The 7 best rewards credit cards of 2016 in Australia

By Rebeccah Elley ·

If you've had the same old rewards credit card kicking around in your wallet for some time now, chances are it's not delivering the value it used to. 

While a number of popular rewards cards have had their value slashed in recent months, it's not all doom and gloom for rewards lovers. Switching to one of the top cards on the market will get your rewards earnings back on track.

Here are the Mozo editors' picks of the best rewards cards of the year*:

Best cards for bonus point offers

1. American Express Explorer Credit Card

Key features: 
  • 100,000 bonus points
  • $400 travel credit annually
  • 2 points per $1 spent
  • $395 annual fee
Our verdict: 

This card’s premium benefits more than make up for the steep annual fee, as long as you take advantage of them each year..

Read the full Mozo review

Or go to the American Express website to Apply Now >>

2. ANZ Rewards Black

Key features: 
  • $250 Westfield Gift Card when you spend $2,500 within 60 days of approval
  • 2 points per $1 spent up to the first $5,000 a month (1 point per $1 after)
  • Complimentary features like travel insurance and concierge
  • $375 annual fee

Our verdict:

The ANZ Rewards Black offers ANZ’s highest points earn rates and is best suited to big spending higher income earners who can really take advantage of those points earn rates to offset the annual fee.

Read the full Mozo review

Or go to the ANZ website to Apply Now >>


Best rewards cards with no annual fee

3. American Express Essential Credit Card

Key features:

  • $0 annual fee
  • $50 cash back
  • 1 point per $1 spent
  • Extended warranty and purchase protection

Our verdict:

It’s no surprise this card won the New Product Award in the Mozo Experts Choice Australia’s Best Awards, as it offers excellent value for average spenders.

Read the full Mozo review

Or go to the American Express website to Apply Now >> 

4. American Express Velocity Escape Card

Key features:
  • $0 annual fee
  • 7,500 bonus Velocity points
  • 1 point per $1 spent, 2 points per $1 spent with Virgin Australia
  • Purchase protection
Our verdict: 

For those who like to fly high with Virgin and its partner airlines, this rewards card offers the goods - generous bonus points when you sign up and a bonus point per $1 spent on all Virgin Australia purchases.

Read the full Mozo review

Or go to the American Express website to Apply Now >>

Best Cards for Cash Back Rewards

5. Suncorp Clear Options Platinum

Key features:

  • 0% p.a. for 18 months on balance transfers 
  • 5% cash back on retail purchases for the first 3 months (up to $250 cash back) 
  • 1.25 Suncorp Rewards Points for every $1 spent on Eligible Transactions
  • $169 annual fee

Our verdict: 

A relatively low annual fee and some great freebies make this card an excellent option for travellers who want like the flexibility of earning their rewards as cashback on their card.

Read the full Mozo review

Or go to the Suncorp website to Apply Now >>

Best Cards for Frequent Flyer Points

6. ANZ Frequent Flyer Platinum

Key features:

  • 0.75 points per $1 spent
  • 50,000 bonus points
  • Free travel insurance and concierge
  • $0 annual fee in the first yer ($295 afterwards)

Our verdict: 

Lovers of Qantas Frequent Flyer points will quickly see the value of the card outweigh the annual fee, if they take full advantage of the bonus points and generous earning rates on offer.

Read the full Mozo review

Or go to the ANZ website to Apply Now >>

7. HSBC Platinum Qantas Credit Card

Key features: 

  • 1 Qantas Frequent Flyer point per $1 spent (up to $2,500 per month), then 0.5 points per dollar on Visa
  • 60,000 bonus points
  • Complimentary features like travel insurance, concierge and extended warranty
  • $199 annual fee

Our verdict: 
With a slightly lower annual fee and a whole lot of rewards value, the Platinum Qantas Credit Card is a close contender for those who love racking up Qantas Frequent Flyer points fast.

Read the full Mozo review

That was just a taste of the rewards cards on offer. To compare over 114 deals currently in the market, visit Mozo’s rewards credit card hub today.

*All rates and offers mentioned in this article are correct at time of writing, but may be subject to change. Please check the full Mozo review for each product for the most up-to-date information.