The Qantas AMEX Ultimate credit card has a high annual fee of $450. When you consider it includes a free domestic economy return flight every year this is great value. Standard card features include 44 interest free days, 20.74% purchase rate and it comes with a free additional card so you can get your partner to help build up those rewards points. Pay those bills on time or you'll be hit with a $30 late payment fee.
If you have a debt you want to transfer to the new card there is a 0.99% balance transfer rate for 6 months, but this also comes with an upfront 1% credit establishment fee for any balances transferred.
Ultimately, what makes this card stand out from the crowd is the 50,000 bonus points on offer if you apply and are approved before 15 March 2015. This is one of the highest bonus point offers in the market and is simple to accrue simply by using your card (5,000 points) and spending a min of $500 on the card (42,500) in the first three months and you will also get 2,500 points when you use the card for a Qantas purchase.
Cardholders can earn points a plenty. For every $1 spent on Qantas and at restaurants around Australia you will earn 3 points, you will earn 2 points for every $1 spent overseas and on eligible airlines, tour operators and cruises a 1 point per $1 spent on standard purchases (except on telecommunications, insurance, utility and government agency spends where you will earn just 0.5 points)
The Qantas Amercian Express Ultimate credit card also comes with those coveted AMEX service benefits such as free domestic and international travel insurance, refund protection and purchase protection insurance and global 24/7 customer service.
Who it's good for:
The Qantas AMEX Ultimate credit card is perfect for anyone that prefers flying within the Qantas network and pays off their full balance regularly, otherwise that 20.74% interest rate will sting. You'll also need to be earning more than $65,000 a year to be eligible.
If you're not already a Qantas Frequent Flyer member you'll have to join which will cost you $89.50. If you're planning on using the free travel insurance attached the card you'll need to purchase the trip on your Qantas AMEX Ultimate credit card or with QFF reward points for it to be valid.