There are several airlines that offer co-branded credit cards in Australia as well as several major credit card rewards programs that earn flexible rewards points that you can transfer directly to frequent flyer programs around the world.
Qantas Frequent Flyer
Qantas offers over 30 co-branded credit cards that you can use to earn Qantas points on everyday spending. With so many cards to choose from and most cards offering rewards at a flat rate across purchases, there's bound to be a Qantas credit card that fits you perfectly.
Velocity offers a large amount of co-branded credit cards and they are also a direct transfer partners of several major Australian credit card rewards programs. This makes it very easy to quickly build up lots of Velocity points on everyday spending and intro bonuses.
Flexible Travel Rewards Programs
Flexible travel rewards programs allow you to earn points that can either be redeemed directly with the card provider or be transferred directly to another rewards program. These type of programs are highly favored over standard programs due to the fact that it gives you multiple avenues to choose from when it comes to booking travel.
Virgin Australia, Air New Zealand, Singapore Airlines, and Cathay Pacific are the most common transfer partners in Australia, but there are a handful of programs that offer airlines (and hotel programs) beyond those four.
You may notice that Qantas Frequent Flyer isn't listed. This is because most programs offer their own Qantas rewards program in which points are automatically deposited into your Qantas account (thus loosing the flexibility part).
Listed below all of the flexible travel rewards programs that this site covers and the list of partners that you can transfer your points to.
American Express AU Membership Rewards
American Express AU Membership Rewards is one of the best flexible rewards programs available in Australia. It allows you to build points across several credit cards and transfer those points to over 10 partners with most partners being 2:1 or 1:1.
Amplify Rewards points can be transferred to Singapore Airlines and Virgin Australia. With cards earning up to 1.5X points, you'll be able to use Amplify credit cards from BankSA, Bank of Melbourne, and St. George to earn up to the equivalent of 0.75X miles per $1 spent.
ANZ Rewards points can be transferred to 4 partners including Singapore Airlines and Virgin Australia. ANZ credit cards offer up to 2X points on purchases and comes with great travel insurance. They even offer a card that has no foreign transaction fees.
Citi Rewards points can be transferred to up to 7 partners depending on which Citi Rewards credit card you hold. Citi offers a low-tier, mid-tier, and high-tier travel rewards credit card and their high-tier credit card features some of the best travel perks available in Australia.
CommBank Awards has a long list of transfer partners consisting of mostly airlines with a sprinkle of hotels. It's a great program if you want a lot of flexibility and they offer lots of benefits including solid travel insurance.
NAB Rewards points can be transferred to five partners including Virgin Australia Velocity and Flybuys. This allows you to easily top off your account with these programs.
Westpac Altitude Rewards
Westpac Altitude points can be transferred to 4 airline partners. Their cards offer a high amount of points on airfare purchases as well a solid return with several popular retailers which makes it easy to earn rewards transferable to their airline partners.