If you’re a member of Qantas’ frequent flyer program then this is the credit card for you. Although it might take a bit to get your head around the points earning guidelines, it’s definitely worth it.

Allow us to explain…

To begin with, you get both an American Express credit card and your choice of either a Visa or MasterCard. For the first $3000 you spend in a month (in total from both of the cards you receive), you’ll get 2 Qantas frequent flyer points for every $2 spent on the American Express and every $3 on the MasterCard/Visa.

Then in your next $7,000 you’ll get one point for every $2 spent on the American Express and every $3 on the MasterCard/Visa. Once you hit $10,000 you stop earning frequent flyer points, so if you are a big spender it’s more rewarding for you to leave any purchases that will take you over the $10,000 mark until the next month.

Along with the frequent flyer rewards points you also get a number of other features, including Gold international travel insurance (50% of your prepaid travelling costs), purchase protection, extended warranties on purchases and VIP Lost Card cover.

But enough about that, here’s the all important basic information…

Interest is charged at 19.24% p.a. for both cash and purchases, with a pretty average 6.99% p.a for balance transfers. While this lower rate only lasts for six months, the interest rate that it increases to after this time is lower than most seeing as the card’s cash advance rate is pretty low (19.24% p.a.). The interest free period is a little low at up to just 44 days, but like all other cards with this time slot, is manageable if you’re smart about it.

The annual fee for this card is $145.50, so is pretty expensive if you’re not using it to its full potential. Therefore, it would be best suited (and most valuable) to people who will make use of the insurance and travel benefits while flying with Qantas and spend (or plan to spend) at least $3000 per month on their credit card.

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NAB’s Velocity Gold is a really valuable credit card to have when it comes to rewards and benefits.

Like NAB’s standard Velocity credit card it allows customers to earn Velocity points towards international and domestic flights, on Virgin Blue as well as a whole range of other rewards available in the online Velocity rewards store.

But here’s where it gets good…

As a Gold card the annual fee of $150 is at the higher end of the scale but add in one of the best airline rewards programs available on a credit card and you’re getting a whole lot more bang for your buck.

Interest for the Velocity Gold card sitsat 18.74% p.a., and includes added insurance benefits (including 90 days purchase protection, Gold overseas travel insurance and extended warranty insurance) so is a LOT more reasonable than the standard Velocity credit card.

Interest free days stand at up to 44, which again is lower than most but still ok. Like the standard card it comes with both an American Express and a Visa credit card which ups the ante on your points-earning potential – two points for every $2 spent on the American Express and one point for every $2 on the Visa.

Even if you’re not looking to travel but still want a rewards program then this is one of a number of reasonably priced choices that may still suit your needs. With awesome rewards opportunities and all the included insurance benefits this is most definitely a card that is nipping at the heels of the top 3 cards in the rewards category, so would be great for all those travel bugs out there.

See our top credit card picks in the Editor’s Choice category

Why it is called the Earth card? Well we’re not sure, as it has nothing to do with the environment at all. What we can tell you is that this card is full of credit card goodness and very appealing for all those frequent flyers out there.

The Earth credit card’s rewards program is based on earning Qantas frequent flyer points with every purchase you make on the card. Earning potential in the Earth card’s rewards program is unlimited, and you can maximize your points with the help of the two credit cards you will receive, one being an American Express and the other a MasterCard.

Just like on the Earth Gold frequent flyer card, using your American Express for purchases will earn you one frequent flyer point for every dollar spent, and 0.5 points for every dollar spent on the MasterCard. Just remember that points are not earned on balance transfers and cash advances.

And just as an added bonus, you’ll get an extra point for every dollar you spend using your Earth American Express or MasterCard to purchase Qantas products. But no matter how you earn them, your points will be credited to your Qantas Frequent Flyer account at the end of each month.

But wait there’s more! If you let Westpac know when you purchase selected Qantas products using any one of your Earth cards, you’ll only be charged 5.99% p.a.

And now for the interest rates…

Purchases earn interest at a rate of 18.79% p.a. and cash advances at 20.29% p.a. Neither of these are especially low so obviously this interest pays for your rewards program. Balance transfers to this card work out great if you can pay it off within your first 6 months as you’ll earn 0.99% p.a. interest, however after that time it increases to 20.29% p.a.

The interest free period is lower than most at 44 days and the annual fee is $75 which is ok for a card with a rewards program, but would be more attractive if the Qantas Frequent Flyer membership fee was included. Instead this must be paid on top of your annual fee.

For a card that focuses on travelling it seems a bit strange that there are no actual travel benefits, but when you look at all the Earth cards you can see that these are reserved the premium Earth credit cards (gold and platinum).

With just one statement and one credit limit for the two credit cards it should be an easily managed credit card. If you’re not too fussed about the interest rate and are looking purely for vast frequent flyer points potential without any other benefits then this card is an excellent choice.

See our top credit picks in the Editor’s Choice category