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March credit card bonus points roundup

March credit card bonus points roundup

07 Mar, 2020 - 7 min read

Attention points chasers! If you’re thinking about taking out a new credit card, there are a range of credit card sign-up bonuses on the table if you know where to look.

Latest credit card news

The latest credit card figures from the RBA (December 2019) showed that while millions of Australians have moved away from credit cards, the Christmas shopping period saw those who still use them go to town with them. The average account holder used their plastic 19.8 times in December, the highest number on record.

This month, the Reserve Bank of Australia (RBA) cut the cash rate to a record low of 0.50 per cent. What does this mean for credit cards? Typically, absolutely nothing. Credit card rates generally don’t move with the cash rate, with the average purchase rate at 17 per cent. This is why it’s up to you to get the best bang for your buck when it comes to credit cards.

From the RateCity database

According to the RateCity database (accurate as at 4 March):

The average purchase rate is 17.07%
The average annual fee is $118.74
The number of credit cards without annual fees is 31, 14.69% of the credit card market.

It’s important to remember that annual fees typically help to pay for rewards programs. But if paying for annual fees and purchase rates doesn’t suit your budget, you can keep the above figures in mind. This way you know where your options fit on a scale of high to low fees and rates in the market.

Here are the latest credit card deals on offer:

1.Highest sign-up bonus for rewards programs

The highest sign-up points bonus for March was a whopping 200,000 points to be earned over two years for customers signing up to the Amplify Signature (Amplify Rewards) credit card (if conditions are met). This comes from credit card provider family BankSA, Bank of Melbourne and St. George Bank.

If you’re not a fan of the slow burn and want to earn a sign-up bonus sooner than two years, Westpac’s Altitude Black Bundle (Altitude Rewards) credit card offers 190,000 points in the first 90 days (if its conditions are met).

Top 5 highest sign-up bonuses for rewards programs

BankSA, Bank of Melbourne & St. George, Amplify Signature – 200,000 points
Westpac Altitude Black Bundle – 190,000 points
Citi Prestige – 150,000 points
ANZ Rewards Black – 150,000 points
Westpac Altitude Black – 150,000 points

Credit cards with the highest sign-up bonuses for rewards programs

Provider	Card name	Purchase rate	Annual fee	Bonus points	Conditions
BankSA, Bank of Melbourne & St.George Bank	Amplify Signature (Amplify Rewards)	19.74%	$279	200,000	if you spend $12,000 on eligible purchases in the first year and another $12,000 on eligible purchases in the second year.
Westpac	Altitude Black Bundle (Altitude Rewards)	20.49%	$449	190,000	if you spend $4,000 on eligible purchases on your Mastercard in the first 90 days and if you spend $3,000 on eligible purchases on your Amex in the first 90 days.
Citi	Prestige (Citi Rewards Program)	21.49%	$700	150,000	when you spend $5,000 in the first 90 days from approval.
ANZ	Rewards Black	20.24%	$375	150,000	when you spend $4,000 on eligible purchases within the first 3 months from approval.
Westpac	Altitude Black (Altitude Rewards)	20.49%	$250	150,000	if you spend $4,000 on eligible purchases in the first 90 days from approval.

Source: RateCity.com.au

Note: Data accurate as at 1^st March 2020.

2.Biggest sign-up bonus for frequent flyer programs

The credit card with the highest frequent flyer sign-up bonus comes from the Qantas Premier Titanium credit card from Qantas Money, with 150,000 points available within 90 days from approval (if conditions are met). Keep in mind that this card is geared towards high earners, with the highest annual fee on the market at $1,200.

This is followed by NAB’s Qantas Rewards Signature Card, with a sign-up bonus of 130,000 frequent flyer points. These points can be earned by spending $3,000 on eligible purchases within 60 days of approval, and when then card is kept open for over 12 months.

Top 5 highest sign-up bonuses for frequent flyer points

Qantas Money Qantas Premier Titanium – 150,000 points
NAB Qantas Rewards Signature Card – 130,000 points
ANZ Frequent Flyer Black – 120,000 points
ANZ Rewards Black – 150,000 points
Westpac Altitude Black Bundle – 100,000 points

Credit cards with the highest sign-up bonuses for frequent flyer points

Provider	Card name	Purchase rate	Annual fee	Bonus points	Conditions
Qantas Money	Qantas Premier Titanium	19.99%	$1,200	150,000	spend $5,000 within 90 days from approval.
NAB	Qantas Rewards Signature Card	19.99%	$395	130,000	if you spend $3000 on eligible purchases within 60 days of approval and when you keep your card open for over 12 months.
ANZ	Frequent Flyer Black	20.24%	$425	120,000	when you spend $4,000 on eligible purchases in the first 3 months from approval.
Qantas Money	Qantas Premier Platinum	19.99%	$299	100,000	80,000 bonus points when you spend $5,000 or more on eligible purchases within 90 days of approval. Plus, an additional 20,000 bonus points after your first anniversary of approval.
Westpac	Altitude Black Bundle (Qantas Rewards)	20.49%	$499	100,000	if you spend $4,000 on eligible purchases on your Mastercard in the first 90 days and if you spend $3,000 on eligible purchases on your Amex in the first 90 days.

Source: RateCity.com.au

Note: Data accurate as at 1^st March 2020.

3.Biggest cashback offers

There are only two credit cards offering cashback as a sign-up bonus in March. These are from Commbank and Virgin Money.

Commbank’s Low Rate Mastercard offers customers 5 per cent cashback on eligible purchases, up to $100 per month for the first three months. And Virgin Money’s Low Rate Card offers customers 10 per cent cashback to spend on the first 3 months, capped at $100.

Cashback offers on credit cards

CBA Low Rate Mastercard – 5 per cent, up to $100 per month
Virgin Money Low Rate Card – 10 per cent, capped at $100 total

Credit cards with cashback offers

Provider	Card name	Offer details	Conditions	Offer end date
CBA	CBA Low Rate Mastercard	Enjoy 5% cashback on eligible purchases, up to $100 per month, for the first three months. Apply by 30 April 2020.	The 5% cashback is based on eligible purchases made on your card in the first three months from activation up to the value of $100 per month (excludes balance transfers, cash advances and any purchase that is reversed or refunded), each month is calculated as a 30-day period. For more conditions, please visit provider website.	30/4/20
Virgin Money	Virgin Money Low Rate Card	0% p.a. for 14 months on balance transfers plus receive 10% cashback on spend in the first 3 months (capped at $100 total).	Balance transfer rate reverts to cash advance rate thereafter. Enjoy an ongoing half annual fee ‚ saving you $50 each year. T&Cs apply.	10/3/20

Source: RateCity.com.au

Note: Data accurate as at 1^st March 2020.

Compare credit cards today

Regardless of the sort of bonus and points you’re trying to score, your best bet for making the most out of any credit card choice is to compare your options.

Whether it’s for a new card or one you’re thinking of upgrading to, comparing what’s out there gives you the an understanding of the best cards to score those point hacks and credit card bonus offers you’re looking for, and could keep you flush with frequent flyer points or something else lucrative for time to come.

Disclaimer

This article is over two years old, last updated on March 7, 2020. 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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Product database updated 28 Nov, 2024

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.