Key highlights
Do you use your credit card to chase points deals and get the best bonus offers you can? There are a variety of credit card choices available that could net you a six-figure points bonus, simply by joining up and making a minimum spend.
Points hacking is a popular credit card strategy, as it allows users to berewarded for their spending and access exclusive offers from credit card reward points. Depending on the reward program, these could range from travel and holiday bonuses to retail discounts and other exclusive deals.
This month, there are several credit card options offering competitive six-figure bulk bonus rewards points ranging from 150,000 to 275,000 points.
Some of the best rewards credit cards, offering the highest sign-up reward points, in the RateCity Database for June 2024
Card | Company | Purchase Rate % | Points | Conditions |
Citi Prestige Card (Citi Rewards Program) | Citi | 21.49 | 275,000 | Spend $10,000 within first 3 months. |
Citi Premier Card | Citi | 21.49 | 200,000 | Spend $7,000 within the first 3 months and earn 150,000 bonus points. Plus, 50,000 bonus points if you keep the card for 1 year. |
Rewards Black | ANZ Banking Group Limited | 20.99 | 180,000 | 180,000 ANZ Reward Points and $150 cashback when you spend $3,000 within the first 3 months. |
Rewards Signature Card | National Australia Bank Limited | 20.99 | 160,000 | 120,000 bonus points when you spend $3,000 within the first 60 days and 40,000 bonus points when you keep the card for over 1 year. |
Amplify Signature (Amplify Rewards) | St.George Bank | 19.49 | 150,000 | Spend $12,000 on eligible purchases within the first 12 months from card approval. |
Altitude Black (Altitude Rewards | Westpac Banking Corporation Ltd | 19.99 | 150,000 | 100,000 Rewards Points in year 1 when spend $6,000 within first 120 days and 50,000 points after first eligible purchase in year 2. |
Source: RateCity.com.au. Data accurate as of 01/06/2024.
What to keep in mind about rewards point bonuses
It’s important to remember that points hacking isn’t for everybody. With financial stress on the rise and Australia’s outstanding credit card debt increasing, it’s important to consider whether you can comfortably afford a rewards credit card and get the most value from its points on your household budget.
To get a better idea of if a reward credit card could be right for you, you may want to calculate if the value of the bonus reward points and any other points you may earn as part of your regular household spending will be more than the cost of any interest and fees you may need to pay.
For example, it's possible to get a six-figure bonus points offer when signing up for a rewards credit card, but you may need to hit a minimum spending target in order to benefit from this deal. Because rewards cards often have higher interest rates than more basic “no-frills” credit cards, if you can’t repay these expenses within the interest-free period, those points could cost more than you’d like to pay.
It's also worth keeping in mind that not every credit card rewards point program is created equal. Before signing up, it may be worth looking at how the points can be redeemed to get a better idea of how far they could go when shopping.
When comparing credit cards, a card that aligns with your household’s needs and financial goals should hopefully offer you the most value. Consider a range of different options before applying for any rewards credit card deals, and consider seeking professional financial advice.
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Mark Bristow
Personal Finance Editor
Mark Bristow is RateCity's Home & Personal Finances Editor, and an experienced analyst, researcher, and producer. Focused primarily on Australian mortgage and home loan expertise, he has been a journalist and writer in the financial space for over ten years, previously researching and writing commercial real estate at CoreLogic. In the years since, Mark has worked for the Winning Group, Expedia, and has seen articles published at Lifehacker and Business Insider.
Mark Bristow is RateCity's Home & Personal Finances Editor, and an experienced analyst, researcher, and producer. Focused primarily on Australian mortgage and home loan expertise, he has been a journalist and writer in the financial space for over ten years, previously researching and writing commercial real estate at CoreLogic. In the years since, Mark has worked for the Winning Group, Expedia, and has seen articles published at Lifehacker and Business Insider.
