ANZ vs CBA vs Westpac vs NAB Credit Cards 2026: Which Wins

CBA Awards and ANZ Rewards Black lead the Big 4 on flexible points transfers, NAB Rewards Platinum has the strongest fee-to-points ratio and Westpac Altitude Black wins for Qantas-aligned travel, so match the card to how you spend, then shop through ShopBack before you pay, where ShopBack Cashback works like a discount, only easier than a promo code. The sign-up bonuses all look enormous on the billboard, but the annual fee you pay is certain, while the points value depends entirely on whether you ever redeem them well, so look past the biggest bonus. On desktop use the ShopBack Chrome extension and on mobile the ShopBack app, so part of the cost comes back as Cashback.

The verdict

For Australian shoppers in 2026, the four Big 4 banks' flagship credit cards solve different problems and the right pick depends on what you actually do with the points. CBA Awards and ANZ Rewards Black lead on flexible points-to-Velocity transfers and broad partner ecosystems. NAB Rewards Platinum has the strongest fee-to-points ratio for everyday spenders with moderate annual spend, at a flat $195 annual fee (NAB). Westpac Altitude Black wins for Qantas-aligned travellers and complimentary Qantas Club access. The Big 4 rewards cards are built around points rather than cash rebates. The biggest mistake is collecting points you never redeem; a rewards card you do not actively use is a $96 to $420 annual fee handed to the bank for nothing.

💡 Go through ShopBack before you book on Booking.com, whichever card you pay with Takes 2 minutes to sign up. No promo codes needed.

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Which credit card is best in Australia for everyday spending?

For everyday spending in Australia, the best credit card is usually the one whose annual fee you can comfortably beat with the rewards you actually earn, and that comes down to two things: how much you put on the card each year, and whether you pay the balance in full every month. If you spend modestly or sometimes carry a balance, a no annual fee card usually leaves you better off. If you spend a lot and always pay in full, a points card can pay back its fee.

Here is how that plays out with real cards, using each issuer's own published figures at the time of writing:

Your everyday spending	Card type to look at	Example and what the issuer says
Under about $20,000 a year, or you sometimes carry a balance	No annual fee card	Bankwest Zero Platinum Mastercard: $0 annual fee, 0% foreign transaction fee, up to 55 days interest free on purchases, 18.99% p.a. ongoing purchase rate (Bankwest)
About $20,000 to $60,000 a year, paid in full	Mid-fee points card	NAB Rewards Platinum: $195 annual card fee, 1.25 NAB Rewards Points per $1 on eligible purchases up to $5,000 a month (then 0.5), plus 0.75 bonus points per $1 on groceries, petrol and public transport (NAB)
Above about $60,000 a year, paid in full	Premium points card	American Express Explorer: $395 annual fee, 2 Membership Rewards points per $1 on purchases (1 point at government bodies), and a $400 travel credit each year on eligible bookings of $400 or more through American Express Travel Online (American Express)

Three checks that matter more than the headline earn rate:

1. Interest wipes out rewards. Interest-free days only apply if you pay the full closing balance by the due date, according to ASIC's Moneysmart. On NAB Rewards Platinum the purchase rate is 22.49% p.a. and on the American Express Explorer it is 23.99% p.a., according to each issuer at the time of writing, so a carried balance costs far more than the points are worth.
2. Caps and tiers. Many cards drop the earn rate after a monthly spend threshold, as NAB does above $5,000 a month.
3. Where the card is accepted. American Express cards are not accepted at every merchant that takes Visa or Mastercard, so Amex holders often keep a second card for those purchases.

Everyday spending on travel and shopping sites

A lot of everyday card spend now goes on sites such as Booking.com, Expedia and Myer. The card you use matters less than the price you end up paying, so for a hotel, compare the same room on Booking.com and Expedia on the same dates, then check whether the booking will be charged in Australian dollars or a foreign currency. If it is charged in a foreign currency, a card with no foreign transaction fee, such as the Bankwest Zero Platinum Mastercard (0% according to Bankwest), avoids the fee that many other cards charge.

Then, before you check out, go through ShopBack to get a post-purchase discount on the order. Booking through ShopBack lowers the cost of the trip, and you still book on the site you chose: open Booking.com on ShopBack or Expedia on ShopBack, tap through, and book as normal. The same works for everyday shopping at Myer on ShopBack.

What is the best rewards credit card in Australia?

The best rewards credit card in Australia is the one that earns the points you will actually redeem, at a fee your spending can justify. Looking across the whole market, not just the Big 4, rewards cards fall into three families, and each suits a different goal:

• Bank points cards such as CBA Awards, ANZ Rewards Black, NAB Rewards Platinum and Westpac Altitude Black. These suit people who bank with that lender and want to transfer points to an airline program. NAB, for example, lets you set up automatic redemption to flybuys, Velocity or ALL Accor points, according to NAB.
• American Express Membership Rewards cards such as the American Express Explorer, which earns 2 points per $1 on purchases (1 point at government bodies) for a $395 annual fee, according to American Express. These usually suit higher spenders who pay in full and travel at least once a year, because the $400 annual travel credit offsets much of the fee for people who use it.
• Airline-linked cards such as Westpac Altitude Black on the Qantas option, which earns Qantas Points directly. These suit people loyal to one airline who want the points to land straight in their frequent flyer account.

Rewards card verdict by goal

Your goal	Card to look at first	Why
Lowest fee while still earning points	NAB Rewards Platinum	$195 annual card fee and uncapped bonus points on groceries, petrol and public transport, per NAB
Highest points earn on general spend	American Express Explorer	2 points per $1 on purchases, per American Express, if your regular shops accept Amex
Qantas Points straight to your account	Westpac Altitude Black (Qantas option)	Direct Qantas earn and Qantas Club invitations, covered in the card-by-card section below
Velocity Points	CBA Awards or ANZ Rewards Black	Both transfer to Velocity Frequent Flyer, covered below

Is a rewards card worth it for you?

Do the sum before you apply. On the American Express Explorer, $40,000 a year of eligible spending earns 80,000 Membership Rewards points at 2 points per $1. Whether those points are worth more than the $395 fee depends entirely on how you redeem them, so price a redemption you would really make, such as a specific flight, before you decide. If you would not use the travel credit or the points, a no annual fee card is usually the cheaper choice.

What is the best no annual fee credit card in Australia?

The best no annual fee credit card in Australia, for most people who pay in full, is one that combines a $0 annual fee with no foreign transaction fee and a long interest-free period. The Bankwest Zero Platinum Mastercard is a clear example: according to Bankwest at the time of writing, it has a $0 annual fee, a 0% foreign transaction fee, up to 55 days interest free on purchases, a $1,000 minimum credit limit and an 18.99% p.a. ongoing purchase rate (Bankwest).

What to weigh when choosing a no annual fee card:

• Rewards. Most $0 fee cards earn no points or very few. That is the trade-off for paying nothing each year.
• Other fees. A $0 annual fee does not mean no fees. Bankwest, for example, lists a $25 late payment admin fee per statement period, a 3% cash advance fee (minimum $4) and a $1.25 paper statement fee you can avoid with eStatements.
• Introductory offers. Many cards advertise a 0% introductory rate for a few months. Check what the rate reverts to and when.
• Interest rate. If you might carry a balance, compare the ongoing purchase rate first, because it will cost you more than any annual fee.

The Big 4 cards covered further down all charge an annual fee on their rewards tiers, which is why people who mainly want a low-cost card usually look beyond them.

Using any of these cards with ShopBack

ShopBack works on the store, not the card: you go through ShopBack to the store, then pay with whichever card you choose. Cashback lowers what you actually pay for an order. It comes back as cash, so it works like a discount on the price, not like points or miles.

You can usually earn your card's rewards and Cashback on the same purchase, because they come from different places. Your card's own terms decide what earns points, and the current Cashback is shown on each store's page on ShopBack before you buy.

Before you book, check the live Cashback rate on Booking.com's ShopBack page; it changes from time to time.

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What's changed at each bank in 2026

The Big 4 rewards line-up has been more stable in the first half of 2026 than in the prior two years, but a handful of shifts are worth noting before you apply:

• American Express Membership Rewards devaluation (December 2025) dropped the transfer ratio to Qantas and to Velocity from 1:1 to 2:1. For cross-shoppers who hold an Amex Platinum plus a Big 4 backup, the Big 4 card's direct earn and direct-transfer route to Velocity or Qantas is now comparatively better than it was 12 months ago.
• Purchase interest rates differ by card: at the time of writing NAB lists 22.49% p.a. on NAB Rewards Platinum and Westpac lists 23.98% p.a. on Altitude Black, so check each issuer's current rate (Westpac, CommBank, ANZ, NAB). Any card carrying a balance still wipes out rewards value.
• CBA Awards annual fee structure ($8/mo entry, $35/mo Ultimate waived at $4,000 statement spend) is unchanged; the periodic Velocity transfer bonuses continue to run 2 to 3 times a year.
• ANZ Rewards Black sign-up bonus has run at the up-to-180,000-point tier across staged spend in promotional windows through early 2026 (ANZ); check the current offer.
• NAB Rewards Platinum has held the $195 flat annual fee, still the lowest fee-to-earn ratio for moderate spenders (NAB). NAB's Qantas Premier Titanium (the dedicated Qantas-branded rail) continues to run separately.
• Westpac Altitude Black annual card fee is unchanged at $295, with the Qantas option adding a further $75 (Westpac). Complimentary Qantas Club invitations on the Qantas option continue to be the strongest Big 4 travel-perk bundle.
• Sign-up eligibility enforcement (minimum income, no prior card of the same series in the past 18 to 24 months) has tightened. Bonus churn strategies that worked in 2022 to 2023 no longer clear application checks reliably.
• Complementary travel insurance terms on Big 4 premium tiers continue to exclude pre-existing conditions, require activation, and cap medical claims. Read the PDS before relying on it for a longer or higher-risk trip.

The 2026 rule of thumb: pick the card that pays back on how you already spend, and skip the sign-up bonuses that require you to spend more than usual to unlock.

Go through ShopBack before you book or check out: Booking.com · Expedia · Myer

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Where each card wins

The four Australian Big 4 credit card portfolios span a wide price band (from under $100 a year on the entry rewards tier to around $420 a year on the top premium tier) and offer roughly comparable headline earn rates (around 1 to 2 points per dollar on eligible spend before the per-statement threshold). The differences are at the edges: transfer partners, cap structures, complementary travel insurance, lounge access, and sign-up bonuses. Purchase interest rates on the flagship cards we could check run from about 21% to 24% p.a. at the time of writing (Westpac, CommBank, ANZ, NAB), rates can change, so confirm the current rate before applying.

CBA Awards is the most flexible Big 4 points currency. Awards points transfer to Velocity Frequent Flyer, Cathay Asia Miles, and Singapore Airlines KrisFlyer (at varying ratios), with periodic transfer bonus promotions. The entry CommBank Awards card charges $8 per month and earns 1 Awards point per $1 up to $2,000 per statement period, then 0.5 points; the premium Ultimate Awards card charges $35 per month (waived if you spend at least $4,000 in a statement period) and earns up to 3 Awards points per $1 up to $10,000 per statement period (CommBank). CBA's volume scale also means CBA Awards is the easiest Big 4 program to combine with everyday banking discounts (CommBank Yello tier benefits, fee waivers on linked transaction accounts). The catch is that the redemption value via the Awards store is mediocre; the points are most valuable transferred to Velocity.

ANZ Rewards Black runs on ANZ Reward Points and transfers to Velocity, Asia Miles, and KrisFlyer at competitive ratios. It earns 2 ANZ Reward Points per $1 up to and including $5,000 per statement period, then 1 point per $1 thereafter (ANZ). ANZ Rewards Black includes complementary international travel insurance and overseas medical cover (subject to policy terms, read the PDS). ANZ also runs frequent sign-up bonuses, up to 180,000 ANZ Reward Points across staged spend and tenure conditions in promotional periods (ANZ); offers change, so check the current promotion. The annual fee is $375 (a $320 annual fee plus a $55 Rewards Program Service Fee) (ANZ), with eligibility and minimum income criteria applying, confirm the current threshold with ANZ.

NAB Rewards Platinum is the best fee-to-points ratio in the Big 4 for spenders in the $30,000 to $60,000 annual spend range. The annual fee is a flat $195, lower than the premium tier (NAB), the earn rate is competitive (1.25 NAB Rewards Points per $1 on eligible purchases up to $5,000 a month, then 0.5 uncapped, plus 0.75 bonus points per $1 on groceries, petrol and public transport, according to NAB at the time of writing), and NAB issues the dedicated Qantas Premier Titanium card on a separate Qantas-aligned rail. NAB Rewards transfer to Velocity at a 2-to-1 ratio (2 NAB Rewards Points per 1 Velocity Point) (NAB).

Westpac Altitude Black is the strongest Big 4 card for Qantas-aligned travellers. The Altitude Black card has a $295 annual card fee; the standard Altitude Rewards option carries a $0 Rewards Program fee, while choosing the Qantas option adds a $75 annual Rewards Program fee (Westpac, Westpac). The Qantas option earns Qantas Points directly (0.5 points per $1 on most purchases, 0.8 on the everyday spend category, and 1.2 internationally, dropping to 0.25 points per $1 once you spend $10,000 in a statement cycle), plus complimentary international travel insurance and Qantas Club invitations (Westpac). The standard Altitude Rewards option earns up to 3 points per $1 internationally and 2 on the everyday category, dropping to 0.5 points per $1 after $10,000 in a statement cycle (Westpac). The catch is the multi-tier earn cap that requires careful management, and a stated minimum income of $75,000 p.a. (Westpac).

The Big 4 rewards programs are points-first rather than cash-rebate cards. The cash side comes from the store instead: go through ShopBack to a participating store before you check out, then pay with your card, and the cash ShopBack returns lowers your effective price. ShopBack Snaps, an Australia-only feature in the ShopBack app, covers eligible in-store receipts listed in the app.

Shopping at Myer? Go through Myer on ShopBack before you check out.

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The numbers, card by card

Feature	CBA Awards	ANZ Rewards Black	NAB Rewards Platinum	Westpac Altitude Black
Annual fee (2026)	$8/mo ($96/yr) entry; $35/mo Ultimate (waived at $4k/stmt spend)	$375 ($320 + $55 program fee)	$195 flat	$295 card fee (+$75 program fee on Qantas option)
Earn rate per $ (domestic)	1 point to $2k/stmt, then 0.5 (entry); up to 3 to $10k/stmt (Ultimate)	2 points to $5k/stmt, then 1	1.25 points to $5k/month, then 0.5, plus 0.75 bonus on groceries, petrol and public transport	2 points everyday, 1 other (Altitude) / 0.5 to 0.8 (Qantas option)
Earn rate per $ (international)	Up to 3 points (Ultimate)	2 points	1 point	Up to 3 points (Altitude) / 1.2 (Qantas option)
Points cap	$2k/stmt (entry), $10k/stmt (Ultimate) threshold	$5k/stmt threshold	$5k/month threshold, then 0.5 (uncapped)	$10k/stmt threshold, multi-tier
Velocity transfer	Yes, varies	Yes, competitive	Yes (2 pts to 1 Velocity)	Indirect (Altitude option)
Qantas earn	Opt-in (Ultimate, $90/yr)	Indirect (transfer partners)	Yes via Qantas Premier (separate card)	Yes (Qantas option, direct earn)
Sign-up bonus (typical 2026; changes)	Promotional, varies	Up to 180,000 points	Up to 100,000 points	Up to 150,000 Qantas points (staged)
Purchase interest rate (at the time of writing)	20.99% p.a. (Awards)	Check with ANZ	22.49% p.a.	23.98% p.a.
Interest-free days	Up to 44	Up to 44	Up to 44	Up to 45
Complementary travel insurance	Yes, conditions apply	Yes, conditions apply	Yes (Platinum tier)	Yes, more comprehensive
Lounge access	Limited via partners	Limited	Limited	Qantas Club invitations (Qantas option)
Concierge service	Tier-dependent	Yes (Black tier)	Limited	Yes (Black tier)
Foreign transaction fee	~3% (verify with bank)	~3% (verify with bank)	~3% (verify with bank)	~3% (verify with bank)
Best for	Flexible points, banking bundle	Points + travel insurance	Low fee + decent earn	Qantas alignment + lounge
Worst for	Cashback seekers	Low-spend customers	Premium travel perks	Velocity-aligned travellers
Minimum income	Not published (min credit limit $500, entry)	Not published; criteria apply	Min credit limit $6,000	$75,000 p.a.

(Fees, earn rates, sign-up bonuses, and interest rates are indicative and change frequently, verify directly with each bank: Westpac, CommBank, ANZ, NAB.)

The numbers show that no single Big 4 card dominates the others on every dimension. CBA Awards wins on banking bundle flexibility. ANZ Rewards Black wins on sign-up bonuses and travel insurance bundle. NAB Rewards Platinum wins on annual fee for moderate spenders. Westpac Altitude Black wins for Qantas direct earn and Qantas Club access.

A practical durability note: complementary travel insurance terms on all four cards exclude pre-existing conditions, require activation, and cap medical claims. The "free insurance" is a starting point, not a replacement for a standalone travel insurance policy on a longer or higher-risk trip. Read the PDS before relying on it.

Booking a trip? Go through Booking.com or Expedia on ShopBack before you book.

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Which card fits your situation

Use the Card Match Map before signing up. Decide what you do with points first, then pick the card that maximises value for that goal.

Your situation	Best Big 4 card	Why
Frequent Qantas flyer (4+ flights/year)	Westpac Altitude Black (Qantas option)	Direct Qantas earn, Qantas Club invitations
Frequent Virgin Australia flyer	CBA Awards or ANZ Rewards Black	Velocity transfers competitive on both
Cathay Pacific or Singapore Airlines focus	ANZ Rewards Black	Asia Miles and KrisFlyer competitive ratios
$30,000 to $60,000 annual spend	NAB Rewards Platinum	Lowest fee-to-earn ratio in the Big 4
$80,000+ annual spend	ANZ Rewards Black or Westpac Altitude Black	Higher earn rates pay back the fee
Already with CommBank for everything	CBA Awards	Yello tier and banking bundle benefits
Already with NAB for everything	NAB Rewards Platinum	Banking package fee waivers possible
Sign-up bonus hunter (one-off)	ANZ Rewards Black	Largest typical 2026 bonuses (up to 180k)
Backup card for international travel	ANZ Rewards Black	Insurance plus reasonable foreign fee handling
Pure Cashback seeker	None of the Big 4	Look at a no annual fee card such as Bankwest Zero Platinum instead
Low credit utilisation, prefer cash over points	Debit or no-fee card, going through ShopBack before you pay	Cashback lowers the effective price with no annual fee to recover
Self-employed, ABN, business spend	ANZ Business Black or Amex Business Explorer	Big 4 personal cards leave business value on the table
Annual fee allergic	NAB Low Fee or no Big 4 card	Big 4 entry-tier no-fee cards earn no meaningful points

The biggest mistake is signing up for the card with the biggest billboard sign-up bonus, paying the annual fee, and never redeeming the points. A Westpac Altitude Black sitting unused costs $295 a year ($370 on the Qantas option). The card has to be worked.

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What this means for your wallet

In practice, the points-vs-Cashback equation in Australia in 2026 is more nuanced than the marketing suggests. A typical Big 4 rewards card returns roughly 0.5 to 1.5 cents per dollar spent in net redemption value (after annual fee, after transfer ratios, after expiry). Going through ShopBack on the same spend, via the ShopBack Chrome extension or the ShopBack app, lowers the effective price at participating stores at the live rate shown on each store's ShopBack page; whether your card also earns on those purchases is covered in the section on using these cards with ShopBack above. Households booking travel can also use the ShopBack Travel Planner (available on web and in the ShopBack app) to build multi-city hotel plus flight plus activity combos with ShopBack Cashback on each eligible booking.

Concrete example one: a couple in Melbourne with $50,000 annual credit card spend, half on everyday and half on travel. Westpac Altitude Black on the Qantas option ($295 card fee plus $75 Qantas program fee = $370 a year) (Westpac). At roughly 0.5 to 1.2 Qantas points per dollar, they earn somewhere around 30,000 to 45,000 Qantas points per year, which contributes toward a domestic reward seat net of the fee. (Choosing the standard Altitude Rewards option instead drops the fee to $295 and earns Altitude points at a higher rate, for transfer to Velocity.) Going through ShopBack before each booking on Booking.com or Expedia lowers what they pay; how much depends on the live rate on each store's ShopBack page.

Concrete example two: a single Sydney shopper with $35,000 annual spend, mostly groceries, fuel, and online retail. NAB Rewards Platinum ($195 annual fee) (NAB). At 1.25 points per dollar on eligible spend up to $5,000 a month (plus 0.75 bonus points on groceries, petrol and public transport, according to NAB), they earn around 40,000 to 50,000 points per year, transferred to Velocity at 2-to-1 for roughly 20,000 to 25,000 Velocity Points (~$250 to $450 in flight value). Going through ShopBack on the online retail portion ($12,000 a year) lowers the effective price of those orders, at the live rate on each store's ShopBack page.

Concrete example three: a low-spend shopper, $15,000 annual spend, mostly small-ticket basics. No Big 4 rewards card is worth the annual fee at this spend level. Use a no-fee card (or debit card), and go through ShopBack at participating stores to lower the effective price, with no annual fee to recover.

Across all three, the common pattern is: credit card rewards reward concentrated, high-frequency, predictable spend on travel and dining. ShopBack works store by store, whichever card you pay with. The two work independently.

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When this does NOT apply

• You carry a balance: any rewards earned are wiped out by the interest rate (around 21% to 24% p.a. on the Big 4 flagship rewards cards at the time of writing, Westpac, NAB). Interest-free days only apply if you pay the full closing balance by the due date (ASIC MoneySmart). Pay in full or use a low-rate card.
• Your annual spend is under $20,000: the annual fee on every Big 4 rewards card exceeds the point value at this spend level. Stick to a no-fee card.
• You travel only domestically and on the cheapest fare: Velocity and Qantas points transfer best to long-haul business and international economy. Short-haul cash fares are usually better.
• You hold an existing high-value home loan or transaction account package with a Big 4 bank: package benefits often include free credit cards. Run the maths inclusive of the package discount.
• You want a card with no foreign transaction fee: All Big 4 charge a foreign transaction fee (around 3%, confirm the current rate with each bank). Use a dedicated travel card (Wise debit, ING Orange Everyday, Bankwest Breeze with offer) for overseas spend.
• You hold an Amex parallel card (Explorer, Platinum): Amex frequently beats the Big 4 on earn rate and partner ecosystem for international travel. Hold the Big 4 card as a Mastercard or Visa backup for non-Amex merchants.
• Self-employed or ABN holder: a business card can deduct the annual fee against business income; a personal card cannot. Run the maths against your tax situation.

Before you check out: Booking.com · Expedia · Myer

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Frequently asked questions

Which Big 4 Australian bank has the best credit card for Qantas points in 2026?

Westpac Altitude Black with the Qantas option is the strongest Big 4 Qantas-aligned card in 2026, earning Qantas Points directly on the program option (0.5 points per $1 on most purchases, up to 1.2 internationally) and offering complimentary Qantas Club invitations (Westpac). Note the Qantas option carries a $75 annual Rewards Program fee in addition to the $295 card fee. ANZ Rewards Black via transfer partners and CBA Awards via the Qantas Points opt-in are alternatives. For maximum Qantas earn outside the Big 4, the dedicated Qantas Premier Titanium (issued by NAB) sits on a separate Qantas-branded rail. Earn rates and fees change; see Westpac.

Are the Big 4 banks the best place to get a rewards credit card in Australia?

Not always. The Big 4 own the largest share of Australian credit card customers and offer mature points programs, but American Express cards such as the Explorer frequently beat the Big 4 on raw earn rate per dollar. The Big 4 still win on bundle discounts, local lounge access partnerships, and travel insurance inclusions.

Can I earn Cashback on credit card spend through ShopBack in Australia?

Yes, through the store rather than the card. ShopBack works on purchases at participating Australian stores whichever credit card you use. You can usually earn your card's own points on the same purchase too, because they come from different places; your card's terms decide what earns points.

What is the best low-fee credit card in Australia in 2026?

Among the Big 4, NAB Rewards Platinum has one of the lower annual fees in the rewards tier at $195 (NAB), and the entry CommBank Awards card charges $8 a month, according to CommBank at the time of writing. For the lowest cost with no rewards, the Bankwest Zero Platinum Mastercard has a $0 annual fee, according to Bankwest at the time of writing. The right choice depends on whether you want to earn points or simply keep card costs down.

When should I cancel a rewards credit card to avoid the annual fee?

Most Australian credit card annual fees are charged in the same month each year as the card anniversary, not at January 1. Check the fee date on your latest statement and cancel before the fee posts if you have not been using the card. Be aware that closing a card affects credit history.

What has changed at Big 4 credit cards in 2026?

The material shift in 2026 is the December 2025 American Express Membership Rewards devaluation from 1:1 to 2:1 across Qantas Frequent Flyer and Velocity, which changes the cross-shopping calculus for Amex Platinum holders considering a Big 4 card as a backup. Big 4 flagship rewards products have held annual fees and headline earn rates through the first half of 2026. Sign-up bonuses shift promotionally, so verify the current offer with each issuer. Purchase interest rates differ by card and do change, so check each issuer's page for the current rate.

Are Big 4 credit card sign-up bonuses tightening in 2026?

Not materially. ANZ still runs staged sign-up bonuses up to 180,000 points on ANZ Rewards Black in promotional windows, and CBA runs periodic transfer bonuses to Velocity. Sign-up eligibility criteria (minimum income, no prior card of the same series in the past 18 to 24 months) are strictly enforced. The bonus value is highest if you can meet the minimum spend without changing your normal spending pattern; otherwise the bonus becomes a hidden budget overrun.

Should I close a Big 4 card before the annual fee posts if I'm not using it?

Yes on the fee-timing question: annual fees typically post in the same month as the card anniversary and are refundable only if you close before the fee posts (or within a short grace period). Check your current statement for the fee date. On credit history: closing a card reduces total available credit and can nudge your utilisation ratio, so consider your other card balances first. For a Westpac Altitude Black on the Qantas option, closing before the anniversary saves $370 in the year you skip; that is often the right call if points have been sitting unused.

Does a Big 4 card sign-up bonus actually pay back the fee?

A 100,000-point sign-up bonus is worth roughly $400 to $1,000 net depending on redemption choice. If the annual fee is $195 to $375, the bonus alone covers year one comfortably. The honest question is year two: if you are not actively using the card, the year two fee buys little.

How can I earn Cashback on credit card retail spend through ShopBack?

ShopBack works on the store, not the card, so it applies whichever Big 4 card you use. Open the store on ShopBack, such as Myer, Booking.com or Expedia, finish the order, and pay with your card. The live rate is shown on each store's ShopBack page.

Does ShopBack work with Big 4 credit card spend in Australia?

Yes. ShopBack works the same whichever card brand or issuer you use, because it applies to the purchase at the store. Go through ShopBack to a participating store such as Myer or Booking.com, then pay with CBA Awards, ANZ Rewards Black, NAB Rewards Platinum or Westpac Altitude Black. Whether the card also earns points on that purchase depends on its terms, so check them and the live rate on the store's ShopBack page before checkout.

Which retailer offers the highest Cashback for credit card users?

There is no single answer, because rates on ShopBack vary by store and change over time, sometimes during big sale events. Check the live rate on each store's ShopBack page, such as Booking.com or Myer, before a large purchase, and choose your card on its own fees and earn rate.

Does spending through ShopBack count toward a card's sign-up bonus spend?

Often. A purchase made by going through ShopBack to a participating store such as Myer is a normal card purchase at that store, so it usually counts toward a sign-up minimum spend if the issuer treats it as eligible. Avoid spending more than you normally would just to reach a sign-up target.

How much Cashback can I earn on typical annual credit card spend?

It depends on which stores you use and the live rate at each, which is shown on every store's ShopBack page and can change. Check the live rate on the store's ShopBack page, such as Myer, before you check out.

Where do I get the best deal on travel when paying with a rewards card?

Compare the same booking on Booking.com and Expedia first, then go through ShopBack before you book: booking through ShopBack lowers the cost of the trip, and you still book on the site you chose. Pay with the card whose fees and earn rate suit you, such as Westpac Altitude Black (Qantas option) or ANZ Rewards Black; whether it also earns points on the booking depends on its terms. Tracking and confirmation times are shown on each store's ShopBack page.

Can I use ShopBack Snaps or ShopBack Play with a Big 4 rewards card?

Usually, because they work separately. ShopBack Snaps is an Australia-only feature in the ShopBack app for eligible in-store receipts listed in the app, and ShopBack Play is an in-app-only feature. Each has its own terms in the app, and whether your card earns points on a purchase depends on your card's terms, so check both.

Does ShopBack offer sign-up bonuses on Big 4 credit card applications?

ShopBack sometimes lists credit card offers, and any offer and its eligibility rules are shown in the app or on the website at the time. Check what is listed before you apply. The issuer's own eligibility criteria (income, credit history, no prior card of the same series) still apply, and any ShopBack offer is separate from the issuer's own sign-up offer.

How do you switch from one Big 4 rewards card to another without tanking your credit score?

Apply for the new card first while your existing card is still open, wait for approval and complete the sign-up spend, then close the older card once its next annual fee posting date is close. This keeps total available credit stable for most of the transition and limits the utilisation-ratio jump that hurts scores. Space applications 3 to 6 months apart to avoid multiple hard enquiries in a short window. For day-to-day online spend, go through ShopBack before you pay at participating stores. Whether the new card also earns points on those purchases depends on its terms.

Which credit card is best in Australia for everyday spending?

It depends mainly on how much you spend and whether you pay in full each month. Under about $20,000 a year, or if you sometimes carry a balance, a no annual fee card such as the Bankwest Zero Platinum Mastercard ($0 annual fee, according to Bankwest) usually leaves you better off. Between about $20,000 and $60,000 paid in full, a mid-fee points card such as NAB Rewards Platinum ($195 annual card fee, per NAB) is a strong fit. Above that, premium cards such as the American Express Explorer ($395 annual fee, 2 points per $1 on purchases, per American Express) can pay back their higher fee. Fees and rates change, so check each issuer's page before you apply.

What is the best rewards credit card in Australia?

The best rewards card is the one that earns points you will actually redeem at a fee your spending justifies. For the lowest fee while still earning points, NAB Rewards Platinum ($195 annual card fee, per NAB) is a good starting point. For the highest earn on general spend, the American Express Explorer earns 2 Membership Rewards points per $1 on purchases for a $395 annual fee, per American Express, if your regular shops accept Amex. For Qantas Points straight to your account, look at Westpac Altitude Black on the Qantas option.

What is the best no annual fee credit card in Australia?

For most people who pay in full, the best no annual fee card combines a $0 annual fee with no foreign transaction fee and a long interest-free period. The Bankwest Zero Platinum Mastercard is a clear example: according to Bankwest at the time of writing, it has a $0 annual fee, a 0% foreign transaction fee, up to 55 days interest free on purchases and an 18.99% p.a. ongoing purchase rate. Most $0 fee cards earn few or no points, and other fees such as late payment fees still apply.

Is a rewards credit card worth it if I spend less than $20,000 a year?

Usually not. At that level of spending, the annual fee on most rewards cards is larger than the value of the points you would earn, so a no annual fee card is usually the cheaper choice. If you also sometimes carry a balance, the interest will outweigh any rewards, so compare purchase rates first.

Which credit card should I use to book on Booking.com or Expedia?

Compare the same room on Booking.com and Expedia first, because the price matters more than the card. Then check whether the booking is charged in Australian dollars or a foreign currency; if it is a foreign currency, a card with no foreign transaction fee avoids that fee. Before you book, go through ShopBack to Booking.com or Expedia: booking through ShopBack lowers the cost of the trip, and you still book on the site you chose.

Can I earn ShopBack Cashback and credit card rewards on the same order?

Usually, because they are separate. ShopBack's cash return is paid by ShopBack and is separate from your card's rewards. Use any accepted card at checkout; whether your card also earns points, miles or Cashback on the same order depends on its terms.

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Key takeaways

• CBA Awards wins on flexible points and banking bundle benefits
• ANZ Rewards Black wins on sign-up bonuses (up to 180k points) and travel insurance bundle
• NAB Rewards Platinum is the best fee-to-points ratio for moderate spenders, at a flat $195 annual fee
• Westpac Altitude Black is the strongest Big 4 Qantas-aligned card with Qantas Club access ($295 card fee, +$75 on the Qantas option)
• The Big 4 rewards cards are points-first rather than cash-rebate cards
• Going through ShopBack at participating stores lowers your effective price whichever card you pay with; card points depend on your card's terms
• ShopBack Snaps (Australia-only, in the app) covers eligible in-store receipts listed in the app, ShopBack Play (in-app-only gamified rewards) between purchases, and the ShopBack Travel Planner (web and app) for hotel plus flight plus activity trip bookings
• A rewards card you do not actively use is a $96 to $420 annual fee gifted to the bank
• Cap structures matter as much as the headline earn rate; read the PDS
• Carrying a balance wipes out all rewards value (purchase rates of around 21% to 24% p.a. at the time of writing); pay in full or skip the rewards card
• Go through ShopBack before you check out, whichever card you pay with

💡 Go through ShopBack before you check out at Myer, whichever card you pay with

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Sources

• Westpac Altitude Rewards Black card fee ($295), $0 program fee, earn rates, $10k/statement threshold, 23.98% p.a. purchase rate, up to 45 interest-free days, $75,000 minimum income
• Westpac Altitude Qantas Black $75 Rewards Program fee, Qantas Points earn rates (0.5/0.8/1.2 per $1), $10k threshold drop to 0.25
• CommBank Awards card $8/month fee, 1 point per $1 to $2,000/statement then 0.5, 20.99% p.a. purchase rate, up to 44 interest-free days
• CommBank Ultimate Awards $35/month fee (waived at $4,000/statement spend), up to 3 points per $1 to $10,000/statement, $90 Qantas opt-in
• ANZ Rewards Black $375 annual fee ($320 + $55 program fee), 2 points per $1 to $5,000/statement then 1, sign-up up to 180,000 points, up to 44 interest-free days
• NAB Rewards Platinum $195 annual card fee, 1.25 points per $1 up to $5,000 a month then 0.5, 0.75 bonus points on groceries, petrol and public transport, 2-to-1 Velocity transfer, 22.49% p.a. purchase rate, up to 44 interest-free days, sign-up up to 100,000 points
• ASIC MoneySmart interest-free days only apply if you pay the full balance by the due date; how interest is charged on a carried balance

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Disclaimer

The views and recommendations expressed in this article are those of the author.

Credit card fees, points earn rates, sign-up bonuses, insurance terms, and program partner ratios are subject to change. Eligibility criteria, minimum income requirements, and complementary insurance terms vary by issuer and product disclosure statement (PDS). Please verify current pricing, terms, and eligibility directly with the relevant bank or issuer before applying.

This article is intended for general informational purposes only and should not be considered financial product advice. Consider whether any product is appropriate for your personal financial situation, and consult a licensed financial adviser if needed.