Earn up to 275k rewards points: Biggest sign-up rewards points for credit cards in August

Looking for some of the biggest rewards bonuses on sign up for credit cards this month? Look no further, as we explore some of the six-figure rewards point bonuses on offer from leading credit card providers. 

Reward points are generally redeemed through your credit card provider's rewards program in exchange for perks and benefits like new appliances and electronics, to luxury accommodation, rental car discounts and much more. 

However, earning the rewards points required for these perks can be a time consuming and costly process, which is why sign-up bonuses can be so competitive for credit card customers. 

This August, compare from a range of competitive options with offers starting from 100,000 points, all the way to 275,000 points. 

These credit cards currently offer the highest sign-up points bonuses:

• 275,000 points – Citi Prestige
• 180,000 points – ANZ Rewards Black
• 150,000 points – St. George/Bank of Melbourne/BankSA Amplify Signature
• 150,000 points – Bank of Queensland Platinum Visa
• 150,000 points – Qantas Money Premier Titanium

Credit card bonus points offers: August

Source: RateCity.com.au. Data 03/08/2023. 

What to keep in mind about reward points bonuses

Points purchase power

It’s important to keep in mind that each credit card provider has its own unique rewards programs, with the value of its points varying significantly. The value of a point may not be equal to that of another provider’s rewards program. 

For example, 50,000 points with one credit card rewards program may not hold the same purchasing power as 50,000 points with another credit card rewards program.

This is why it’s worthwhile researching the value of reward program points before you sign up. Hop online and look at different credit card provider’s rewards programs to see how far your points could go. A good rule of thumb is to compare standard items like toasters or kettles. 

Affiliated retailers

Credit card providers will collaborate with various affiliated retailers for their rewards programs. However, not every store or brand will suit your spending habits or lifestyle.

For example, if you usually fly with Qantas but choose a Virgin Velocity frequent flyer credit card because it has a large sign-up points offer, the benefits may not outweigh the costs over time. It may be worth double checking that the card provider is affiliated with goods and services that you will actually use.

Compare rates and fees

There is more to a credit card than just the rewards program and points offered on sign up. It's crucial to compare essential factors such as interest rates, upfront and ongoing fees, and the number of interest-free days provided. Choosing a card that aligns with your needs and spending habits will always offer greater value.

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