Are frequent flyer credit cards worth it?

They can be for people who travel regularly and pay the balance in full each month, because airline points can be worth more than generic rewards, especially the sign-up bonus. For others, the annual fee may outweigh the benefit.

What is a sign-up bonus?

A one-off batch of bonus points awarded for opening the card and meeting a minimum spend within a set period. It can be a card’s biggest single source of points.

Which matters more, the airline or the earn rate?

The program that gets used matters first, then the earn rate, fees and bonus within it. Points that can’t conveniently be redeemed have little value.

What are transfer partners?

Some bank rewards programs let you transfer points to a choice of airline partners, giving flexibility over which program you ultimately earn in.

Do airline points expire?

Most programs expire points after a period of inactivity: Qantas Points after 18 months without an eligible earn or redemption, Velocity Points after 24 months. Earning or redeeming usually resets the clock. Each program’s rules set out the detail.

Compare Frequent Flyer Points Offer Credit Cards

A sign-up bonus is conditional: the points land only after you hit a minimum spend inside a set window, and most issuers limit the offer to customers who have not held the card recently. Annual fees on these cards run higher than on a no-frills card, so check the fee against what the points are realistically worth to you. Purchase rates here start at 14.99% p.a. with Bankwest's Bankwest More World Mastercard.

Rates checked against every provider’s own published data on 19 Oct 2026

	Actions
Bankwest	Purchase rate14.99%	Compare Bankwest Bankwest More World Mastercard	Intro 0% for 6 months on balance transfersFeatures: Rewards	A credit card for earning points to redeem for digital vouchers or cashback.
ING	Purchase rate16.99%	Compare ING Orange One Rewards Platinum	Features: Rewards	The credit card that comes with up to $30 a month cashback on your spend, and no ING international transaction fees when you shop overseas or online.
BankVic	Purchase rate18.95%	Compare BankVic Qantas Credit Card	Intro 9.96% for 6 monthsFeatures: Rewards	For Police Association of Victoria, Australian Federal Police Association, Northern Territory Police Association, Victorian Ambulance Union and United Firefighters Union members
NAB	Purchase rate19.50%	Compare NAB NAB Qantas Business Signature Card	Business onlyFeatures: Rewards	Get more from your business credit card purchases. Maximise your Qantas Points.
Bankwest	Purchase rate19.99%	Compare Bankwest Bankwest Qantas Platinum Mastercard	Intro 2.99% for 9 months on balance transfersFeatures: Rewards	A credit card for earning unlimited Qantas Points.
Bankwest	Purchase rate19.99%	Compare Bankwest Bankwest Qantas World Mastercard	Intro 2.99% for 9 months on balance transfersFeatures: Rewards	A credit card for earning unlimited Qantas Points.
Bendigo Bank	Purchase rate19.99%	Compare Bendigo Bank Qantas Platinum Credit Card	Features: Rewards	With one of the lowest annual fees in the market, and a competitive interest rate, make every day purchases using your Qantas Platinum Credit Card and watch your points soar. Plus, you will also…
Great Southern Bank	Purchase rate19.99%	Compare Great Southern Bank Platinum Credit Card	Features: Rewards	A Platinum VISA credit card with a monthly fee.
ANZ	Purchase rate20.24%	Compare ANZ ANZ Business Black	Business onlyFeatures: Rewards	A credit card facility for businesses where you can earn rewards on eligible transactions and receive domestic and international travel insurance
Westpac	Purchase rate20.24%	Compare Westpac Altitude Business Gold	Business onlyFeatures: Rewards	Receive flexible rewards points for eligible purchases and tax payments, plus complimentary insurance.
Westpac	Purchase rate20.24%	Compare Westpac Altitude Business Platinum	Business onlyFeatures: Rewards	Get uncapped rewards points for eligible purchases and tax payments, plus complimentary extended insurance.
Macquarie Bank	Purchase rate20.70%	Compare Macquarie Bank Macquarie Platinum Card	Features: Rewards	The Macquarie Platinum Rewards Credit Card is designed for customers who are willing to consider incurring (and are in a financial position to pay) a higher annual fee and/or interest rates in order…
Virgin Money	Purchase rate21.99%	Compare Virgin Money Virgin Australia Velocity Flyer Credit Card	Intro 0% for 24 months on balance transfersFeatures: Rewards	Go places faster with our award-winning Virgin Australia Velocity Flyer credit card. Turn your everyday spend into flights, accommodation and more. The sky's the limit.
Virgin Money	Purchase rate21.99%	Compare Virgin Money Virgin Australia Velocity High Flyer Credit Card	Intro 0% for 12 months on balance transfersFeatures: Rewards	If you love to travel, the Virgin Australia Velocity High Flyer Card is for you. Earn Velocity Points on your everyday spend, plus enjoy exclusive flight benefits and a range of complimentary…
ANZ	Purchase rate22.49%	Compare ANZ ANZ Frequent Flyer Black	Features: Rewards	Our most rewarding Qantas experience

What is a frequent flyer credit card?

A frequent flyer credit card earns points in an airline’s loyalty program, either directly or through a bank program you transfer to an airline. For regular travellers, the points can be worth more than generic rewards, especially when redeemed for flights or upgrades.

Many frequent flyer cards lead with a large sign-up bonus, a one-off batch of points for opening the card and meeting a minimum spend. A bonus can be valuable, but the ongoing earn rate and the annual fee are what remain after the first year.

Airline programs

Points only have value in a program that gets used, and there is little value in points that can’t be redeemed conveniently. Some cards earn directly into a program like Qantas or Velocity; others earn flexible bank points you transfer to a choice of partners.

How frequent flyer cards compare

The sign-up bonus, ongoing earn rate, annual fee, points caps and transfer partners are the figures that separate them. Cards can be compared side by side, and the full market is on the credit cards hub.

Glossary

The key terms you’ll meet when comparing these products, reading product disclosures or talking to a provider.

Term	What it means
Annual fee	The yearly fee for holding the card, sometimes waived in the first year or reduced for higher spend.
Balance transfer	Moving debt from one card to another, often at a low or 0% introductory rate for a set period.
Earn rate	How many reward points you earn per dollar spent, which can vary by spend category.
Foreign transaction fee	A fee, often around 3%, on purchases made overseas or in a foreign currency.
Frequent flyer program	An airline loyalty scheme (such as Qantas Frequent Flyer or Virgin Australia Velocity) where points are earned and redeemed for flights and upgrades.
Interest-free days	A period (often up to 44 or 55 days) where purchases attract no interest, provided you pay the closing balance in full.
Minimum repayment	The smallest amount you must pay each statement period to keep the account in order; paying only this means interest accrues.
Purchase rate	The interest rate charged on purchases that aren’t paid off by the due date.
Rewards points	Points earned on spending that can be redeemed for flights, gift cards, cashback or merchandise.
Sign-up bonus	A one-off batch of bonus points awarded for opening a card and meeting a minimum spend within a set time.
Transfer partner	An airline program you can move bank reward points into, giving flexibility over where your points end up.

Term

What it means

Annual fee

The yearly fee for holding the card, sometimes waived in the first year or reduced for higher spend.

Balance transfer

Moving debt from one card to another, often at a low or 0% introductory rate for a set period.

Earn rate

How many reward points you earn per dollar spent, which can vary by spend category.

Foreign transaction fee

A fee, often around 3%, on purchases made overseas or in a foreign currency.

Frequent flyer program

An airline loyalty scheme (such as Qantas Frequent Flyer or Virgin Australia Velocity) where points are earned and redeemed for flights and upgrades.

Interest-free days

A period (often up to 44 or 55 days) where purchases attract no interest, provided you pay the closing balance in full.

Minimum repayment

The smallest amount you must pay each statement period to keep the account in order; paying only this means interest accrues.

Purchase rate

The interest rate charged on purchases that aren’t paid off by the due date.

Rewards points

Points earned on spending that can be redeemed for flights, gift cards, cashback or merchandise.

Sign-up bonus

A one-off batch of bonus points awarded for opening a card and meeting a minimum spend within a set time.

Transfer partner

An airline program you can move bank reward points into, giving flexibility over where your points end up.

Common questions

Rates and fees are sourced from each provider’s CDR Product Reference Data as of the date shown. They are general information only. Not credit advice. CompareThat is not a credit provider. Payment can change where a product appears, never which products we show.

Compare Frequent Flyer Points Offer Credit Cards

Important information

What is a frequent flyer credit card?

Airline programs

How frequent flyer cards compare

Glossary

Common questions

The Numbers Behind This Market

Why you can trust CompareThat

Compare Frequent Flyer Points Offer Credit Cards

Important information

What is a frequent flyer credit card?

Sign-up bonuses vs ongoing earn

Airline programs

How frequent flyer cards compare

Glossary

Common questions

The Numbers Behind This Market

Why you can trust CompareThat