Best of the Best 2023: Best-Value Rewards Credit Cards


Who doesn't love getting something for nothing? Our fondness for a freebie has fuelled an extraordinary rise in rewards programs.

Credit cards have been tapping into our love of a freebie for years, offering an opportunity to earn points in return for card spending.

But loyalty programs don't come cheap, and reward credit cards have traditionally come with higher interest rates than standard offerings.

best of the best 2023 best value rewards credit cards

So, the trick is to pay off the card balance in full each month before interest charges apply.

Commonwealth Bank has won again this year with its Awards Credit Card. Cardholders can choose to earn CommBank awards or opt in to earn Qantas points for $30 a year.

Earn one awards point for every $1 on the card, up to 50,000 points annually, or earn 0.4 Qantas points for every $1 spent, up to 20,000 annually. The card has an annual fee of $59 and the purchase rate is 20.24%.

Vibha Kanwar, CommBank's general manager, credit cards, says the card is popular for daily spending. "It often attracts customers who are willing to pay off their full balance monthly," she says.

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