Earn 300,000 rewards points: biggest credit card bonus points offers this February

If you’re searching for a new credit card and bonus rewards points are a priority for you, look no further. RateCity has compiled a list of the credit cards offering the biggest points bonuses at sign up for the month.

Rewards programs are one of the most competitive benefits of using a credit card, and rewards points may be exchanged for perks, like booking flights and upgrades, hotel accommodation, electronics, white goods, new appliances and much more. 

In February, there are 13 credit cards offering bulk bonus points on sign up, ranging from 100,000 points to 300,000 points. According to the RateCity database, the top credit cards offering the greatest points bonus on sign up in February 2023 are:

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

ANZ Rewards Black

• Apple, Google & Samsung Pay
• Balance transfer

Bonus Points

180,000 extra ANZ Reward Points and $150 back to your new ANZ Rewards Black credit card when you spend $3,000 on eligible purchases in the first 3 months from approval.*

This competitive credit card offers access to special events, Australian rental vehicle excess insurance, international travel insurance, concierge services and partner discounts.

Purchase rate p.a.

20.99%

Annual fee

$375

More details

FeaturedAustralian Credit Licence: 234527 ANZ terms and conditions

Credit card bonus points offers - leaderboard for February

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

Keep in mind that different card issuers have different rewards programs and the value of each issuer’s points will differ. 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. It’s worthwhile researching what the value of your points bonus could actually be exchanged for. 

It’s also worth noting that card issuers partner with a range of affiliated retailers through their rewards programs, so it’s crucial you ensure the issuer you prefer is linked to goods and services you will actually use. For example, if you only ever fly Qantas but choose a Virgin frequent flyer affiliated credit card because of the bulk points offered on sign up, this may not suit your needs. 

Please also remember that there is more to a credit card than the rewards points offered on sign up. It’s always important to 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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