What are the Mozo Experts Choice Awards?
Now in their sixth year, the Mozo Experts Choice Awards provide a platform to highlight products in the marketplace we believe offer great value to Australians.
For the 2019 awards, we analysed 208 personal and 35 business credit card products issued by 71 Australian financial institutions.
“With rewards including free travel, hotel stays, complimentary travel insurance and so much more, it’s little wonder there are so many rewards credit cards to choose from,” said Peter Marshall, Mozo Experts Choice Awards judge.
“Our winners list for 2019 is made up of the credit cards that in our opinion provide the best value for cardholders depending on the rewards benefits you’re after.“
For details on how we crunched the numbers and determined our winners see our 2019 Mozo Experts Choice Awards Credit Card methodology report.
For three years running, American Express has taken out the Credit Card Provider of the Year award. This year they collected wins in both consumer and business cards, in categories ranging from low rate to frequent flyer rewards cards, and everything in between.
Seven different Amex cards were award winners: Low Rate Credit Card, Essential Credit Card, Qantas Discovery Card, Qantas Ultimate Card, Velocity Escape Card, Velocity Platinum Card and Business Explorer Credit Card.
Cards with rewards can be very attractive but how do you find the best fit for you? At Mozo, we take into account the number of points earned for every dollar spent, then calculate the value of some items commonly redeemed for those points. We wrapped it all up with the cost of the annual fee and found that these cards are more rewarding than the rest.
The fees can be larger on a premium rewards card than on a standard card, but so too can the rewards. We ran our calculations to find which platinum, black, and titanium cards give the best rewards bang for your buck, and these came out on top.
Rewards cards that earn Qantas Frequent Flyer points can be great value, particularly for people who travel often and use Qantas services regularly. To find the winners in this category we not only looked at the value of rewards points that can be earned, but also any ongoing discounts including free or discounted flights and lounge access.
To find the best premium Qantas Frequent Flyer rewards cards we assessed the value of points earned on a higher spend level than for the standard category, then assessed the value of any ongoing discounts including free or discounted flights and lounge access.
Many rewards programs allow their rewards points to be converted to Velocity Frequent Flyer points, where they can be used to help pay for flights. To find the winners in this category we not only looked at the value of rewards points that can be earned, and any conversion ratio that may apply, but also any ongoing discounts including free or discounted flights and lounge access.
To find the best premium cards for building a stash of Velocity Frequent Flyer points we not only looked at the value of rewards points that can be earned, and any conversion ratio that may apply, but also any ongoing discounts including free or discounted flights and lounge access
Once again ANZ has taken out the Premium Card Benefits award. This is presented to the card issuer that offers the leading suite of insurances and other card benefits on their platinum or higher tiered cards. Emergency card replacement cost, concierge service and insurances such as international travel, domestic rental car excess cover, and purchase protections are included in the award criteria.
What’s the Judging Criteria for the awards?
Running since 2014, the Mozo Experts Choice Awards recognise products that deliver exceptional value or benefits to consumers.
See our methodology report for more detailed information on how we performed product comparisons and determined the final winners for the credit card awards.
Did you compare all credit cards in the market for these awards?
We aim to include most credit card providers in the market in the Mozo Experts Choice Awards. However, not every credit card product on the market will be included in our review. Any credit card product we review must be available in the market at the time of our analysis. The Premium categories assessed all ‘platinum’, 'diamond' and 'black' credit cards, while the Standard categories considered all other credit cards. Charge cards were not assessed.
How do I choose the best credit card for me?
There is a reason why there are so many different categories of Mozo Experts Choice Awards in Rewards Credit Cards. When you’re looking for a credit card, you’ll want to think carefully about your ability to repay any balance, the card benefits that you’ll use most or get the best value from.
For instance, low rate cards are generally better value if you carry a balance on your card from time to time. If you’re able to pay off your balance in full each month a no annual fee or rewards credit card could be best for you.
If you want to learn more about the key features of rewards credit cards and the types of cards that are available, why not check out our range of helpful credit card guides. To see the latest credit card deals you can visit our credit cards hub.
Who are the Mozo’s experts?
The Mozo Experts Choice Awards analysis is overseen by AJ Duncanson, Mozo’s Data Services Director. AJ is a data scientist and actuary, and has worked in financial services and product comparison for almost three decades. Together with our Product Data Manager, Peter Marshall, the team has over 50 years of financial services experience.
I work for a credit card issuer, how do we promote our win?
Please get in touch with us to discuss by emailing or phoning our account management team on 02 9037 4368.