The Best Rewards Credit Cards in Australia

Are you looking for the best rewards credit card that will reward you for your spending? With a rewards credit card, you can earn points as you spend and redeem them for travel, gift cards, shopping and more. Think of it as forced savings for Christmas or that well deserved holiday. We’ve outlined the 5 best reward credit cards in Australia below, plus some tips on what to avoid.

This information is intended to be used as a general guide and does not provide personalised advice. Always consider your personal and financial situation before applying for any type of credit.

Overview:

• What are reward credit cards?
• Best Australian rewards cards 2025
• Are rewards cards really worth it?
• Things to avoid in a rewards card
• FAQs

What are reward credit cards?

Rewards cards are a type of credit card that give you extra benefits for spending. You earn them according to how much money you spend on your credit card, and the lender converts your spending into rewards points. These points can be used to earn rewards, such as discounts or prizes.

But, which credit card gives you the best rewards?

Types of rewards cards

There are 5 main types of rewards cards in Australia:

1. Cash back: Cash back credit cards suit customers looking for cash back or gift cards.
2. General rewards: These rewards suit customers looking for a choice of options when redeeming points, such as merchandise, gift cards, automotive, entertainment, lifestyle, food and beverage, or additional rewards. A few providers who offer these types of rewards are:
   • Westpac Altitude Rewards Program
   • American Express Membership Rewards
   • NAB Flybuys
   • CommBank
3. Frequent flyer: These rewards suit customers looking for flights or other travel products. They are often directly linked to airline frequent flyer programs. Some airlines that offer frequent flyer point programs include Qantas, Virgin, Singapore Airlines and Emirates.
4. Instant rewards: These rewards suit customers looking for an instant discount at the point of sale.
5. Supermarket rewards: Woolworths and Coles have rewards credit cards that give you cash back in the form of shopping cards which you can use at the till to reduce the cost of your groceries

The best Australian rewards cards in 2025

We’ve selected the best rewards credit cards out this year, including some with great exclusive offers. But remember, the right rewards card depends on your spending habits and goals, so make sure you set some before you start. Check out our picks below.

1. Coles No Annual Fee Mastercard

Key Benefits:

• One of only a handful offering both rewards and no annual fee
• Bonus Flybuys on sign up, plus earn more as you spend
• Compatible with Apple, Samsung, and Google Pay

2. Westpac Altitude Platinum

Key Benefits:

• Discounted annual fee in the first year
• Up to 3 points per $1 spend with partnered brands like Qantas, Uber, and Spotify
• Complimentary travel insurance when going abroad

3. American Express Platinum Edge

Key Benefits:

• Higher point earnings with major supermarkets and petrol stations
• $200 to spend on eligible flights and accommodation
• Exclusive Amex offers

4. Citi Rewards

Key Benefits:

• 0% p.a on purchases and balance transfers in the first 15 months
• Free purchase protection and travel insurance
• Pay off a card while still earning 1 point per $1 spent

5. ANZ Rewards Black

Key Benefits:

• 2 points per $1 on eligible purchases for the first $5000 per statement period
• Huge 180,000 bonus points offer – worth $800 of Woolworths digital gift cards
• $150 back on your new card

If you’re shopping around for the best reward credit card, you can also check out Finder and Canstar to see even more side-by-side comparisons. Be aware that these comparison sites do not offer a full list of rewards credit cards available in Australia and you should always do your own research before applying.

Are rewards cards really worth it?

Rewards credit cards can be a useful way to help your money go further, but only if you use them responsibly, pay your balance each month, and choose cards that align with your spending habits. Before you jump in and sign up to the best rewards credit card on the market, here are a few must-knows.

Rewards credit cards have higher interest rates and annual fees than standard credit cards. So if you don’t pay your balance in full each month, the amount of interest and fees you’ll accrue could quickly outweigh any value you get from the rewards. So if you have an ongoing balance, the amount of money you will pay in interest and fees will outweigh the value you will get from any rewards.

Some other things to consider include:

• Your budget
• Upfront and ongoing fees
• Whether you can afford to pay off the balance in full
• Temptation to spend
• Requirements to get a credit check
• Protection against fraud

Things to avoid in a rewards card

When you’re looking for the best rewards credit card, there are a few things you want to look out for, including:

• Points capping: Some rewards cards will have a cap on the amount of points you can earn in a month or over a year period. If you’re a big spender, a program that does not have any points caps would suit you.
• Points expiry: If it’s going to take you a while to build up enough points for a reward, you’ll want a program with no points expiry.
• Overspending to get bonus points: 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 time frame. When weighing up bonus point offers, you should review the ongoing interest rate and any fees attached to the card, especially if there are spending limits to earn the bonus points. You don’t want to overspend and get into debt just to earn $50 cash back.
• Cards that don’t match your lifestyle: Do you only ever travel with Virgin Australia? Then choose a program that’s linked with the Velocity Frequent Flyer program. If you want the flexibility to choose between travel or shopping rewards, then go for a general rewards program that will allow you to redeem points for more than one type of reward.

Reward Credit Cards FAQs

Is it better to get cash back or points?

It depends on whether the points are redeemable at places where you would have gone anyway, like supermarket points/credits. You have to do your grocery shopping, so points towards that are great. However, if you’re collecting points for stores that you won’t usually go to, then opting for cashback is more sensible.

What is the best way to use credit card points?

Credit card points are redeemable on a wide range of things, allowing you to splash your points on merchandise, gift cards, travel miles or points, or cash back. The best way to use your credit card points is to align it with your interests or goals. If you’re planning a holiday, getting travel experiences or credit might be for you. But, if you’re trying to budget your income better, you may opt for cash back.

Whatever your reason to accumulate and spend your points, there is a reward programme out there to suit. And you’re looking for a more instant solution to your financial woes, learn all about instant approval credit cards, or apply for a fast cash loan today.