100k bonus point credit cards
CUA Low Rate Credit Card
Balance Transfer0% p.a. on balance transfers for 13 months. $0 annual fee for the first year
for 12 months then $49
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Commonwealth Bank Ultimate Awards (CommBank Awards Points)
Bonus Points100,000 Bonus Awards Points when you apply for a new CommBank Ultimate Awards credit card by 28 October 2020 and spend $5,000 on eligible purchases using your new card within 90 days from activation
ANZ Frequent Flyer Black
Bonus Points100,000 bonus Qantas Points, plus 75 bonus Status Credits and $150 back to your new ANZ Frequent Flyer Black, when you spend $3,000 on eligible purchases in the first 3 months from approval. Receive an additional 30,000 bonus Qantas Points when you keep your card for over 12 months.
Latest credit cards news
Buy now pay later usage drops off during COVID-19
Fewer Australians are using buy now pay later services during the pandemic, while credit cards are still preferred by most.
If you’re in the market for a new credit card, you’ve probably come across rewards cards that offer bonus points. From the outside, reward points can seem like you’re getting something for free. While there are benefits to cards that offer bonus points, they often attract higher fees and interest rates. Before you decide on a credit card that offers bonus points, it’s important to do your research and make sure that the costs don’t outweigh the benefits.
Credit cards that offer over 100,000+ bonus points reward your everyday spending with rewards points. Depending on the type of card, the bonus points could be linked to frequent flyer programs or could be used to redeem cashback, free flights, merchandise or various other lifestyle rewards.
How do credit card rewards programs work?
There is no one-size-fits-all credit card that offers over 100,000+ bonus points. Depending on the lender and the loyalty program, each reward credit card works slightly differently. Most credit cards that offer over 100,000 bonus points usually earn the cardholder points for every dollar they spend. When you’ve accrued enough bonus points, you can redeem the points for travel, flight upgrades, frequent flyer points, accommodation, gift cards, merchandise and other loyalty rewards.
Is it worth applying for credit cards with 100,000+ bonus points?
The general rule of thumb is that the more you spend on your rewards card, the better sense they make. To get the most out of a credit card rewards program, you’ll need to do your research to make sure that the amount of points you earn is worth the additional fees and higher interest rates you could be paying. If you regularly shop at a particular supermarket or petrol station, a reward credit card that’s linked to that store might make the most sense. If you’re a jet-setter, a credit card that’s linked to a frequent flyer program will get you the greatest return on your spending.
Typically, reward programs are designed to incentivise cardholders that spend big. If you have a legitimate reason to put all your expenses on your rewards card, it may make sense to earn bonus points if you’re spending that money anyway.
The risk for cardholders that don’t spend big is that the points could encourage spending for the sake of points. When you work out the cost of the bonus points and factor in the card fee, it could be detrimental. For cardholders with smaller spending budgets that generally don’t pay their full monthly balance, opting for a lower rate card could make better financial sense.
What do I look for in credit cards with 100,000+ bonus points?
Before you apply for a credit card with 100,000+ bonus points, use our online comparison tool to find a reward card that suits your spending and lifestyle. Here are some factors you may consider:
- Point value Check how many points you’ll earn with each dollar spent. The standard ratio is 1 point per $1.
- Minimum spend Some cards require a minimum monthly spend to get bonus points.
- Points expiry Points might not last forever, so check for an expiry date to make sure you’re not forfeiting any rewards unnecessarily.
- Points capping Some reward programs cap the number of points you can earn. Check this against what you spend to make sure you come out on top.
- Bonus points Some cards have the added incentive of earning bonus points. This may be a lump sum when you sign up, if you shop at a specific retailer or if you meet a minimum monthly spend.
- Lifestyle rewards Some rewards programs are fixed to a certain program, such as a specific frequent flyer program. Check to see this fits your lifestyle or whether flexibility is more important.
- Redemption Redeeming points should be as easy as earning them. Check the process and timeframe for point redemption.
Because you’re applying for a credit card, be sure to look beyond the rewards program and compare interest rates, annual or monthly card fees, foreign transaction fees, purchase and cash advance charges and balance transfer costs.
Property Personal Finance Writer
A property and personal finance writer, Nick Bendel covers property, loans, credit cards, superannuation, and other bank products. Nick has previously written for The Adviser, Mortgage Business, Lifehacker, Business Insider, Yahoo Finance, and InvestorDaily, and loves getting elbow-deep in the latest ABS, APRA and RBA data.
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If you have a bad credit score, you might encounter two main problems. First, the lower your credit score, the more likely you are to be rejected when you apply for a loan or any other credit product. Second, if your application is accepted, the less likely you are to qualify for the lowest interest rates.
The reason Equifax, Experian and Illion use different scores is because they are independent companies with their own different methodologies. As a result, a score of, say, 700 would mean different things at different credit reporting bureaus.
However, the one thing they have in common is that they divide their scores into five tiers. So if you receive a tier-two credit score from one bureau, you will probably receive a tier-two score from the others, as well.
Yes, as credit card providers look at your annual income amount as well as your occupation. Minimum income requirements tend to be between $30,000 – $40,000 for standard and rewards credit cards, however low income credit cards can have minimum income requirements as low as $15,000 per year.
There are two reasons you should check your credit rating: so you have a better understanding of your financial position, and so you can take action (if necessary) to improve your credit rating.
Lenders use credit ratings or credit scores to assess loan applications. The higher your score, the more likely you are to get approved, and the more likely you are to be charged lower interest rates and lower fees. Conversely, the lower your credit score, the less likely you are to get approved, and the more likely you are to be charged higher interest rates and higher fees.
Credit cards are a quick and convenient way to pay for items in store, online or over the phone. You can use a credit card as a cashless way to pay for goods or services, both locally and overseas. You can also use a credit card to make a cash advance, which gives you the flexibility to withdraw cash from your credit card account. Because a credit card uses the bank’s funds instead of your own, you will be charged interest on the money you spend – unless you pay off the entire debt within the interest-free period. If you pay the minimum monthly repayment, you will be charged interest. There are many different credit card options on the market, all offering different interest rates and reward options.
A balance transfer credit card lets you transfer your debt balance from one credit card to another. A balance transfer credit card generally has a 0 per cent interest rate for a set period of time. When you roll your debt balance over to a new credit card, you’ll be able to take advantage of the interest-free period to pay your credit card debt off faster without accruing additional interest charges. If your application is approved, the provider will pay out your old credit card and transfer your debt balance over to the new card.
For most Australians, there are no great barriers to applying for and getting approved for a credit card. Here are some points that a lender will consider when assessing your credit card application.
Credit score: A bad credit score is not the be all and end all of your application, but it may stop you being approved for a higher credit limit. If your credit score is less than perfect, apply for the credit limit that you need, rather than the one you want.
Annual income: Most credit cards have minimum annual income requirements. Make sure you’re applying for a card where you meet the minimum.
Age & residency: You need to be at least 18 years old to apply for a credit card in Australia, and most require that you are an Australian citizen or permanent resident. However, there are some credit cards available to temporary residents.
There is no one-size-fits-all best rewards credit card. It's best you research what type of rewards program you'd like, as well as the fees, interest rate and conditions associated with those types of cards before making a choice.
Rewards credit cards can also come with high annual fees that may end up nullifying the rewards, so think how often you use the card to decide whether the benefits outweigh the extra cost for you. A card with a lower annual fee might require a lot of spending to get any useful rewards, while another card with a higher annual fee might need fewer purchases to get a reward.
Losing your credit card is a serious situation, and could land you in financial trouble. Here is a simple guide detailing what to do when you lose your credit card.
Lock you card – Contact your provider and inform them about your lost credit card. From here lock, block or cancel your card.
Keep track of transactions – Look out for unauthorised credit card transactions. Most banks protect against fraudulent transactions.
Address recurring charges – If your card is linked to recurring charges (gym membership, rent, utilities), contact those businesses.
Check credit rate – To ensure you’re not the victim of identity theft, check your credit rating a month or two after you lose your credit card.
If you’re wondering about how to make a credit card online application, here are some steps to follow:
- Test the market. Many credit card options are available online. Compare providers by fees, interest and perks to ensure you’re getting the best deal.
- Complete the application. Once you’ve selected a card, head to the provider’s website and complete the online credit card application form. Forms vary by providers.
- Provide details. Most cards require you to meet age, residency, income and credit status condition, and you need to provide details like a bank account statement to prove this.
- Review details. Ensure the information you’ve entered is correct.