Credit card issuers are under pressure to sign up new customers at the moment. And that has led to the proliferation of some amazingly generous sign-on deals to entice new users.
Credit cards are promoting the opportunity to earn thousands of frequent flyer points, just by taking out a new credit card and meeting some fairly easy spending requirements.
20,000 rewards points, 50,000 Velocity Frequent Flyer points, 100,000 Qantas QFF Points. Some of the deals on offer now from banks and other credit card companies can get you overseas quickly and cheaply.
Where can you go with some bonus QFF or Velocity frequent flyer points? Plenty of places.
How many QFF points do you need to fly to London?
A return economy flight from Sydney to London paid for using QFF classic rewards (plus taxes and charges) requires just over 110,000 QFF points.
A return economy flight from Perth to London paid for using QFF classic rewards (plus taxes and charges) requires just over 102,000 QFF points.
How many Velocity Frequent Flyer points do you need to fly to London?
A return economy flight from Sydney to London paid for using Velocity frequent flyer points will require over 100,000 points. The exact amount will depend on the airline, route and stopovers you choose.
How many QFF points do you need to fly to Bali?
A return economy flight from Melbourne to Denpasar (Bali) paid for using QFF points (plus taxes and charges) requires 40,600 Qantas points.
How many Velocity frequent flyer points do you need to fly to Bali?
A return economy flight from Sydney to Denpasar (Bali) paid for using Virgin Velocity frequent flyer points (plus taxes and charges) requires 44,600 Velocity points.
One hundred thousand frequent flyer points can get you out of the country and on a great holiday overseas to the destination of your dreams. So here is a quick round-up of three of the most generous frequent flyer points promotions from credit cards now available in Australia.
Virgin Australia Velocity High Flyer Visa credit card
The Virgin Australia High Flyer Visa credit card is promoting a sign on bonus of up to 100,000 Velocity points. Approved applicants get 25,000 points per month for the first three months if you spend $3,000 on eligible transactions in the month. Another 25,000 points is credited to your account after the first 12 months of using the card.
The Virgin Australia Velocity High Flyer Visa credit card also offers one $129 Virgin Australia gift voucher annually (terms and conditions apply) and entry passes to Virgin Australia domestic airline lounges.
Currently the Virgin Australia Velocity High Flyer Visa credit card has a cash advance rate of 20.99 per cent pa with up to 44 days interest-free. Applicants need to be able to show an annual income of $75,000 and be a permanent Australian resident.
The NAB Qantas Rewards Signature Visa credit card
NAB's Qantas Rewards Signature Visa credit card gives you 120,000 bonus Qantas Frequent Flyer points when you keep the card for 12 months after spending $3,000 in first 2 months. The bonus QFF points are awarded as follows - 90,000 bonus Qantas Points when you spend $3,000 in the first 60 days plus an extra 30,000 bonus Qantas Points when you keep your card open for more than 12 months. Other terms and conditions may apply.
The NAB Qantas rewards Signature Visa has a purchase interest rate of 19.99 per cent pa, an annual fee of $395 and up to 44 days interest-free.
The NAB Qantas Rewards Signature Visa has an earn rate of 1 Qantas point per dollar spent on purchases up to $5,000. Over $5,000 the earn rate is 0.5 points per dollar.
ANZ Rewards Black Visa credit card
ANZ Bank's Rewards Black is promoting an offer of 100,000 rewards points which can be converted to around 44,000 Velocity Points. You get the points, plus $100 cash back if you send $4,000 or more on eligible purchases within three months of approval.
The ANZ Black Rewards Visa earns you 2 points per dollar spent on eligible purchases up to $5,000 per month.
The ANZ Rewards Black Visa offers Apple Pay and Google Pay, access to airport lounges and personal concierge service.
The ANZ Rewards Black Visa has an annual fee of $375, a purchase interest rate of 20.24 per cent pa and up to 55 days interest-free.
Compare rewards and frequent flyer linked credit cards from Australia's banks, credit unions and other card issuers at InfoChoice.
The information contained on this web site is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser. If you or someone you know is in financial stress, contact the National Debt Helpline on 1800 007 007.
