 and are approved for The American Express Essential® Rewards Credit Card. Earn 20,000 Membership Rewards points for each 30 day period in which you spend $1,000 on eligible purchases on your Card for the first 120 days.*T&Cs apply. New American Express Card Members only.
- Purchase rate
- 23.99% p.a.
- Balance transfer rate
- No current offer
- Annual fee
- $108
- Rewards program
- Membership Rewards
- Purchase rate
- 23.99% p.a.
- Intro purchase rate
- -
- Balance transfer rate
- No current offer
- Cash advance
- -
- Interest free days on purchases
- 55
- Intro fee
- -
- Foreign exchange margin
- 3.00%
- Annual card fee
- $108
- Late payment fee
- $30.00
- Cash advance fee
- not available
Read our Mozo Review to learn more about the American Express Essential® Rewards Credit Card
-
American Express Platinum Edge Credit Card
Enjoy $0 Annual Card Fee (usually $195) in the first year when you apply online and are approved. T&Cs apply. New Card Members only. Offer subject to change without notice.
Purchase rate
23.99% p.a.Balance transfer rate
No current offerAnnual fee
$195 $0 in the first yearRewards program
Membership RewardsCompareComparePlatinum Edge Credit Card
Enjoy $0 Annual Card Fee (usually $195) in the first year when you apply online and are approved. T&Cs apply. New Card Members only. Offer subject to change without notice.
- Purchase rate
- 23.99% p.a.
- Balance transfer rate
- No current offer
- Annual fee
- $195 $0 in the first year
- Rewards program
- Membership Rewards
- Purchase rate
- 23.99% p.a.
- Intro purchase rate
- -
- Balance transfer rate
- No current offer
- Cash advance
- -
- Interest free days on purchases
- 55
- Intro fee
- 0.0
- Foreign exchange margin
- 3.00%
- Annual card fee
- $195 $0 in the first year
- Late payment fee
- $30.00
- Cash advance fee
- 2%, min $2.50
Read our Mozo Review to learn more about the American Express Platinum Edge Credit Card
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American Express Explorer® Credit Card
Receive 100,000 Membership Rewards® Bonus Points* when you apply online through the link on this page by 3 October 2024, are approved and spend $4,000 on eligible purchases on your new American Express Explorer® Credit Card within the first 3 months. T&Cs apply. New American Express Card Members only*
Purchase rate
23.99% p.a.Balance transfer rate
No current offerAnnual fee
$395Rewards program
Membership RewardsCompareCompareExplorer® Credit Card
Receive 100,000 Membership Rewards® Bonus Points* when you apply online through the link on this page by 3 October 2024, are approved and spend $4,000 on eligible purchases on your new American Express Explorer® Credit Card within the first 3 months. T&Cs apply. New American Express Card Members only*
- Purchase rate
- 23.99% p.a.
- Balance transfer rate
- No current offer
- Annual fee
- $395
- Rewards program
- Membership Rewards
- Purchase rate
- 23.99% p.a.
- Intro purchase rate
- -
- Balance transfer rate
- No current offer
- Cash advance
- -
- Interest free days on purchases
- 55
- Intro fee
- -
- Foreign exchange margin
- 3.00%
- Annual card fee
- $395
- Late payment fee
- $30.00
- Cash advance fee
- 2%, min $2.50
Read our Mozo Review to learn more about the American Express Explorer® Credit Card
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^See information about the Mozo Experts Choice Credit Card Awards
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