A guide to Rewards Credit Cards In The Australian Market

Credit Cards > Credit Card Articles > Article: What To Look For In A Reward Credit Card In Australia in May 2018


We're all looking for something for less or even free, and that's where credit card reward programs really give us an advantage. In the Australian market, there are various opportunities to take advantage of in terms of credit card rewards programs.

Each program is unique in what it can offer you, and often, they provide you with outstanding benefits. As you browse through your options, do take the time to find the program that is going to work best for your particular needs. To do that, you'll need to do some comparisons.

What Type of Rewards Creat the Most Value

While you may get an application for a rewards credit card that offers you excellent returns on travel, if you don't travel, the rewards are worthless to you. If you do travel, they are an ideal way to save money. One of the most important things to consider, then, about the program is what type of rewards programs are available to you. Although many credit card companies are willing to offer rewards programs, many are banking on the fact that you won't use them. Therefore, they lure you into the program, you forget about redeeming frequent flyer points and they don't lose the money.

Some rewards programs include discounts on petrol, retail store discounts (sometimes with specific retail outlets, other times with several options,) travel rewards, insurance discounts, entertainment rewards or perhaps the most sought after which are cash rewards. Any of these can be beneficial to you, but you'll need to decide which the right one to consider is.

One of the benefits of some credit cards is that they offer you interesting credit card rewards that are credited to your account automatically. This is a nice feature since so many people struggle to remember to use their rewards.

For example, the Citibank BP Credit Card offers this; they will give you automatic savings on everything that you purchase at any retail location. Then, the money that you save one these purchases is automatically credited to your credit card account. You can then use funds for purchases on petrol (with a 5 percent off savings when you shop at BP) and still get a low interest rate.

The Costs for Rewards Programs

As you look at credit cards with rewards programs in Australia, be careful of the hidden costs. There are several ways that these companies can get you here.

First, some credit card companies offering rewards programs charge a higher interest rate. They need to in order to pay for the rewards they are given you. This is not a problem for you if you pay off your balance in full each month (and that is where you really save money with rewards programs.)

Another type of fee that you may see is a membership fee into the rewards program. Whether it is a yearly fee or a onetime fee, it can be significant.

For a good option that still offers affordability, consider the Citibank Gold Credit Card. One off the top benefit of this card is that it is offering a 2.9 percent p.a. interest rate on balance transfers for the first 18 months of your card ownership. In addition, you get to earn rewards points for each purchase you make with your credit card. These can be redeemed for various items as well as vouchers like a Qantas Frequent Flyer points. You will earn one reward point for every $1 you spend. The unique thing about this rewards program is that it is free to join. You get free access to the rewards program.

Compare and Contrast

The good news is that there are some excellent programs available, including those that offer other benefits.

  • Up to 55 days interest free on retail purchases
  • Free international travel insurance
  • Personal concierge service 24 hours a day, 7 days a week
  • Low interest rates
  • Business credit lines
  • Additional cardholders
  • High spending limits

These are just some of the benefits you may see with credit card rewards programs. You'll want to consider the options you have closely, and always look for the new credit cards coming onto the Australian market, and any benefits those lines may offer to you.

Here are the top rated rewards cards for May 2018 pick the one that suits you best!

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