Credit Card Rewards
Do you have a credit card with the right rewards for you? From international flights to iPods, there are dozens of rewards cards with thousands of rewards in Australia. But how do you find credit card rewards that suit your needs? Answer: Let us help! With constant comparisons and a knowledge of rewards cards second to none, we make it our goal to provide you with as much information as possible so you can find your perfect rewards card. For a quick start, check out our guide at the bottom of the page.
| Card | Description | Interest Rate (p.a) | Balance Transfer (p.a) | Annual Fee | Interest Free Days (up to) | Info |
|---|---|---|---|---|---|---|
 Woolworths Everyday Money Card |
It doesn’t get any better than this, $0 annual fee for the first 12 months ($49 after that) & Great rewards! |
19.84% p.a. | 5.99% p.a. for 6 months | $0 | 55 Days |   |
Making the right choice of rewards credit card
Is a rewards credit card suitable for you?
If you use your credit card regularly, but generally pay off the balance in full every month then a rewards credit card could be perfect for you.
Credit card rewards points are generally awarded for every dollar that you spend using your card. So, the more you use your card, the greater the number of points you will typically receive.
If you don’t use a credit card very often, you might not earn enough points on a rewards credit card to make it worthwhile. Similarly, if you maintain a balance on your credit card, a rewards credit card might not be the best choice for you. This is because the interest that you pay on your borrowing is likely to outweigh the value of any rewards that you may earn.
What type of credit card rewards are there?
There are dozens of rewards credit cards on offer. When choosing a rewards card, you should make sure that you choose a scheme which offers the types of rewards you are interested in.
For example, some reward schemes are linked to airline rewards programs. These often restrict your rewards to flights or accommodation. If you plan to use your rewards for travel, these schemes may well be perfect.
However, if you want to collect points to redeem for gift cards, homewares, cash or adrenaline experiences, you should pick a scheme that offers these choices.
What are the fees?
Always make sure that you check what fees and charges are applicable to your rewards credit card. Whilst many do carry an annual fee, this can vary from as low as $49 to over $200.
Sometimes, paying a higher annual fee will actually benefit you. That is because these rewards cards will offer you a greater number of points per dollar spent. If you use your card often, you may well benefit from paying a fee to earn enhanced rewards points.
Would a gold or platinum rewards card be better?
So-called ‘premium’ credit cards often offer faster points collection. It is not unusual for a gold or platinum credit card to offer more points per dollar spent than standard cards. These cards also often offer complimentary insurance products and a 24/7 concierge service in addition to enhanced rewards.
