Frequent Flyer Credit Cards

Compare the best frequent flyer credit cards for Qantas and Virgin. Use our rewards calculator to estimate your net value, find top earn rates, and get bonus point offers for domestic & international flights.

Checked by Kredmo team.

Updated on 20 Aug, 2026

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Guide

Best Frequent Flyer Credit Cards Guide

How We Rank the Best Frequent Flyer Cards

At Kredmo, we use a data-driven Value Methodology to rank every card on this page:

Sign-Up Bonus Impact: We analyze the true value of 100k+ bonus flyer points or cash-back offers after meeting minimum spend.
Points Weighted Earn Rate: We calculate the "dollar per points" value from from actual aveage Australian household spending splits (e.g., 35% Groceries, 15% Fuel, 20% Utilities) to show to best estimate what you could earn.
Capped and Uncapped Points: We calculate the earn rate caps or "Tiered Earn Rates" for cards with both spending amount maximums and point earning maximums.
Redeem Points Dollar Value: We calculate the dollar value from earned frequent flyer points for each frequent flyer rewards program for each redeem category cash back, gifts cards, domestic and international flights.
Cost Efficiency: We factor in the cost of the annual fee so to evaluate whether your frequent flyer rewards earned outweigh the annual fee or not to reveal the Year 1 Net Profit. Ensuring your rewards are an asset, not an expense.

How Kredmo Calculates Your Net Frequent Flyer Points $ Value

At Kredmo, we believe transparency is the key to choosing the right credit card. Our Net Frequent Flyer Points $ Value is a data-driven estimate of the net Rewards financial benefit you could receive during your first year of card membership.

We use a specific three-step formula to convert complex bonus points or cashback offers into a clear dollar figure:
1
Sign-Up Bonus Valuation: We convert the headline bonus points (e.g., 100,000 points) into a dollar value based on a conservative redemption average of 0.5 to 1.0 cents per point. This represents the standard "floor value" for redemptions like digital gift cards and cashback in the Australian market.
2
Annual Spend Projections: We calculate the points earned from your projected annual spending based on the card's specific earn rate (e.g., 1.25 points per $1 spent). We then convert these points into their equivalent dollar value to show what your "monthly" spending is actually worth.
3
The 'Net Value' Deduction: To find the final figure, we subtract the first-year annual fee from the total sum of points and cash back expected to be earned. The resulting Rewards $ Value
shown in our table represents your true "New Rewards $ Value"—in terms of Reward points and cash back of the value you receive after the card has paid for itself.
Note: Our calculations assume you pay your statement balance in full each month. Because rewards credit cards carry high interest rates (often 20% p.a. or more), interest charges are not factored into this value as they would quickly negate the benefits earned.

Understanding The
Types Of Rewards Programs

Most Australian credit cards are tied to one of three primary program types:

Airline Frequent Flyer Programs:

These cards let you directly earn points for airlines like Qantas or Velocity (Virgin Australia), with points usually transferred to your airline account each month.

Bank-Specific Rewards:

Banks like CommBank (Awards), ANZ (Rewards), and Westpac (Altitude) offer internal points systems that are flexible for gift cards, cashback, or airline transfers.

Direct Cashback & Retail:

Some cards focus on cashback or are co-branded with retailers like Coles (Flybuys) or Woolworths (Everyday Rewards), giving discounts directly on your shopping.

Is a Frequent Flyer Rewards Program Worth It?

A frequent flyer rewards program is generally worthwhile if the value of the rewards and perks you use exceeds the cost of the annual fee. Before applying, it is helpful to use Kredmo's rewards points dollar value calculator to estimate your expected annual spend to see if your points will outweigh the card's costs.

Eligibility Checklist: Are You Ready to Apply?

Before you hit "Apply," ensure you meet these standard Australian criteria to protect your credit score:

Minimum Income: Basic rewards cards typically require $35,000 p.a., while "Black" or "Signature" cards usually require $75,000–$100,000+.
Residency: You generally must be an Australian citizen or Permanent Resident, though some providers accept 457 or 482 visa holders with significant time remaining.
Good Credit History: Have a good credit history and no payment defaults.
The "24-Month Rule": Most big banks (like ANZ, Westpac, or NAB) will not grant you a sign-up bonus if you have held a card with them in the last 24 months.

FAQ

Got Questions?
We've Got Answers

A frequent flyer credit card is a type of credit card that earns frequent flyer points for every dollar spent. These points can be used to get free flights, upgrades, and other travel perks.

Credit cards linked to an airline's loyalty program are typically used to earn frequent flyer points or miles. When you use these credit cards to make purchases, you will earn a certain number of points per dollar spent. These points can then be redeemed for a variety of benefits, including flights, upgrades, hotel stays, and other travel-related services.

The value of points varies depending on the airline and how they are redeemed. For example, redeeming points for domestic flights or upgrades may provide better value than redeeming points for international flights.

To obtain a frequent flyer membership card, you must first enrol in a frequent flyer program offered by the airline. This is usually possible through the airline's website.

When you sign up, you'll be given a membership number that you can use to earn points on flights and other partnered services, and that you can use to link to your frequent flyer credit card. Some airlines may provide a physical frequent flyer card, while others may provide digital cards via their mobile apps.

Signing up for the Velocity Frequent Flyer Program is free. You can also get the Qantas Frequent Flyer Program for free with with some Qantas points earning credit cards, otherwise the memership cost is $99.50.

Here are several ways to earn frequent flyer travel points:

● Using a frequent flyer points credit card for everyday purchases, large purchases, booking airline tickets and other holiday travel services.

● Travelling with the airline or one of its partners.

● Using the airline's partners to book hotels, car rentals, and other travel services.

● Shopping at affiliated stores.

● To get even more points, keep an eye out for special promotions or bonus point offers when choosing a frequent flyer credit card.

The "best" airline rewards program is determined by the airline you prefer to fly with and your spending habits.

Qantas Frequent Flyer and Virgin Australia's Velocity Frequent Flyer are among the most popular programs.

Consider factors such as points earning rate, redemption options, program fees, and the availability of flights to your preferred destinations when evaluating a program.

It is determined by the card. Some cards are tied to specific airlines and their partners, whereas others provide greater flexibility, allowing you to redeem points with multiple airlines.

Many frequent flyer credit cards offer sign-up bonuses, which reward you with a large number of points if you meet certain spending requirements within the first few months of your account.

Annual fees vary according to the benefits and rewards structure of the card. Fees for premium cards with more perks are typically higher.

Point expiration policies differ depending on the card. Some points may never expire, while others may expire if the account is inactive for an extended period of time.

Many frequent flyer cards charge fees for foreign transactions, but some cards waive it.

Most credit cards allow for additional cardholders. These cardholders' purchases typically earn frequent flyer points for the primary account.

Cardholders can usually manage their accounts and track points through the card issuer's online banking platforms or mobile apps.

In addition to earning points, these cards frequently include travel-related benefits such as complimentary travel insurance, airport lounge access, travel credit, and concierge services.

Points can be redeemed through the credit card company's rewards program, which is usually accessible through an online portal where you can book flights, hotels, or other rewards.

Trust!

Why Trust
Kredmo?

80+ Cards Compared: We track over 20+ Australian providers to give you a full market view, not a filtered one.
User-First Logic: Our rankings are built on data-driven “Value Methodology,” not whether we have a partnership with provider or not.
Total Independence: We show you the best credit cards currently available in the Australian market and give you the tools to make the best decision for your unique financial journey.
Licensed: We operate under ACL 518788.