Credit card rewards programs for points and travel

If you pay for everything with your credit card, it's time to take an advantage

		Purchase % p.a.	Annual Fee	Interest Free	Balance Transfer
	Virgin Flyer Credit Card You'll earn 1 Velocity Point per $1 spent up to $1,500 per month and then 1 Velocity Point for every $2 spent.	20.99% p.a.	$99.00	up to 44 days	0% p.a. for 6 mths
	ANZ Frequent Flyer Platinum Receive 20,000 Bonus Qantas Frequent Flyer points	19.74% p.a.	$295.00	up to 55 days	-

When it comes to rewards on credit cards, what do you look for in value for use? DO you look for the greatest reward points for spend or do you look at value for points earned?

That is my two end view of rewards credit cards, it’s no good building large amounts of rewards if you can’t get rewarded, that’s why you should look at the rewards you can redeem with the amount you spend through your rewards credit card.

Lots of people use reward cards for their main credit card, these people know that in order to maximise rewards they need to organise lots of payments through the credit account. This can lead into financial trouble if you’re not paying back credit incurred soon after charges are made as debt can build quickly.

The trick is not to get into debt while channelling all you’re spending through your reward credit card. Not to over spend either, you need to work out what you can and should safely spend on this reward scheme and the amount of rewards earned.

Finding out a reward credit cards true value for you:

Work out what you can spend
Work out the amount of rewards earned
Work out what you can be rewarded over time

This is not the complete list of rewards credit cards available to you, however is a varying sample of cards from providers you may not have considered before. It’s possible you will find greater value from a rewards credit card not offered by a major lender. Click on the links to find out more.

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