Australia's Best Rewards Credit Cards of 2015

At Mozo, we're passionate about getting Australians a better deal on their finances and the Experts Choice Awards provide us with a platform to highlight rewards credit card products in the marketplace that we believe offer great value to Australian consumers in 2015.

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Experts choice awards hero 2015

Best Rewards Credit Card

We compared 113 credit cards with rewards programs from 38 providers to find Australia's best value rewards credit card for a person spending $18,000 a year, the average annual spend on a card in Australia according to RBA statistics. Check out the best American Express, Visa and MasterCard rewards credit cards awarded Experts Choice honours in 2015. To compare all rewards cards head to our rewards credit card hub.

American Express
Visa
MasterCard

Best Premium Rewards Credit Card

To highlight the best rewards cards in the market for big spenders, Mozo compared rewards credit cards in our database to find the top performers for a person spending $60,000 a year on their credit card. Here are the premium rewards credit cards awarded Experts Choice Award honours in 2015.

Premium American Express
Premium Visa
Premium MasterCard
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About the Mozo Experts Choice Awards

How many rewards credit cards were compared for the awards?

Mozo assessed 116 rewards credit card products from 37 providers for the Mozo Experts Choice Credit Card Awards.

How objective are the awards? Do credit card providers pay to be included?

Our commercial relationships do not have any influence on the awards. All rewards credit cards in our database are eligible and our research team determines winners for each award according to the criteria of the rewards credit card awards category, providers do not pay to be included.
What is the spending criteria for a premium rewards card?

For the awards, we used a $60,000 annual spend level to determine our premium rewards winners. Your credit card spend could be more or less than this and the cards that offer you the best rewards value could differ from our winners list. To determine the best card for your personalised spend level, use our Rewards Revealer tool.

Are bonus points offers included in the awards calculations?

No, we have not included bonus points accumulated for using the credit card at specific merchants or specific categories of spend, introductory offers or special offers.

We have also not assigned any value to instant discounts, insurances, ticketing
and concierge services or other such benefits.

Retail rewards, why is there a separate category for this?

Our Experts Choice Awards are designed to help you, find the best value rewards card for your needs. We recognise that not everyone wants a rewards credit card for airline or flight rewards. The retail rewards category awards the cards that have the best value for people wanting to use their points for shopping or redeeming points for gift cards.

Who are Mozo’s product experts?
Our research team is headed by our Research & Insights Director and our Product Data Manager who have over 50 years of financial services experience and 21 years in online financial comparison.

Where can I find details on the methodology used for the awards?

You can download our methodology report here. This includes all information about the awards criteria, and the methodology used.

Tips on choosing the best rewards credit card

While the Mozo money experts have compared all rewards cards in our database to determine the best rewards credit cards in the Australian market in 2015 outlined in the tables above, it is important to find a card that is going to best suit your lifestyle and spending habits.

Here are our top questions to ask yourself when choosing a rewards credit card:

#1 Will I pay the balance off in full each month? Rewards credit cards generally have higher interest rates and annual fees than standard credit cards so to get the best value for your spend you need to pay off your balance in full each month. If you don't, it's likely you will pay more in fees and interest than you will receive in rewards value.

#2 What rewards am I interested in? Do you want rewards to shop or are you interested in travel rewards? When choosing a new credit card you want to find a rewards card program that is going to deliver you the best rewards value for the rewards you are interested in. Does it matter that you can get $10 off your shopping at Coles when what you are really interested in is a free flight to New Zealand each year? Find a rewards program that has the best points redemption rates for the rewards you want most.

#3 How much will I spend each year on my card? Generally you will need to spending at least $1500 a month on your credit card to get real rewards value for your spend each year. To find out the best reward credit card for your annual spend, try Mozo's rewards revealer.

#4 How can I earn rewards faster? Every credit card rewards program will have a list bonus partners where you can earn additional points for every dollar you spend with them. You could be surprised to learn you can earn extra points for everyday things like petrol, movie tickets through to accommodation or a day spa visit. Never overspend on your card or bypass a sale just to earn points but by shopping with bonus partners you can redeem rewards faster for less money.

#5 What rewards deliver the best rewards value? Not all points and rewards programs are created equal. One rewards point with 1 card could be worth as much as 2 points on another card. It is also important to look at redemption rates when determining value. For instance, a one way domestic flight on Virgin Australia only requires 6,900 points whereas on Qantas you'll need 8000 points. If you are earning $1 point per dollar spent that means that you'd need to spend an extra $1100 to redeem a flight on Qantas.

#6 What other features should I look for in a rewards credit card? Rewards credit cards often come with other perks, so in addition to a good points earning rate look out for interest free days, free travel insurance, concierge services and extended warranty or price protection insurance.