The NAB Qantas Rewards Premium Card is two cards on the one account. An American Express card for maximum points earning and a Visa card which you can use for tap n' go purchases under $100 or around the world wherever Visa is accepted. The Amex card has a higher earning rate at 1.5 points per dollar spent, the Visa earning rate is 0.5 points per dollar. There is a 100,000 point cap per month on the account but this shouldn't be a problem for most people.
Points are directly redeemed via Qantas Frequent Flyer for a range of rewards including flights, accommodation, and even shopping at the newly launched Qantas online shopping mall. If you are not already a member of the Qantas Frequent Flyer program you'll get complimentary membership, a saving of $89.50.
The Qantas Rewards Premium Card has a standard 19.99% purchase interest rate but you can get up to 44 interest free days. There is a 4.99% balance transfer offer for 6 months if you want to transfer some debt across from another card to save on interest. If you use your card internationally, either in person or online, there is a 3% foreign exchange margin on all transactions.
There is a steep $250 annual card fee so you'll want to make sure you are getting value from all of the added extras. Good news is there are plenty of them including seven complimentary insurances such as overseas travel, price protection, purchase protection and extended warranty. You'll also have access to NAB's Platinum concierge service 24/7 as well as both Visa Entertainment and Amex Connect programs giving you special access and discounts to a range of events and activities.
Who it's good for:
Rewards seekers that want to earn direct points with Qantas.
Just be sure you are using up all of the card's features so that you can get value from that $250 annual card fee.