A reward credit card acts as a loyalty program and enables you to earn points on every day purchases, such as food shopping, clothes shopping and even the petrol you buy for your car. You can then redeem these points for various rewards, such as free international or domestic flights, shopping vouchers and even cash. Below are the reward credit cards from the top banks and providers within Australia. Use the table to find the best card for your needs. If you would like more information on reward credit cards, please scroll to the bottom of the page.

Credit Card	Interest Rate	Balance Transfer Rate	Interest Free Days (up to)	Annual Fee	Rewards
ANZ Balance Visa	14.24% p.a.	0% p.a. 6 months	0% 55 days	$79 ($57 p.a. + $22 Rewards Program Fee)	Cashback, Shopping
Enjoy all the benefits of this card and pay a low annual fee of $79 Range of vouchers and gift certificates 24/7 monitoring of suspicious transactions You must have an income of over $15,000 Up to 55 days interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 14.24%. Cash advances have an annual interest rate of 21.49%. There is no introductory balance transfer offer on this card and any balance transfers will incur an interest rate (per annum) of 14.24%. You will not be charged interest on any purchases for the first 55 days. Once the 0% period ends you will be charged an interest rate (per annum) of 14.24% on any purchases you make. This credit card has an annual fee of $79 ($57 p.a. + $22 Rewards Program Fee) You can earn up to 1 rewards points for every dollar you repay to your balance, including repayments to purchases, fees, interest, cash advances and repayments on balances transferred. You can redeem points for cashback, shopping vouchers and gift cards.
David Jones American Express Card	20.49% p.a.	N/A	0% 56 days	$99 p.a.	David Jones
Earn David Jones shopping vouchers Cover against online fraud Free Purchase Protection You must have an income of over $40,000 Up to 56 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 20.49%. There is no introductory balance transfer offer on this card and any balance transfers will incur an interest rate (per annum) of 20.49%. You will not be charged interest on any purchases for the first 56. Once the 0% period ends you will be charged an interest rate (per annum) of 20.49% on any purchases you make. This credit card has an annual fee of $99 p.a. You can earn up to 2 David Jones Gift Points for every dollar you spend and your points do not expire or capped as long as your card stays active. You can redeem points for travel services and a range of David Jones shopping offers.
Bank of Queensland Gold Visa Card	20.24% p.a.	1.9% p.a. 9 months	0% 55 days	$120 p.a.	Travel, Shopping
Enrollment into the Q Rewards® program Free International Travel Insurance Free Purchase Cover Insurance Up to 55 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 20.24%. Cash advances have an annual interest rate of 20.74%. Enjoy an interest rate (per annum) of 1.9% on balance transfers for up to the first 9 months. Once the 1.9% period ends you will be charged an annual interest rate of 20.24% on the transferred balance. You will not be charged interest on any purchases for the first 55. Once the 0% period ends you will be charged an interest rate (per annum) of 20.24% on any purchases you make. This credit card has an annual fee of $120 p.a. You can earn up to 1.75 reward points for every dollar you spend and your points do not expire as long as your card stays active. You can redeem points for travel services and shopping offers.
Bank of Queensland Platinum Visa Card	20.24% p.a.	N/A	0% 55 days	$199 p.a.	Travel, Shopping
Enrollment into the Q Rewards® program Free International Travel Insurance Free Purchase Cover Insurance Up to 55 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 20.24%. Cash advances have an annual interest rate of 20.74%. There is no introductory balance transfer offer on this card and any balance transfers will incur an interest rate (per annum) of 20.24%. You will not be charged interest on any purchases for the first 55. Once the 0% period ends you will be charged an interest rate (per annum) of 20.24% on any purchases you make. This credit card has an annual fee of $199 p.a. You can earn up to 2 reward points for every dollar you spend and your points do not expire as long as your card stays active. You can redeem points for travel services and shopping offers.
Bendigo Gold	19.74% p.a.	N/A	0% 55 days	$85 p.a.	Travel, Shopping
Enjoy all the benefits of this card and pay a low annual fee of $85 Enrollment into the Bendigo Rewards program Purchase travellers' cheques commission free at any Bendigo Bank Branch Up to 55 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 19.74%. There is no introductory balance transfer offer on this card and any balance transfers will incur an interest rate (per annum) of 19.74%. You will not be charged interest on any purchases for the first 55. Once the 0% period ends you will be charged an interest rate (per annum) of 19.74% on any purchases you make. This credit card has an annual fee of $85 p.a. You can earn up to 6 reward points for every dollar you spend on selected bonus partners (you earn 1.5 reward points for every dollar you spend on on every day purchases). You can redeem points for travel services, entertainment and shopping offers.
Citibank Gold Card	20.74% p.a.	1.9% p.a. 12 months	0% 55 days	$149 p.a.	Travel, Shopping
Free international travel insurance for you and your family Free purchase cover insurance Range of discounts and vouchers You must have an income of over $35,000 Up to 55 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 20.74%. Cash advances have an annual interest rate of 21.24%. Enjoy an interest rate (per annum) of 1.9% on balance transfers for up to the first 12 months. Once the 1.9% period ends you will be charged an annual interest rate of 21.24% on the transferred balance. You will not be charged interest on any purchases for the first 55. Once the 0% period ends you will be charged an interest rate (per annum) of 20.74% on any purchases you make. This credit card has an annual fee of $149 p.a. You can earn up to 1 reward point for every dollar you spend and your points do not expire as long as your card stays active. You can redeem points for travel services, cashback, entertainment and shopping offers.
Citibank Platinum Credit Card	20.74% p.a.	3.9% p.a. Life of balance transfer	0% 55 days	$250 p.a.	Travel, Shopping
Access to a Personal Concierge Free international travel insurance for you and your family Range of discounts and vouchers You must have an income of over $50,000 Up to 55 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 20.74%. Cash advances have an annual interest rate of 21.24%. Enjoy an interest rate (per annum) of 3.9% on the life of the balance transfer. You will not be charged interest on any purchases for the first 55. Once the 0% period ends you will be charged an interest rate (per annum) of 20.74% on any purchases you make. This credit card has an annual fee of $250 p.a. You can earn up to 1 reward point for every dollar you spend and your points do not expire as long as your card stays active. You can redeem points for travel services, cashback, entertainment and shopping offers.
Citibank Silver Credit Card	20.74% p.a.	2.9% p.a. 12 months	0% 55 days	$89 p.a.	Travel, Shopping
Enjoy all the benefits of this card and pay a low annual fee of $89 Free purchase cover insurance Range of discounts and vouchers Up to 55 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 20.74%. Cash advances have an annual interest rate of 21.24%. Enjoy an interest rate (per annum) of 2.9% on balance transfers for up to the first 12 months. Once the 2.9% period ends you will be charged an annual interest rate of 21.24% on the transferred balance. You will not be charged interest on any purchases for the first 55. Once the 0% period ends you will be charged an interest rate (per annum) of 20.74% on any purchases you make. This credit card has an annual fee of $89 p.a. You can earn up to 1 reward point for every dollar you spend and your points do not expire as long as your card stays active. You can redeem points for travel services, cashback, entertainment and shopping offers.
CitiBusiness Gold Credit Card	20.49% p.a.	2.9% p.a. 9 months	0% 55 days	$74 for 1st year, then $149 p.a.	Travel, Shopping
Access to a complimentary business concierge Free international travel insurance Range of discounts, vouchers and cashback rewards Up to 55 days interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 20.49%. Cash advances have an annual interest rate of 20.99%. Enjoy an interest rate (per annum) of 2.9% on balance transfers for up to the first 9 months. Once the 2.9% period ends you will be charged an annual interest rate of 20.99% on the transferred balance. You will not be charged interest on any purchases for the first 55 days. Once the 0% period ends you will be charged an interest rate (per annum) of 20.49% on any purchases you make. This credit card has an annual fee of $74 for 1st year, then $149 p.a. You can earn up to 1.25 reward point for every dollar you spend and your points do not expire as long as your card stays active. You can redeem points for travel services, cashback, entertainment and shopping offers.
Emirates Citibank Platinum Credit Card	20.74% p.a.	1.9% p.a. 12 months	0% 55 days	$229 p.a.	Emirates Skywards Miles Special offer!
One complimentary chauffeur driven ride per year One complimentary lounge pass for Emirates Lounge in Australia Range of discounts, vouchers and cashback rewards Up to 55 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 20.74%. Cash advances have an annual interest rate of 20.74%. Enjoy an interest rate (per annum) of 1.9% on balance transfers for up to the first 12 months. Once the 1.9% period ends you will be charged an annual interest rate of 20.74% on the transferred balance. You will not be charged interest on any purchases for the first 55. Once the 0% period ends you will be charged an interest rate (per annum) of 20.74% on any purchases you make. This credit card has an annual fee of $229 p.a. Special offer (as of 13th August 2010); You can earn up to 3 Skywards Miles for every dollar you spend on retail purchases and up to 200,000 Miles can be earned per annum. You can redeem points for Emirates travel services. Previous offer; 1.5 Miles, up to 150,000 p.a.
Coles Group Source MasterCard	19.74% p.a.	0% p.a. 6 months	0% 62 days	$0 p.a.	FlyBuys, Fuel
Enjoy all the benefits of this card and pay $0 annual fee Save up to 8 cents per litre on fuel Range of discounts and vouchers No balance transfers between Coles Group or GE Money Up to 62 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 19.74%. Cash advances have an annual interest rate of 21.99%. Enjoy an interest rate (per annum) of 0% on balance transfers for up to the first 6 months. Once the 0% period ends you will be charged an annual interest rate of 19.74% on the transferred balance. You will not be charged interest on any purchases for the first 62. Once the 0% period ends you will be charged an interest rate (per annum) of 19.74% on any purchases you make. This credit card has an annual fee of $0 p.a. You can earn up to 2 FlyBuys points for every 5 dollars you spend at Coles and you can save up to 8 cents per litre on fuel.
CUA Rewards MasterCard Gold	19.24% p.a.	2.9% p.a. 9 months	0% 55 days	$85 p.a.	Travel, Shopping
Enjoy all the benefits of this card and pay a low annual fee of $85 Huge range of rewards; cashback, shopping vouchers and travel discount No balance transfers between Credit Union Up to 55 days interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 19.24%. Cash advances have a rate of 19.99% p.a. Enjoy a balance rate of 2.9% for the first 9 months. You will not be charged interest on any purchases for the first 55 days. Once the 0% period ends you will be charged an interest rate (per annum) of 19.24% on any purchases you make. This credit card has an annual fee of $85 p.a. You can earn up to 1 reward point for every dollar you spend and your points do not expire as long as your card stays active. You can redeem points for travel services, entertainment and shopping offers.
HSBC Classic Credit Card	20.25% p.a.	5.99% p.a. 6 months	0% 45 days	$59 p.a.	Travel, Shopping
Enjoy all the benefits of this card and pay no annual fee for the first year Range of shopping, entertainment and travel rewards. You must have an income of over $20,000 After 6 months months, balance transfers have a cash advance interest rate of 21.99% p.a. Up to 45 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 20.25%. Cash advances have an annual interest rate of 21.99%. Enjoy an interest rate (per annum) of 5.99% on balance transfers for up to the first 6 months. Once the 5.99% period ends you will be charged an annual interest rate of 21.99% on the transferred balance. You will not be charged interest on any purchases for the first 45. Once the 0% period ends you will be charged an interest rate (per annum) of 20.25% on any purchases you make. This credit card has an annual fee of $59 p.a. You can earn up to 1 reward point for every dollar you spend on every day purchases (up to triple this amount with bonus partners). You can redeem points for travel services, entertainment and shopping offers.
IMB Rewards MasterCard Gold	19.24% p.a.	2.9% p.a. 9 months	0% 55 days	$99 p.a.	Travel, Shopping
Enjoy all the benefits of this card and pay a low annual fee of $99 Huge range of rewards; cashback, shopping vouchers and travel discount You must have an income of over $35,000 No balance transfers between CUA and Citigroup Up to 55 days interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 19.24%. Cash advances have a rate of 19.99% p.a. Enjoy a balance rate of 2.9% for the first 9 months. You will not be charged interest on any purchases for the first 55 days. Once the 0% period ends you will be charged an interest rate (per annum) of 19.24% on any purchases you make. This credit card has an annual fee of $99 p.a. You can earn up to 1 reward point for every dollar you spend and your points do not expire as long as your card stays active. You can redeem points for travel services, entertainment and shopping offers.
Jetstar MasterCard	10.99% p.a.	0% p.a. 6 months	0% 55 days	$49 p.a.	Jetstar Dollars
Enjoy all the benefits of this card and pay a low annual fee of $49 Range of offers on events You must have an income of over $30,000 Up to 55 interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 10.99%. Cash advances have an annual interest rate of 19.99%. Enjoy an interest rate (per annum) of 0% on balance transfers for up to the first 6 months. Once the 0% period ends you will be charged an annual interest rate of 10.99% on the transferred balance. You will not be charged interest on any purchases for the first 55. Once the 0% period ends you will be charged an interest rate (per annum) of 10.99% on any purchases you make. This credit card has an annual fee of $49 p.a. You can earn 1 cent in Jetstar Dollars every dollar you spend on every day puchases and you can earn up to $500 Jetstar Dollars per year. You can redeem points for Jetstar travel services.
St. George Platinum Credit Card	15.74% p.a.	3.99% p.a. 6 months	0% 55 days	$89 p.a.	Discounts
Enjoy all the benefits of this card and pay a low annual fee of $89 Free shopping and travel insurances 24/7 access to the Personal Concierge Service No balance transfers between St.George or BankSA Up to 55 days interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 15.74%. Cash advances have an annual interest rate of 21.24%. Enjoy an interest rate (per annum) of 3.99% on balance transfers for up to the first 6 months. Once the 3.99% period ends you will be charged an annual interest rate of 15.74% on the transferred balance. You will not be charged interest on any purchases for the first 55 days. Once the 0% period ends you will be charged an interest rate (per annum) of 15.74% on any purchases you make. This credit card has an annual fee of $89 p.a. You revcieve instant discounts and added extras with St.George Instant Benefits such as entertainment and shopping vouchers.
Suncorp Platinum Credit Card	19.99% p.a.	3.9% p.a. p.a. for the life of the balance transferred	0% 55 days	$205 p.a.	Qantas Frequent Flyer
24/7 access to the Personal Concierge Service Credit limits of up to $30,000 Free International Travel & Purchase Cover Insurance You must have an income of over $50,000 Up to 55 days interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 19.99%. Cash advances have an annual interest rate of 19.99%. Enjoy an interest rate (per annum) of 3.9% on the life of the balance transfer. You will not be charged interest on any purchases for the first 55 days. Once the 0% period ends you will be charged an interest rate (per annum) of 19.99% on any purchases you make. This credit card has an annual fee of $205 p.a. You can earn up to 1 reward point for every dollar you spend and for an additional $19 per annum you can join the Suncorp Qantas Frequent Flyer and earn 1 Qantas Frequent Flyer point for every $1 spent. You can redeem points for travel services, entertainment and shopping offers.
St. George Amplify Credit Card	18.49% p.a.	0.99% p.a. 6 months	0% 55 days	$79 p.a.	Amplify Rewards
Enjoy all the benefits of this card and pay a low annual fee of $79 Range of discounts through St.George Instant Benefits 24/7 monitoring of suspicious transactions No balance transfers between St.George or BankSA  Up to 55 days interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 18.49%. Cash advances have an annual interest rate of 20.49%. Enjoy an interest rate (per annum) of 0.99% on balance transfers for up to the first 6 months. Once the 0.99% period ends you will be charged an annual interest rate of 18.49% on the transferred balance. You will not be charged interest on any purchases for the first 55 days. Once the 0% period ends you will be charged an interest rate (per annum) of 18.49% on any purchases you make. This credit card has an annual fee of $79 p.a. You receive instant discounts and added extras with St.George Instant Benefits such as entertainment and shopping vouchers.
Virgin Flyer Credit Card	20.99% p.a.	6.9% p.a. 6 months	0% 44 days	$99	Travel, Shopping
Up to 44 days interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 20.99%. Cash advances have an annual interest rate of 20.99%. Enjoy an interest rate (per annum) of 6.9% on balance transfers for up to the first 6 months . Once the 6.9% period ends you will be charged an annual interest rate of 20.99% on the transferred balance. You will not be charged interest on any purchases for the first 44 days. Once the 0% period ends you will be charged an interest rate (per annum) of 20.99% on any purchases you make. This credit card has an annual fee of $99 Earn 1 Velocity Point per $1 spent up to $1,500 per month and then 1 Velocity Point for every $2. Buy a Virgin Blue seat with your new card and we'll give you a second seat for free, up to 4 times a year including Blue Saver fares.
Citibank Citi Select Credit Card	20.74% p.a.	4.9% p.a. Life of balance transfer	0% 55 days	$700 p.a.	Travel, Shopping, Cashback
Up to 55 days interest free from the date the purchase is made, after this period you will be charged an annual interest rate of 20.74%. Cash advances have an annual interest rate of 21.24%. Enjoy an interest rate (per annum) of 4.9% on balance transfers for up to the first Life of balance transfer. Once the 4.9% period ends you will be charged an annual interest rate of 21.24% on the transferred balance. You will not be charged interest on any purchases for the first 55 days. Once the 0% period ends you will be charged an interest rate (per annum) of 20.74% on any purchases you make. This credit card has an annual fee of $700 p.a. You can earn up to 2 Citi Reward points for every dollar you spend and your points do not expire as long as your card stays active. You can redeem points for travel services on Velocity Rewards (Virgin Blue and V Australia), Singapore Airlines KrisFlyer program and Asia Miles. You can also redeem points on cashback, entertainment, hotel and shopping offers.

What is a reward credit card?

A reward credit card is a type of loyalty program whereby you receive reward points for using your credit card on every day purchases. The type of rewards you receive vary from reward program, card type (standard, gold and platinum) and provider. You can typically redeem your points for free or discounted flights, retail products and goods, gift vouchers, flight seat upgrades and even cashback. A reward credit card is best suited for people that regularly use their credit card but to make the most out of any reward program you should aim to pay the card back in full before you incur interest fees otherwise the benefits of the card can soon be outweighed by its cost.

If you find it difficult to pay your credit card balance off then you should shift to a low interest rate card, as the money you’ll save from interest fees will be far greater than the benefits you’ll receive from a reward credit card.

Available reward programs

The following is a list of the top reward programs offered by Australian credit card providers: -

• American Express Blue Sky – A flight, gift voucher and cashback reward scheme that offers you 1 Blue Sky point per dollar spent on purchases. Available through the American Express Blue Sky credit card, this reward scheme has the additional benefits of $0 annual fee, no reward point expiry or caps and additional warranty and protection on eligible purchases. This reward program is best suited for people that frequently travel and who are not interested in spending their reward points on the online shopping stores, which are offered by the other major reward schemes.


• American Express Membership Rewards Ascent – Available through a number of American Express cards, this program offers premium travel and gift rewards to its card holders. The number of points you can earn for each dollar spent depends on the card and there is typically an option to boost this rate for an increased annual fee, which is great for people who regularly use their card. This reward scheme is best suited for people that frequently travel on these supported airlines: Singapore Airlines, Virgin Atlantic, Cathay Pacific, Malaysia Airlines, Thai Airlines and Air New Zealand. We highly recommend that you also review the reward point rates on each card as they can vary.


• American Express David Jones – This reward program is only available through the American Express David Jones credit card and is a good choice for people that value shopping benefits over travel related rewards. Each dollar you spend on the credit card earns you 1.5 gift points and you can earn 2 points per dollar spent when shopping in David Jones. These reward points can then be transferred to David Jones gift vouchers that can be used in store; you receive a $100 gift voucher for 13,300 points. The card also offers you extended interest free periods of up to 5 years when goods over $500 are purchased from David Jones, which is great for people who need to purchase expensive homewares.


• Qantas Frequent Flyer – This is one of the most popular reward schemes within Australia and is available through a large number of credit cards. The number of Qantas Frequent Flyer points awarded per dollar varies from card to card but in general you can expect 1 reward point per dollar spent on general purchases and up to 2 reward points when purchasing selected Qantas services. These reward points can be spent on a large range of rewards and services, which is why the program is so popular. You can receive free or discounted flights from Qantas and partner airlines, flight upgrades and gift and travel vouchers. Points can also be spent at an online store, which has a comprehensive range of goods, including electronics, homewares and sports equipment. This reward program is suited to card holders that appreciate the multiple ways to redeem their reward points however, we recommend that you review each card that supports this program to find the best one to suit your needs and spending habits.


• Jetstar Dollars – This reward program is available through the Jetstar MasterCard and Jetstar Platinum MasterCard credit cards. When you make purchases on these cards you earn Jetstar Dollars, up to the rate of 2 cents in Jetstar dollars for every dollar spent on the card. Each Jetstar dollar you earn can be spent on Jetstar flights and you’ll automatically receive a $100 Jetstar Dollar voucher once you accrue this amount on your card. This is a simple, yet effective reward program and is obviously best suited to people that can benefit from free or discounted Jetstar flights. You should be aware however, Jetstar vouchers are automatically issued and they expire within 3 months, so you’ll need to book your flight before then.


• FlyBuys – Founded in 1994, Flybuys is Australia’s largest loyalty / reward program with over 10 million members. Owned and only available through the National Australian Bank (NAB) and Westfarmers (Coles) credit card providers, the Flybuys programs allows it’s users to accrue reward points through every day purchases made on the card. The points can then be redeemed for flights, accommodation, entertainment, shopping vouchers, retail products and cash.


• Velocity – The Velocity reward / frequent flyer program was created by the Virgin Blue Airlines in 2005 and it is partnered with the National Australia Bank. The Velocity reward points can be gained through flying with Virgin Blue, Pacific Blue, Virgin Atlantic Emirates and other airlines and through also using the card for everyday purchases. In addition to NAB, other credit card providers are also joined to the Velocity reward scheme and allow you to transfer reward points you’ve accrued into the scheme. You can redeem points for flights, travel, shopping and entertainment benefits however, you can only redeem flights on these airlines: Virgin Blue, V Australia, Virgin Atlantic, Delta Air Lines, Emirates, Malaysia Airlines, Hawaiian Airlines, Pacific Blue, Polynesian Blue and Skywest.


• St. George Instant Benefits – Although not a reward program, the St. George Instant Benefits allows you to obtain discounts and special offers on selected partners regardless of how much you spend on your card. The offers are related to six partners; theme parks, RedBalloon, movie tickets, Borders, Premium Wines Direct and Rebel Sport. This program simply acts as an additional benefit for St. George card holders and has the added benefit of not incurring an additional annual fee, which most reward programs have.
• Suncorp Rewards Program – This reward program is only available through Suncorp credit cards and allows you to earn reward points through making general purchases on the card. You earn 1 Suncorp reward point for every dollar you spend on the card and they can be redeemed on flights, travel, shopping and entertainment. This reward program has the added benefit of allowing you to transfer the points to the Velocity reward program, making it a flexible program to be enrolled in.


• Altitude Rewards Program – The Altitude reward program was created by Westpac and is only available through this provider’s credit cards. The program allows you to earn up to 3 reward points per dollar spent on general purchases which can then be redeemed on a comprehensive range of merchandise and flights on the Jetstar, Virgin Blue, Rex, Skywest and Qantas airlines.

What are the positives of a reward credit card?

• Rewards – Redeem reward points on a huge range of offers such as discounted and free international and domestic flights, shopping and gift vouchers, retail products and merchandise, entertainment offers and even cash.
• Additional benefits – most of the reward credit cards come with additional benefits that can be enjoyed any time, such as free travel insurance, extended warranty and product protection.

What are the negatives of a reward credit card?

• Is it worth it? With the additional annual fees, increased interest rates and the risk of interest fees, if you don’t repay your debt in time, a reward credit card can easily end up costing you more money than you can save with it.


• Value of reward points – If you have decided on a reward credit card then you should review what your reward points are actually worth before making the final decision to sign up to the card. The number of reward points earned per dollar you spend varies for each program but regardless of how many points you can earn you should find out how valuable these are to you. For example, do you need a lot of points to redeem even the cheapest reward? Are the rewards something you actually need or are they worthless to you?


• Reward point expiry - Some of the reward programs implement expiry dates on when you can redeem your points. Ensure you review the reward point expiry before committing to a reward program.


• Reward point caps – If you make a lot of purchases on your credit card and you’re aiming to accrue a lot of reward points, make sure the reward programs doesn’t implement a cap on the number of reward points you can accumulate.


• Additional annual fee – There is typically an annual fee on top of the standard credit card annual fee with most reward programs. You should check that the reward program is still a worthwhile feature for your credit card with this extra cost.

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