This week in banking - Qantas upgrades its Frequent Flyer program

In this week’s banking recap, we take a look at the latest news in fintech, energy, and rewards cards, plus revisit the latest debacle in Aussie property development.

Do we need a Royal Commission into residential building?

The recent Mascot Towers fiasco has shone a spotlight on Australia’s shoddy development problem. With apartments going up quick, builders cutting corners, and defects appearing left and right, there’s mounting concern among owners that their properties will plummet in value. Mozo’s property expert, Steve Jovcevski, weighs in on the state of development in Australia and whether or not a Royal Commission is in order.

New ACCC rules to increase transparency, save consumers money

On Tuesday, the ACCC released its Electricity Retail Code, a set of rules that will apply to energy providers in South Australia, New South Wales and South East Queensland. Under these new rules, headline discounting will be banned and caps will be introduced on ‘standing offers,’ which will be set annually by the Australian Energy Regulator (AER).

“These new rules, based on recommendations by the ACCC, increase transparency in advertising of electricity offers, and put consumers in a stronger position by enabling them to trust retailers’ advertised discounts and find a better deal,” said ACCC Commissioner, Cristina Cifuentes.

Revolut launches in Australia

Following a string of successes in Europe, Revolut has finally arrived on Australian shores. Valued at $US1.7 billion ($AUD2.4 billion), the plucky young neobank is currently awaiting its local banking license, but will offer customers a transaction account and debit card in the meantime.

“Revolut already has an established European market and when you combine this with the all the flak major banks have copped since the Royal Banking Commission and with some not passing on the RBA rate cut, big banks should be sweating over innovative fintechs like this,” said Mozo’s banking expert, Peter Marshall.

Qantas announces overhaul of rewards program

On Thursday, Qantas announced it will be revamping its rewards program, giving members access to more rewards, reducing points requirements for certain flights, and introducing a new Points Club program, which will treat members to an even greater array of offers.

“Australians love earning Qantas Points and that momentum has seen us expand our number of retail partners and extend into new areas like financial services and insurance. The result is that people have lots of opportunities to earn points, so this overhaul is about making sure they have more opportunities to use them,” said Qantas CEO, Alan Joyce.

If you’re thinking about signing up for a Qantas rewards card, we’ve compiled some options below.

Rewards credit card comparisons on Mozo - rates updated daily

Search promoted rewards credit cards below or do a full Mozo database search. Advertiser disclosure.
  • American Express Qantas Ultimate Card

    Earn up to 90,000 bonus Qantas Points* That’s 70,000 bonus Qantas Points when you apply online by 3rd September 2024, are approved, and spend $3,000 on eligible purchases on your new Card within the first 3 months. Plus, an additional 20,000 bonus Qantas Points in your second year upon fee renewal. Annual Card fee is $450. T&Cs apply. New Amex Card Members only.

    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Qantas Frequent Flyer
    $450
    90,000
    1.25 points up to 100,000 points/year, then
    1 point uncapped
    Details
  • G&C Mutual Bank Platinum Visa Credit Card

    Receive 50,000 bonus Qantas Points when you apply, are approved, and spend $5,000 on eligible purchases on your new G&C Mutual Bank Platinum Visa Credit Card within 90 days. T&Cs apply. Available to new G&C Mutual Bank Card Members only. Earn 10,000 bonus Qantas Points annually. T&Cs apply. Access Platinum Visa Concierge. Add an additional cardholder at no extra cost.

    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Qantas Frequent Flyer
    $299
    30,000
    1 point up to 20,000 points/month
  • American Express Qantas Premium Card

    Receive 20,000 bonus Qantas Points when you apply, are approved, and spend $3,000 on eligible purchases on your new Qantas American Express Premium Card within 3 months of Card Membership. T&C’s apply. Available to new American Express Card Members only.

    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Qantas Frequent Flyer
    $249
    20,000
    1 point uncapped
  • NAB Qantas Rewards Premium Card

    70,000 Bonus Qantas Points. Offer applies to a new NAB Qantas Rewards Premium Card when you spend $2,000 on everyday purchases within 60 days.

    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Qantas Frequent Flyer
    $250 $150 in the first year
    70,000
    0.66 points up to $3,000/month, then
    0.33 points up to $6,000/month
  • St.George Amplify Qantas Signature

    Earn 90,000 bonus Qantas Points - when you spend $6,000 on eligible purchases within 90 days of card approval (T&Cs apply)

    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Qantas Frequent Flyer
    $370
    90,000
    0.75 points up to $250,000/year

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.