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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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74 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)
  • Rewards
    4.2 (33)
  • Online Experience
    4.4 (34)
  • Customer Service
    4.7 (35)
  • Rates and Fees
    4.3 (36)
  • 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
Latitude Infinity Rewards Visa

Latitude Infinity Rewards Visa

4.2 from 54 reviews
Purchase Rate20.69% p.a.
Annual FeeA$69 p.a.
Interest Free Period 55 days
  • Earn 1 Latitude Infinity Rewards Point per $1 spent, uncapped

  • 3% International Transaction Fees

  • $0.95 BPAY Fee

  • Transparency
    4.2 (44)
  • Rewards
    4.3 (37)
  • Online Experience
    3.9 (44)
  • Customer Service
    4.1 (49)
  • Rates and Fees
    4.0 (45)
  • Application Process
    4.3 (31)
  • Rewards ProgramLatitude Infinity Rewards
  • Points Earn Rate 1 points per $1
  • Contactless PaymentsApple Pay, Fitbit Pay, Garmin Pay, Google Pay and Samsung Pay
Qantas American Express Ultimate

Qantas American Express Ultimate

4.0 from 66 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
    4.3 (37)
  • Rewards
    4.6 (38)
  • Online Experience
    4.3 (37)
  • Customer Service
    4.5 (39)
  • Rates and Fees
    3.6 (39)
  • Application Process
    4.4 (40)
  • 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
  • Sign-Up Bonus Receive 55,000 bonus Qantas Points when you apply online, are approved and spend $3,000 within the first 3 months.
Commonwealth Bank Awards

Commonwealth Bank Awards

3.5 from 84 reviews
Purchase Rate20.24% p.a.
Annual FeeA$59 p.a.
Interest Free Period 55 days
  • Entry-level credit limit of $500 minimum

  • Can earn either Commbank Awards points or Qantas Frequent Flyer points

  • Low $59 Annual Fee

  • High Balance Transfer Rate (5.99%)

  • Awards points earn rate capped at 50,000 per annum

  • Qantas points earn rate capped at 12,000 per annum

  • Switching to Qantas points program incurs an additional $30 annual fee

  • Transparency
    4.1 (49)
  • Rewards
    4.1 (37)
  • Online Experience
    4.4 (48)
  • Customer Service
    4.3 (49)
  • Rates and Fees
    3.6 (49)
  • Application Process
    4.2 (39)
  • Minimum Credit Limit A$500
  • Rewards ProgramCommBank Awards and Qantas Frequent Flyer
  • Points Earn Rate 1 points per $1
  • Contactless PaymentsApple Pay, Fitbit Pay, Garmin Pay, Google Pay and Samsung Pay
Coles No Annual Fee MasterCard

Coles No Annual Fee MasterCard

3.2 from 164 reviews
Purchase Rate19.99% p.a.
Annual FeeA$0 p.a.
Interest Free Period 55 days
  • No annual fee

  • 0% p.a. balance transfers for 18 months when you apply by 31 August 2020

  • $10 off Coles supermarket shop at the checkout each time you redeem 2,000 flybuys points

  • Low flybuys points earn rate of 1 Flybuy Point per $2

  • 2.5% International Transaction Fee

  • Relatively high 19.99% interest rate

  • Reviewers mention poor customer service should an issue arise

  • Transparency
    3.8 (101)
  • Rewards
    3.9 (85)
  • Online Experience
    3.7 (99)
  • Customer Service
    3.7 (102)
  • Rates and Fees
    4.2 (100)
  • Application Process
    4.2 (87)
  • Minimum Credit Limit A$2,000
  • Maximum Credit Limit A$60,000
  • Minimum Income A$25,000
  • Rewards Programflybuys
  • Points Earn Rate 0.5 points per $1
  • Contactless PaymentsApple Pay and Samsung Pay
Coles Rewards Mastercard

Coles Rewards Mastercard

3.2 from 116 reviews
Purchase Rate19.99% p.a.
Annual FeeA$99 p.a.
Interest Free Period 55 days
  • Earn 2 flybuys Points per $1 on eligible spend

  • $10 off Coles supermarket shop at the checkout each time you redeem 2,000 flybuys points

  • 0% p.a. on balance transfers for 18 months

  • Relatively high $99 Annual Fee

  • $30 Late Payment Fee

  • Transparency
    3.5 (95)
  • Rewards
    4.1 (81)
  • Online Experience
    3.5 (91)
  • Customer Service
    3.3 (99)
  • Rates and Fees
    3.5 (93)
  • Application Process
    3.7 (84)
  • Minimum Credit Limit A$2,000
  • Rewards Programflybuys
  • Points Earn Rate 2 points per $1
  • Contactless PaymentsApple Pay and Samsung Pay
Commonwealth Bank Diamond Awards

Commonwealth Bank Diamond Awards

3.5 from 41 reviews
Purchase Rate20.24% p.a.
Annual FeeA$349 p.a.
Interest Free Period 55 days

Sign-Up Bonus Points100,000

  • 100,000 Bonus Points on offer

  • Earn 1.25 Awards Points per $1

  • International Travel Insurance included

  • Cashback offers with Mastercard Travelers Rewards

  • $349 Annual Fee

  • 3% International Transaction Fee

  • Minimum Credit Limit of $15,000

  • Transparency
    4.0 (28)
  • Rewards
    3.4 (27)
  • Online Experience
    4.3 (29)
  • Customer Service
    4.3 (30)
  • Rates and Fees
    3.2 (30)
  • Application Process
    4.1 (23)
  • BenefitsComplimentary Travel Insurance and Sign-Up Bonus Points Offer
  • Minimum Credit Limit A$15,000
  • Maximum Credit Limit A$50,000
  • Rewards ProgramCommBank Awards
  • Points Earn Rate 1.25 points per $1
  • Contactless PaymentsApple Pay, Fitbit Pay, Garmin Pay, Google Pay and Samsung Pay
  • Sign-Up Bonus Receive 100,000 Bonus Points when you apply by 28 Oct 2020 and spend $5,000 within 90 days from activation.
GO MasterCard

GO MasterCard

2.9 from 1,027 reviews
Purchase Rate22.74% p.a.
Annual FeeA$0 p.a.
Interest Free Period 55 days
  • 0% interest for a set period (min. $300 purchases)

  • Three repayment options to choose from

  • $5.95 Monthly Fee

  • $25 Establishment Fee

  • High rate once the interest-free period ends (22.74%)

  • 3% International Transaction Fee

  • Transparency
    3.6 (550)
  • Rewards
    2.8 (206)
  • Online Experience
    3.6 (506)
  • Customer Service
    3.6 (568)
  • Rates and Fees
    3.3 (559)
  • Application Process
    4.0 (483)
  • Minimum Credit Limit A$1,000
  • Maximum Credit Limit A$25,000
  • Rewards ProgramGO Rewards
  • Points Earn Rate 1 points per $1
  • Contactless PaymentsApple Pay, Fitbit Pay, Garmin Pay, Google Pay and Samsung Pay
Westpac Altitude Black

Westpac Altitude Black · includes 6 listings

3.0 from 73 reviews
Purchase Rate20.24 to 20.49% p.a.
Annual FeeA$199 p.a., A$250 p.a. and A$300 p.a.
Interest Free Period At least 44 days

Sign-Up Bonus Points90,000 to 150,000

  • Uncapped points earning

  • Lounge passes and travel insurance included

  • Annual fee is not inclusive of Velocity or QFF membership fee

  • $75,000 minimum income required

  • Transparency
    3.9 (40)
  • Rewards
    4.0 (41)
  • Online Experience
    3.7 (42)
  • Customer Service
    3.8 (43)
  • Rates and Fees
    3.0 (43)
  • Application Process
    3.7 (39)
  • BenefitsComplimentary Travel Insurance and Sign-Up Bonus Points Offer
  • Minimum Credit Limit A$3,000 to A$15,000
  • Maximum Credit Limit A$75,000
  • Minimum Income A$75,000
  • Rewards ProgramQantas Frequent Flyer, Velocity Frequent Flyer and Westpac Altitude Rewards
  • Points Earn Rate 0.75 to 3 points per $1
  • Contactless PaymentsApple Pay, Fitbit Pay, Garmin Pay, Google Pay and Samsung Pay
Westpac Altitude Platinum

Westpac Altitude Platinum · includes 8 listings

3.3 from 41 reviews
Purchase Rate20.24 to 20.49% p.a.
Annual FeeA$49 p.a., A$150 p.a. and A$200 p.a.
Interest Free Period At least 44 days

Sign-Up Bonus Points15,000 to 80,000

  • Uncapped points earn rate

  • Complimentary Insurance covers, including Overseas Travel, Purchase Security and Transit Accident Insurance

  • $150 Annual Fee (additional $50 if you choose Velocity or Qantas)

  • 3% Foreign Transaction Fee

  • Transparency
    3.9 (19)
  • Rewards
    3.8 (16)
  • Online Experience
    3.6 (19)
  • Customer Service
    3.9 (18)
  • Rates and Fees
    3.2 (20)
  • Application Process
    4.1 (18)
  • BenefitsComplimentary Travel Insurance and Sign-Up Bonus Points Offer
  • Minimum Credit Limit A$3,000 to A$6,000
  • Rewards ProgramQantas Frequent Flyer, Velocity Frequent Flyer and Westpac Altitude Rewards
  • Points Earn Rate 0.5 to 2 points per $1
  • Contactless PaymentsFitbit Pay, Garmin 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 Points50,000

  • $400 Travel Credit each year

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

  • 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)
  • Rewards
    4.0 (12)
  • Online Experience
    4.4 (13)
  • Customer Service
    4.6 (12)
  • Rates and Fees
    3.5 (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
  • Sign-Up Bonus Receive 50,000 Membership Rewards Bonus Points when you spend $3,000 within the first 3 months.
American Express Platinum

American Express Platinum

3.1 from 44 reviews
Purchase Rate
Annual FeeA$1,450 p.a.
Interest Free Period 44 days

Sign-Up Bonus Points80,000

  • 80,000 bonus Membership Points if you spend $3,000 in the first 3 months

  • 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
    3.4 (27)
  • Rewards
    3.3 (24)
  • Online Experience
    3.5 (26)
  • Customer Service
    3.7 (28)
  • Rates and Fees
    2.5 (27)
  • Application Process
    3.8 (23)
  • 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
  • Sign-Up Bonus Receive a welcome bonus of 80,000 Membership Rewards points when you spend $3,000 in the first 3 months.
Woolworths Everyday Platinum

Woolworths Everyday Platinum

2.6 from 370 reviews
Purchase Rate19.99% p.a.
Annual FeeA$49 p.a.
Interest Free Period 55 days
  • $10 off at Woolworths for 2,000 points (min. $667 spend)

  • 10% off one shop at Woolworths each month

  • Regular promotions to waive the annual fee for the first year

  • Points earned are not the same as regular Woolworths Rewards points

  • Points cannot be converted to Qantas Frequent Flyer points

  • Transparency
    3.8 (61)
  • Rewards
    3.9 (51)
  • Online Experience
    3.8 (59)
  • Customer Service
    3.6 (64)
  • Rates and Fees
    3.6 (64)
  • Application Process
    3.8 (58)
  • BenefitsReduced First Year Annual Fee
  • Minimum Credit Limit A$6,000
  • Minimum Income A$30,000
  • Points Earn Rate 3 points per $1
  • Contactless PaymentsApple Pay
  • Reduced First Year Annual Fee A$0
St. George Amplify Signature

St. George Amplify Signature · includes 2 listings

3.8 from 17 reviews
Purchase Rate19.74% p.a.
Annual FeeA$279 p.a.
Interest Free Period At least 55 days

Sign-Up Bonus Points80,000 to 200,000

  • 200,000 Bonus Amplify Points or 90,000 Bonus Qantas Points on offer

  • Earn 1.5 Amplify Points or 0.75 Qantas Points for each dollar spent on eligible purchases, uncapped. Plus, receive Birthday Bonus Points

  • 0% pa. on Balance Transfers for 6 months

  • Complimentary Insurance Covers and 2 Lounge Passes each year

  • $139 Annual Card Fee for the first year ($279 thereafter)

  • 3% Overseas Transaction Fee

  • Balance Transfer Rate reverts to high Cash Advance Rate of 19.74% after the first 6 months

  • Transparency
    4.4 (14)
  • Rewards
    4.7 (11)
  • Online Experience
    4.3 (14)
  • Customer Service
    4.5 (14)
  • Rates and Fees
    3.9 (14)
  • Application Process
    4.4 (15)
  • BenefitsReduced First Year Annual Fee and Sign-Up Bonus Points Offer
  • Minimum Credit Limit A$15,000
  • Rewards ProgramAmplify Rewards and Qantas Frequent Flyer
  • Points Earn Rate 0.75 to 1.5 points per $1
  • Contactless PaymentsGoogle Pay and Samsung Pay
  • Reduced First Year Annual Fee A$139
David Jones American Express

David Jones American Express

2.7 from 67 reviews
Purchase Rate20.74% p.a.
Annual FeeA$99 p.a.
Interest Free Period 44 days

Sign-Up Bonus Points15,000

  • 15,000 Reward Points or 7,500 Qantas Points on offer

  • Earn up to 3 Reward Points or 1.5 Qantas Points per dollar (1 Reward Point = 0.5 Qantas Points)

  • 3% Currency Conversion Fee

  • $99 Annual Fee

  • Transparency
    3.4 (20)
  • Rewards
    3.3 (22)
  • Online Experience
    3.4 (21)
  • Customer Service
    3.4 (21)
  • Rates and Fees
    2.9 (22)
  • Application Process
    3.7 (21)
  • BenefitsSign-Up Bonus Points Offer
  • Minimum Credit Limit A$2,000
  • Minimum Income A$40,000
  • Rewards ProgramAmerican Express Membership Rewards and Qantas Frequent Flyer
  • Points Earn Rate 3 points per $1
  • Contactless PaymentsApple Pay, Google Pay and Samsung Pay
  • Sign-Up Bonus Receive 15,000 Membership Reward points or 7,500 Qantas Points when you apply online, are approved, and spend $750 outside David Jones in the first three months of becoming a Card Member.
ANZ Rewards

ANZ Rewards

2.8 from 54 reviews
Purchase Rate20.24% p.a.
Annual FeeA$80 p.a.
Interest Free Period 44 days

Sign-Up Bonus Points50,000

  • 50,000 Bonus Reward Points when you spend $1,000 on eligible purchases in the first 3 months from approval

  • 1 Reward Point per $1 spent on eligible purchases up to $1,000 per statement period

  • Up to 55 interest free days on purchases

  • 3% Overseas Transaction Fee

  • Lower earn rate of 0.5 Reward Points per $1 after the first $1,000 per statement period

  • Transparency
    3.9 (21)
  • Rewards
    4.2 (18)
  • Online Experience
    3.9 (20)
  • Customer Service
    3.9 (20)
  • Rates and Fees
    3.1 (21)
  • Application Process
    4.0 (16)
  • BenefitsSign-Up Bonus Points Offer
  • Minimum Credit Limit A$1,000
  • Minimum Income A$15,000
  • Rewards ProgramANZ Rewards
  • Points Earn Rate 1 points per $1
  • Contactless PaymentsApple Pay, Garmin Pay, Google Pay and Samsung Pay
  • Sign-Up Bonus 50,000 bonus Reward Points when you spend $1,000 on eligible purchases in the first 3 months from approval.
Commonwealth Bank Platinum Awards

Commonwealth Bank Platinum Awards

3.0 from 34 reviews
Purchase Rate20.24% p.a.
Annual FeeA$249 p.a.
Interest Free Period 55 days

Sign-Up Bonus Points80,000

  • 80,000 Bonus Awards Points when you apply by 28 October 2020 and spend $4,000 on eligible purchases within 90 days from activation.

  • Earn 1 Awards point for every $1 spent

  • International Travel Insurance included

  • $249 Annual Fee

  • 3% International Transaction Fee

  • Points are capped at 150,000 points per year

  • Transparency
    3.7 (21)
  • Rewards
    2.8 (17)
  • Online Experience
    4.0 (21)
  • Customer Service
    4.0 (21)
  • Rates and Fees
    2.8 (21)
  • Application Process
    4.0 (15)
  • BenefitsComplimentary Travel Insurance and Sign-Up Bonus Points Offer
  • Minimum Credit Limit A$6,000
  • Maximum Credit Limit A$50,000
  • Minimum Income A$50,000
  • Rewards ProgramCommBank Awards
  • Points Earn Rate 1 points per $1
  • Contactless PaymentsApple Pay, Fitbit Pay, Garmin Pay, Google Pay and Samsung Pay
  • Sign-Up Bonus Receive 80,000 Bonus Awards Points when you apply by 28 October 2020 and spend $4,000 within 90 days.
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
  • $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

  • Add up to 4 Cards at no additional cost

  • $195 Annual Fee

  • 1% Balance Transfer Fee

  • Transparency
    3.5 (10)
  • Rewards
    3.1 (9)
  • Online Experience
    3.7 (11)
  • Customer Service
    3.5 (11)
  • Rates and Fees
    3.0 (11)
  • Application Process
    4.0 (10)
  • BenefitsComplimentary Travel Insurance 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
American Express Essential

American Express Essential

2.5 from 115 reviews
Purchase Rate14.99% p.a.
Annual FeeA$0 p.a.
Interest Free Period 55 days
  • $0 Annual Fee & Low Interest Rate of 14.99% p.a. on purchases

  • Earn up to 1.25 Membership Rewards Points per $1

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

  • Smartphone Screen Insurance

  • Add up to 4 Additional Cards at no extra cost

  • 3% Balance Transfer Fee

  • 3% Currency Conversion Fee

  • Transparency
    3.6 (50)
  • Rewards
    3.6 (43)
  • Online Experience
    3.5 (47)
  • Customer Service
    3.7 (50)
  • Rates and Fees
    3.5 (48)
  • Application Process
    4.0 (40)
  • Minimum Credit Limit A$2,000
  • Maximum Credit Limit A$25,000
  • Minimum Income A$40,000
  • Rewards ProgramAmerican Express Membership Rewards
  • Points Earn Rate 1.25 points per $1
  • Contactless PaymentsApple Pay, Fitbit Pay, Google Pay and Samsung Pay
HSBC Platinum

HSBC Platinum

2.9 from 32 reviews
Purchase Rate19.99% p.a.
Annual FeeA$129 p.a.
Interest Free Period 55 days
  • 0% p.a. on Balance Transfers for 22 months, 0% Balance Transfer Fee

  • Refunded $129 Annual Fee if you spend $6,000 or more on purchases each year

  • Earn up to 2 Rewards Plus Points per dollar

  • Complimentary Insurances, including Domestic and International Travel Insurance

  • 3% Overseas Exchange Fees

  • Earning Points capped at 10,000 per statement period

  • Balance Transfers revert to the high Cash Advance Rate of 21.99% p.a.

  • Transparency
    3.7 (20)
  • Rewards
    3.7 (14)
  • Online Experience
    3.3 (20)
  • Customer Service
    3.6 (20)
  • Rates and Fees
    4.1 (19)
  • Application Process
    3.5 (19)
  • BenefitsComplimentary Travel Insurance
  • Minimum Credit Limit A$6,000
  • Minimum Income A$40,000
  • Rewards ProgramHSBC Rewards Plus
  • Points Earn Rate 2 points per $1
  • Contactless PaymentsApple Pay and Google Pay
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