Updated November 2024 by money editor, Richard Whitten.
The Finder Score is an easy way you can figure out which frequent flyer credit cards are worth the trip, and which ones aren't worth getting out of bed for.
Here's how the score works:
In the frequent flyer category we only consider credit cards that:
Scores are category-specific. So one credit card could receive a score of 9 in the balance transfer category but a score of 8 in the frequent flyer category.
The Finder Score methodology is designed by our insights and editorial team. Commercial partners carry no weight, and all products are reviewed objectively.
Remember that Finder Score is just one factor to consider. Look at other aspects like fees, features, benefits and risks to make sure a product is suitable for you. Double-check details that matter to you before applying or buying.
| Feature | Definition | Assessment | Weight |
|---|---|---|---|
| Earn Rate | Points earned for every dollar spent on eligible purchases | Points awarded per dollar (up to 1.5) | 28% |
| Sign-Up Points | Bonus points earned for signing up and meeting spending requirements | Total bonus points offered (up to 200,000) | 25% |
| Purchase Rate | Interest rate on new purchases | Lower rates receive higher scores (up to 23.99% max) | 10% |
| Lounge Pass | Access to airport lounges | Complimentary annual passes receive full score | 10% |
| Foreign Exchange Fee | Fee on overseas transactions | Lower fees receive higher scores (0% fee scores highest) | 5% |
| Earn Rate Cap | Maximum points earned in a billing cycle before a lower earn rate applies | Higher caps or no cap receive higher scores (up to 10,000 points max) | 5% |
| First-Year Fee | Fee charged for the first year of card ownership | Lower fees receive higher scores ($0 fee scores highest) | 15% |
| Ongoing Annual Fee | Fee charged from the second year onwards | Lower fees receive higher scores ($0 fee scores highest) | 10% |
Pros & cons
Why we like it
Pros & cons
Why we like it
Pros & cons
Why we like it
We fly, frequently - Our card experts are actively building their points balances, applying for new cards and learning the ins and outs of the latest offers, so we know how to find and share the info that matter to you.
You save time - Why spend 100s of hours researching credit cards and tracking the latest deals? We've done the hard yards, so you can quickly sort through the options and boost your balance faster.
Jargon-free zone - we know our earn rates from our points caps, and we'll talk about eligible spends into the early hours of the morning. But we'll always explain how it all works in plain English.
Find out which credit cards have been recognised in this year's frequent flyer awards categories.
The ANZ Frequent Flyer Black Card has been named the Best Frequent Flyer Credit Card – Qantas for the third year in a row. It had big bonus Qantas Points during the analysis period – and a good earn rate, Qantas Club lounge invitations and travel insurance.
The Qantas Premier Platinum and NAB Qantas Rewards Signature Card were finalists in the Qantas credit card category, with both cards scoring highly for bonus point offers during the 12-month period of analysis.
The Virgin Australia Velocity High Flyer won the Finder Award for Best Frequent Flyer Credit Card – Velocity. It had strong scores for bonus point offers, points per $1 spent and annual fee. Other perks include airport lounge passes and a $129 Virgin Australia Flight Voucher.
The Westpac Altitude Velocity Black and American Express Velocity Platinum were finalists in the Velocity credit card category, with bonus point offers and earn rates both key features during the analysis period.
Every year the Finder Credit Card Awards recognise Australia's top credit cards, with expert analysis on rates, fees and offers based on 12 months' worth of data. The awards cover categories including balance transfers, travel and frequent flyer rewards – with separate categories for cards that earn Qantas Points and Velocity Points.
As offers change frequently, these cards might not currently have the most competitive deals but you can use them as a benchmark against current offers.
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.
There are also frequent flyer business credit cards that offer some very lucrative points deals and perks for business customers.
Finder's head of editorial Sarah Megginson has used frequent flyer points to get flight upgrades and holidays for over 10 years – including a business class trip from Brisbane to LA for her family of 5.
She also uses points to upgrade and save on business class flights in Australia, with Finder analysis showing each 1 Qantas Point used on an upgrade is typically worth between 2 and 8 cents.
Megginson gets around 500,000 Qantas Points a year by collecting them in just about every way she can – including bonus point offers on frequent flyer credit cards.
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.
Bottom line? Anyone can take advantage of frequent flyer points – and with the right credit card you can get rewarded for money you were going to spend anyway.
Qantas Frequent FlyerEarn Qantas Points per $1 spent
Velocity Frequent FlyerEarn Velocity Points per $1 spent
$0 annual feeEarn points and pay $0 annual fee
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.
"Travelling is (increasingly) expensive but frequent flyer points can make it more affordable, if you're smart about it. I always take some time to research a card and calculate how many points I could get. Once I've got the card, I make sure I never pay any interest on 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:
Rates and fees aside, here are the key questions you can ask to choose a frequent flyer credit card.
Introductory bonus point offers can give you between 8,000 and 150,000 frequent flyer 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 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 (Qantas, Economy) | |||
| Sydney to Melbourne return (Qantas, Business) | |||
| Sydney to Melbourne return (Virgin, Economy) | |||
| Sydney to Melbourne return (Virgin, Business) |
You can check out Finder's guide to how much 1 Qantas Point is worth for more examples. You can also use Finder's points calculator if you want to know how much your points (from all major Australian programs) are worth.
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, interest and potential credit score impact 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.
| Provider | |
|---|---|
| American Express | |
| ANZ | |
| CommBank | |
| NAB | |
| Westpac | |
| Qantas Money | |
| Bankwest | |
| HSBC | |
| St.George | |
| Bank of Melbourne | |
| BankSA |
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.
Compare Qantas Wine bonus point deals and the retail price of the wine at the same time, to find the best value in the market.
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.
Hi,
For ANZ Frequent Flyer Credit Card – car insurance included local as well or only for use in overseas?
Thanks.
Hi Roy,
Thanks for your question.
With ANZ Frequent Flyer Credit Card, complimentary travel insurance is not one of its benefits. But ANZ premium cards do have complimentary travel insurance and it includes rental vehicle excess cover which is for overseas trips only. Please refer to this ANZ complimentary travel insurance that details more information about it.
Hope this helps.
Cheers,
May
Hi Finder,
I am looking for a credit card that gives me complimentary travel insurance. However the ones I have looked in to do not cover me for places where the govt has advised to ‘reconsider your need for travel’. I want to travel to places like Ethiopia but it falls under that category so I wouldn’t be covered. Do you know any credit cards that offer really good quality travel insurance that would cover me for places like that?
Thanks so much for your help!
Tom
Hi Tom,
Thanks for your inquiry.
You may refer to our comparison of credit cards that offer free travel insurance.
If you are after a more comprehensive travel insurance, you can review standalone policies from Australian Travel Insurance Companies.
Please make sure to read the eligibility criteria, features, and details of the policy, as well as the relevant Product Disclosure Statement of the policy before making a decision and consider whether the product is right for you. If necessary, speak to the insurance brand to verify any details.
I hope this helps.
Cheers,
Debbie
Hi Debbie,
Thanks for your help! I will check out those links now.
Cheers
Tom
No worries Tom. Just let us know we can assist you further. Thanks!
hi guys
just wanted to ask
how i could get a Frequent flyer Velocity Promo Code
thank you v much
Cheers,
Hi Chandy,
Thank you for your inquiry.
Please refer to link I have sent to your email for the list of special offers from Velocity. You can also check out a list of the latest Velocity promo codes from Virgin Australia.
I hope this helps.
Cheers,
Debbie
how often do I pay ,is it annually or monthly
if monthly I will cancel,please advice before I make my next payment on my a/e account
Hi Brian, thanks for your inquiry!
Generally credit card repayments are monthly. To allow us to assist you further could you specify which credit card you are using?
Cheers,
Jonathan
Is there a FF CC that can be used with any airline?
thanks
Robyn
Hi Robyn, thanks for your inquiry!
Most credit cards have a partnership with one or a few airlines/ frequent flyer programs. You may like to review the oneworld alliance program which combines the benefits of multiple airlines.
Please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you apply.
Cheers,
Jonathan