A number of Australian Credit cards have a rewards system that gives cash back to the card Holder.
One of the popular ones recently was the ANZ Bank Rewards Visa card. This gave a refund of $100 for every 13,750 points saved. To reach that number of points, the cardholder had to spend $20,614.
But that has recently changed, and possibly due to the recent introduction of the Woolworths Everyday Money Mastercard. This card provides Woolworths gift vouchers at a rate of $100 for every 17,750 points. That number of points can be reached by spending $13,250 assuming 30% of your card spend is at Woolworths group outlets.
Obviously, this Woolworths card was much better value than the ANZ card.
However, from what I have read recently, ANZ have now changed their points system, and to reach the 13,750 points to get $100, you now only need to spend $13,750. (This is NOT yet confirmed on their website). A similar figure to the Woolworths card.
ANZ: Spend $13,320 to get 19,980 points which gets you a $100 voucher. (Oct 2010)
Competition again provides a winner for the consumer 🙂
- ANZ spend $13,320 to get a $100 voucher for Bunnings, Harvey Norman, Target etc
- Woolworths spend about $13,250 to get a $100 Gift Card for use at Woolworths Group shops
- Bank of QLD spend $18,333 to get $100 voucher ( this may have now changed)
- St George Amplify spend $17,500 to get a $100 Gift Voucher for Caltex, Bunnings etc.