NAB Qantas Rewards Premium Card

0% for 15 months then 19.99%

0% for 15 months (2.00% balance transfer fee)

$250

NAB Qantas Rewards Premium Card Review

Rates and fees information correct as at 28 May 2016.

Review published: 22 August 2014

What's hot:

  • Mozo's Experts Choice Awards Winner 2015

  • 0% p.a on purchases and balance transfers for 15 months

  • 20,000 bonus point offer (conditions apply)

What's not:

  • $250 annual fee

  • 2% balance transfer fee

Mozo snapshot:

If you're after a rewards card where you can earn direct Qantas Points, the NAB Qantas Rewards Premium Card just picked up a Mozo Experts Choice Award for Best Value Premium Reward Credit Card. Not only will you earn a generous 1.5 points per $1 spent on AMEX (0.5 points on Visa), but when you sign up your points stash will be supercharged with a 20,000 bonus point offer when you make a purchase in the first 90 days.  

Key features:

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. And you'll also receive a juicy 20,000 points after you make a purchase in the first 90 days after card activation. There is a points cap of $50,000 spend per statement period 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 0% introductory purchases rate and balance transfer offer for 15 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.

Any catches?

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.

How are NAB credit cards rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
7.2

Based on 1409
NAB credit cards reviews

6.3 6.4 7.2 7.6 7.4

Read NAB credit card reviews by the Mozo community

Latest reviews of NAB Qantas Rewards Premium Card

NAB

NAB Qantas Rewards Premium Card credit card review

Overall rating   10 / 10

I find the site easy to use & haven't had problems

I have been with them for a very long time without any problems that I can remember, just lately a young lady at my local branch setup credit cards & she seemed to go the extra mile for me explaining fees, benefits, features & how to use the card...
Full review

I have been with them for a very long time without any problems that I can remember, just lately a young lady at my local branch setup credit cards & she seemed to go the extra mile for me explaining fees, benefits, features & how to use the card to maximise my advantages. She also answered all my questions about this product.

    Price   10 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Terry (QLD), reviewed 3 months ago

NAB

NAB Qantas Rewards Premium Card credit card review

Overall rating   9 / 10

Great service, good deal for shareholders

NAB don't advertise this much but if you own 500 shares (about $15,000 worth), they give you fee-free credit cards, discount off your home loan rate, fee-free bank accounts. So it goes from run-of-the-mill to very competitive.
Full review

NAB don't advertise this much but if you own 500 shares (about $15,000 worth), they give you fee-free credit cards, discount off your home loan rate, fee-free bank accounts. So it goes from run-of-the-mill to very competitive.

    Price   8 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Bernie (NSW), reviewed 5 months ago

NAB

NAB Qantas Rewards Premium Card credit card review

Overall rating   7 / 10

Good rewards, service but somewhat untrustworthy

I like this credit card from NAB due to its reward options that it offers, which helps me in everyday shopping. The bad thing might be the trust, they might offer you a cheap interest rate and they might sneakily add 0.4 or some thing like that...
Full review

I like this credit card from NAB due to its reward options that it offers, which helps me in everyday shopping. The bad thing might be the trust, they might offer you a cheap interest rate and they might sneakily add 0.4 or some thing like that which is a bit deceiving, other than that they are alright.

    Price   6 / 10

    Features   6 / 10

    Customer service   6 / 10

    Convenience   8 / 10

    Trust   4 / 10

Less

Solomon (QLD), reviewed 8 months ago

NAB

NAB Qantas Rewards Premium Card credit card review

Overall rating   10 / 10

Not wanting to change banks

Happy with rewards and services.
Full review

Happy with rewards and services.

    Price   8 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Sharon (NSW), reviewed 8 months ago

NAB

NAB Qantas Rewards Premium Card credit card review

Overall rating   5 / 10

Friendly service

They show personal interest in their customers.
Full review

They show personal interest in their customers.

    Price   5 / 10

    Features   5 / 10

    Customer service   4 / 10

    Convenience   5 / 10

    Trust   5 / 10

Less

Stewart (VIC), reviewed 8 months ago

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 Blue Blue Saver including baggage and Jetstar Jetsaver 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, Singapore, Virgin Atlantic and Malaysian, 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.
  • Bonus points on selected Qantas products and services, including eligible Qantas flights.

Privileges

  • Concierge
  • Travel Insurance
  • Extended Warranty
  • Purchase Protection
  • Guaranteed Pricing
  • Domestic Hotel Burglary Insurance

Special offers

  • Apply by 31 July 2016 and receive 20,000 bonus Qantas Points when you make an everyday purchase in the first 90 days.

Value of rewards points

  • Need to spend $34,500 (Visa) or $11,500 (Amex)

  • Need to spend $16,000 (Visa) or $5,333 (Amex)

  • Need to spend $240,000 (Visa) or $80,000 (Amex)

  • at $50,000 monthly

  • Never

Details behind our 'value of rewards' calculations

  • 1.5 points per dollar on Amex, 0.5 points per dollar on Visa, up to $50,000 per month

  • 17250 points buys a Myer $100 Gift Card

  • 8000 points buys a Qantas Syd-Mel flight

  • 120000 points buys a Qantas London flight

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

Rates

  • 19.99%

  • 0% for 15 months

  • 0% for 15 months (2.00% balance transfer fee)

  • no

  • 21.74%

  • 44

Fees

  • $250.00

  • none

  • none

  • none

  • $9.00

  • 2%, Min $2.50

  • 3.00%

  • $7.00

  • $5.00

  • $0.00

Other financial bits

  • $25.00

  • 2.0

Features

  • 1

  • none

  • none

About NAB

National Australia Bank is one of the big four banks who provide a large variety of financial products to the Australian Community. In recent times NAB has set itself apart from the other big four banks; by expanding their ATM network, removing many fees and maintaining low standard variable home loan rates. NAB's changes to its financial products have made their home loan, credit card, loans, savings accounts and personal loans more competitive within the banking industry.

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