American Express Qantas Premium Card

20.74% p.a.

0% p.a. for 12 months and then 20.74% p.a. (1.00% balance transfer fee)

$249

American Express Qantas Premium Card Review

Rates and fees information correct as at 24 April 2018.

Review published: 4 January 2017

What's hot:

  • 30,000 Qantas Points bonus offer

  • Uncapped points earning

  • Complimentary features like travel insurance and purchase protection

  • Two free Qantas Club lounge invitations each year after your first Card spend on selected Qantas products

What's not:

  • 20.74% purchase rate

  • $249 annual fee

Mozo snapshot:

Are you a frequent flyer or shopper who’s looking for a credit card to maximise your rewards? Well have we got the credit card for you. The American Express Qantas Premium Credit Card allows you to earn 1.25 Qantas Points for every $1 you spend on eligible purchases. If that’s not enough, you’ll also be eligible for the 30,000 bumper bonus point offer if you spend $3,000 on purchases within the first 3 months.

Key features:

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.

Any catches?

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.

How are American Express credit cards rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
7.3

Based on 255
American Express credit cards reviews

6.1 7.2 7.3 6.7 7.5

Read American Express credit card reviews by the Mozo community

Latest reviews of American Express Qantas Premium Card

American Express

American Express Qantas Premium Card credit card review

Overall rating   8 / 10

Online banking has never been easier!

Convenient locations and helpful staff.

Full review

Convenient locations and helpful staff.

    Price   6 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   9 / 10

    Trust   8 / 10

Less

Drew (SA), reviewed over 2 years ago

American Express

American Express Qantas Premium Card credit card review

Overall rating   8 / 10

Great service

Westpac has given me very good service and I'm pleased with the extras they provide.

Full review

Westpac has given me very good service and I'm pleased with the extras they provide.

    Price   5 / 10

    Features   7 / 10

    Customer service   7 / 10

    Convenience   7 / 10

    Trust   7 / 10

Less

Iris (QLD), reviewed almost 3 years ago

American Express

American Express Qantas Premium Card credit card review

Overall rating   8 / 10

Fantastic cashbacks and points rewards system

American Express is fantastic due to multiple cashback offers for purchases on Australian brands. Furthermore, it allows me to earn 1.5x points towards my Qantas Frequent flyers, vs lower equivalents such as my visa platinum Qantas card.

Full review

American Express is fantastic due to multiple cashback offers for purchases on Australian brands. Furthermore, it allows me to earn 1.5x points towards my Qantas Frequent flyers, vs lower equivalents such as my visa platinum Qantas card.

    Price   7 / 10

    Features   6 / 10

    Customer service   6 / 10

    Convenience   8 / 10

    Trust   7 / 10

Less

Mann (VIC), reviewed over 3 years ago

American Express

American Express Qantas Premium Card credit card review

Overall rating   10 / 10

The perfect card for the world traveller.

I have used my AMX card for many years both here and during my many overseas business trips. I found this the perfect credit card for my partner and I, the rewards program is second to none and I just love the look of the card. I am proud to have...

Full review

I have used my AMX card for many years both here and during my many overseas business trips. I found this the perfect credit card for my partner and I, the rewards program is second to none and I just love the look of the card. I am proud to have the AMX card in my wallet and feel very privileged when it is accepted at the point of purchase, be it an airline, hotel, restaurant or retail store...it makes me feel IMPORTANT.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Colin (SA), reviewed over 4 years ago

American Express

American Express Qantas Premium Card credit card review

Overall rating   8 / 10

Great rewards card, shame about the merchant fees

Very good product, with great rewards and service. The only downside is having to use another card to avoid merchant fees with some vendors. Great for travelling, particularly in the USA.

Full review

Very good product, with great rewards and service. The only downside is having to use another card to avoid merchant fees with some vendors. Great for travelling, particularly in the USA.

    Price   6 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   7 / 10

    Trust   10 / 10

Less

Mozo reviewer (QLD), reviewed over 4 years ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

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 Australia Saver including baggage and Jetstar Starter 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, Malaysian, Etihad, Singapore, Cathay Pacific and Thai, 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.
  • Earn 0.5 Qantas Points for Government charges. Earn 1 additional Qantas Point per $1 spent on selected Qantas products and services in Australia.
  • Two complimentary Qantas Club invitations each year when you spend at Qantas.

Privileges

  • Travel Insurance
  • Purchase Protection
  • Account alerts by SMS

Special offers

  • Receive 30,000 bonus Qantas Points when you apply online as a new Card Member, are approved and spend $3,000 within the first 3 months.

Value of rewards points

  • Need to spend $12,928 (AmEx)

  • Need to spend $6,400 (AmEx)

  • Need to spend $96,000 (AmEx)

  • Uncapped

  • Never

Details behind our 'value of rewards' calculations

  • 1.25 points per dollar on Amex, uncapped

  • 16160 points buys a Myer $100 Gift Card

  • 8000 points buys a Qantas Sydney-Melbourne flight

  • 120000 points buys a Qantas Sydney-London flight

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

Rates

  • 20.74% p.a.

  • none

  • 0% p.a. for 12 months and then 20.74% p.a. (1.00% balance transfer fee)

  • no

  • none

  • 44

Fees

  • $249.00

  • none

  • none

  • none

  • $30.00

  • none

  • 3.00%

  • $10.00

  • $7.00

  • $0.00

Other financial bits

  • $30.00

  • 2.5

Features

  • unlimited

  • The maximum balance transfer that can be approved is $10,000 or 70% of approved credit limit, whichever is less.

  • none

About American Express

American Express is a global mega provider of credit cards, including gold cards, platinum cards, charge cards and more. With American Express, you can find a credit card to suit your lifestyle, tastes and aspirations. If you're a rewards points junkie, be sure to check out the hugely popular American Express rewards programs, including Qantas Frequent Flyer points and Qantas Club rewards.

**Saving based on the average difference in fees and charges over 3 years between the most competitive product Mozo can refer a consumer to and the average credit card product input by 6,863 consumers (average balance of $4,262 or balance transfer balance of $5,818, interest rate of 19.6% and annual fee of $36.50) who used the Mozo Credit Card Health Check tool between 1 January 2012 to July 2012.

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