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Biggest bonus points offers: top credit card points on sign up in May

Biggest bonus points offers: top credit card points on sign up in May

Everyone loves getting something for nothing, and credit card bonus points on sign up are no exception. With more and more Australians travelling and spending again post-pandemic restrictions, finding a credit card that maximises your points on sign up can be a competitive option for some cardholders.

Luckily, RateCity research has done the hard work for you by compiling a list of credit cards offering the most bonus points on sign up in May. This is one way you can compare your card options, as well as view the biggest bulk points on sign up offers.

These offers may benefit different credit card customers with their own individual financial needs. Remember to compare not just the points on offer, but the interest rates and fees charged as well.

For May, the top credit cards offering the greatest points bonus on sign up, according to the RateCity database, are:

  1. 200,000 pointsSt. George/Bank of Melbourne/BankSA
  2. 200,000 pointsCiti Prestige
  3. 150,000 pointsQantas Money Premier Titanium
  4. 150,000 points Bank of Queensland Platinum Visa

Credit card bonus points offers - leaderboard for May

RateCity’s database shows that the following credit cards are offering the highest number of bonus points on sign up for May.

This table is based on sign up points numbers only, regardless of the type of rewards offered. The program may refer to an affiliated frequent flyer rewards program or the card issuer’s internal rewards program.

Card issuerCardProgram NamePoints
CitiPrestigeCiti Rewards

200,000

St.George Bank/Bank of Melbourne/BankSAAmplify SignatureAmplify Rewards

200,000

Bank of QueenslandPlatinum VisaQ Rewards

150,000

Qantas MoneyPremier TitaniumQantas Frequent Flyer

150,000

WestpacAltitude BlackAltitude Rewards

140,000

NABRewards SignatureNAB Rewards

140,000

ANZFrequent Flyer BlackQantas Frequent Flyer

130,000

WestpacAltitude Black QantasQantas Frequent Flyer

120,000

NABRewards Signature QantasQantas Frequent Flyer

120,000

BankwestMore World MastercardMore Rewards

115,000

Source: RateCity.com.au. Data accurate as of 10/05/22

Where could your rewards points take you?

RateCity research shows there are currently 16 credit cards offering enough Qantas frequent flyer bonus points on sign up to take you on an international flight, and four that could earn you return flights to Europe.

And if you’re still not ready to consider international travel, there are also a multitude of credit cards offering bulk points on sign up to take you to Australian capital cities.

DestinationQantas Frequent Flyer points cost from Sydney
Melbourne16,000
Brisbane16,000
Canberra16,000
Hobart19,200
Adelaide19,200
Darwin32,400
Perth36,000
Denpasar (Bali)38,300
Singapore50,400
Honolulu63,000
Japan63,000
Los Angeles83,800
London111,400
Rome132,400

Source: RateCity, data accurate as of 11/05/22.

From the RateCity database

According to the RateCity database (accurate as of 31/03/2022):

  • The average purchase rate is 16.20%
  • The average annual fee is $131.72

Purchase rates and annual fees are generally higher than average for rewards credit cards offering bulk points on sign up. These costs typically help to pay for credit card rewards programs. Card issuers may also set higher minimum spending limits for these types of credit cards as they are ideal for customers with higher incomes who could afford it.

If paying for higher annual fees and purchase rates doesn’t suit your budget, consider comparing some of the lower rate and fee credit card options available. The figures above may help you during your comparison as a benchmark to assess how competitive different card options are.

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This article was reviewed by Personal Finance Editor Mark Bristow before it was published as part of RateCity's Fact Check process.

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