NAB Qantas Rewards Premium Card

  • NAB
  • 19.99%

  • 4.99% for 6 months

  • $250

  • 44

NAB Qantas Rewards Premium Card Review

Review updated: 20 October 2014
Review published: 22 August 2014

What's hot:

  • Bronze Medal Winner in Mozo's Experts Choice Awards 2014
  • 40,000 bonus Qantas Points
  • 7 complimentary insurances

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 Bronze medal in Mozo's Experts Choice Rewards Credit Cards Awards for top value. Apply by 18 January 2015 and you'll be off redeeming rewards fast with the 40,000 Qantas points bonus offer.

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 4.99% balance transfer offer for 6 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
NAB credit card 7.2 Based on 585
NAB credit card reviews
6.2 6.2 7.3 7.8 7.3

Read NAB credit card reviews by the Mozo community

Latest reviews of NAB Qantas Rewards Premium Card

  • Features and benefits

    1. Overall customer rating
    2. (Reviewed 2 months ago)

    The application process was simple and the benefits and features of the credit card are well worth while. All interaction with the bank in setting up the facility were quick and easy.  Full review 

    The application process was simple and the benefits and features of the credit card are well worth while. All interaction with the bank in setting up the facility were quick and easy.


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    NAB credit card review by Ross from Northern Territory

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  • Great product

    1. Overall customer rating
    2. (Reviewed 5 months ago)

    I like the NAB credit cards. In addition to interest free periods, I also receive great points when using the Amex or VISA.  Full review 

    I like the NAB credit cards. In addition to interest free periods, I also receive great points when using the Amex or VISA.


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    NAB credit card review by Kylie from New South Wales

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  • Great customer service, always very helpful

    1. Overall customer rating
    2. (Reviewed 6 months ago)

    The rewards program is excellent. l recently purchased flights to Bali and to Melbourne with the amount of points accumulated. Be careful to pay your closing balance by the due date, as they will charge you a high interest rate from the day after ...  Full review 

    The rewards program is excellent. l recently purchased flights to Bali and to Melbourne with the amount of points accumulated. Be careful to pay your closing balance by the due date, as they will charge you a high interest rate from the day after until the closing balance is paid in full.


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    NAB credit card review by Gordon from Western Australia

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  • Easy, good features, good service

    1. Overall customer rating
    2. (Reviewed 7 months ago)

    Extensions to credit card limits were easy to arrange. Direct payment of credit card easy to arrange. No extra/hidden fees (that I know of!).  Full review 

    Extensions to credit card limits were easy to arrange. Direct payment of credit card easy to arrange. No extra/hidden fees (that I know of!).


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    NAB credit card review by Joanne from New South Wales

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  • Good rewards program and good customer service

    1. Overall customer rating
    2. (Reviewed 7 months ago)

    This credit card probably doesn't have the best interest rate available but I like the Qantas rewards that I can accrue. Although dealing the NAB by phone can be a chore if you don't remember your verbal password and last transactions, etc, the s...  Full review 

    This credit card probably doesn't have the best interest rate available but I like the Qantas rewards that I can accrue. Although dealing the NAB by phone can be a chore if you don't remember your verbal password and last transactions, etc, the staff is always understanding in the event that I might be late in meeting a bill payment. I've had a credit card with NAB for the last 20 years so I am a loyal customer. They have not given me reason to look elsewhere. Loyalty is important and lacking nowadays.


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    NAB credit card review by Lisa from New South Wales

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  • Show more reviews

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

Special offers

  • Apply by 18 January 2015 and make a purchase to receive 40,000 bonus Qantas Points.

Value of rewards points

  • Example reward
  • You'd need to spend
  •  
  • Visa
  • Amex
  • $100 gift card
  • $30,200
  • $10,067
  • Flight: Sydney-Melbourne
  • $16,000
  • $5,333
  • Flight: Sydney-London
  • $256,000
  • $85,333
  • Points are capped?
  • at $100,000 monthly
  • Points expire?
  • Never

Details behind our 'value of rewards' calculations

  • Points earning 1.5 points per dollar on Amex, 0.5 points per dollar on Visa, up to $100,000 per month
  • $100 gift card 15100 points buys a Myer $100 Gift Card
  • Flight: Sydney-Melbourne 8000 points buys a Qantas Syd-Mel flight
  • Flight: Sydney-London 128000 points buys a Qantas London flight

*how did we do it? find out...

Rates

Purchase rate
19.99%
Intro purchase rate
none
Balance transfer rate
4.99% for 6 months
Balance transfer revert to cash
no
Cash advance rate
21.74%
Interest free days
44

Fees

Annual card fee
$250.00
Introductory fee
none
Annual fee spend threshold
none
Reward program fee
none
Late payment fee
$5.00
Cash advance fee
1.75%, Min $1.75
Foreign exchange margin
3.00%
Duplicate statement fee
$7.00
Transaction verification fee
$5.00
Additional card fee
$0.00

Other financial bits

Minimum repayment amount
$25.00
Minimum repayment percent
2.0

Features

Additional cardholders
1
Other restrictions
none
Other benefits
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.

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