Skip to main content Skip to main navigation
Skip to accessibility page Skip to search input

How to compare rewards credit cards

With so many rewards credit cards on the market, it pays to do your homework before choosing one to suit your needs. That way your everyday spending can help you get to the rewards you want faster. Here are some things to look out for when weighing your options.


1. Interest rate

Rewards cards come with a range of interest rates (which are often higher than those on more basic cards). Compare what’s on offer to get the best deal, and remember – if you pay your statement balance off in full each month, you won’t have to pay any interest at all.

2. Annual card fee

Different rewards cards also have a variety of annual card fees, so it’s worth shopping around. Annual card fees tend to be higher on cards that offer additional benefits, such as concierge services and travel lounge passes. Keep an eye out for special offers for new cardholders, as some cards discount the annual fee for the first year.

3. Rewards

Every rewards program is different – the key things to compare are the number of points you earn per dollar spent and what you can redeem them for. Generally, rewards programs allow you to redeem points for flights, accommodation, shopping and other things such as gift cards, but none are exactly alike, so investigate before you commit.

4. Other benefits

As well as points, many rewards cards have a range of built-in travel and other benefits. These include everything from airport lounge entry and complimentary travel insurance to concierge services and purchase protection, so check what these are to find a card with benefits you value.

5. Ad hoc fees

There may be a range of fees for specific functions of the credit card, so read through the features carefully to ensure you’re aware of all attending costs. They might include various transaction fees, balance transfer fees and cash advance fees plus late charges and fees for going over your credit limit.


Want to learn more? Read about our two rewards programs, Altitude Rewards and Altitude Qantas.


Alternatively, explore what Westpac rewards credit cards have to offer.


Related articles

Things you should know

Consumer Credit Cards - Conditions of Use (PDF 258KB)

Altitude Rewards Terms and Conditions (PDF 124KB)

Westpac Credit Cards Complimentary Insurance Policy (PDF 312KB)

Westpac Rewards Credit Cards Concierge Service Terms and Conditions (PDF 917KB)

Credit criteria, fees and charges apply.

Be credit savvy: Before applying, consider a realistic credit limit and check all conditions, interest rates, fees and charges on your selected card.

This information does not take into account your financial needs, individual circumstances or objectives. Read the terms and conditions before making a decision and consider whether the product is appropriate for you.

Rewards points: Depending on your choice of rewards program, you can earn Altitude Points or Qantas Points on your eligible purchases. The earning and redemption of Altitude Points and Qantas Points is subject to the Altitude Rewards and Altitude Qantas Terms and Conditions. You do not receive points if your card account is in arrears for 2 consecutive statement cycles and in other circumstances. You do not earn Altitude Points or Qantas Points on payments to the Australian Taxation Office. A points cap per statement cycle applies to the Altitude and Altitude Platinum Cards. For details, see the Rewards tab on the Altitude or Altitude Platinum product page.

Altitude Rewards: You must be a member of the relevant frequent flyer program to redeem Altitude Points for frequent flyer points. The Altitude Rewards Terms and Conditions and the terms and conditions of the relevant frequent flyer program apply. A joining fee may apply. Availability of Reward flights may be limited. For more information on the Altitude Rewards program, visit

Altitude Qantas: In order to earn and redeem points, you must be a member of the Qantas Frequent Flyer program.

Complimentary insurance covers: Under a binder from the underwriter Allianz Australia Insurance Limited (ABN 15 000 122 850, AFSL 234708), AWP Australia Pty Ltd (ABN 52 097 227 177, AFSL 245631, of 74 High Street, Toowong, QLD 4066, trading as Allianz Global Assistance) has issued an insurance group policy to Westpac Banking Corporation (ABN 33 007 457 141 AFSL, Australian credit licence 233714 [Westpac]) of 275 Kent Street, Sydney, NSW 2000 that allows eligible Westpac account holders and cardholders to claim under it as third party beneficiaries. The terms, conditions, limits and exclusions of the group policy are set out in the Westpac Credit Cards Complimentary Insurance Policy (PDF 312KB) which may be amended from time to time. Westpac does not guarantee the insurance. You can get a copy of the policy booklet by downloading the Westpac Credit Cards Complimentary Insurance Policy (PDF 312KB).

Concierge: Concierge Services are subject to the Westpac Rewards Credit Cards Concierge Service Terms and Conditions available at