Before we seek out the best credit card with 80,000+ bonus points, let’s be clear about what bonus points are.
Whether you call them bonus points or rewards, it’s the same thing – a system that provides you with spending incentives.
This is not necessarily a bad thing. You might have made the same decision to buy a pair of shoes using cash – however, this payment method won’t provide you with anything other than the shoes.
By using a credit card to purchase the shoes, you could accumulate points that contribute toward a future holiday or another five pairs of shoes.
Points are a reward system that places a point value on all credit card transactions. A credit card offering 80,000+ bonus points puts you in an advantageous purchasing position.
Credit cards offering bonus points – if managed with financial discipline – can add value to your budget. Your purchases can provide you with freebies and discounts.
Once you’ve shopped around and if you’ve found multiple providers offering a credit card with 80,000 bonus points or more, your choice needs to be refined.
Here are ways you can use your powers of deduction to find the right credit card:
- Check what conditions are attached to the bonus offer
- Compare the annual credit card fee
- Look for the lower interest rate on purchases
- Identify is there’s a spend cap on earning points
- Find out how you can use the bonus points
How do I earn and spend points?
There are two ways a credit card with 80,000+ bonus points is awarded:
- As a feature of the credit card which requires you to spend a minimum amount per statement to receive the bonus points
- As an introductory offer for new customers
Obviously, if the bonus points are an introductory offer for new customers, this is a one-off occurrence. The points may not be a given either; check whether there’s a minimum spend.
When it’s a credit card offering 80,000 bonus points as an existing customer, this gives you the ability to earn these extra points per statement cycle when you meet the spending requirements.
How you can spend the points will vary from credit card to credit card – although most credit card providers allow points to be carried over to other reward programs.
An example of this is Qantas Points and frequent flyer points, which can be earned through spending on a range of major credit cards.
How many points per dollar you earn from your spending will also depend on the provider. So it’s worth doing a comparison to make the most of the rewards (and your spending efforts).