Qantas Premium Card
Balance TransferReceive 30,000 bonus points when you spend $3000 on eligible purchases within the first 3 months from approval
Virgin Money Virgin Australia Velocity Flyer Card (Balance Transfer Offer)
Balance Transfer0% p.a. for 22 months on balance transfers. Earn 3 additional bonus Velocity Points per $1 on your everyday spend in the first 3 months (capped at 10,000 points per month).
Balance Transfer Rate
for 12 months then 20.74%
Max Free Days
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
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
457 Visa holder
|2 points for $1 spent||AMEX||uncapped||all eligible Qantas products and services in Australia|
|1 point for $1 spent||AMEX||uncapped||all eligible card purchases|
|0.5 points for $1 spent||AMEX||uncapped||government bodies|
- 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
- Balance TransferBonus Points Receive 30,000 bonus points when you spend $3000 on eligible purchases within the first 3 months from approvalOffer applies when you spend $3,000 on your new card within the first 3 months. 0% p.a. on balance transfers for the first 12 months — A one-off credit plan establishment fee of 1% applies to any balances transferred. If you pay your Balance Transfer over time, an interest-free period will not apply to your purchases. T&Cs apply.
Cash Advance not available
Compare and review credit cards with similar features
NAB Qantas Rewards Signature Card
for 12 months then $395
Bonus PointsReceive 120,000 Qantas Points when you spend $3,000 in 60 days and keep your card open for over 12 months. 0% p.a. balance transfer rate for 6 months.
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.
If you’ve recently used your credit card to pay for something over the phone or online, you would have been asked to provide a CVV number. CVV stands for ‘card verification value’, and is also sometimes referred to as a CVC or card verification code.
A CVV code is usually needed when the card is used online or over the phone as an anti-fraud measure. Without the cardholder being physically present to sign or verify the purchase, the CVV provides an extra layer of protection.
If you’re using Mastercard or Visa, the CVV is usually three digits and is located on the back of the card. If you’re using an American Express, the CVV is usually four digits and is on the front of the card.
The credit card market changes all the time, so the credit card with the highest annual percentage rate is also liable to change.
One thing to remember is that credit card interest rates are expressed as a yearly rate, or annual percentage rate (APR). A low APR is generally good but also consider:
- There can be different APRs for each feature of the card (e.g. purchases may have an APR of 14 per cent, while cash advances on same card could have an APR of 17 per cent
- Credit cards with a variable rate can change throughout the year, affecting your APR, so check the full details
- If you pay your balance in full every month, having the lowest APR is not as important as the other fees associated with the card. However, if you carry a balance from month to month, then you want the lowest APR possible
The numbers on your credit card actually follow a universal standard which is used to identify specific functions. Each credit card has a different amount of numbers: Visa and Mastercard have 16, American Express has 15 and Diner’s Club has 14. The first number on a credit card always identifies what type of credit card it is. Visa cards start with a 4, whereas Mastercard starts with a 5 and American Express with a 3. The remainder of the digits represent the account number, including the last number which is used to verify that your credit card is actually valid. Credit cards also have additional verification numbers, which are mainly used when the card isn’t present for phone and online purchases. These are the three-digit numbers on the back of Visa and MasterCard or the four-digit numbers on the front of an American Express card.