With the American Express Qantas Premium Credit Card, points are redeemed via the Qantas rewards program, and if you’re not already a member of the Qantas Frequent Flyer program you'll get complimentary membership (valued at $89.50).
Your points will be stacking up fast with the generous 1.25 points per $1 spent earn rate on standard purchases and 1 additional Qantas point per dollar spent on Qantas products and services in Australia (0.5 points at at government bodies in Australia). What's even better, is that there's no cap on your points earning power. And the $0 annual fee for up to 4 extra card holders will help you earn even more.
There is a $249 annual fee, so make sure you make full use of the generous earn rate, complimentary insurances including travel insurance and purchase protection, complimentary Qantas epiQure Premium Membership and the two yearly Qantas Club Lounge invitations (available after your first spend on selected Qantas products annually), to outweigh this cost.
The card also comes with an introductory 0% balance transfer offer for the first 12 months, but a one-off 1% credit establishment fee does apply. You’ll have 44 interest free days if you pay your balance in full every month, but make sure you do to avoid the $30 late payment fee and high 20.74% purchase rate.
Who it's good for:
A generous points earning scheme and an array of complimentary insurance benefits makes the American Express Qantas Premium Credit Card a top choice for high flyers and shoppers wanting to take full advantage of the Qantas network.
The card comes with a 3% foreign exchange margin which can add up when you’re making multiple purchases overseas. So while this card is great for racking up points, when jet-setting internationally make sure you bring a travel friendly card with you by comparing travel money deals before you go.