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American Express Qantas Premium Credit Card

My monthly spend: 
$5,000
 
offer
card features
rewards program
earn rate
sign up bonus
your earnings
Take off sooner with a bonus 30,000 QFF points.
Relax with 2 complimentary Qantas Club invitations every year.
Complimentary domestic and international travel insurance.
Add to comparison
Qantas Frequent Flyer
Qantas Frequent Flyer
1 pt
per $1 spent
30,000
QFF points
after spend criteria

Pros & cons

What's good?

What's not so good?

Get bonus 30,000 QFF points (subject to approval and spend criteria).
2 x complimentary Qantas Club Lounge invitations every year.
Complimentary domestic and international travel insurance when you pay for eligible travel on this card.
Strong points earning rate of up to 2 QFF points per $1 spent at major supermarkets and petrol stations in Australia, and selected Qantas products and services in Australia. Good 1:1 earn rate everywhere else (some exceptions apply).
No cap on how many points you can earn.
No cost for 4 supplementary cards so you can earn more points.
0% p.a. on balance transfers for 12 months with a one-off 1% credit plan establishment fee.
The bonus 30,000 QFF points offer is available to new American Express Card Members only.
The annual fee is $249 p.a. each year.
Interest rates on purchases are at the higher end of the range.
Not all businesses accept American Express and some add surcharges to your purchases.
You won’t qualify for the bonus points if you have held any kind of AmEx card in the previous 18 months.

User reviews

1.3 out of 5.0 based on 2 reviews0% of reviewers would recommend this card.

Rates and fees
Rewards
Customer service
Convenience
Trust
Disclaimer: The opinions expressed about credit cards are the reviewer's alone, and do not reflect the views of Credit Card Compare or the credit card issuer. Reviews have not been approved or otherwise endorsed by Credit Card Compare.

Rewards are misleading

Reviewed and not recommended by Brett on 03 Jan 2017

I applied for this card because of the rewards it offered, including two visits to the Qantas lounge. When I tried using the visit to the Qantas lounge I was told I was not eligible because I booked my flights through Flight Centre (pretty big travel agent in Australia). Apparently there are certain travel agents you have to book through to receive this offer. When I asked customer service for a list of these travel agents they were unable to provide me with the list. Feels like a bit of a rort to me.

With the $250 annual fee and the additional charges many places add for using American Express, there are better cards that offer both dual Amex and Visa. This card also doesn’t provide 2 points per dollar on all purchases. Some are only 0.5 points per dollar, on the likes of telecoms and insurance.

Watch out, don't be conned

Reviewed and not recommended by Paul on 23 Jun 2016

They penalise you for being a day late with your repayment. They give no consideration if you have lost your job. Making the standard repayment requires a reduction in the monthly repayment. Consideration should be given to reduce your payment without being penalised for late payments. I still attempt to make my payments even though it is difficult. I have not given up hope.

Basic details

About this card

Card setup
Single
Card tier
Platinum
Card type
American Express
Card use
Personal
Credit rating
No bad credit history
Gambling transactions allowed
N/A
Joint application
No
Minimum age
18 years old
Minimum income
$40,000
Minimum income for pensioners
Same as standard
Pensioners
Rewards program
Qantas Frequent Flyer
Temporary residents
N/A

Cardholders

Additional cardholders
4
Additional card fee
$0 p.a.

Credit limits

Minimum credit limit
$2,000
Maximum credit limit
$50,000

Repayments

Interest charged from
Purchase date
Interest free period
Up to 44 days on purchases
Minimum repayment
2.5%

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.12 months1%50% of credit limit20.74% p.a.

Balance transfers to this card

Balance transfer earns rewards
No
Balance transfer fee payment due
First statement
Balance transfer from personal loan
No
Balance transfer processing time
10 - 14 days
Interest free days with unpaid balance
0 days
Maximum balance transfer
50% of credit limit
Available to existing customers
No

Banks you can't balance transfer from

You can't balance transfer to the American Express Qantas Premium Credit Card at the promotional balance transfer rate from:

  • American Express

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.12 months1%50% of credit limit 20.74% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

MonthlyAnnually
Cash advances N/A N/A
Purchases 1.73% 20.74% p.a.

Fees

Annual fee
$249 p.a.
Cash advance fee
N/A
Dishonour fee
N/A
Duplicate statement fee
$10
Foreign exchange fee
3%
Late payment fee
$30
Over limit fee
$30
Overseas ATM balance fee
$0
Overseas ATM withdrawal fee
$2.50
Overseas emergency card replacement fee
$0
Transaction verification fee
$7

Rewards

Where will your points take you?

Points:
 
Trip:
Origin:
    Rewards program:
      Class:

        Cool stuff you can get with your points

        Disclaimer: Does not include taxes, fees, or charges. Accurate as of 25th January 2016.

        Rewards program basics

        First purchase bonus
        30,000 QFF points
        Reward points expiry
        Never, as long as you keep your account active
        Rewards program
        Qantas Frequent Flyer
        Spend required for bonus points
        $1500 in 3 months

        Earning points with this card

        Frequent flyer points
        1 pt per $1 spent
        Overseas earn rate
        Same as standard earn rate
        Points cap per month
        N/A
        Points cap per year
        N/A
        Reward points
        1 pt per $1 spent

        Additional benefits

        Airport lounge access
        Yes, 2 passes per year
        Complimentary flight voucher
        No
        Concierge service
        Yes

        Benefits

        This card comes with benefits worth an estimated $1,127

        ShoppingEstimated value
        Purchase protection
        Valuation based on the assumption of making a $200 claim once every 5 years. There is no retail market for this type of insurance, so no premium saving.
        $40
        Refund cover if retailer refuses return
        Most major retailers have 100% guaranteed returns, but not all do. Valuation assumes making a $100 claim once every 5 years.
        $20
        Travel
        Interstate flight inconvenience insurance
        Valuation based on similar domestic travel insurance policies available online that include interstate flight inconvenience.
        $290
        Overseas travel insurance
        Valuation based on similar annual travel insurance policies available online for trips of up to 60 days. -Andrew Boyd
        $627
        Transit accident insurance
        Valuation based on similar global transit accident insurance policies available online.
        $150
        Total estimated value$1,127
        Annual fee$249
        Net customer value$878
        Disclaimer: Details of who, what, and where coverage applies to, as well as its duration and any coverage limitations will be listed in the credit card insurance product disclosure statement (PDS) on the card issuer's website. The names/labels of complimentary insurance products may differ from one issuer to another. Terms and conditions apply. Always check the insurance PDS when considering a financial product. Accurate as of 31st October 2015.

        Minimum criteria for this card

        What you need before applying

        Be over 18 years old
        You are a resident or citizen of Australia
        Earn a regular income of more than $40,000 per year
        Have no history of bad credit
        You have your personal details ready to complete the online application
        Have not applied for multiple credit cards recently
        Joint applications are not allowed
        Age Pension, Disability Pension, Overseas Pension, Veteran's Pension and Widower's Pension are acceptable.
        Austudy, Carer's Allowance, Child Support Payments, Family Tax Benefits and Parenting Payments, Foster Care Allowance and Youth Allowance are acceptable.
        Disclaimer: The minimum criteria pointers are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

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