Many credit cards no longer offer the same value that they once did. With the implementation of the RBA’s credit card regulations fast approaching, many cards now place restrictive caps on the number of frequent flyer and rewards points that can be earned. Some cards will now halve the number of points that are earned after reaching a certain spend, while others award no points at all after this amount is reached.

ANZ is the latest bank to have placed new point-earning caps on its credit cards, but all of the major banks have imposed earning caps on some or all of their cards.

If you’re a relatively low spender, these changes are unlikely to affect you. But if you have a medium-to-high credit card spend, it may be worth seeking out a credit card that does not place a cap on the number of points that can be earned each month or year. This is exactly what one member is planning to do after ANZ cut their ability to earn points.

Have received a letter in the mail this week saying that my ANZ Frequent Flyer Black card will delete its AMEX card in a couple of months time and that the earning rates on the VISA will become capped at the same time. At the moment I spend around $150K – $200k a month on a mixture of AMEX and VISA using this card netting me on average 230K points a month. Can anybody advise on a similar card that may be uncapped that I should switch to?

In this situation, our members recommend getting at least one American Express (Amex) credit card. Amex cards generally offer a higher number of uncapped points, but their acceptance is limited and surcharges may apply when paying with an Amex card. So, our members also recommend applying for at least one Visa or MasterCard credit card. This card can be used when Amex is not accepted or a high surcharge would otherwise apply.

With that level of spend I would probably go for a CITI Prestige VISA and depending on the type of spend couple it with either an AMEX Platinum Charge or AMEX Explorer.

As a Visa option, the Citi Prestige Visa credit card is recommended by several members.

An enviable position to be in and its very nice when the points are in. I have the Citi Prestige and Amex Platinum & Centurion and I think this will be as good a combo as you can get. The Citi Prestige is the go to card (do the first month and sign up bonus to QF and then cancel the QF) and taken everywhere and pretty excellent uncapped points.

The best Amex cards are issued directly by American Express. The Amex Explorer, Platinum Edge and Platinum Charge cards are all considered good options. As well as uncapped points, some of these cards come with benefits such as free flights and airport lounge access.

One of the few bank-issued cards to still offer a MasterCard/Amex duo and uncapped points is the Westpac Black card. This could be another worthwhile option.

Westpac Black – both a Mastercard and Amex with no points cap.

What’s your go-to card? Join the discussion HERE.

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Matt Graham
The editor of Australian Frequent Flyer, Matt's passion for travel has taken him to over 60 countries… with the help of frequent flyer points, of course!
Matt's favourite destinations (so far) are Germany, Brazil, New Zealand & Kazakhstan. His interests include economics, aviation & foreign languages, and he has a soft spot for good food and red wine.

You can contact Matt at [email protected]