- High earn rate on eligible spend: Up to 3 Reward Points per $1 on eligible international and selected travel and dining purchases, 2 points per $1 at major supermarkets, petrol outlets and national retailers, and 1 point per $1 on other eligible transactions.
- Extensive lounge access: Priority Pass™ membership with 15 complimentary lounge visits per year shared between the primary cardholder and accompanying guests.
- Premium travel perks: Extras such as “4th Night on Us” with Luxury Escapes and Uber Premier cashback (when eligibility criteria are met) can add value for frequent travellers.
- Comprehensive complimentary insurance: Includes travel insurance, mobile phone cover, purchase protection, extended warranty and rental vehicle excess cover when eligibility requirements are met.
- Additional cardholders at no extra fee: Up to four additional cardholders can help consolidate family or household spending and earn more points, with no additional cardholder fee.
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MyCard Credit Cards
MyCard Prestige
Updated 3 December 2025
If you’re looking for a premium rewards card with a strong points earn rate on travel, dining and everyday spend – plus airport lounge access and complimentary insurance – the MyCard Prestige Credit Card could be worth considering.
Terms and conditions apply.
Points Earn Rate (per $1 spent)
3 points
MyCard RewardsRewards Program
MyCard Rewards
Bonus Points
N/A
Pros and cons
- High annual fee: The $700 p.a. annual fee is significantly higher than mid-range rewards cards, so the value depends on using the travel perks and earning enough points.
- High interest rates: Purchase and cash advance rates of 22.49% p.a. and 22.99% p.a. mean carrying a balance can be costly if you don’t pay off purchases in full.
- Rewards program complexity: Tiered earn rates rely on how merchants are classified, and not all dining, travel or retail purchases may receive the higher earn rate.
- No Qantas Points directly: Unlike Qantas-branded variants, this card earns MyCard Reward Points rather than Qantas Frequent Flyer Points.
- Premium eligibility expectations: The high minimum credit limit and premium positioning mean it may not suit lower spenders or those who will use only a small subset of benefits.
Creditcard.com.au review
Editor Review
MyCard Prestige
Pauline Hatch
Pauline is a personal finance expert at CreditCard.com.au, with 9 years in money, budgeting and property reporting under her belt. Ask Pauline a Question about this card.
Overall Rating
The MyCard Prestige Credit Card sits at the top end of MyCard’s rewards range, pairing a very high points-earn rate on selected spend with premium travel benefits and multiple complimentary insurances. It is clearly designed for frequent travellers who are likely to make good use of airport lounges, hotel offers and travel protections.
However, the card also carries a high annual fee and standard credit card interest rates. For cardholders who only travel occasionally or who rarely use the extra perks, the cost may outweigh the benefits.
What I Like About the MyCard Prestige Credit Card
High points earning potential: Earning up to 3 points per $1 on eligible international, travel and dining spend, and 2 points per $1 at major supermarkets, petrol outlets and national retailers, gives frequent travellers and higher spenders strong points-earning potential compared with many standard rewards cards.
Generous lounge access and travel perks: Priority Pass™ membership with 15 lounge visits a year, the potential for “4th Night on Us” at Luxury Escapes hotels and Uber Premier cashback combine to offer tangible on-the-ground travel value for those who travel regularly.
Comprehensive protection package: The combination of complimentary travel insurance, mobile phone insurance, purchase protection, extended warranty and rental vehicle excess cover can provide reassurance when travelling and shopping, provided you meet the eligibility criteria and understand the policy limits.
What’s Not So Great
The trade-off for these premium features is cost. The $700 annual fee is substantial and requires consistent use of the lounge access, hotel benefits and rewards program to make sense. If you tend to travel less frequently, or do not stay at participating hotels or use Uber Premier, it may be difficult to recover the fee through value.
Interest rates on purchases and cash advances are also high, so this card is not well suited to carrying a balance. To get the best from the card, it is important to pay off purchases in full and treat the card as a points and perks tool rather than a borrowing facility.
Who Suits the MyCard Prestige Credit Card?
This card is most likely to suit Australians who:
- Travel regularly, both domestically and internationally, and can use airport lounges multiple times a year.
- Spend significantly on flights, hotels, dining, supermarkets, petrol and major retailers – where the higher points earn applies.
- Value built-in insurance cover and are comfortable reviewing and working within policy terms and limits.
- Pay their balance off in full each month and want to maximise premium perks rather than minimise interest cost.
For these cardholders, the MyCard Prestige Credit Card can act as an all-in-one premium travel and rewards solution.
Verdict: MyCard Prestige Credit Card
Best for: Frequent travellers and higher spenders who want a premium rewards card with strong earn rates and extensive travel-related benefits.
Why we like it: Up to 3 Reward Points per $1 on selected categories, 15 Priority Pass™ lounge visits a year, hotel and rideshare offers, and multiple complimentary insurance covers make this a feature-rich option for those who can use what is on offer.
Consider if: You travel several times a year, value airport lounges and hotel benefits, and will charge sizeable travel, dining and everyday spending to the card while paying off your balance in full.
Not ideal for: Occasional travellers, cardholders who prefer low fees or low rates over premium perks, or anyone likely to carry a balance from month to month.
User reviews
Rates and fees
Interest rates
Purchase rate 22.49% p.a.
Cash advance rate 22.99% p.a.
Interest free period on purchases up to 44 days
Credit limits
Minimum credit limit $20000
Maximum credit limit $100,000
Fees & repayments
Annual fee $700 p.a.
Additional cardholder fee Up to 4 – $0 p.a. each
Foreign transaction fee 3.5%
Minimum repayment
Cash advance fee 3.5% or $3.50 (whichever is greater)
Late payment fee $30
Rewards and points
Rewards program
Rewards Program 
MyCard Rewards
Bonus points N/A
Annual points cap uncapped
Bonus points spend criteria N/A
Earning points with this card
MyCard Rewards Rewards points 3 points per $1 spent
Points cap per month N/A
Overseas earn rate 3 points per $1 spent
Additional features
Complimentary insurance
International Travel Insurance Yes
Flight Inconvenience Insurance No
Transit Accident Insurance Yes
Smartphone Screen Insurance Yes
Purchase Protection Insurance Yes
Extended Warranty Insurance Yes
Rental Vehicle Excess In Australia Insurance Yes
Extras
“4th Night on Us” benefit with Luxury Escapes on eligible bookings (with annual caps and conditions)
Uber Premier $100 cashback once per calendar year when qualifying spend criteria are met (on eligible ride bookings within Australia)
MyCard Rewards Program with Pay with Points, gift card redemptions and points transfer options
Discounted hotel offers with Luxury Escapes, Expedia and Wotif (conditions and promo codes apply)
Personal concierge service via Mastercard® Travel & Lifestyle Services
Access to MyCard Instalment Plans on eligible purchases, using part of your existing credit limit
Overview
MyCard Prestige
The MyCard Prestige Credit Card is positioned as a premium rewards card for frequent travellers who want elevated benefits and a high points-earn rate on eligible spend. It charges a $700 annual fee and a retail purchase rate of 22.49% p.a., with a cash advance rate of 22.99% p.a. and up to 44 days interest-free on purchases when you pay your balance in full each month (and don’t have a balance transfer).
Cardholders can earn up to 3 MyCard Reward Points per $1 on eligible international and selected travel, dining and hotel purchases, 2 points per $1 at major supermarkets, petrol outlets and national retailers, and 1 point per $1 on other eligible transactions. The card also includes complimentary travel insurance, mobile phone insurance, purchase protection and extended warranty insurance, plus Priority Pass™ membership with 15 airport lounge visits each year, “4th Night on Us” with Luxury Escapes, and Uber Premier cashback offers when eligibility criteria are met. With a minimum credit limit of $20,000, this card is designed for higher-spending cardholders who can make use of its travel-focused extras and are comfortable with a higher annual fee.
Key features
- Purchase rate: 22.49% p.a. (ongoing retail purchases)
- Annual fee: $700 p.a.
- Cash advance rate: 22.99% p.a.
- Interest-free days: Up to 44 days on purchases when you pay your balance in full (and have no balance transfer)
- Minimum credit limit: $20,000
- Maximum credit limit: $100,000 (subject to assessment)
- Rewards earn rate: Up to 3 MyCard Reward Points per $1 on eligible spend (tiered by category)
- Airport lounge access: Priority Pass™ membership with 15 complimentary lounge visits per year (primary cardholder and accompanying guests, shared)
- Complimentary insurance: Includes international and domestic travel insurance, mobile phone insurance, purchase protection, extended warranty, and rental vehicle excess cover (eligibility and limits apply)
- Additional cardholders: Up to 4 additional cardholders, $0 additional cardholder fee (cardholders must be at least 16 years old)
- Interest-free instalments: Access to MyCard Instalment Plans on eligible purchases (subject to eligibility)
- Card network: Mastercard (accepted globally wherever Mastercard is accepted)
Minimum criteria to apply for this card
You have your personal details ready to complete the online application
Pauline is a personal finance expert at CreditCard.com.au, with 9 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger
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