American Express Qantas Ultimate Card

Mozo snapshot:

With 100,000 bonus Qantas Points when you apply online by 14 April 2020, are approved and spend $3,000 on your new Card within the first 3 months (new Card Members only), an easy-to-earn points system and no cap or expiry date on the number of Qantas Points you can earn, the Qantas American Express Ultimate Card is... ultimately rewarding. Especially given that you can bag 1.25 Qantas Points for every $1 spent on eligible purchases. 

In fact, the Ultimate Card was found to be so rewarding that it was awarded a 2019 Mozo Experts Choice Award for best Qantas Frequent Flyer Premium Credit Card. 

Key features:

The Qantas Ultimate credit card from 2019 Credit Card Provider of the Year American Express has a high annual fee of $450, but the $450 Qantas Travel Credit you snag each year neatly cancels out that cost. 

Using this credit, you can book eligible Qantas flights online through American Express Travel. Standard card features include up to 44 interest free days, 20.74% purchase rate and there's the option of up to 4 additional Card Members for free, so you can get your partner to help build up those rewards points. But remember to pay those bills on time or you'll be hit with a $30 late payment fee.

If you have a debt you want to transfer to the new card there is a 0% balance transfer rate for 12 months, but this also comes with an upfront 1% credit establishment fee for any balances transferred. Plus, you won't have interest free days on new purchases while you're paying off a balance transfer, so keep that in mind if you're planning to spend more.

And let's not forget the 100,000 bonus Qantas Points on offer. All you need to do to score these points is apply online by 14 April 2020, be approved and then use your new card to spend $3,000 in the first three months. Keep in mind, you need to be a new American Express Card Member to grab these points.

But that's not where the points earning power stops. For every $1 spent on standard purchases, you will earn 1.25 Qantas points per $1 spent (except at government bodies in Australia, where you will earn just 0.5 points). And for every dollar spent on Qantas products and services in Australia you will earn 1 additional Qantas Point.

The Qantas American Express Ultimate Card also comes with those coveted AMEX service benefits such as free domestic and international travel insurance, refund protection and purchase protection insurance and global 24/7 customer service.

Who it's good for:

The Qantas American Express Ultimate Card is perfect for anyone that prefers flying within the Qantas network and pays off their full balance regularly, otherwise that 20.74% interest rate will sting. You'll also need to be earning more than $65,000 a year to be eligible.