Compare rewards credit cards
Rewards cards earn points on your spending and usually offer bonus points to new cardholders. They carry higher annual fees and purchase rates, so they pay off only if you clear the balance every month.
| Card | Bonus points offer | Points earned | Annual fee | Purchase rate | Minimum credit limit | Link |
|---|---|---|---|---|---|---|
| St.George Amplify Rewards Platinum | Up to 100,000 Amplify Points: 75,000 when you spend $3,000 or more in the first 90 days, plus 25,000 after an eligible purchase in the second year. | Up to 2 Amplify Points per $1 on international spend, 1.25 on everyday purchases and 1 on other purchases, reduced after $5,000 of spend in a month. | $175 a year ($99 in the first year for new customers) | 23.98% p.a. | $6,000 | View on St.George site |
| Westpac Altitude Rewards Platinum | Up to 100,000 Altitude Points: 75,000 when you spend $3,000 or more on eligible purchases in the first 90 days, plus 25,000 after your first eligible purchase in the second year. | 2 Altitude Points per $1 on international spend, 1.25 on everyday spend and 1 on other purchases. | $175 a year ($99 in the first year for new customers) | 23.98% p.a. | $3,000 | View on Westpac site |
| NAB Rewards Card | Up to 100,000 NAB Rewards Points: 80,000 when you spend $3,000 on everyday purchases in the first 90 days, plus 20,000 when you keep the card for over 12 months. | Up to 2 NAB Rewards Points per $1, uncapped | $195 a year | 22.49% p.a. | $3,000 | View on NAB site |
| Bankwest More World Mastercard | Up to 50,000 bonus points when you spend $10,000 on eligible purchases in the first 90 days and keep the card open for 15 months. | 2.5 points per $1 on the first $2,000 of eligible purchases each month, then 0.5 points per $1. 0% foreign transaction fee. | $270 a year | 14.99% p.a. | $6,000 | View on Bankwest site |
| NAB Qantas Rewards Premium Card | Up to 40,000 Qantas Points: 25,000 when you spend $4,000 on everyday purchases in the first 90 days, plus 15,000 when you keep the card for over 12 months. $150 cashback when minimum spend criteria are met. | Qantas Points on eligible purchases, capped monthly. See NAB site for earn rates. | $295 a year | 22.49% p.a. | $3,000 | View on NAB site |
| NAB Rewards Travel Card | Up to 180,000 NAB Rewards Points: 120,000 when you spend $5,000 on everyday purchases in the first 90 days, plus 60,000 when you keep the card for over 12 months. | Up to 2.5 NAB Rewards Points per $1, uncapped. Fee-free international transactions. | $395 a year | 22.49% p.a. | $6,000 | View on NAB site |
| NAB Qantas Rewards Signature Card | Up to 60,000 Qantas Points: 40,000 when you spend $5,000 on everyday purchases in the first 90 days, plus 20,000 when you keep the card for over 12 months. $200 cashback when minimum spend criteria are met. | Qantas Points on eligible purchases, capped monthly. See NAB site for earn rates. | $449 a year | 22.49% p.a. | $6,000 | View on NAB site |
We list rewards cards from Bankwest, NAB, St.George and Westpac. Other banks and card issuers offer rewards cards that are not shown here. NAB says bonus points are not available to people who have held a card in the same range within the last 24 months (36 months for Qantas cards).
What to compare
Which points you earn
Bank points (such as NAB Rewards Points) and airline points (such as Qantas Points) are not worth the same. NAB Rewards Points convert to Velocity Points at 3 to 1, and NAB says they can’t be converted to Qantas Points. Compare offers in the program you will actually use.
When the bonus arrives
Most of these offers are split: part of the bonus comes after you meet the spend target in the first 90 days, and the rest only after you have kept the card into a second year, which means paying a second annual fee.
Fees against rewards
Add up what you would realistically earn in a year and compare it with the annual fee. If you don’t spend enough for the points to outweigh the fee, a no-fee or low-rate card will cost less.
Caps and minimum limits
Some cards cap or reduce the points you earn once you pass a monthly spend level. These cards also have minimum credit limits of $3,000 or $6,000, which affects whether you will be approved and how lenders view your existing credit.
Common questions
Are rewards cards worth it if I carry a balance?
Rarely. Most of these cards charge 22% p.a. or more, and interest on a carried balance will usually exceed the value of the points you earn.
Do points expire?
It depends on the program. Check the rewards program terms as well as the card terms.