Aussies to snag 3.7 billion credit card reward points this Christmas

Millions of savvy Australian credit card holders plan to get something back for their generosity this giving season, according to finder.com.au.

New research has found almost half (44%) of Australian credit card holders – equivalent to 5.6 million people – intend on taking advantage of earning points from their Christmas shopping.

Gen X and Gen Y are the most eager to reap the benefits, with 46% and 47% swiping their rewards cards to rack up points. Just 39% of Baby Boomers will use rewards cards on Christmas shopping.

Bessie Hassan, Money Expert at finder.com.au, said with many splashing out for Christmas, this is a great time of year to earn miles.

“Play your cards right, or rather, use the right card and you can get something back every time you spend,” she said.

Applying for a credit card is quick and easy however it can take some time between applying for a rewards credit card and receiving it.

“It typically takes within 5-7 business days to get your card however you could have to wait up to 21 business days for some particular cards.

Now is the perfect time for new customers to snag deal-sweeteners like bonus points, annual fee waivers and promotional interest rates.

To receive 120,000 bonus Qantas points on the ANZ Frequent Flyer Black for example, you’re required to spend $7,500 over three months. That’s just $2,750 shy of the $4,750 a typical credit card holder spends on average between November and January.

“If you’re looking to make other big purchases with the same credit card you’re using for your Christmas shopping, such as booking an overseas trip, you could easily qualify for the bonus points,” she said.

Hassan said there are some credit card conditions to be cautious of.

“Rewards credit cards often come with higher annual fees and interest rates, so do your research and make sure these don’t wiping out any benefit of what you earn.”

Visit www.finder.com.au/credit-cards to compare rewards credit cards.