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Best Rewards Credit Cards

Are rewards credit cards worth it?

Getting rewarded for spending money sounds like an ideal scenario. But will a rewards card really give you bang for your buck? This short guide will take you through the things to think about before signing up for a new rewards credit card.

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6 listings

Qantas American Express Discovery
  • Award Winner 2020

Qantas American Express Discovery

4.3 from 52 reviews
Purchase Rate20.74% p.a.
Annual FeeA$0 p.a.
Interest Free Period 44 days
  • No Annual Fee

  • No Points Earn Cap

  • 0.75 point-per-dollar rate is reasonable for a $0-annual fee card

  • Generally fewer sign-up bonus points compared to other cards

  • Low Interest-Free Period (44 Days)

  • Transparency
    4.4 (37)
  • Customer Service
    4.7 (35)
  • Rates and Fees
    4.3 (36)
  • Rewards
    4.2 (33)
  • Online Experience
    4.4 (34)
  • Application Process
    4.6 (34)
  • BenefitsTravel Credit
  • Minimum Credit Limit A$2,000
  • Maximum Credit Limit A$100,000
  • Minimum Income A$35,000
  • Rewards ProgramQantas Frequent Flyer
  • Points Earn Rate 0.75 points per $1
  • Contactless PaymentsApple Pay, Fitbit Pay, Google Pay and Samsung Pay
Qantas American Express Ultimate

Qantas American Express Ultimate

3.9 from 67 reviews
Purchase Rate20.74% p.a.
Annual FeeA$450 p.a.
Interest Free Period 44 days

Sign-Up Bonus Points55,000

  • Regular Bonus Point Offers

  • High Points Earn Rate

  • Uncapped Annual Points Accrual

  • $450 annual Qantas Travel Credit

  • Two complimentary Qantas Lounge invitations

  • High Annual Fee ($450)

  • 1% Balance Transfer Establishment Fee

  • $65,000 minimum income requirement

  • Reviewers commonly complain that AmEx is not accepted everywhere

  • Transparency
    4.2 (38)
  • Customer Service
    4.5 (40)
  • Rates and Fees
    3.5 (40)
  • Rewards
    4.5 (39)
  • Online Experience
    4.2 (38)
  • Application Process
    4.4 (41)
  • BenefitsComplimentary Travel Insurance, Sign-Up Bonus Points Offer and Travel Credit
  • Minimum Credit Limit A$3,000
  • Minimum Income A$65,000
  • Rewards ProgramQantas Frequent Flyer
  • Points Earn Rate 1.25 points per $1
  • Contactless PaymentsApple Pay, Google Pay and Samsung Pay
American Express Explorer

American Express Explorer

4.2 from 14 reviews
Purchase Rate20.74% p.a.
Annual FeeA$395 p.a.
Interest Free Period 55 days

Sign-Up Bonus Points150,000

  • Up to 150,000 bonus Membership Rewards points on offer

  • $400 Travel Credit each year

  • Two complimentary entries per year to the American Express Lounge at Sydney or Melbourne International Airports

  • Earn up to 2 Membership Rewards points per $1

  • Complimentary Travel Insurance

  • $395 Annual Fee

  • 1% Balance Transfer Fee

  • Transparency
    4.2 (13)
  • Customer Service
    4.6 (12)
  • Rates and Fees
    3.5 (13)
  • Rewards
    4.0 (12)
  • Online Experience
    4.4 (13)
  • Application Process
    4.7 (11)
  • BenefitsComplimentary Travel Insurance, Sign-Up Bonus Points Offer and Travel Credit
  • Minimum Credit Limit A$3,000
  • Minimum Income A$65,000
  • Rewards ProgramAmerican Express Membership Rewards
  • Points Earn Rate 2 points per $1
  • Contactless PaymentsApple Pay, Fitbit Pay, Google Pay and Samsung Pay
American Express Platinum

American Express Platinum

3.0 from 46 reviews
Annual FeeA$1,450 p.a.
Interest Free Period 44 days

Sign-Up Bonus Points200,000

  • Up to 200,000 bonus Membership Points on offer (see Details)

  • No pre-set spending limit

  • Card is made of metal

  • 2.25 Membership Rewards points per $1 spent

  • $1,450 Annual Fee

  • Minimum required income of $100,000

  • Transparency
    3.2 (29)
  • Customer Service
    3.7 (30)
  • Rates and Fees
    2.4 (29)
  • Rewards
    3.1 (26)
  • Online Experience
    3.4 (28)
  • Application Process
    3.8 (24)
  • BenefitsComplimentary Travel Insurance, Sign-Up Bonus Points Offer and Travel Credit
  • Minimum Income A$100,000
  • Rewards ProgramAmerican Express Membership Rewards
  • Points Earn Rate 2.25 points per $1
  • Contactless PaymentsApple Pay, Fitbit Pay, Google Pay and Samsung Pay
American Express Platinum Edge

American Express Platinum Edge

2.6 from 63 reviews
Purchase Rate20.74% p.a.
Annual FeeA$195 p.a.
Interest Free Period 55 days

Sign-Up Bonus Points50,000

  • 50,000 Bonus Membership Rewards points on offer

  • $200 Travel Credit each year

  • Earn up to 3 Membership Rewards Points per $1

  • 0% p.a. on Balance Transfers for the first 12 months

  • Complimentary Travel Insurance

  • $195 Annual Fee

  • 1% Balance Transfer Fee

  • Transparency
    3.5 (10)
  • Customer Service
    3.5 (11)
  • Rates and Fees
    3.0 (11)
  • Rewards
    3.1 (9)
  • Online Experience
    3.7 (11)
  • Application Process
    4.0 (10)
  • BenefitsComplimentary Travel Insurance, Sign-Up Bonus Points Offer and Travel Credit
  • Minimum Credit Limit A$3,000
  • Minimum Income A$50,000
  • Rewards ProgramAmerican Express Membership Rewards
  • Points Earn Rate 3 points per $1
  • Contactless PaymentsApple Pay, Fitbit Pay, Google Pay and Samsung Pay
Virgin Australia Velocity Flyer

Virgin Australia Velocity Flyer

1.9 from 75 reviews
Purchase Rate20.74% p.a.
Annual FeeA$129 p.a.
Interest Free Period 44 days

Sign-Up Bonus Points40,000

  • Multiple Promotional Offers to choose from (see Details below)

  • $129 Virgin Australia Gift Voucher each year

  • Earn Velocity Points at a rate of 0.66 points per $1 spent up to $1,500 per statement period

  • 3.3% International Transaction Fee

  • Earn Rate drops to 0.5 points per $1 spent after the first $1,500 per statement period

  • Transparency
    2.9 (22)
  • Customer Service
    2.8 (22)
  • Rates and Fees
    2.8 (21)
  • Rewards
    3.4 (18)
  • Online Experience
    2.8 (22)
  • Application Process
    3.8 (17)
  • BenefitsComplimentary Travel Insurance, Reduced First Year Annual Fee, Sign-Up Bonus Points Offer and Travel Credit
  • Minimum Credit Limit A$6,000
  • Maximum Credit Limit A$50,000
  • Minimum Income A$35,000
  • Rewards ProgramVelocity Frequent Flyer
  • Points Earn Rate 0.66 points per $1
  • Introductory Rate 0% p.a. for up to 14 months on purchases.
  • Reduced First Year Annual Fee A$65
  • Contactless PaymentsSamsung Pay