Credit card issuers are getting ready for Christmas, with a number launching new or increased bonus points offers over the past month.
According to the latest Mozo Banking Roundup, ANZ, Commonwealth Bank, National Australia Bank, Bendigo Bank, Qantas Money and HSBC all offered now bonus points, cashback or zero balance transfer deals.
ANZ increased the bonus points available on its Rewards Platinum and Frequent Flyer Platinum Cards from 50,000 to 65,000 when the spend is $2500 or more in the first three months.
Commonwealth Bank introduced a $300 cashback offer on its Low Rate and Low Rate Gold cards when the spend hits $1000.
NAB reverted to a balance transfer offer of 4.99 per cent for six months, after previously offering a zero rate for six months. Bonus points on its Rewards Signature and Qantas Rewards Signature were increased from 90,000 to 100,000 points when the spend is $4000 within the first 60 days.
NAB’s Flybuys Rewards Card was removed from sale.
Westpac announced that from February next year, its Altitude card range would no longer be issued with an American Express companion card. Existing customer have until April to use the card.
ING will waive the foreign currency conversion fee (which is 2.5 per cent) on the Orange One and Orange One Platinum card, when the cardholder deposits at east $1000 each month into any personal ING account.
Bendigo Bank has introduced a 100,000 bonus points offer on its Platinum Rewards Matsercard, when the spend is $2500 in the first 90 days.
Qantas Money increased the bonus points on its Qantas Premier Platinum card from 60,000 to 75,000 points.
HSBC doubled the zero balance transfer offer period on its Qantas Platinum Credit Card to 12 months.
The top balance transfer deals in the market are St George Bank’s offer of zero interest for 24 months on its Vertigo Platinum (there is a 1 per cent transfer fee), Citi’s offer of zero interest for 24 months on its Platinum Card (there is a 1.5 per cent transfer fee) and HSBC’s offer of zero interest for 22 months on its Platinum Card.
The best zero purchase rate deal is Bankwest’s offer of 13 months on its Breeze card.
The lowest purchase rate is 8.99 per cent, offered by both Community First on its McGrath Pink card and Easy Street on its Easy Low Rate card.
The best bonus points deals are being offered by Citibank, Bendigo Bank and NAB. Citi if offering 150,000 points its Prestige card, 120,000 points on its Signature card and 100,000 points on its Platinum Card.
Bendigo Bank is offering 100,000 points on its Platinum Rewards card and NAB is offering 100,000 points on its Rewards Signature card.