The biggest credit card bonus points deals this January – up to 300k points on offer

Looking to kick 2023 off with a bang? Look no further than these competitive credit cards offering six-figure points bonuses on sign up. 

This month, there are ten credit cards offering bulk points bonuses on sign up ranging from 100,000 to 300,000 points. These rewards points may be exchanged for generous perks and benefits, such as booking flights, hotel accommodation, rental car hire, white goods, electronics, appliances, concert tickets, and much more. 

According to the RateCity database, the top credit cards offering the greatest points bonus on sign up in January 2023 are:

1. 300,000 points – Citi Prestige
2. 150,000 points – St. George/Bank of Melbourne/BankSA Amplify Signature
3. 150,000 points – Qantas Money Premier Titanium
4. 150,000 points – Bank of Queensland Platinum Visa
5. 150,000 points – ANZ Rewards Black

Credit card bonus points offers - leaderboard for January

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. 

Source: RateCity.com.au. Data accurate as of 18/01/2023

It’s worth noting that different credit card issuers have their own rewards programs, with the value of each issuer’s points differing. For example, 50,000 points with one credit card rewards program may hold less purchasing power than 50,000 points with another credit card rewards program. 

Credit card issuers partner with different affiliated stores for their rewards programs, meaning that if you prefer to shop with one retailer, it’s best to ensure that your rewards program is affiliated with them.  

It's crucial that you do your own research around which rewards program best suits your goals and financial situation, and that you check the issuer’s T&Cs to ensure you’re familiar with how it values its points.

Comparing credit cards: from the RateCity database

If you’re shopping around for your next reward points credit card, you may be curious to know how that card sits in comparison to other options.

According to the RateCity database (accurate as of 31/12/2022):

• The average purchase rate is 16.16%
• The average annual fee is $139.05

You can use these figures as a benchmark for your comparison to help you determine how competitive different card options may be.  

Remember that credit cards that offer generous perks and rewards typically come with higher-than-average rates and fees, as these additional charges help to cover the costs of rewards programs. They may also have higher income minimums than standard credit cards that customers will need to meet as part of the eligibility criteria. The type of customer approved for these reward program/premium credit cards generally can afford these higher costs. 

If a premium credit card doesn’t suit your budget, as there is more to a credit card than the perks on offer, consider comparing some of the lower rate and fee options available.

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