Electronic Wallet Service
|0.66 points for $1 spent||Visa||Up to $3,000 monthly||eligible everyday purchases|
|0.33 points for $1 spent||Visa||Up to $6,000 monthly||eligible everyday purchases|
- Free Domestic Travel Insurance A qualifying purchase is required.
- Free International Travel Insurance A qualifying purchase is required.
- Free Supplementary Cards Supplementary cardholder must be over 16 years of age
- Purchase Protection Cover lasts for 62 days per year
- Price Guarantee If you purchase personal goods in Australia and then find the same product advertised later in a printed catalogue at a cheaper price within 21 days of purchase, from a store within 25km of the store where the item was purchased, you can claim back the difference if it is more than $75.
- Extended Warranty
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The NAB Qantas Rewards Premium Card has a moderately high standard interest rate and annual fee, and a moderately low interest-free period. It also has a moderate minimum credit limit.
This card comes with the ability to earn Qantas points for everyday spending, which can be redeemed for flights, upgrades and other rewards from the Qantas store. It also features a range of complimentary travel and purchase insurances.
For people looking to transfer debt from another credit card, the NAB Qantas Rewards Premium Card offers an introductory 0 per cent balance transfer interest rate for the first six months with a 2 per cent balance transfer fee.
Cardholders can make contactless payments using their smartphone by connecting the card with NAB Pay for Android or Apple Pay for iPhone. Security-wise, NAB Defence also monitors transactions to offer protection against fraudulent activity.
- Qantas rewards program
- Complimentary insurance
- Free additional cardholder
- Moderately high interest rate
- Moderately high annual fee
- International spending fees
Who is it good for?
Existing Qantas Frequent Flyer members or those looking to join a frequent flyer program are likely to be attracted to this card’s rewards program. The range of complimentary travel insurances that come with the NAB Qantas Rewards Premium Card would also be beneficial to frequent travellers. However, it isn’t particularly suited to overseas spending due to international fees.
This card could also be good for couples or other people looking to share a credit card, as it allows one additional cardholder at no extra cost.
The interest rate and annual fee are moderately high, so it isn’t especially suitable for those who aren’t able to pay their balance entirely every month or those looking for a budget credit card.
The introductory balance transfer deal may be an incentive for customers who want to pay off existing debt, though there is the balance transfer fee to consider.
What RateCity says
The NAB Qantas Rewards Premium Card offers good rewards-earning potential for people looking to collect frequent flyer miles for spending. However, rewards are limited to the Qantas Frequent Flyer program, and there are other cards available with more flexible rewards programs.
Similarly, the balance transfer deal and allowance for additional cardholders may not be the most generous on the market.
With a moderately high interest rate and annual fee, there is a risk of incurring extra debt quickly if you don’t pay your balance on time. As such, if you are looking for better value for money, you might be better off choosing a card with a lower interest rate and annual fee.
If you’re confident you can pay your monthly balance in full and would like to earn other rewards like cashback or merchandise, it may be worth shopping around to find a credit card with a more versatile rewards program.
To be eligible for the NAB Qantas Rewards Premium Card, you must be at least 18 years of age and meet the bank’s serviceability criteria. To apply, you can fill in a form online at the bank’s website or visit a NAB branch in person if preferred. When applying, you will need to provide proof of identification, personal details and proof of reliable income, such as bank statements and payslips.
National Australia Bank (NAB) was founded in 1982, and today employs 30,000 staff at more than 900 locations in Australia, New Zealand and around the world. With over 9 million customers, it is one of Australia’s big four banks, and provides customers with personal finance products like credit cards, bank accounts, personal loans and home loans. Customers can manage their banking products in-branch, via NAB’s online banking portal or through the NAB mobile app.
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