Mozo's new tool reveals unrewarding credit card schemes

A new tool from financial comparison website has revealed that a large majority of rewards credit card programs are failing to offer people real value.

Launched today (July 26th), Mozo’s Rewards Revealer is the first tool of its kind to take into account a person’s individual spending habits and preferred rewards type (flights, cash back or shopping vouchers) before providing them with ranked results which detail the best and worst rewards credit cards for their situation.

Mozo’s research revealed that there are good and bad reward cards at each spend threshold and that no one credit card is best, suggesting it is vital consumers compare credit cards to find the right option for their personal situation.

Indeed, using the average annual credit card spend of $14,000 (based on RBA data), Mozo’s Rewards Revealer showed that only two of the 76 cards available offer rewards over $100 in net value per year.

Even worse, 15 cards came out negative, with annual fees overriding the rewards value.

"This analysis really highlights that for the average Australian rewards cards just don’t make much sense," said Mozo managing director Rohan Gamble. "Our advice to everyone is to look at their annual spend level and shop around for a card that will deliver real value for them, not the illusion of value."

Mozo’s Rewards Revealer, which can be accessed at, compares 99 rewards cards from banks, credit unions, retailers and airlines and covers all card types including Visa, Mastercard and American Express.

This article is brought to you by Mozo – Helping you compare credit cardsADNFCR-1761-ID-19907313-ADNFCR