New Qantas rewards credit card: all you need to know about points, fees and bonuses

Monday 05 June 2017

Article by Kelly Emmerton

Qantas has today launched its own platinum rewards credit card, focused on bringing bumper rewards value to Qantas Frequent Flyers. The card was launched as part of the Qantas Money Platform, bringing it together with the Qantas Cash Card and the new Qantas Money app.

New Qantas rewards credit card: all you need to know about points, fees and bonuses

Qantas is no small player in the rewards card market - around 35% of credit card spending in Australia earns Qantas points on co-branded cards and the Qantas Cash card accounts for 17% of the prepaid travel card market. So having its own branded credit card was the next logical step, according to Qantas Loyalty CEO Lesley Grant.

“From our perspective, this is an important next step in evolving the Qantas Loyalty business. It’s an expansion of the financial products we offer and opens the opportunity for us to share directly in the card economics,” she said.

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Issued by credit card giant Citi, the newly released Qantas Premier Mastercard is aimed at members of the Qantas Frequent Flyer program who want to maximise their points earn, and also at other travel lovers who might want to join the program.

“We know the option to earn Qantas Points influences consumer behaviour and so we expect the high earn rate attached to this card to make it very popular,” said Grant.

"The card has extra appeal for those who fly regularly, because of its ability to access fare discounts and lounge passes.”

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As for the details of the card itself, it seems to be pretty standard fare for a rewards credit card - it comes with a $149 annual fee in the first year and $299 afterwards, 19.99% purchase rate and cash advance rate of 21.99%.

But there is some pretty generous rewards earning power on offer. Points are uncapped and the earn rate on the new card comes in at:

  • 1 Qantas point per $1 spent on eligible purchases in Australia
  • 1.5 Qantas point per $1 spent on eligible purchases overseas
  • 2 Qantas point per $1 spent on Qantas purchases, including flights and retail items from the Qantas online store

Spenders snapping up the new offer can also get their hands on 60,000 bonus Qantas points when they spend at least $3,000 within 90 days of being approved for the card. That’s enough points to bag you a flight from Sydney to London.

Other key features for rewards lovers to take note of include two complimentary lounge passes each year, complimentary travel insurance and discounts of up to 20% on selected domestic companion fares once a year when booking with the card through the Qantas Premier Concierge. The concierge also helps cardholders secure restaurant reservations and tickets to exclusive events.

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Also launched today was the Qantas Money app, which allows users to see their balance, statements and transaction history while on the go. It also categorises spends and can connect to accounts from other financial institutions, helping users to manage their overall finances.

Think it’s time you updated your rewards card arsenal? Make sure you take our Rewards Revealer for a whirl to find your perfect match.

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