best credit card points when signing up in may


Everyone likes to get something for nothing, and bonus credit card points on sign up are no exception. With more and more Australians traveling and spending again after post-pandemic restrictions, finding a credit card that maximizes your points when signing up can be a competitive option for some cardholders.

Luckily, RateCity Research has done the hard work for you by compiling a list of credit cards with the most bonus points when signing up in May. It’s a way to compare your card options and show the most important points about sign-up offers.

These offers can benefit different credit card customers with their own financial needs. Remember to compare not only the points offered, but also the interest rates and fees charged.

For the month of May, the major credit cards with the highest sign-up bonus points, according to the RateCity database, are:

  1. 200,000 points – St. George/Bank of Melbourne/BankSA
  2. 200,000 points – Citi Prestige
  3. 150,000 points – Qantas Money Premier Titanium
  4. 150,000 points – Bank of Queensland Visa Platinum

Credit card bonus points offers – ranking for May

RateCity’s database shows that the following credit cards offer the most bonus points when signing up in May.

This table is based solely on the number of registration points, regardless of the type of rewards offered. Program may refer to an affiliated frequent flyer rewards program or the card issuer’s internal rewards program.

Card issuer Menu Program name Points
City Prestige Citi Rewards


St. George Bank/Bank of Melbourne/BankSA Amplify signature Amplify Rewards


Bank of Queensland Platinum Visa Q Rewards


Qantas Money Titanium Premier Qantas Frequent Flyer


Westpac Altitude Black Altitude Rewards


NAB Signing of awards NAB Awards


ANZ Black frequent flyer Qantas Frequent Flyer


Westpac Altitude Black Qantas Qantas Frequent Flyer


NAB Qantas Signature Rewards Qantas Frequent Flyer


Bankwest More World Mastercard More rewards


Source: Data accurate as of 05/10/22

Where could your loyalty points take you?

RateCity research shows there are currently 16 credit cards that offer enough Qantas frequent flyer bonus points on sign-up to get you on an international flight, and four that could get you round-trip flights to Europe .

And if you’re still not ready to consider international travel, there are also a host of credit cards offering bulk points on sign-up to take you to Australian capitals.

Destination Cost of Qantas Frequent Flyer points from Sydney
melbourne 16,000
Brisbane 16,000
Canberra 16,000
Hobart 19,200
Adelaide 19,200
Darwin 32,400
Perth 36,000
Denpasar (Bali) 38,300
Singapore 50,400
Honolulu 63,000
Japan 63,000
Los Angeles 83,800
London 111,400
Rome 132,400

Source: RateCity, data accurate as of 05/11/22.

From the RateCity database

According to the RateCity database (accurate as of 03/31/2022):

  • The average purchase rate is 16.20%
  • The average annual fee is $131.72

Purchase rates and annual fees are generally higher than average for rewards credit cards that offer points in bulk upon signup. These costs typically help pay for credit card rewards programs. Card issuers may also set higher minimum spending limits for these types of credit cards, as they are ideal for higher-income customers who could afford them.

If paying higher annual fees and purchase rates don’t fit your budget, consider comparing some of the lower rate and fee credit card options available. The numbers above can help you in your comparison as a benchmark to gauge the competitiveness of different card options.


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