You can redeem via your Westpac Altitude account, which includes the Altitude Travel online booking platform. CommBank Awards Program. American Express Membership Rewards Program. Amex is well-known for all the rewards and perks on offer with its Membership Rewards Program.
Citi Rewards Program. There are a tonne of ways to use your rewards points with Citi, from merchandise, to eVouchers, charitable donations to cashing them in for airline miles. This program also gives you access to CitiBank Dining Program and Citi World Privileges which will snag you perks like exclusive event access and hotel discounts around the world.
You can redeem your points through your HSBC online banking, or over the phone. Bankwest More Rewards Program. Whale watching, movie tickets, three course dinners - there are plenty of awesome experiences to use your Bankwest More Rewards points on, plus all the usual options of retail products, gift cards or travel perks.
You can redeem points through the Bankwest More Rewards website, or directly through Webjet for travel options. George Amplify Rewards Program. You can choose a St. George credit card that will earn points you can redeem through the Amplify Rewards program or a card that funnels your points directly in your Qantas Frequent Flyer account.
Bank of Melbourne Amplify Rewards Program. Manage your points through your Amplify Rewards account via the Bank of Melbourne website to cash in on rewards including cashback, travel perks like flights and accessories, electronics or gift cards.
Too much information to wade through? No worries - we can take a lot of the work out of it for you. Mozo's Rewards Revealer tool is the only calculator in the market that will give you a ranking of rewards cards based on your spending level and rewards you're interested in.
But before you start reviewing cards for flight or shopping offers, first ask yourself: will I pay my credit card balance off in full each month? If you answered no, a rewards card may not be for you.
Rewards credit cards have higher interest rates and annual fees than standard credit cards so if you have an ongoing balance, the amount of money you will pay in interest and fees will almost certainly outweigh the value you will get from any rewards.
Instead, compare low-interest cards and choose a piece of plastic that fits your style. Rewards cards also offer other features, perks and bonuses, like:. On the flip side of all those perks and freebies, rewards cards can also come with some killer fees.
Common fees include:. There are heaps of different redemption options for when it comes time to use your rewards points, from travel to gift cards, cashback to retail buys. Exactly what redemption options you have will depend on which rewards program you pick, but most programs have options including:.
So how exactly do you find a rewards credit card to suit you, when there are so many options out there? But all that is easier said than compared. The table at the top of this page gives you a quick snapshot comparison of some rewards credit cards , including some of the key features. Piece of cake! That depends on how you use your plastic.
A rewards card generally has a higher annual fee and interest rate than other credit cards, so you have to make sure that you will get enough value out of the rewards and perks on offer to justify those extra costs. You might be better off with a low rate credit card instead. But what does that mean? And the eligible transaction is usually any regular purchase, which excludes things like:. Jean-Paul JP Pelosi is an experienced journalist and editor who has contributed to many of Australia's leading media outlets including The Guardian, News.
He has also edited news and communications for large financial services companies such as CommBank, Suncorp, Allianz and Amex. He loves a well told story and applying his editorial experience to content that readers both care about and enjoy. JP heads up our writing team.
Rewards credit cards work just like any other credit card: you spend using the card, then pay off your purchases later on when the bill comes. Learn more about the types of rewards you can earn on Credit cards hub. What happens to those points and what you can redeem them on depends on which card you choose and which rewards program it's attached to. Use our comparison page to start your research on these types of cards. Yes, it works in a similar way.
However, with a rewards credit card you earn points as you spend. The points can then be cashed in for products or perks.
Discover the benefits of rewards credit cards. That depends on how you use them. A rewards card generally has a higher annual fee and interest rate than other credit cards , so you have to make sure that you will get enough value out of the rewards and perks on offer to justify those extra costs. No, you will not earn any rewards points on a balance transfer.
Here are some quick tips to put you on the right path when it comes to choosing, earning, redeeming and using a rewards card and rewards points. This refers to the earn rate of rewards points for every dollar your spend.
Not all points are created equal. The redemption rate refers to the value of the rewards point when you come to use the points to pay for goods or flights. One Amex point might be more valuable than 3 points earnt on Visa. You could find that there is a big difference between what 50, points will get you on Card A and what you can get with 50, points on Card B.
American Express cards have on average higher points earning rates than Visa or MasterCard rewards cards. Some rewards cards will have a cap on the amount of points you can earn in a month or over a year period.
Yes, some rewards programs do have expiry dates that you need to use your points by. It is more common with airline programs than credit cards programs so be sure you check if this will apply to you.
You will need to be able to accrue enough points before the expiry and if you don't you might want to donate your points to charity or another family member. This is sometimes called points pooling. With some rewards cards, you will get the opportunity to earn bonus points. You might get them as a lump sum when you sign up for the card, or when you spend a set amount on the card in a specific timeframe.
Other rewards cards will give you bonus points when you spend money with specific retailers or stores. When weighing up bonus points offers, it is important to ensure you review the ongoing interest rate and any fees attached to the card, especially if there are spending limits to earn the bonus points. For every dollar you spend on your card you will earn rewards or frequent flyer points. Many rewards programs these days have flexible points redemption schemes where you can pay with points or pay with some points plus cash.
Others will only allow you to redeem goods or services when you've reached a set number of points. So when comparing rewards programs it is important to consider whether you want the flexibility of a points plus cash rewards program or not. Some rewards credit cards will automatically transfer points earned each month to your frequent flyer account.
When you sign up, it will usually ask for your frequent flyer account number. Apply now On Wells Fargo's secure site. Rewards rate. Intro bonus. Annual fee. Regular APR. Recommended credit. Good to Excellent - Credit score. Pros Earn unlimited cash back rewards on all purchases; no spending caps on the 2 percent rewards.
You cannot transfer rewards between programs with this card. Card details New! Apply now On American Express's secure site. Bankrate's View The generous cash back rewards in categories including U. Earn 6 percent cash back on select streaming services including Hulu and Netflix. There is a very high penalty APR Plans created after that will have a monthly plan fee up to 1. Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit.
Terms Apply. Apply now On Chase's secure site. Transferring your points to one of three major U. There are no intro APR offers on purchases or balance transfers. Take classes using a phone, tablet, or TV. No fitness equipment is required. Apply now On Discover's secure site. Pros This card charges no annual fee. The Cashback Match program in the first year is a generous intro offer. Cons You must enroll to reap max benefits each quarter and keep track of the rotating categories.
After the intro APR period concludes for balance transfers the balance transfer fee will jump from 3 percent to 5 percent of the amount of each transfer. Redeem cash back in any amount, any time. Rewards never expire. Use your rewards at Amazon. No annual fee. Apply now On Citi's secure site. Pros This card does not charge an annual fee. This card does charge a 3 percent foreign transaction fee, which could diminish your reward earnings when spending abroad.
After that, the variable APR will be No rotating bonus categories to sign up for — as your spending changes each billing cycle, your earn adjusts automatically when you spend in any of the eligible categories. Apply now On Capital One's secure site. Excellent - Credit score. Bankrate's View You can really rack up the miles with this new premium travel rewards credit card from Capital One, which touts a generous return rate on travel purchases, a lucrative welcome offer and a sweet anniversary bonus, among its standout features.
Capital One is thin on major domestic airline transfer partners. Bankrate's View The Capital One SavorOne Cash Rewards Credit Card offers cash back on dining and entertainment without an annual fee, making it a great card for on-the-go rewards seekers. This card does not charge an annual fee or a foreign transaction fee. Beware of redeeming cash rewards on Amazon.
Transferring points to a partnering airline or hotel loyalty program can increase their value. You must go through amextravel. Card details Rose Gold is here to stay. Enrollment required. No Foreign Transaction Fees. Apply now On Bank of America's secure site. Cons Steep requirements to qualify for Preferred Rewards status.
Other flat-rate cash rewards cards offer more notable benefits. Card details New Offer! With the new Unlimited Cash Rewards credit card, you can earn 1. That means you could earn up to 2. After the intro APR offer ends, Contactless Cards - The security of a chip card, with the convenience of a tap This online only offer may not be available if you leave this page or if you visit a Bank of America financial center.
You can take advantage of this offer when you apply now. Pros This card offers a 0 percent intro APR on balance transfers for 18 months then Pair this card with another Citi rewards card to maximize your earnings. Cons This card has no intro APR offer for purchases.
To earn cash back, pay at least the minimum due on time. Balance Transfers do not earn cash back. Intro APR does not apply to purchases. If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance including balance transfers by the due date each month. Citi Flex Plan offers are made available at Citi's discretion. Pros This travel rewards card does not charge an annual fee, a rare perk for a travel card. Cons There are other travel rewards cards that offer higher point values.
Any points you redeem through the Ultimate Rewards portal have up to a 50 percent higher value. The regular APR for this card Guide to the best rewards credit cards With a rewards credit card you can earn cash back, points or airline miles on the purchases you already make, usually at a set percentage of your spending.
Activation required 4. The aspiring traveler If award flights and hotel nights sound like the ultimate rewards to you, consider getting a travel rewards credit card. Ideally, you would have a card that rewards your most frequent purchase categories at a high rate, as well as a good flat-rate card.
How we chose the best rewards credit cards. Low cost of ownership Is the card a good deal, money-wise? The welcome offer, lucrative rewards at restaurants, U. Great for: Travel card with no annual fee. On Bank of America's Secure Website. After the intro APR ends, Unlimited 1. No-annual-fee travel cards typically skimp on the sign-up bonus, but this card delivers with its intro bonus offer, unlimited rewards on purchases, and other wallet-friendly perks. Great for: Dining rewards with no annual fee.
On Capital One's Secure Website. Dining and grocery spending will earn premium rewards, but that's not the only showstopper. A solid pick with a big bonus and nice list of airlines transfer partners, plus it includes a robust rewards program beyond just travel Read Full Review.
On Discover's Secure Website. A leading student credit card with a rewards program that goes toe-to-toe with some of the top rewards cards we've come across. This card is a great place to start when building your credit history.
It offers perks rarely found in secured cards, including cash back, no annual fee, and Discover's innovative sign-up bonus. Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights booked through Capital One Travel, plus unlimited 2X miles on all other purchases.
This is a strong new entrant to the premium travel card category with a big sign-up bonus, robust rewards program, and rich travel credits. A rewards credit card is one that earns rewards when you use it to pay for eligible purchases. The reward you earn depends on the card. One card may offer a rate of 1. As you use your card, your reward balance will grow. You can redeem your rewards any time you meet the redemption minimum. Many of the best rewards credit cards also don't have a minimum, in which case you can redeem rewards at any time.
There are three types of rewards cards: travel rewards credit cards, cash back credit cards, and store credit cards.
Note that some top rewards cards technically fall into multiple categories, but there's still usually a single category that best describes each card. It earns points you can use for travel, cash back, or store gift cards. However, its points are most valuable when used for travel, and it earns bonus rewards on travel purchases.
For those reasons, it's considered a travel credit card. A travel credit card earns rewards you can redeem for travel. This can include airfare, hotel stays, vacation rentals, car rentals, cruises, and much more. Travel credit cards usually offer special travel perks and no foreign transaction fee. Most come with an annual fee, though. There are a few different ways to use travel rewards depending on the card. Some cards let you redeem rewards at a fixed rate toward cash travel purchases.
Airline and hotel cards earn rewards in the provider's loyalty program. With this type of travel rewards card, you can use your rewards for bookings through the loyalty program.
Certain cards in major credit card rewards programs offer transferable rewards. That means you can transfer your points to any partners in the card issuer's rewards program. You could send rewards to the airline and hotel partners in the American Express Membership Rewards program. Compare more picks: Check out The Ascent's best travel rewards cards. A cash back credit card earns rewards in the form of cash back. There are a few different ways to redeem cash rewards.
Just about all cash back cards let you apply your rewards as a statement credit on your credit card account. A word of warning -- credit card companies typically don't consider cash back a substitute for your minimum payment.
If there's a balance on your cash back card, then you still need to pay at least the minimum amount. Many cash back cards also let you deposit cash back into your bank account or request a check. Compare more picks: Check out The Ascent's best cash back credit cards.
Store credit cards work a bit differently than travel cards and cash back cards. There are quite a few retailers that have their own store cards, and each retailer sets the rules with the cards it offers. This type of rewards card is only recommended if you spend a lot of money at the store in question.
For most consumers, cash back cards are the better choice. Most store cards earn rewards you can redeem for a gift card with that store. There are exceptions, though. Some store cards offer a discount on purchases instead of rewards. There are two basic categories of store cards. Closed-loop store cards only work at that retailer and any other brands it has. Open-loop store cards can be used with other merchants. Some stores only offer one of the two, whereas others offer both options.
When stores offer both, they generally approve customers with lower credit scores for closed-loop cards. Applicants with better credit can qualify for open-loop cards. Here's an example of how this works.
Let's say you apply for a credit card with T. Any of the following could happen:. Use your rewards card for every eligible purchase: If you don't, you're leaving money on the table.
Always pay by card so you can earn rewards on your spending. Stick to your budget: A common mistake is making unnecessary purchases and using rewards to justify it. Don't let credit card rewards convince you to overspend. Pay off your credit card every month: Credit card interest will cost more than any rewards you earn.
Avoid this by always paying your entire statement balance. Most consumers will get the greatest value from a card with a high rewards rate across every spending category.
Keep in mind that this isn't the best rewards credit card for everyone. Your best rewards card could be one with bonus categories that fit your spending to a T or a travel card that helps you cover expensive airfare. It's important to find the rewards card that matches your lifestyle and spending habits.
That way, you'll be able to maximize your credit card rewards. After earning credit card rewards, you can redeem them through the card's rewards program. Redemption options depend on the card you have. Here are the most common things you can do with credit card rewards:. When you log in to your online account, there will be an option to redeem rewards. You can choose this option to see what your redemption options are and pick the one you want. The value of your credit card rewards can vary depending on the redemption method.
For example, if your credit card earns travel points, you may also be able to redeem them for cash back, but at a lower rate per point. Before using your rewards, compare what they'll be worth with each redemption method so you can get the most value from them. You should get a rewards credit card if you have a good credit score and you plan to pay the bill in full every month.
Rewards cards are usually a great choice. If you use them correctly, they can save you a lot of money. There are only a couple situations when you shouldn't focus on getting a rewards card. If you don't have a good credit score, you should work on that first. By improving your credit, you'll be able to qualify for rewards cards that offer much more value. A rewards card also isn't worth it if you won't pay in full. Every month that you carry a balance, the card issuer can charge you credit card interest.
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