Credit Cards with Rental Vehicle Insurance

Ranked by estimated first-year value after fees. Uses each offer's best redemption, assumes the bonus is earned and the balance is paid in full.

1. The American Express Platinum Card Referral Offer

American Express points

$1,450 annual fee

Referral offerHow referrals work

Offer

225,000 American Express points

Loss Damage Waiver Cover insures loss or damage to a rental vehicle hired for less than 31 days and paid on the Card, up to $125,000; driver must be aged 21-79; motorcycles, campervans, buses and vehicles over $125,000 excluded.

Spend $5,000 in 90 days (~$1,667/mo)

Craig's Take

Moderate spend — $56/day for 90 days. Excellent ongoing earn rate. $450 cashback offsets the $1450 fee.

Estimated value after fees $1,408

Velocity flights

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2. Qantas Premier Titanium

Qantas points

$1,200 annual fee

Offer

150,000 Qantas points

Rental vehicle excess cover up to $5,000 per covered person overseas or $3,000 domestic, $250 excess, when the hire is paid to the card (hire under 30 days).

Spend $5,000 in 90 days (~$1,667/mo)

Craig's Take

Moderate spend — $56/day for 90 days. Excellent ongoing earn rate. High $1200 fee — make sure you'll use the perks.

Estimated value after fees $1,300

Qantas flights

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3. Westpac Altitude Velocity Black (Existing customers)

Velocity points

$295 annual fee

Existing customers onlyCan I become an existing customer?

Offer

90,000 Velocity points

Rental Vehicle Excess in Australia cover up to the lesser of the excess specified in the rental agreement or $5,500 when the entire rental is charged to the card account; $300 excess per claim. Overseas rental vehicle excess up to $5,500 is also covered under International Travel Insurance

Spend $6,000 in 90 days (~$2,000/mo)

$200 first year annual fee, $295 thereafter

Craig's Take

Moderate spend — $67/day for 90 days. Poor ongoing earn rate.

Estimated value after fees $1,216

Velocity flights

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4. Westpac Altitude Qantas Black (Reduced first year annual fee for Westpac Customers)

Qantas points

$295 annual fee

Existing customers onlyCan I become an existing customer?

Offer

90,000 Qantas points

Rental vehicle excess cover in Australia up to the amount in the rental agreement or $5,500 (whichever is lesser) when the rental is charged to the card; $300 excess per claim

Spend $6,000 in 90 days (~$2,000/mo)

$200 first year annual fee, $295 thereafter

Offer Expires in 17 days (2026-10-28)

Craig's Take

Moderate spend — $67/day for 90 days. Poor ongoing earn rate.

Estimated value after fees $1,123

Qantas flights

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5. Westpac Altitude Velocity Black

Velocity points

$295 annual fee

Offer

90,000 Velocity points

Rental Vehicle Excess in Australia cover up to the lesser of the excess specified in the rental agreement or $5,500 when the entire rental is charged to the card account; $300 excess per claim. Overseas rental vehicle excess up to $5,500 is also covered under International Travel Insurance

Spend $6,000 in 90 days (~$2,000/mo)

Craig's Take

Moderate spend — $67/day for 90 days. Poor ongoing earn rate.

Estimated value after fees $1,121

Velocity flights

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6. Westpac Altitude Qantas Black

Qantas points

$295 annual fee

Offer

90,000 Qantas points

Rental vehicle excess cover in Australia up to the amount in the rental agreement or $5,500 (whichever is lesser) when the rental is charged to the card; $300 excess per claim

Spend $6,000 in 90 days (~$2,000/mo)

Offer Expires in 17 days (2026-10-28)

Craig's Take

Moderate spend — $67/day for 90 days. Poor ongoing earn rate.

Estimated value after fees $1,028

Qantas flights

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7. Westpac Altitude Velocity Platinum (Reduced first year annual fee for Westpac Customers)

Velocity points

$175 annual fee

Offer

70,000 Velocity points

Rental vehicle excess cover up to $5,500 for damage or theft of a rental vehicle, both overseas (under International Travel Insurance) and in Australia, when the rental is charged to the card; $300 excess

Spend $4,000 in 90 days (~$1,333/mo)

$99 first year annual fee, $175 thereafter

Craig's Take

Easy $44/day spend to hit the bonus. Poor ongoing earn rate.

Estimated value after fees $988

Velocity flights

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8. Westpac Altitude Velocity Platinum

Velocity points

$175 annual fee

Offer

70,000 Velocity points

Rental vehicle excess cover up to $5,500 for damage or theft of a rental vehicle, both overseas (under International Travel Insurance) and in Australia, when the rental is charged to the card; $300 excess

Spend $4,000 in 90 days (~$1,333/mo)

Craig's Take

Easy $44/day spend to hit the bonus. Poor ongoing earn rate.

Estimated value after fees $912

Velocity flights

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9. MyCard Premier

MyCard points

$300 annual fee

Offer

120,000 MyCard points

Rental vehicle excess insurance in Australia covering damage or theft excess up to $10,000 per rental period when the entire rental is charged to the card; $100 excess per claim

Spend $7,000 in 90 days (~$2,333/mo)

Craig's Take

Moderate spend — $78/day for 90 days. Good ongoing earn rate. $72 cashback offsets the $300 fee.

Estimated value after fees $881

Velocity flights

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10.

10. MyCard Premier Velocity

Velocity points

$300 annual fee

Offer

60,000 Velocity points

Rental vehicle excess insurance in Australia covering damage or theft excess up to $10,000 per rental period when the entire rental is charged to the card; $100 excess per claim

Spend $7,000 in 90 days (~$2,333/mo)

Craig's Take

Moderate spend — $78/day for 90 days. Average ongoing earn rate. $72 cashback offsets the $300 fee.

Estimated value after fees $852

Velocity flights

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11.

11. Westpac Altitude Qantas Platinum

Qantas points

$175 annual fee

Offer

70,000 Qantas points

Rental Vehicle Excess in Australia cover up to the excess in the rental agreement or $5,500, whichever is lesser; $300 excess

Spend $4,000 in 90 days (~$1,333/mo)

Craig's Take

Easy $44/day spend to hit the bonus. Poor ongoing earn rate.

Estimated value after fees $841

Qantas flights

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12.

12. CommBank Ultimate Awards Credit Card (with $4000 per month spend)

Commbank points

$420 annual fee

Offer

50,000 Commbank points

Rental Vehicle Insurance Excess cover up to $2,250 under the activated Overseas Travel Policy

Spend $9,000 in 90 days (~$3,000/mo)

Craig's Take

Moderate spend — $100/day for 90 days. Poor ongoing earn rate.

Estimated value after fees $675

Coles gift cards

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13.

13. ANZ Rewards Platinum

ANZ points

$149 annual fee

Offer

85,000 ANZ points

Rental vehicle excess cover in Australia for damage or theft up to $5,000 per cardholder or spouse, plus up to $750 for return of the rental vehicle

Spend $3,500 in 90 days (~$1,167/mo)

Craig's Take

Easy $39/day spend to hit the bonus. Good ongoing earn rate. $50 cashback offsets the $149 fee.

Estimated value after fees $668

Velocity flights

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14.

14. NAB Qantas Rewards Signature Card existing customer offer

Qantas points

$449 annual fee

Existing customers onlyCan I become an existing customer?

Offer

50,000 Qantas points

Complimentary rental vehicle excess in Australia insurance

Spend $5,000 in 90 days (~$1,667/mo)

Craig's Take

Moderate spend — $56/day for 90 days. Good ongoing earn rate. $200 cashback offsets the $449 fee.

Estimated value after fees $611

Qantas flights

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15.

15. ANZ Frequent Flyer Black

Qantas points

$425 annual fee

Offer

50,000 Qantas points

Rental vehicle excess cover within the international travel insurance, up to $5,000 per cardholder or spouse for rental vehicle damage or theft (plus up to $750 for return of the rental vehicle).

Spend $6,000 in 90 days (~$2,000/mo)

Craig's Take

Moderate spend — $67/day for 90 days. Excellent ongoing earn rate. High $425 fee — make sure you'll use the perks.

Estimated value after fees $471

Qantas flights

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16.

16. NAB Qantas Rewards Signature Card

Qantas points

$449 annual fee

Offer

40,000 Qantas points

Complimentary rental vehicle excess in Australia insurance

Spend $5,000 in 90 days (~$1,667/mo)

Craig's Take

Moderate spend — $56/day for 90 days. Good ongoing earn rate. $200 cashback offsets the $449 fee.

Estimated value after fees $451

Qantas flights

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17.

17. MyCard Premier Qantas

Qantas points

$350 annual fee

Offer

40,000 Qantas points

Rental vehicle excess insurance in Australia covering damage or theft up to $10,000 per rental period when the full rental cost is charged to the card account; $100 excess.

Spend $7,000 in 90 days (~$2,333/mo)

Craig's Take

Moderate spend — $78/day for 90 days. Average ongoing earn rate.

Estimated value after fees $346

Qantas flights

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18.

18. NAB Qantas Rewards Premium Card

Qantas points

$295 annual fee

Offer

25,000 Qantas points

Complimentary rental vehicle excess in Australia insurance

Spend $4,000 in 90 days (~$1,333/mo)

Craig's Take

Easy $44/day spend to hit the bonus. Average ongoing earn rate. $150 cashback offsets the $295 fee.

Estimated value after fees $287

Qantas flights

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19.

19. Westpac Altitude Rewards Black

Westpac points

$295 annual fee

Offer

100,000 Westpac points

Rental Vehicle Excess in Australia Insurance covers rental vehicle excess up to the amount in the rental agreement or $5,500 (whichever is lesser) when the full rental is charged to the card; $300 excess

Spend $12,000 in 365 days (~$986/mo)

$200 first year annual fee, $295 thereafter

Craig's Take

Easy $33/day spend to hit the bonus. Average ongoing earn rate.

Estimated value after fees $285

Krisflyer flights

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20.

20. Westpac Altitude Rewards Platinum (existing customers)

Westpac points

$175 annual fee

Existing customers onlyCan I become an existing customer?

Offer

75,000 Westpac points

Rental vehicle excess cover in Australia up to the amount specified in the rental agreement or $5,500, whichever is lesser, when the rental is charged to the card account; $300 excess per claim

Spend $3,000 in 90 days (~$1,000/mo)

$49 first year annual fee, $175 thereafter

Craig's Take

Easy $33/day spend to hit the bonus. Excellent ongoing earn rate.

Estimated value after fees $281

Krisflyer flights

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21.

21. ING Orange One Rewards Platinum

Cashback points

$149 annual fee

Offer

0 Cashback points

Rental vehicle excess cover up to the amount in the rental agreement or $2,250, whichever is less (part of complimentary travel insurance)

Spend $0 in 0 days

Craig's Take

Estimated value after fees $211

Cashback at $3,000/month spend

Read my analysis

22.

22. ANZ Frequent Flyer Platinum

Qantas points

$295 annual fee

Offer

25,000 Qantas points

Rental Vehicle Excess Insurance in Australia covering rental vehicle damage or theft up to the agreement amount or $5,000 (whichever is lesser) when the full rental is charged to the card; $100 excess per claim

Spend $3,500 in 120 days (~$875/mo)

Craig's Take

Easy $29/day spend to hit the bonus. Good ongoing earn rate.

Estimated value after fees $147

Qantas flights

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