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Biggest bonus points offers: top credit card points on sign up in May

Biggest bonus points offers: top credit card points on sign up in May

11 May, 2022 - 3 min read

Everyone loves getting something for nothing, and credit card bonus points on sign up are no exception. With more and more Australians travelling and spending again post-pandemic restrictions, finding a credit card that maximises your points on sign up can be a competitive option for some cardholders.

Luckily, RateCity research has done the hard work for you by compiling a list of credit cards offering the most bonus points on sign up in May. This is one way you can compare your card options, as well as view the biggest bulk points on sign up offers.

These offers may benefit different credit card customers with their own individual financial needs. Remember to compare not just the points on offer, but the interest rates and fees charged as well.

For May, the top credit cards offering the greatest points bonus on sign up, according to the RateCity database, are:

200,000 points – St. George/Bank of Melbourne/BankSA
200,000 points – Citi Prestige
150,000 points – Qantas Money Premier Titanium
150,000 points – Bank of Queensland Platinum Visa

Credit card bonus points offers - leaderboard for May

RateCity’s database shows that the following credit cards are offering the highest number of bonus points on sign up for May.

This table is based on sign up points numbers only, regardless of the type of rewards offered. The program may refer to an affiliated frequent flyer rewards program or the card issuer’s internal rewards program.

Card issuer	Card	Program Name	Points
Citi	Prestige	Citi Rewards	200,000
St.George Bank/Bank of Melbourne/BankSA	Amplify Signature	Amplify Rewards	200,000
Bank of Queensland	Platinum Visa	Q Rewards	150,000
Qantas Money	Premier Titanium	Qantas Frequent Flyer	150,000
Westpac	Altitude Black	Altitude Rewards	140,000
NAB	Rewards Signature	NAB Rewards	140,000
ANZ	Frequent Flyer Black	Qantas Frequent Flyer	130,000
Westpac	Altitude Black Qantas	Qantas Frequent Flyer	120,000
NAB	Rewards Signature Qantas	Qantas Frequent Flyer	120,000
Bankwest	More World Mastercard	More Rewards	115,000

Source: RateCity.com.au. Data accurate as of 10/05/22

Where could your rewards points take you?

RateCity research shows there are currently 16 credit cards offering enough Qantas frequent flyer bonus points on sign up to take you on an international flight, and four that could earn you return flights to Europe.

And if you’re still not ready to consider international travel, there are also a multitude of credit cards offering bulk points on sign up to take you to Australian capital cities.

Destination	Qantas Frequent Flyer points cost from Sydney
Melbourne	16,000
Brisbane	16,000
Canberra	16,000
Hobart	19,200
Adelaide	19,200
Darwin	32,400
Perth	36,000

Denpasar (Bali)	38,300
Singapore	50,400
Honolulu	63,000
Japan	63,000
Los Angeles	83,800
London	111,400
Rome	132,400

Source: RateCity, data accurate as of 11/05/22.

From the RateCity database

According to the RateCity database (accurate as of 31/03/2022):

The average purchase rate is 16.20%
The average annual fee is $131.72

Purchase rates and annual fees are generally higher than average for rewards credit cards offering bulk points on sign up. These costs typically help to pay for credit card rewards programs. Card issuers may also set higher minimum spending limits for these types of credit cards as they are ideal for customers with higher incomes who could afford it.

If paying for higher annual fees and purchase rates doesn’t suit your budget, consider comparing some of the lower rate and fee credit card options available. The figures above may help you during your comparison as a benchmark to assess how competitive different card options are.

Disclaimer

This article is over two years old, last updated on May 11, 2022. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent credit cards articles.

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This article was reviewed by Personal Finance Editor Mark Bristow before it was published as part of RateCity's Fact Check process.

Alex Ritchie

Personal Finance Editor

Alex Ritchie was a Personal Finance Writer and Editor at RateCity, and has been writing about Australian finance for over six years. Her expertise and passion covers loans, credit, superannuation, and closing the gender pay gap, and she aims to help young Aussies to overcome their financial apathy. Alongside RateCity, Alex has been published in numerous publications, including Australia's Money Magazine, Business Insider, Lifehacker Australia, and in health via NPS MedicineWise.