NAB Qantas Rewards Premium Card

NAB

19.99%

0% for 15 months

$250

NAB Qantas Rewards Premium Card Review

Review updated: 17 August 2015

Review published: 22 August 2014

What's hot:

  • Mozo's Experts Choice Awards Winner 2015

  • 40,000 bonus Qantas Points

  • 0% p.a on balance transfers for 15 months

What's not:

  • $250 annual fee

Mozo snapshot:

If you're after a rewards card where you can earn direct Qantas points, the NAB Qantas Rewards Premium Card just picked up a Mozo Experts Choice Award for Best Value Premium Reward Credit Card. Apply now and you'll be off redeeming rewards fast with the 40,000 Qantas points bonus offer after your first purchase.

Key features:

The NAB Qantas Rewards Premium Card is two cards on the one account. An American Express card for maximum points earning and a Visa card which you can use for tap n' go purchases under $100 or around the world wherever Visa is accepted. The Amex card has a higher earning rate at 1.5 points per dollar spent, the Visa earning rate is 0.5 points per dollar. There is a 100,000 point cap per month on the account but this shouldn't be a problem for most people.

Points are directly redeemed via Qantas Frequent Flyer for a range of rewards including flights, accommodation, and even shopping at the newly launched Qantas online shopping mall. If you are not already a member of the Qantas Frequent Flyer program you'll get complimentary membership, a saving of $89.50.

The Qantas Rewards Premium Card has a standard 19.99% purchase interest rate but you can get up to 44 interest free days. There is a 0% balance transfer offer for 15 months if you want to transfer some debt across from another card to save on interest. If you use your card internationally, either in person or online, there is a 3% foreign exchange margin on all transactions.

There is a steep $250 annual card fee so you'll want to make sure you are getting value from all of the added extras. Good news is there are plenty of them including seven complimentary insurances such as overseas travel, price protection, purchase protection and extended warranty. You'll also have access to NAB's Platinum concierge service 24/7 as well as both Visa Entertainment and Amex Connect programs giving you special access and discounts to a range of events and activities.



Who it's good for:

Rewards seekers that want to earn direct points with Qantas.

Any catches?

Just be sure you are using up all of the card's features so that you can get value from that $250 annual card fee.

How are NAB credit cards rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
7.2

Based on 735
NAB credit cards reviews

6.3 6.4 7.2 7.6 7.4

Read NAB credit card reviews by the Mozo community

Latest reviews of NAB Qantas Rewards Premium Card

NAB

NAB Qantas Rewards Premium Card credit card review

Overall rating   9 / 10

Great points earning potential

We chose NAB as our Credit Card provider for the following reasons: - 40,000 Qantas FF points sign on bonus - Availability of 2 cards, AMEX and Visa with a secondary card holder option also available meaning my wife also has cards - strong...
Full review

We chose NAB as our Credit Card provider for the following reasons: - 40,000 Qantas FF points sign on bonus - Availability of 2 cards, AMEX and Visa with a secondary card holder option also available meaning my wife also has cards - strong Qantas FF point earning via AMEx (1.5/dollar spent) - Sign on process was seamless and NAB branch helped immediately to change pins and activate cards; great service

    Price   8 / 10

    Features   9 / 10

    Customer service   9 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Paul (VIC), reviewed 9 days ago

Was this review helpful? Yes

Flag this review

NAB

NAB Qantas Rewards Premium Card credit card review

Overall rating   6 / 10

Standard credit card - not worth the annual fee

Great Qantas Frequent Flyer points. Internet banking not set up immediately upon sign-up - have to organise by yourself as a separate step.
Full review

Great Qantas Frequent Flyer points. Internet banking not set up immediately upon sign-up - have to organise by yourself as a separate step.

    Price   6 / 10

    Features   8 / 10

    Customer service   4 / 10

    Convenience   5 / 10

    Trust   5 / 10

Less

Britt (VIC), reviewed about 1 month ago

Was this review helpful? Yes

Flag this review

NAB

NAB Qantas Rewards Premium Card credit card review

Overall rating   4 / 10

Reduce interest rates

I do not like the high interest charge. The difference between the low rate card and premium card is about 7%, even when the central Bank rate is very low.
Full review

I do not like the high interest charge. The difference between the low rate card and premium card is about 7%, even when the central Bank rate is very low.

    Price   3 / 10

    Features   5 / 10

    Customer service   5 / 10

    Convenience   6 / 10

    Trust   6 / 10

Less

Margaret (QLD), reviewed 2 months ago

Was this review helpful? Yes

Flag this review

NAB

NAB Qantas Rewards Premium Card credit card review

Overall rating   6 / 10

Try to use card to gain award points

As card is paid off monthly interest rate is acceptable.
Full review

As card is paid off monthly interest rate is acceptable.

    Price   8 / 10

    Features   8 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   9 / 10

Less

Joanne (SA), reviewed 2 months ago

Was this review helpful? Yes

Flag this review

NAB

NAB Qantas Rewards Premium Card credit card review

Overall rating   9 / 10

Great Qantas reward point program

NAB's Qantas Frequent Flyer credit card is amazing. Great point offer and always extra bonus points. In two years I have accumulated enough points to 'buy' a return Business Class ticket Sydney-Dublin (IRELAND) - Sydney via Dubai (leaving in...
Full review

NAB's Qantas Frequent Flyer credit card is amazing. Great point offer and always extra bonus points. In two years I have accumulated enough points to 'buy' a return Business Class ticket Sydney-Dublin (IRELAND) - Sydney via Dubai (leaving in August).

    Price   8 / 10

    Features   10 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   9 / 10

Less

Michael (NSW), reviewed 3 months ago

Was this review helpful? Yes

Flag this review

Revealing rewards

How do we do it?

To work out the "Rewards value minus fees" in our Rewards Revealer we:

  • calculate how many points you'd get each year,
  • figure out how many flights or gift cards or cashback credits you could get for those points,
  • work out what that's actually worth to you,
  • take off the annual fee you'd pay.

More details:

  • Our calculations are designed to help you compare the value of different rewards schemes. To do this, we've looked at earning a one-way Sydney-Melbourne flight excluding taxes and charges, a return Sydney-London flight excluding taxes and charges, a $100 shopping Gift Card and $100 cashback. Most cards will also offer other rewards, which may be worth more or less than the ones we've shown.
  • We have made no allowance for bonus points for using your card at specific merchants, introductory offers or special offers. We have not assigned any value to instant discounts, insurances, ticketing and concierge services or other such benefits.
  • Rewards value calculations do not take credit card interest into account. If you do not pay off your card each month you may be better off looking for a card based on interest rates than on the value of rewards.
  • In products that have more than one card, a different mix of spend between American Express / Visa / MasterCard will give different results. Mozo's Rewards Revealer lets you choose the mix based on the way you would use such a product, and gives you tailored results.
  • We assume flights purchased with airline points are 'classic' or 'reward' economy seats with restricted seat availability. 'Any seat' rewards will probably cost more.
  • To compare the value of flight rewards, we sample online retail flight prices once a quarter based on the average price on a Wednesday 3 months in advance but outside NSW school holidays. For domestic flights we take the lowest available fare from each flight on that day from Qantas Red e-deal, Virgin Blue Blue Saver including baggage and Jetstar Jetsaver including baggage. We calculate the average price excluding taxes and surcharges for each airline, and also the average across all airlines (which we use when rewards are travel agent vouchers). For international flights, we take the lowest available fares on that same Wednesday from each of Qantas, Emirates, Singapore, Virgin Atlantic and Malaysian, assuming a return flight 2 weeks later, calculate the average price before taxes and surcharges and use this as our assumed cost of a flight on any airline.
  • Shopping rewards are based on $100 gift cards from a major national department store.
  • We make every effort to ensure our calculations are correct and up to date but make no guarantees.

Rewards scheme

  • Points are automatically credited to the Qantas Frequent Flyer program.
  • All rewards are redeemed via Qantas Frequent Flyer.
  • Bonus points on selected Qantas products and services, including eligible Qantas flights.

Privileges

  • Concierge
  • Travel Insurance
  • Extended Warranty
  • Purchase Protection
  • Guaranteed Pricing
  • Domestic Hotel Burglary Insurance

Special offers

  • Apply by 11 October 2015 and make a purchase to receive 40,000 bonus Qantas Points.

Value of rewards points

  • Need to spend $30,200 (Visa) or $10,067 (Amex)

  • Need to spend $16,000 (Visa) or $5,333 (Amex)

  • Need to spend $256,000 (Visa) or $85,333 (Amex)

  • at $50,000 monthly

  • Never

Details behind our 'value of rewards' calculations

  • 1.5 points per dollar on Amex, 0.5 points per dollar on Visa, up to $50,000 per month

  • 15100 points buys a Myer $100 Gift Card

  • 8000 points buys a Qantas Syd-Mel flight

  • 128000 points buys a Qantas London flight

* How did we do it? Find out...

Rates

  • 19.99%

  • none

  • 0% for 15 months

  • no

  • 21.74%

  • 44

Fees

  • $250.00

  • none

  • none

  • none

  • $5.00

  • 1.75%, Min $1.75

  • 3.00%

  • $7.00

  • $5.00

  • $0.00

Other financial bits

  • $25.00

  • 2.0

Features

  • 1

  • none

  • none

About NAB

National Australia Bank is one of the big four banks who provide a large variety of financial products to the Australian Community. In recent times NAB has set itself apart from the other big four banks; by expanding their ATM network, removing many fees and maintaining low standard variable home loan rates. NAB's changes to its financial products have made their home loan, credit card, loans, savings accounts and personal loans more competitive within the banking industry.

Compare other credit cards