Frequent flyer credit cards

Now is a great time to upgrade your seat, your status and your wallet with a frequent flyer credit card.

PROMOTED
Finder Exclusive Qantas Points Offer
15,000 extra Qantas Points on top of existing offers

For first-time Qantas Points earning cardholders

Min. spend, eligibility criteria, terms and conditions apply.

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

Compare frequent flyer credit cards

Frequent flyer credit cards are the easiest way to earn Qantas, Velocity or other points on your everyday spending. When comparing, make sure you look at the bonus point offers and what you have to do to get them.
Name Bonus points Points per $ spent Purchase rate p.a. Annual fee
Qantas Frequent Flyer
Bonus points
80,000
Points per $ spent
1
Purchase rate p.a.
19.99%
Annual fee
$349 first year ($399 after)
Go to siteMore Info
Earn up to 80,000 bonus Qantas Points. Plus, save with a reduced first-year annual fee and 0% p.a. for 12 months on balance transfers.
Qantas Frequent Flyer
Bonus points
60,000
Points per $ spent
1.25
Purchase rate p.a.
23.99%
Annual fee
$450
Go to siteMore Info
Get 60,000 bonus Qantas Points when you spend $3,000 in the first 3 months. Plus, a yearly $450 Travel Credit.
Qantas Business Rewards
Bonus points
150,000
Points per $ spent
1.25
Purchase rate p.a.
0%
Annual fee
$450
Go to siteMore Info
ABN holders w/ $75k revenue. Earn 150,000 bonus Qantas Points when you spend $3,000 in the first 2 months.
Velocity Frequent Flyer
Bonus points
60,000
Points per $ spent
1.25
Purchase rate p.a.
23.99%
Annual fee
$375
Go to siteMore Info
Get 60,000 bonus Velocity Points when you spend $3,000 in the first 3 months. Plus a return domestic flight each year.
Velocity Frequent Flyer
Bonus points
100,000
Points per $ spent
1
Purchase rate p.a.
0%
Annual fee
$249
Go to siteMore Info
ABN holders w/ $75,000 revenue. Get 100,000 bonus Velocity Points when you spend $3,000 in the first 2 months.
Qantas Frequent Flyer
Bonus points
N/A
Points per $ spent
0.75
Purchase rate p.a.
23.99%
Annual fee
$0
Go to siteMore Info
Save with an ongoing $0 annual fee and earn up to 1.75 Qantas Points per $1 spent.
Membership Rewards
Bonus points
N/A
Points per $ spent
1
Purchase rate p.a.
23.99%
Annual fee
$0 first year ($195 after)
Go to siteMore Info
Save with a $0 annual fee in the first year. Plus, $200 travel credit every year.
Qantas Frequent Flyer
Bonus points
30,000
Points per $ spent
1
Purchase rate p.a.
23.99%
Annual fee
$249
Go to siteMore Info
Get 30,000 bonus Qantas Points and 2 complimentary Qantas Club lounge invitations per year, plus complimentary travel insurance.
Velocity Frequent Flyer
Bonus points
N/A
Points per $ spent
0.75
Purchase rate p.a.
23.99%
Annual fee
$0
Go to siteMore Info
Save with an ongoing $0 p.a. annual fee and earn 0.75 Velocity Points per $1 on everyday purchases.
Membership Rewards
Bonus points
50,000
Points per $ spent
2
Purchase rate p.a.
23.99%
Annual fee
$395
Go to siteMore Info
Get 50,000 bonus Membership Rewards Points when you spend $4,000 in the first 3 months.
loading
Showing 10 of 10 results

Best frequent flyer credit cards for June

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:

  • The Qantas American Express Ultimate offers 60,000 bonus Qantas Points when you spend $3,000 in the first 3 months.
  • It also has the highest direct earn rate for Qantas Points in Australia at 1.25 points per $1 spent on everyday purchases. And 1 additional Qantas Point per $1 for eligible Qantas spending.
  • The perks on this card include a $450 yearly Qantas Travel Credit complimentary international and domestic travel insurance and airport lounge passes.

Annual fee and purchase rate

  • $450 annual fee
  • 23.99% p.a. interest rate for purchases

Go to Site

What we like about it:

  • Offers 60,000 bonus Velocity Points for new Amex card members.
  • Has the highest direct earn rate currently offered on a Velocity credit card, at 1.25 Velocity Points per $1 on everyday purchases.
  • Offers 1 additional point per $1 for eligible Virgin Australia spending, meaning you can earn up to 2.25 Velocity Points per $1 with this card.
  • Other travel perks include a return domestic flight with Virgin Australia each year, lounge passes, complimentary travel insurance and bonus Velocity Status Credits if you spend $50k in a year.

Annual fee and purchase rate:

  • $375 p.a. annual fee
  • 23.99% p.a. interest rate for purchases

Go to Site

What we like about it:

  • The ANZ Rewards Black Credit Card has a 180,000 bonus points and $150 back offer for new cardholders right now.
  • Earns 2 ANZ Reward Points per $1 spent on eligible purchases up to $5,000 per statement period, then $1 point per $1.
  • Also offers complimentary international travel insurance, purchase protection insurance covers and extended warranty insurance.

Annual fee and purchase rate

  • $375 annual fee
  • 20.24% p.a. interest rate on purchases

Go to Site

Fish hook
What's the catch?
Frequent flyer credit cards offer a lot of value when it comes to travel rewards and perks. But most of them have high annual fees and interest rates. If you usually carry a balance or don't spend much with a credit card, the points and perks probably won't outweigh the card costs.

How do frequent flyer credit cards work?

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.

Points give me access to money-can't-buy experiences

Sarah MegginsonSarah 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.

What about the costs?

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.

Types of frequent flyer credit cards

Tip: If you want KrisFlyer Miles, Emirates Skywards Miles or points through another frequent flyer program, check out rewards credit cards with points you can transfer.

Pros and cons of frequent flyer credit cards

Pros

  • Bonus points offers. You can typically get between 20,000 and 150,000 bonus points when you apply for a new frequent flyer credit card and meet the offer requirements. This can be enough for an overseas flight or great upgrades.
  • Points per $1 spent. Most frequent flyer credit cards earn between 0.5 and 1.25 points on everyday spending, and some offer more for spending with partnered airlines.
  • Travel perks. Many cards offer complimentary travel insurance, airport lounge access, flight or travel credit and even status credits to help you reach higher membership tiers.

Cons

  • Bonus point requirements. Some frequent flyer credit cards split the bonus points offer, so you need to meet a spend requirement in the first few months and keep the card for over a year to get them all.
  • High card costs. Frequent flyer credit cards typically have high interest rates around 19% to 22% for purchases. And annual fees are usually around $200-$400 for cards with good earn rates and perks.
  • Temptation to spend. If you struggle to stick to a budget and don't pay your balance in full each month, the promise of frequent flyer points could tempt you to overspend.

How do I find the best frequent flyer credit card for me? 3 questions to ask

Rates and fees aside, here are the key questions you can ask to choose a frequent flyer credit card.

Gold medal
  • How many bonus points can I get?

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 required 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.

Gold medal
  • How many points can I earn for my spending?

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.

Gold medal
  • Are there extra features?

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 frequent flyer credit card with a lower annual fee and fewer perks instead.

What are my frequent flyer points worth?

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.

Example: Value per 1,000 Qantas/Velocity points

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).

Flight
Cost
Qantas Pts
Velocity Pts
Value/1,000 Qantas Pts
Value/1,000 Velocity Pts
Sydney to Melbourne return (Economy)
$198
16,000
15,600
$12.38
$12.69
Sydney to Melbourne return (Business)
$1,298
36,800
31,000
$35.27
$41.87
Sydney to Los Angeles return (Economy)
$2,334
83,800
89,600
$27.85
$26.05
Sydney to Los Angeles return (Business)
$15,043
216,800
191,000
$69.39
$78.76

(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.

Are frequent flyer cards worth it?

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:

  • Most credit cards offer an interest-free period for purchases when you pay the full balance each month.
  • Introductory offers can include a reduced or $0 annual fee in the first year.
  • You can cancel a card at any time if you don't want it any more.
  • Qantas and Velocity offer other ways to earn points with partners – you could even choose to earn points through both programs.
💡 Travel tip: If you're planning to travel with a credit card, keep in mind that most frequent flyer cards charge a 2-3% international transaction fee for overseas spending. You can compare cards with no foreign transaction fees or take cash and debit cards to help save on costs.

Point-hacking

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.

Point hacking and credit card eligibility

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.

Provider
Exclusion period (months)
American Express
18
ANZ
12
CommBank
12
NAB
18
Westpac
12
Qantas Money
12
Bankwest
24
HSBC
12
St.George
12
Bank of Melbourne
12
BankSA
12

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.

Frequently asked questions

More frequent flyer guides and tips

A woman at the airport looking at a list of flights
See how much your points are worth in dollars with Qantas Frequent Flyer, Velocity, Amex Membership Rewards, Westpac Altitude and more.


Icons from www.flaticon.com

More guides on Finder

    Ask an Expert

    You are about to post a question on finder.com.au:

    • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
    • finder.com.au is a financial comparison and information service, not a bank or product provider
    • We cannot provide you with personal advice or recommendations
    • Your answer might already be waiting – check previous questions below to see if yours has already been asked

    Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

    This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

    137 Responses

      Default Gravatar
      SarjNovember 25, 2019

      Hi there! Are there any cards that do a pre-approval without impacting on your credit score? After submitting all financial details, relevant papers etc, it would be great to know if any of the firms offer a pre-approval without a hard lodgement on your credit file.
      Thanks

        Default Gravatar
        NikkiNovember 27, 2019

        Hi Sarj,

        Thanks for your comment and I hope you are well. As of this writing, we don’t have a page that offers a pre-approved credit card as well as one that will not impact your credit score.

        Hope this clarifies!

        Best,
        Nikki

      Default Gravatar
      kateApril 8, 2018

      Can you please advise when the 100,000 bonus points awarded to those who open a Qantas American Express Ultimate Card are awarded? Are they applied as soon as the $3000 spend limit applies – perhaps after two months? – or only after the three months limit has passed?

        Avatarfinder Customer Care
        JeniApril 8, 2018Staff

        Hi Kate,

        Thank you for getting in touch with finder.

        Points are typically credited in 2 weeks, but can take up to 8 after the spend criteria is met.

        I hope this helps.

        Have a great day!

        Cheers,
        Jeni

      Default Gravatar
      BethJanuary 24, 2018

      You forgot to mention the Qantas Cash Mastercard. The best!

        Avatarfinder Customer Care
        RenchJanuary 24, 2018Staff

        Hi Beth,

        Thanks for this info.

        Yes, the Qantas Prepaid Frequent Flyer Card with Qantas Cash is also featured on our site. You may refer to our list of frequent flyer credit cards for more information.

        Best regards,
        Rench

      Default Gravatar
      JoJune 30, 2017

      Can you please direct me towards cards that do not have a low cap. Already have an Amex but looking for a Visa card to gain maximum qantas points spending over $30000 a month.

        Avatarfinder Customer Care
        MayJune 30, 2017Staff

        Hi Jo,

        Thanks for reaching out.

        We do have a page for credit cards with uncapped frequent flyer points. Please note though some of the cards do not directly earn frequent flyer points as you spend. Their rewards points can be transferred to the frequent flyer program they are a partner with.

        I hope this helps.

        Cheers,
        May

      Default Gravatar
      MyViaCeNovember 28, 2016

      Hi, i heard westpac offers 100.000 bonus points for balance transfer than can be used towards qantas frequent flyer. Is that right?

        Avatarfinder Customer Care
        DeeNovember 28, 2016Staff

        Hi MyViaCe,

        Thanks for your question.

        Unfortunately, you can’t transfer your Westpac Altitude Rewards to Qantas frequent flyer program, but you can to Air New Zealand Airpoints, Cathay Pacific Asia Miles, Malaysia Airlines Enrich, Singapore Airlines KrisFlyer, and Virgin Australia Velocity.

        Please feel free to read more about transferring frequent flyer points and their points conversion rate.

        Cheers,
        Anndy

    Go to site