TOP Credit Cards

Below is my ranking of the some of the best current credit cards on the market.  These are updated regularly as offers appear throughout the year.  If you see a better offer please let me know!

You should do a final double-check of the terms/conditions if you are preparing to signup.

1. American Express Velocity Escape Card
LINK: American Express Velocity Escape - $0 Fee, 7,500 Points (offer up 31 Jan, 2014)

• $0 signup fee, $0 ongoing annual fees.  
• 7,500 points for spending $300 within 90 days; for a total of 7,800 points. 
• Also, when redeeming for a flight you get one free checked bag ($30 value).  
• Must not have been a previous card holder of this product or any AMEX card in the past 12 months. (However, I've applied for several and never had a bonus withheld)
• Earn up to 2 Velocity Points for every $1 spent on your Card with Virgin Australia and 1 Point for every $1 spent everywhere else.
• Must have an income of $40,000.
• Sample redemption 7,800 miles, on a one-way flight leaving in a fortnight:
• Perth to Esperance (5,800 points + $45 fees) Paid ticket costs $200.
• Melbourne to Sydney (7,800 points + $0 fees) Paid ticket costs $129.
• Sydney to Sunshine Coast (5,800 points + $20) Paid ticket costs $115.

2. American Express Velocity Gold Card
LINK: American Express Velocity Gold - $99 Fee, NOW 20,000 Points! (offer up 31 Jan, 2014)

• $99 signup fee, $199 fee after 1st year. 
• 15,000 20,000! points for spending $500 within 90 days; for a total of 20,500 points. 
• Also, when redeeming for a flight you get one free checked bag ($30 value).  
• Must not have been a previous card holder of this product or any AMEX card in the past 12 months. (However, I've applied for several and never had a bonus withheld)
• Comes with 2 complimentary passes to the Virgin lounge.  Depending on how valuable these are to you (normally $65/person) this card rises in value. 
• Earn up to 2 Velocity Points for every $1 spent on your Card with Major supermarket and petrol stations in Australia
• Earn up to 2 Velocity Points for every $1 spent on your Card with Virgin Australia and 1 Point for every $1 spent everywhere else.
• Must have an income of $40,000.
• Sample redemption 15,500 miles, on a return flight leaving in a fortnight:
• Perth to Esperance (11,600 points + $87 fees) Paid ticket costs $401.
• Melbourne to Sydney (15,600 points + $0 fees) Paid ticket costs $258.
• Sydney to Sunshine Coast (14,100 points + $18) Paid ticket costs $230.

• Sample redemption 20,500 miles, on a return flight leaving in a fortnight:
• Brisbane to Adelaide (18,400 points + $42 fees) Paid ticket costs $330.
• Brisbane to Hobart (18,400 points + $29 fees) Paid ticket costs $399.
• Sydney to Townsville (20,600 points + $17) Paid ticket costs $398.

3. American Express Velocity Platinum CardLINK: American Express Velocity Platinum - $349 Fee, 50,000 Points (offer up 31 Jan 2014)

  

• $349 signup fee, $349 fee after 1st year. 
• 50,000 points for spending $500 within 90 days; for a total of 50,500 points. 
• Also, when redeeming for a flight you get one free checked bag ($30 value).  
• Must not have been a previous card holder of this product or any AMEX card in the past 12 months. (However, I've applied for several and never had a bonus withheld)
• Comes with 2 complimentary passes to the Virgin lounge.  Depending on how valuable these are to you (normally $65/person) this card rises in value. 
• Earn up to 3 Velocity Points for every $1 spent on your Card.
• Complimentary return flight from select major cities. See page 35 of this AMEX product disclosure for which cities. (I value this at around about $300)
• Must have an income of $65,000.

This card comes at a steep price. However as an example, if redeemed for flights between Brisbane and Melbourne, you would get two return trips using the points, and then the complimentary flight.  Two return flights, along with the free flight, in this sample scenario would cost at least $600 to $700 or higher if paying cash for tickets.  You're also getting two lounge passes.


4. Qantas American Express Discovery Card
LINK: Qantas American Express Discovery - $0 Fee, 5,000 Points (offer up 31 Jan 2014)

 

• $0 signup fee, $0 fee after 1st year. 
• 5,000 points for spending $300 within 90 days; for a total of 5,300 points. 
• An additional 2,500 points will be awarded after the first Card spend on purchases of selected Qantas products and services in Australia.
• Must not have been a previous card holder of this product or any AMEX card in the past 12 months.  
• Earn up to 1 Qantas Point for every $1 spent on your Card.
• Must have an income of $35,000.

5.  HSBC Platinum Qantas Credit Card
LINK: HSBC Platinum Qantas Card - $199 Fee, 35,000 Points (offer up 31 Dec 2014)

 

• $199 signup fee, $199 fee after 1st year. 
• 35,000 points for 1 eligible purchase within 90 days.  (I have researched extensively what the 'eligible' purchase is and there is no further description on the HSBC website.  Apart from cash advances and the like, which are never deemed eligible purchases, when you call in to activate your card you should ask the HSBC agent about 'what' is an eligible purchase.)
• Also, when redeeming for a flight you get one free checked bag ($30 value).  
• Comes with 2 complimentary passes to the Qantas lounge.  Depending on how valuable these are to you (normally $65/person) this card rises in value. 
• Earn up to 2 Qantas Points for every $1 spent on your card for Qantas purchases.
• Earn up to 2 Qantas Points for every $1 spent on your card overseas.  (You are also charged 3% for overseas purchases, which I feel negates any benefit you get from the double points you earn for these overseas purchases.)
• Must have an income of $60,000.
• Sample redemption 36,000 miles, on a return flight leaving in a fortnight:
• Perth to Hobart (36,000 points + $81 fees) Paid ticket costs $743.
• Cairns to Launceston (36,000 points + $78 fees) Paid ticket costs $627.
• Adelaide to Townsville (36,000 points + $90) Paid ticket costs $631.