Qantas Money wins big for innovation in the Mozo Experts Choice Credit Card Awards
In the recent Mozo Experts Choice Awards for Credit Cards, we looked at some of the most innovative developments the credit card market had to offer this year, awarding the Best New Credit Card of the Year, Best New Rewards Credit Card of the Year and Credit Card Innovation.
Here’s a closer look at the winners and what they offer Aussie spenders.
Credit Card Innovation Award - Qantas Money App
Qantas Money took out the 2018 Credit Card Innovation Award for its Qantas Money App. This is a budgeting, financial management app, but what really impressed our judges was that users can connect transaction accounts from other banks and institutions to the app.
This allows Qantas Money cardholders to get a better overview of their spending, revealing insights across their whole financial setup.
“Banks don’t always like to share. You’d usually expect to need a third party app to get this kind of broad overview of accounts kept with different providers, but Qantas Money has taken a step here that we think is genuinely useful for customers,” said Mozo Data Manager Peter Marshall.
“Qantas Money are clearly looking to the future with this one.”
The Qantas Money App was picked as the winner from amongst new technology emerging in the last 12 months that related to cards, payment technology or credit card offers to find the most impressive offer. The criteria for winning included how unique and practical for customers it was, as well as whether the judges thought it signalled a coming trend in the market.
Best New Credit Card of the Year - Commonwealth Bank Essentials Card
Big bank CommBank took out the award for Best New Credit Card of the Year in 2018, with a low rate starter card that comes with a 9.90% interest rate and maximum $3,000 credit limit.
The Essentials Card came out in March, and has a $60 fee, which is discounted to $24 when a cardholder signs up for the auto payment plan.
“This card is a thoughtful move from a big bank, and really welcome in the midst of all the controversy surrounding the Royal Commission. The Essentials Card really does seem to be an offer designed to promote responsible spending and management of your credit,” Marshall said.
Best New Rewards Credit Card of the Year - Qantas Money Qantas Premier Everyday Credit Card
Qantas Money was back at it again, showing that their recent innovations don’t stop at the App.
This low fee alternative to Qantas Money’s Platinum rewards card option came out toward the end of 2017. Qantas Premier Everyday Credit Cardholders can earn up to 0.75 Qantas Points per $1 spent on the card, and there’s no annual fee to bite into the rewards value.
It also come with perks like complimentary travel insurance, a concierge service and higher rewards points on overseas spending.
“This card comes with a great range of features, without the price tag that can sometimes make rewards cards a questionable addition to your wallet,” said Marshall.