Qantas Premium Card
Bonus PointsReceive 30,000 bonus points when you spend $3000 on eligible purchases within the first 3 months from approval
- Last updated on 13 Aug 2020
Balance Transfer Rate
for 12 months then 20.74%
Max Free Days
- Balance Transfers Available
- Free domestic travel insurance
- Free international travel insurance
- Free supplementary cards
- Purchase protection insurance
- Special events
- Airport lounge
Number free supplementary
Interest Free Days
Interest Free Days
Maximum credit limit
Late Payment Fee
Minimum credit limit
Over limit fee
Minimum repayment dollars
Duplicate statement fee
Minimum repayment percent
Supplementary card annual fee
Cash advance rate
Cash advance fee
Balance Transfer Rate
Balance Transfer Rate
for 12 months then 20.74%
of the approved credit limit
Balance Transfer Fee
Foreign Exchange Fee
3% on Amex
Estimated ATM Cost
Qantas Frequent Flyer
Gift Card, Domestic Flights, International Flights, Flight Upgrades, Qantas Shop, Qantas Hotels
No history of bad debt or payment default
- FREE DOMESTIC TRAVEL INSURANCE Available when you use your card to pay for return domestic travel
- FREE INTERNATIONAL TRAVEL INSURANCE Available when you use your card to pay for return international travel
- FREE SUPPLEMENTARY CARDS Supplementary cardholder must be over 18 years of age
- PURCHASE PROTECTION INSURANCE Covers up to $20,000 per year
- SPECIAL EVENTS Complimentary Qantas Wine Premium Membership
- AIRPORT LOUNGE Up to two entries per year into the American Express Lounge at Sydney or Melbourne International Airport
- Bonus Points Receive 30,000 bonus points when you spend $3000 on eligible purchases within the first 3 months from approval
Cash Advance not available
Compare and review credit cards with similar features
American Express Qantas American Express Ultimate Card
Bonus PointsReceive 55,000 bonus Qantas Points when you apply online, are approved and spend $3,000 on your new Card within the first 3 months. Offer available to new American Express Card Members only
Westpac Altitude Black (Altitude Qantas)
Bonus PointsEarn up to 120,000 bonus Qantas Points. Receive 90,000 bonus Qantas points when you spend $4,000 on eligible purchases within 90 days of approval and an additional 30,000 bonus Qantas points after making the first eligible purchase in the second year. Exclusions apply.
American Express, commonly known as AMEX, is a multinational financial services corporation headquartered in New York.
AMEX is the world’s largest credit card issuer by purchase volume. Alongside AMEX credit cards, the company provides personal financial products such as travellers’ cheques, as well as business and corporate financial services.
American Express has a corporate office in Sydney and various currency exchanges around Australia, but no dedicated customer service branches. ATM access is available through AMEX’s network of partner ATMs.
The American Express Qantas Premium Card comes with a high interest rate, a moderately high annual fee and a moderately low minimum credit limit. It also comes with a moderately low number of interest-free days.
American Express Qantas Premium cardholders can earn points for eligible purchases as part of the Qantas Frequent Flyer program. Points can be redeemed for flights, upgrades and other rewards at Qantas and their partner airlines. The card also allows customers to earn one additional point per dollar spent on selected Qantas purchases.
Customers wishing to transfer existing debt from another card can take advantage of this card’s introductory 0 per cent balance transfer deal. Four supplementary cards are also allowed at no additional cost.
In terms of insurance coverage, cardholders are covered by a variety of complimentary policies, including travel insurance and purchase protection insurance (conditions apply).
- Qantas Frequent Flyer program
- Complimentary insurances
- Balance transfer offer
- High interest rate
- Moderately high annual fee
- Overseas spending fees
Who is it good for?
The American Express Qantas Premium Card is a good fit for regular travellers who are comfortable spending frequently on their credit card and paying it off each month. Customers who fit this profile have the potential to earn valuable rewards and save money on flights and other travel expenses, as well as insurance.
However, making overseas purchases on this card will incur a foreign exchange fee, so it isn’t the best option for using while travelling.
Those wanting to pay off existing debt from another card could also benefit from this card’s balance transfer offer. It’s worth noting, though, that the offer is for a limited time only and the standard interest rate for purchases is high – which can add to debt quickly.
Likewise, people who are unable to pay their balance each month wouldn’t be ideal for this card due to its high interest rate and moderately high annual fee.
What RateCity says
This card comes with a number of attractive benefits assuming that customers can pay their bill on time each month. If this is the case, the American Express Qantas Premium Card offers the ability to earn frequent flyer rewards and save money. The allowance for four additional cardholders also means points can be earned faster through multiple people spending on the one account.
However, with a high interest rate and moderately high annual fee, it’s worth weighing up whether this card’s benefits are worth the added cost and the risk of accruing unnecessary debt.
Those who choose to transfer debt would also need to consider whether this card’s other advantages are appealing enough to keep them around after the introductory offer is finished.
Additionally, American Express is not accepted at as many merchants as Mastercard and Visa, which could be a downside for some.
To be eligible for the American Express Qantas Premium Card, you must be at least 18 years old and have no history or bad debt or payment defaults. You must also be an Australian citizen, permanent resident or 457 visa-holder, and earn at least $40,000 a year. Applications take around 10 minutes to complete and can be filled out at the American Express website. Depending on your application, you may receive a response is as little as 60 seconds.
About American Express
American Express, or AMEX, is a multinational financial services corporation with its headquarters in New York. It is the world’s largest card issuer by purchase volume. AMEX provides various personal financial products such as credit cards and traveller’s cheques, as well as business and corporate financial services. Customer service is available via the company’s phone hotline or 24/7 live chat through the AMEX website. Customers can also manage their card accounts online through the AMEX website and app.
Property Personal Finance Writer
A property and personal finance writer, Nick Bendel covers property, loans, credit cards, superannuation, and other bank products. Nick has previously written for The Adviser, Mortgage Business, Lifehacker, Business Insider, Yahoo Finance, and InvestorDaily, and loves getting elbow-deep in the latest ABS, APRA and RBA data.
If you have a bad credit score, you might encounter two main problems. First, the lower your credit score, the more likely you are to be rejected when you apply for a loan or any other credit product. Second, if your application is accepted, the less likely you are to qualify for the lowest interest rates.
The reason Equifax, Experian and Illion use different scores is because they are independent companies with their own different methodologies. As a result, a score of, say, 700 would mean different things at different credit reporting bureaus.
However, the one thing they have in common is that they divide their scores into five tiers. So if you receive a tier-two credit score from one bureau, you will probably receive a tier-two score from the others, as well.
Yes, as credit card providers look at your annual income amount as well as your occupation. Minimum income requirements tend to be between $30,000 – $40,000 for standard and rewards credit cards, however low income credit cards can have minimum income requirements as low as $15,000 per year.
There are two reasons you should check your credit rating: so you have a better understanding of your financial position, and so you can take action (if necessary) to improve your credit rating.
Lenders use credit ratings or credit scores to assess loan applications. The higher your score, the more likely you are to get approved, and the more likely you are to be charged lower interest rates and lower fees. Conversely, the lower your credit score, the less likely you are to get approved, and the more likely you are to be charged higher interest rates and higher fees.
Credit cards are a quick and convenient way to pay for items in store, online or over the phone. You can use a credit card as a cashless way to pay for goods or services, both locally and overseas. You can also use a credit card to make a cash advance, which gives you the flexibility to withdraw cash from your credit card account. Because a credit card uses the bank’s funds instead of your own, you will be charged interest on the money you spend – unless you pay off the entire debt within the interest-free period. If you pay the minimum monthly repayment, you will be charged interest. There are many different credit card options on the market, all offering different interest rates and reward options.
A balance transfer credit card lets you transfer your debt balance from one credit card to another. A balance transfer credit card generally has a 0 per cent interest rate for a set period of time. When you roll your debt balance over to a new credit card, you’ll be able to take advantage of the interest-free period to pay your credit card debt off faster without accruing additional interest charges. If your application is approved, the provider will pay out your old credit card and transfer your debt balance over to the new card.
For most Australians, there are no great barriers to applying for and getting approved for a credit card. Here are some points that a lender will consider when assessing your credit card application.
Credit score: A bad credit score is not the be all and end all of your application, but it may stop you being approved for a higher credit limit. If your credit score is less than perfect, apply for the credit limit that you need, rather than the one you want.
Annual income: Most credit cards have minimum annual income requirements. Make sure you’re applying for a card where you meet the minimum.
Age & residency: You need to be at least 18 years old to apply for a credit card in Australia, and most require that you are an Australian citizen or permanent resident. However, there are some credit cards available to temporary residents.
There is no one-size-fits-all best rewards credit card. It's best you research what type of rewards program you'd like, as well as the fees, interest rate and conditions associated with those types of cards before making a choice.
Rewards credit cards can also come with high annual fees that may end up nullifying the rewards, so think how often you use the card to decide whether the benefits outweigh the extra cost for you. A card with a lower annual fee might require a lot of spending to get any useful rewards, while another card with a higher annual fee might need fewer purchases to get a reward.
Losing your credit card is a serious situation, and could land you in financial trouble. Here is a simple guide detailing what to do when you lose your credit card.
Lock you card – Contact your provider and inform them about your lost credit card. From here lock, block or cancel your card.
Keep track of transactions – Look out for unauthorised credit card transactions. Most banks protect against fraudulent transactions.
Address recurring charges – If your card is linked to recurring charges (gym membership, rent, utilities), contact those businesses.
Check credit rate – To ensure you’re not the victim of identity theft, check your credit rating a month or two after you lose your credit card.
If you’re wondering about how to make a credit card online application, here are some steps to follow:
- Test the market. Many credit card options are available online. Compare providers by fees, interest and perks to ensure you’re getting the best deal.
- Complete the application. Once you’ve selected a card, head to the provider’s website and complete the online credit card application form. Forms vary by providers.
- Provide details. Most cards require you to meet age, residency, income and credit status condition, and you need to provide details like a bank account statement to prove this.
- Review details. Ensure the information you’ve entered is correct.