Qantas Money

Qantas Premier Platinum

Purchase Rate

Purchase Rate

19.99%

Balance Transfer Rate

Balance Transfer Rate

0%

for 18 months then 21.99%

Annual Fee

Annual Fee

$199

for 12 months then $299

Max Free Days

Max Free Days

55

Late Payment Fee

$30

Purchase Rate

Purchase Rate

19.99%

Balance Transfer Rate

Balance Transfer Rate

0%

for 18 months then 21.99%

Annual Fee

Annual Fee

$199

for 12 months then $299

Max Free Days

Max Free Days

55

Late Payment Fee

$30

Pros and Cons

Pros and Cons

  • Rewards Available through Qantas Frequent Flyer
  • Bonus 100,000 points subject to eligibility conditions
  • Reduced $199 annual fee p.a in the first 12 months and $299 p.a thereafter.
  • Ability to convert large purchases into instalment plans
  • Free domestic travel insurance
  • Free international travel insurance
  • Concierge
  • Airport lounge
  • Fraud protection
  • Does not offer free supplementary cards
  • Late payment fee

Qantas Money Features and Fees

Qantas Money Features and Fees

Details

Card Level

Platinum

Card Type

MasterCard

Interest Free Days

Interest Free Days

55

Minimum monthly repayment

2% or $30

Minimum credit limit

$6k

Maximum credit limit

$100k

Free supplementary cards

Number free supplementary

0

Instant Approval

Fees

Annual Fee

Annual Fee

$199

for 12 months then $299

Annual Fee Spend Waiver

Supplementary card annual fee

$50

Late Payment Fee

$30

Over limit fee

Duplicate statement fee

Electronic Wallet Service

Important Rates

Rates

Purchase Rate

Purchase Rate

19.99%

Cash advance rate

21.99%

Cash advance fee

3% or $3

Balance Transfer

Balance Transfer Rate

Balance Transfer Rate

0%

for 18 months then 21.99%

Transfer Limit

80%

of the approved credit limit

Balance Transfer Fee

1%

Overseas spending

Foreign Exchange Fee

3% on Mastercard

Overseas charges

Overseas charges

$5

Estimated ATM Cost

-

Rewards

Program name

Qantas Frequent Flyer

Rewards Available

Gift Card, Domestic Flights, International Flights, Flight Upgrades, Qantas Shop, Qantas Hotels

Eligibility

Minimum age

18

Minimum income

$35k

Eligibility conditions

Have an Australian residential address and mobile phone. Be a Qantas Frequent Flyer member. Not already be a Qantas Premier primary cardholder.

Residency

Earn Rates

RateCard TypeEarnsCondition
1.5 points for $1 spentMastercarduncappedInternational purchases
1 point for $1 spentMastercarduncappedQantas spend
1 point for $1 spentMastercardUp to $10k monthlyDomestic purchases
0.5 points for $1 spentMastercarduncappedDomestic purchases

Perks

  • FREE DOMESTIC TRAVEL INSURANCE
  • FREE INTERNATIONAL TRAVEL INSURANCE
  • CONCIERGE The Qantas concierge service, dedicated to Qantas Premier cardholders, is just a phone call away, anytime you need assistance. It will take the load off you by helping with discounted Domestic companion-fare bookings, travel destination and shopping information, medical and travel assistance, and much more.
  • AIRPORT LOUNGE You will be entitled to 2 complimentary invitations after you activate your Qantas Premier credit card.
  • FRAUD PROTECTION Feel safe with the built-in protection of Mastercard Zero Liability.
Specials
  • Bonus PointsBalance Transfer Earn 100,000 bonus Qantas Points + 75 Bonus Status Credits
    New cardholders earn 100,000 bonus points when you spend $4,000 or more on eligible purchases within 3 months of approval. Plus enjoy 75 bonus Status Credits when you make an eligible purchase by 31/01/2021. Offer ends 30/11/2020.

Other Benefits

$50 Qantas Wine voucher

Other Restrictions

No interest free days apply to retail purchases while you have a Balance Transfer

Pros and Cons

  • Rewards Available through Qantas Frequent Flyer
  • Bonus 100,000 points subject to eligibility conditions
  • Reduced $199 annual fee p.a in the first 12 months and $299 p.a thereafter.
  • Ability to convert large purchases into instalment plans
  • Free domestic travel insurance
  • Free international travel insurance
  • Concierge
  • Airport lounge
  • Fraud protection
  • Does not offer free supplementary cards
  • Late payment fee

Qantas Money Features and Fees

Details

Card Level

Platinum

Card Type

MasterCard

Interest Free Days

Interest Free Days

55

Minimum monthly repayment

2% or $30

Minimum credit limit

$6k

Maximum credit limit

$100k

Free supplementary cards

Number free supplementary

0

Instant Approval

Fees

Annual Fee

Annual Fee

$199

for 12 months then $299

Annual Fee Spend Waiver

Supplementary card annual fee

$50

Late Payment Fee

$30

Over limit fee

Duplicate statement fee

Electronic Wallet Service

Important Rates

Rates

Purchase Rate

Purchase Rate

19.99%

Cash advance rate

21.99%

Cash advance fee

3% or $3

Balance Transfer

Balance Transfer Rate

Balance Transfer Rate

0%

for 18 months then 21.99%

Transfer Limit

80%

of the approved credit limit

Balance Transfer Fee

1%

Overseas spending

Foreign Exchange Fee

3% on Mastercard

Overseas charges

Overseas charges

$5

Estimated ATM Cost

-

Rewards

Program name

Qantas Frequent Flyer

Rewards Available

Gift Card, Domestic Flights, International Flights, Flight Upgrades, Qantas Shop, Qantas Hotels

Eligibility

Minimum age

18

Minimum income

$35k

Eligibility conditions

Have an Australian residential address and mobile phone. Be a Qantas Frequent Flyer member. Not already be a Qantas Premier primary cardholder.

Residency

Earn Rates

RateCard TypeEarnsCondition
1.5 points for $1 spentMastercarduncappedInternational purchases
1 point for $1 spentMastercarduncappedQantas spend
1 point for $1 spentMastercardUp to $10k monthlyDomestic purchases
0.5 points for $1 spentMastercarduncappedDomestic purchases

Perks

  • FREE DOMESTIC TRAVEL INSURANCE
  • FREE INTERNATIONAL TRAVEL INSURANCE
  • CONCIERGE The Qantas concierge service, dedicated to Qantas Premier cardholders, is just a phone call away, anytime you need assistance. It will take the load off you by helping with discounted Domestic companion-fare bookings, travel destination and shopping information, medical and travel assistance, and much more.
  • AIRPORT LOUNGE You will be entitled to 2 complimentary invitations after you activate your Qantas Premier credit card.
  • FRAUD PROTECTION Feel safe with the built-in protection of Mastercard Zero Liability.
Specials
  • Bonus PointsBalance Transfer Earn 100,000 bonus Qantas Points + 75 Bonus Status Credits
    New cardholders earn 100,000 bonus points when you spend $4,000 or more on eligible purchases within 3 months of approval. Plus enjoy 75 bonus Status Credits when you make an eligible purchase by 31/01/2021. Offer ends 30/11/2020.

Other Benefits

$50 Qantas Wine voucher

Other Restrictions

No interest free days apply to retail purchases while you have a Balance Transfer

FAQs

What is a credit card?

A credit card is a payment method which lets you pay for goods and services without using your own money. It’s essentially a short-term loan which lets you borrow the bank’s money to pay for things which you can pay back – potentially with interest – at a later date. Credit cards can also be used to withdraw money from an ATM, which is known as a cash advance. Because you’re borrowing money from a bank, credit cards charge you interest on the money you use (unless you repay the entire debt during the interest-free period). When you apply for a credit card, the bank gives you a credit limit which sets the maximum amount you can borrow using your card. Credit cards are one of the most popular methods of payments and can be a convenient way of paying for goods and services in store, online and all around the globe.

How do credit cards work?

Think of credit cards as a short-term loan where you use the bank’s money to buy something up front and then pay for it later. Unlike a debit card which uses your own money to pay, a credit card essentially borrows the bank’s money to fund the purchase. When you apply for a credit card, the bank assesses your income and assigns you a credit limit based on what you can afford to pay back. At the end of each billing cycle, which is usually monthly, the bank will send you a statement showing the minimum amount you have to pay back, including any interest payable on the balance.

How to get money from a credit card

You can get money from a credit card, but generally it will cost you.

Withdrawing money from a credit card is called a cash advance, as it operates more as a loan than a simple cash withdrawal. Because it is a loan, you may be charged interest on your cash advance as soon as you make the withdrawal. Interest rates are also usually much higher for cash advances than standard credit card purchases.

In addition to the interest rate, you may also be charged a cash advance fee. This could be a flat rate, or a percentage of your total cash advance. If you are considering a cash advance, make sure to add up how much it will cost you before committing.

Why should I check my credit rating?

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.

What should you do when you lose your credit card?

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.

How long does it take to get a credit card?

There are a few stages you need to go through to get a credit card; each one takes a different length of time.

Applying for the card online, over the phone or in person is the fastest step. This usually takes around 15 minutes, provided you have all of your documents handy.

After submitting your application, it usually takes between one to 10 business days for the lender to assess your eligibility. Some lenders offer instant approval, although you will need to send supporting documents before it is official.

Once your application has been approved, expect to wait between one to 14 days to receive your card in the mail. Keep in mind that delays can happen during busy periods, such as if the lender has launched a special deal.

How do I apply for a credit card online?

How to get cash with just a credit card number

Banks and merchants usually will not allow you to access cash without a physical card, because doing so would open up opportunities for fraudulent activities. Even most non-cash credit card transactions (such as shopping online) require you to know the expiry date and CVV on your credit card in addition to the card number.

However, some banks offer cardless cash for transaction accounts. Using a secure app installed on your mobile phone, you can log onto an ATM and withdraw the money you need. This could be a practical and secure solution if you don’t have a card and need cash.

Where can I get a credit card?

Looking to get your first credit card? You might be confused as to exactly where to go to apply for one. Here’s where to go when you are ready to put in that application.

The bank: Your bank is a great place to start, provided that you have a good banking history. Since you already have a financial history, you have more chance of your application being approved.

Credit card provider: Another option is to apply for a credit card directly from the issuer, such as Visa, Mastercard or Amex. This will most likely be an online application, so do your research and apply for a suitable card for your circumstances.

Major retailers: Coles, Woolworths, Myer and David Jones all have credit cards available. But watch out for the interest rate and annual fees – these cards are designed to help you spend more in store.

Can a pensioner get a credit card?

It is possible to get a credit card as a pensioner. There are some factors to keep in mind, including:

  • Annual income. Look for credit cards with minimum annual income requirements you can meet. 
  • Annual fees. If high fees are a concern for you, opt for a card with a low or $0 annual fee. 
  • Interest rate. Make sure you won’t have any nasty surprises on your credit card bill. Compare cards with a low interest rates to minimise risk.

Should I get a credit card?

Once you've compared credit card interest rates and deals and found the right card for you, the actual process of getting a credit card is quite straightforward. You can apply for a credit card online, over the phone or in person at a bank branch. 

How to pay a credit card

There are a few ways to pay a credit card bill. These include:

  • BPAY - allows you to safely make credit card payments online.
  • Direct debits - set up an automatic payment from your bank account to pay your credit card bill each month. You can choose how much you want to pay of your credit card bill when you set up the auto payments.
  • In a branch.
  • Via your credit card provider's app.

What is CVV on a credit card?

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 the three digits 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.

Do you need a credit card to get a loan?

You do not need a credit card to get a loan, but you usually need to have a credit history. Without a credit history, a financial institution cannot assess your ‘credit worthiness’, or your capacity to pay off the loan.

If you don’t have a credit card, your credit history can reflect any record of paying off an asset. Without any credit credit history, you’re limited in the type of loans you can apply for. But you may be able to obtain a secured loan against an asset. For more information on improving your credit score, go here

How do you pay off credit cards?

The best way to pay off a credit card bill is to set a realistic spending budget and stick to it. Each month, you’ll get a credit card statement detailing how much you owe and how long it will take to pay off the balance by making minimum repayments. If you only make the minimum repayments, it will take you years to pay off your outstanding balance and add extra costs in interest charges. To avoid any extra charges, you should pay the entire bill. 

How do you use credit cards?

A credit card can be an easy way to make purchases online, in person or over the phone. When used properly, a credit card can even help you manage your cash flow. But before applying for a credit card, it’s good to know how they work. A credit card is essentially a personal line of credit which lets you buy things and pay for them later. As a card holder, you’ll be given a credit limit and (potentially) charged interest on the money the bank lends you. At the end of each billing period, the bank will send you a statement which shows your outstanding balance and the minimum amount you need to pay back. If you don’t pay back the full balance amount, the bank will begin charging you interest.

Monthly repayment

This is how much you can afford to pay on a monthly basis off your credit card. You can enter any amount you wish; but to make the balance transfer worthwhile the default is $200.

How is credit card interest charged?

Your credit card will be charged interest when you don’t pay off the balance on your credit card. Your card provider or bank charges you the individual interest rate that is associated with your card, which is usually between 10 and 20 per cent. 

The interest will be added onto your bill each month or billing period if you don’t pay off the balance, unless you are in an interest-free period.

You will be charged interest on anything that hasn’t been paid for inside the interest-free period. Usually you will receive a notice on your bill or statement saying you will be charged interest so you have some form of notice before you’re charged.

Are there credit cards for students?

Yes, there are credit cards available with students in mind. These can help young Australians to build their credit report and learn crucial life skills around budgeting and managing personal finances.

Can I get a credit card with bad credit?

Yes, some lenders will provide credit cards to Australians with bad credit scores. It depends on the provider's individual lending criteria and whether you’ve presented your personal finances to show you’re an ‘ideal’ applicant.