- Up to 2.25 points/$1
- $450 annual fee
- Up to 2.25 points/$1
- $450 annual fee
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
The best frequent flyer credit card is different for everyone, so we've looked at different Qantas, Velocity and flexible reward cards to pick out 3 popular offers based on bonus points, points earned per $1 and travel perks.
What we like about it:
Annual fee and purchase rate
What we like about it:
Annual fee and purchase rate:
What we like about it:
Annual fee and purchase rate
You can use a frequent flyer credit card just like any regular credit card, but it's linked to your frequent flyer account. So every time you make a purchase with the card, you earn points – usually between 0.5 and 1.25 per $1 spent.
Many cards also come with introductory bonus points, which can give you enough for a free flight. These offers are a popular way to get value from a frequent flyer card in a short amount of time. You can also get value each year with perks like lounge passes, complimentary insurance and travel credit.
Sarah Megginson, Finder's head of editorial
For over 5 years, Sarah Megginson has used frequent flyer points to get flight upgrades and holidays for her family of 5 – including a business class trip from Brisbane to LA in 2018.
"Flying in business class with kids is a joy," she said, "but to pay for a business class flight to the US for my family would be tens of thousands of dollars."
Megginson also uses points to save on business class flights in Australia.
"I usually fly to Sydney a dozen times a year for work and will often use points to upgrade or for a Business Rewards Flight."
"If I can get the upgrade, it's only 10,000 points, but the cash value for a business class flight is around $600-$700."
Megginson typically earns around 500,000 Qantas Points in a year by collecting them in just about every way she can – including bonus point offers on frequent flyer credit cards.
She said she'll sign up for a card and keep it for 18 months or so, then change to a new one. Her husband does the same, which doubles their point-earning power.
"I pay for as much as I can on my card to earn points," she added.
Depending on the mix of credit cards, Megginson said she would spend around $300 to $800 per year on fees.
"I see the fees as an investment into this lifestyle I'd never have otherwise," she said, noting that her family's Brisbane to LA trip was worth around $29,000 at the time.
You don't need to be a jet-setting executive or have platinum status to benefit from frequent flyer points – anyone can take advantage of them and get rewarded for money you were going to spend anyway.
Earn Qantas Points per $1 spent
Earn Velocity Points per $1 spent
Earn points and pay $0 annual fee
Rates and fees aside, here are the key questions you can ask to choose a frequent flyer credit card.
Introductory bonus point offers vary between 10,000 and 150,000 points on cards for personal spending (as opposed to business frequent flyer cards). You'll have to meet a spend requirement to get them, so make sure to check that before you apply.
For example, if an offer requires you to spend $4,000 in the first 60 days and you aren't sure you'll spend that much, it's worth looking at other offers. Or, planning how you'll meet the spend requirement and manage the repayments.
Bonus points offer the biggest value on a frequent flyer credit card but the points you earn per $1 spent also add up over time. A card that earns 1 frequent flyer point per $1 (or more) is competitive, but check if there is a cap on how many points you can earn at that rate.
If you get a rewards credit card that offers point transfers, 1 reward point will usually give you between 0.25 and 0.5 frequent flyer points. So a card that offers at least 2 rewards points per $1 is competitive.
A lot of frequent flyer credit cards offer travel extras, including complimentary travel insurance, airport lounge passes, travel credit and concierge services.
To get value from them, you actually have to use them. If you won't, you might want to look at a frequent flyer credit card with a lower annual fee and fewer perks instead.
The dollar value of your frequent flyer points depends on what rewards you redeem.
In general, flight upgrades and flight rewards give you the best value and offer an average of around 2 cents for every 1 point redeemed. In comparison, gift card rewards typically offer 0.5 cents per point.
A Finder survey found 15 million Australians are missing out on value by redeeming reward points for cashback on shopping – but flight rewards usually give you more bang for your buck.
These examples give you an idea of the value of your points for a few domestic and international flights. Keep in mind that the total points needed and value can change based on factors including the fare class, flight sales and carrier charges (which are usually billed separately).
|Sydney to Melbourne return (Economy)|
|Sydney to Melbourne return (Business)|
|Sydney to Los Angeles return (Economy)|
|Sydney to Los Angeles return (Business)|
(Calculations are based on 13 October 2022 point values for Qantas Classic Flight rewards and Velocity Reward Seats. Flight values are based on the average fare prices for Qantas and Virgin Australia flight searches on 13 October 2022)
You can check out Finder's guide to how much 1 Qantas Point is worth for more examples. If you want to know how much your points (from all major Australian programs) are worth, check out our points calculator.
Frequent flyer credit cards are worth it if you pay off your balance and get enough value for the annual fee you'll pay. You don't have to use every feature, just make sure you take advantage of the perks you value.
Some key points to keep in mind:
There are dedicated point-chasers that will switch cards every year or two to make the most of bonus point promotions.
This strategy is sometimes known as credit card churning and can suit people who primarily use credit cards to earn points – and pay it off as they go. Otherwise, the cost of annual fees and potential interest won't be worth it.
Credit card brands frown on churning, and many bonus point offers exclude people who have recently had a card with the same bank or brand. For example, if you had an American Express card, you'd usually need to wait 18 months after cancelling it before you would be eligible for a bonus points offer on another Amex card.
Here, we've outlined the amount of time you'll need to wait to be eligible for a bonus points offer with different providers.
|Bank of Melbourne|
Note: Citi and Virgin Money don't list a specific timeframe for previous or existing customers.
Some banks apply this exclusion period to each type of rewards card. For example, NAB applies an 18-month exclusion period to NAB Qantas Rewards cards, separate to NAB Rewards cards. And ANZ has a 12-month exclusion period for ANZ Frequent Flyer cards, separate to ANZ Rewards cards.
In these cases, you'd still be eligible for a frequent flyer credit card offer with NAB or ANZ, even if you had a NAB Rewards or ANZ Rewards card.
Icons from flaticon.com
From transfer rates to bonus point offers, find out how converting credit card rewards to Velocity Points works so you can boost your frequent flyer balance.
Earn KrisFlyer miles on your everyday spending and get introductory bonus points with a credit card linked to the Singapore Airlines frequent flyer program.
Find out if there are any credit card offers that let you earn Qantas Frequent Flyer Status for your eligible spending and learn more about how to reach Silver, Gold or Platinum Qantas status.
How to pay less for your card while still earning points.
From flights and hotel stays to travel packages, gift cards and merchandise, here’s how to make the most of 100,000 Velocity Points based on your lifestyle and goals.
Discover how many Qantas or Velocity points you need to book or upgrade to a business class flight ticket.
Reward your spending with an air miles credit card and redeem points for your next flight.
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