NAB Qantas Rewards Premium Card

My monthly spend: 
$5,000
 
offer
card features
rewards program
earn rate
sign up bonus
your earnings
NAB Qantas Rewards Premium Card
APPLY BY 25 feb 18
20 reviews
25,000 points when you spend $2,500 in 60 days.
0% p.a. on balance transfers for 6 months. (Conditions Apply)
Earn 1 pt per $1 spent on the Amex card.
Add to comparison
Qantas Frequent Flyer
Qantas Frequent Flyer
1 pt
per $1 spent capped
25,000
points
after spend criteria

Pros & cons

What's good?

What's not so good?

25,000 points when you spend $2,500 in 60 days.
There is a separate balance transfer offer you can choose. 0% p.a. for 6 months, no balance transfer fee. Minimum monthly repayments required.
Earn 1 pt per $1 spent on the Amex card.
Complimentary Qantas Frequent Flyer membership valued at $89.50.
Seven complimentary insurances including overseas travel insurance.
Pay faster using Visa payWave.
There’s a substantial annual fee of $250 p.a.
There is a 3% international transaction fee on overseas spending.
Points will be capped at 5,000 spend per statement.

Review

Our review of the NAB Qantas Rewards Premium Card

When you get to the top, you can expect the best. The NAB Qantas Rewards Premium Card has lots of appropriate benefits for those who can afford them. There are first-purchase bonus points and a zero-interest balance transfer offer to lure you into that first year, and no shortage of continuing premium features, like a high points earning rate and seven types of complimentary insurance, to convince you to stick around.

25,000 points to welcome you aboard

Spend just $2,500 in 60 days after your card account is opened, and you will receive a boost of 25,000 points into your Qantas Frequent Flyer points account. It may not look like the most generous sign-up bonus currently available,but remember that these are valuable QFF points, not a bank’s in-house loyalty points. For 25,000 points you could fly between Sydney and Melbourne three times on Qantas, or nearly four times on Jetstar.

Two cards for plenty of points and wide acceptance

Each NAB Qantas Rewards Premium Credit Card account comes with two cards: a NAB Qantas Platinum American Express Card (earning 1 pt per $1 spent) and a NAB Qantas Platinum Visa Card, earning a less appealing 0.5 pts per $1 spent but accepted just about everywhere. There’s no charge for an extra cardholder.

If you use your card to buy selected Qantas products, including flights, you’ll get a bonus point for every dollar spent on them, bringing the AmEx card earning rate to 2.0 points per dollar, and 1.5 points for the Visa card.

Rather low points cap

Points earning is now capped at 5,000 per month. That is, any monthly purchases in excess of this amount will not earn any QFF points. Big spenders may find this rather restrictive.

Qantas Frequent Flyer joining fee waived

To get you started on the path to earning enough points for a Qantas award flight, NAB will pay your Qantas Frequent Flyer program joining fee (saving you $89.50) if you are not already a member.

Ways to spend your Qantas points

Some of the many ways to redeem your QFF points include:

  • Qantas domestic flights, for example 8,000 points for a one-way economy flight between Melbourne and Sydney
  • Qantas international flights, for example 60,000 points for an economy flight to Europe
  • Jetstar flights, starting at 6,400 points for a Sydney/Melbourne one-way flight
  • Flights on Qantas partner airlines and One World Alliance airlines, such as American Airlines, British Airways, Cathay Pacific and Japan Airlines
  • Purchasing a Qantas Club membership. 140,000 points to join including the first year, 75,000 points for a one-year renewal
  • Booking accommodation. 100,000 options worldwide
  • Hiring a car through Avis or Budget in Australia and New Zealand
  • Using points to purchase merchandise from an online catalogue
  • Swapping points for movie tickets, e.g. 4,400 points for a Hoyts adult pass
  • Exchanging points for shopping vouchers to use at major Australian retailers, starting at 3,970 points for a $25 card

Moderate interest-free balance transfer offer

You can enjoy 6 months completely free of interest and transfer fees on a balance transferred from another non-NAB card. This is a special offer for a limited time, waiving the usual 2% upfront transfer fee.

Just make sure you have enough cash put by to clear any balances remaining at the end of the six-month interest holiday, because the revert interest rate is 21.74% p.a. (the ongoing cash advance rate). This rate, and the purchase interest rate of 19.99% p.a., are fairly standard rates for a platinum level card.

Up to 44 days on purchases

After the expiry of the introductory offers, the interest-free period on purchases drops to a maximum of 44 days, where some competing cards are offering up to 55 days. So your repayment is going to come out of your deposit account 11 days earlier each month, a total of 132 days each year on which you’ll lose about 3% p.a. in interest income. If your average monthly card spending is about $4,000, that’s going to cost you an extra $43 a year when compared with 55-day cards not a fortune, but it still needs to be taken into account. (If you were taking the repayments out of a mortgage offset account, you would be losing even more – around $57 per year.)

Hefty annual fee comes with benefits

No one likes paying a credit card annual fee, especially if it’s a thumping $250 p.a., but you do get what you pay for, and more. Other credit cards may include three of four types of insurance cover; this card comes with seven:

  • International travel insurance. Family multi-trip cover for medical expenses, lost luggage, unavoidable cancellation, rental vehicle excess and more, saving a minimum of $250 for a single person or $450 for a couple or family, in each year that you use it. Activate cover by using your card for at least $500 of pre-paid transport, accommodation or organised tour costs.
  • Interstate flight inconvenience. Delay, cancellation, luggage cover, rental vehicle excess. You need to pay for 100% of your return flight with the card in order to be covered.
  • Extended warranty insurance. Up to 12 months’ additional warranty on items purchased with the card.
  • Domestic hotel burglary cover. $2,500 limit per event, provided you pay for your accommodation with the card. This is a NAB special, not found on other banks’ cards.
  • Price protection insurance.NAB will refund the price difference if you find an identical item (purchased with the card) advertised in print for a lower price within 21 days. $75 minimum claim.
  • Purchase protection insurance. Three months’ cover on items purchased with the card, against loss, theft or accidental damage.
  • Transport accident insurance, when you and your family travel as passengers in planes, buses, trains and ferries, and the trip was paid for with the card.

What’s the message here? NAB wants you to pull out the card every time you travel, or buy anything substantial, not just use it for your everyday living costs. If you like the idea of having every purchase and every journey covered by insurance, you’re going to justify that $250 annual fee several times over.

Platinum concierge service and Visa Front Line Access

Can you make use of a 24/7 personal assistant for travel, accommodation, restaurant and entertainment recommendations and bookings? Then you’ll probably find value in the NAB Platinum Concierge Service, as well as the special entertainment offers and booking privileges from Visa Front Line Access.

NAB Pay for Android

Turn your smartphone into a rapid 'tap and go’ digital wallet when you install NAB Pay for Android. Access even more functionality (temporary blocking of payWave, overseas or online transactions, even all transactions if your card is lost) with the new NAB app.

Ideal profile for this card

New cardholders can take maximum advantage by choosing the NAB Qantas Rewards Premium Card if they are looking for one of the highest QFF points earning rates (outside directly-issued American Express cards), those always-welcome bonus points, and a comprehensive suite of insurance policies worth far more than the initially off-putting annual fee.

User reviews

3.9 out of 5.0 based on 20 reviews90% 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.

QFF points, insurance, and temporary block option

Reviewed and recommended by Jasmine on 06 May 2017

The account has both AmEx and Visa cards attached. AmEx earns higher points and Visa is there for when Amex is not accepted. I have had no issues with points. They go into my Qantas Frequent Flyer Account quickly. The card also has international travel insurance.

I was recently able to put a temporary block on the card (using internet banking) when the card was lost (as I was sure it was at home somewhere) and then remove the block online once I located the card.

Good Qantas earning rates

Reviewed and recommended by Ashley on 28 Apr 2017

This card allows you to earn more where AmEx is accepted, but still earn some points where Visa is accepted. As it includes an AmEx card, you get access to AmEx Connect, which gives you access to lots of money-off offers using the card.

You get an additional cardholder for free, so your partner or child can help you earn points.

The annual fee is a little steep, but if they have an offer on it can be free for the first year.

Just OK if you spend a lot

Reviewed and recommended by Alexandra on 13 Jan 2017

I chose this card because of the excellent bonus frequent flyer points I received when I first signed up. They were enough for a flight back from Europe, and helpfully the card was accepted everywhere I went overseas.

The fees are a bit of a killer. If you aren’t spending big on the card each month the bonus Qantas points aren’t worth it. I recommend this card if you are a spender.

Great for Qantas points

Reviewed and recommended by Nadine on 08 Dec 2016

You get double Qantas points on all purchases, and if you pay the balance on time each month you don’t have to worry about interest rates.

It’s easily linked to my everyday NAB account, and i’ve accumulated more points than ever before, using this card.

The yearly fee is expensive at $250, but i have got that value back, and more, through free flights.

Great rewards just for paying all the bills

Reviewed and recommended by J on 20 Nov 2016

This combined Visa and AmEx credit card will let you get some excellent rewards from the Qantas frequent flyer program. Utilise the cards properly by using the AmEx whenever you can to get more points, and using the Visa card for everything else.

The yearly fee is easily covered by making all of your everyday purchases, and provided you have the self-discipline to always pay off your card in full you will reap the benefits. Use your points for flights or in exchange for products or gift cards. It works well for me.

Efficient and speedy recording of transactions

Reviewed and recommended by Dennis on 02 Nov 2016

This card is outstanding. Transactions are recorded and displayed instantly, so I always know where I am at. It takes as little as five minutes for my early morning coffee to register on my statement. Unlike another bank, who would take days for transactions to appear — even through the week — but funds would already be gone, making keeping track of where you are at impossible.

Rewards plus insurance plus concierge service

Reviewed and recommended by Annie on 31 Oct 2016

The rewards program for the NAB Qantas platinum credit card is amazing, covering international and domestic travel insurance with great coverage, also with concierge service with great helpful staff always there when you need their help, and a buyer’s insurance program to look after me after buying appliances by extending my warranty.

Good rewards and travel insurance

Reviewed and recommended by Jay on 21 Sep 2016

It is a good card with rewards for customers. Since it is a Qantas card there are points for all eligible purchases.

It’s easily accessible. I got this card along with my home loan through NAB. There is no annual fee for the life of the loan. I also get travel insurance if it’s used to pay for airfares.

Good credit card if you spend enough

Reviewed and recommended by Hannah on 20 Sep 2016

I got this card for the bonus sign-up points, which were nearly enough for a one-way flight to the UK.

A higher earning AmEx and lower earning Visa mean you have a card for all shops.

I spend (and pay off) around $4,000 a month, so have really noticed the increase in my frequent flyer points balance.

A great card with high rewards points!

Reviewed and recommended by Sally on 12 Jul 2016

I love this card! A great card with fantastic benefits. I found that the rewards points were higher than with some of the other big banks, so that was great. Customer service is fantastic. I always get my call answered in a couple of minutes, and the helpfulness of staff when an issue arises is great also.

Show 10 more reviews

Basic details

About this card

Card setup
Dual Card
Card tier
Platinum
Card type
Visa & AmEx
Card use
Personal
Credit rating
Any
Gambling transactions allowed
No
Joint application
No
Minimum age
18 years old
Minimum income
N/A
Minimum income for pensioners
Same as standard
Pensioners
Rewards program
Qantas Frequent Flyer
Temporary residents
Yes

Cardholders

Additional cardholders
1
Additional card fee
$0 p.a.

Credit limits

Minimum credit limit
$6,000
Maximum credit limit
N/A

Repayments

Interest charged from
Purchase date
Interest free period
Up to 44 days on purchases
Minimum repayment
N/A

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.6 months2%90% of credit limit21.74% 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
90% of credit limit
Available to existing customers
No

Banks you can't balance transfer from

You can't balance transfer to the NAB Qantas Rewards Premium Card at the promotional balance transfer rate from:

  • NAB

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.6 months2%90% of credit limit 21.74% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

MonthlyAnnually
Cash advances 1.81% 21.74% p.a.
Purchases 1.67% 19.99% p.a.

Fees

Annual fee
$250 p.a.
Cash advance fee
2%
Dishonour fee
$5
Duplicate statement fee
$7
Foreign exchange fee
3%
Late payment fee
$15
Over limit fee
$0
Overseas ATM balance fee
$0
Overseas ATM withdrawal fee
$4
Overseas emergency card replacement fee
$0
Transaction verification fee
$5

Rewards

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
25,000 points
Reward points expiry
Never as long as you keep your account active
Rewards program
Qantas Frequent Flyer
Spend required for bonus points
$2,500 in 60 days

Earning points with this card

ATO payment earns rewards (amex)
0 pts pts per $1 spent
ATO payment earns rewards (visa)
0 pts pts per $1 spent
Frequent flyer points (amex)
1 pt per $1 spent
Frequent flyer points (visa)
0.5 pts per $1 spent
Overseas earn rate (amex)
Same as standard earn rate
Overseas earn rate (visa)
Same as standard earn rate
Points cap per month (amex)
5,000
Points cap per month (visa)
N/A
Points cap per year (amex)
60,000
Points cap per year (visa)
N/A
Reward points (amex)
1 pt per $1 spent
Reward points (visa)
0.5 pts per $1 spent

Additional benefits

Airport lounge access
No
Complimentary flight voucher
No
Concierge service
Yes

Benefits

This card comes with benefits worth an estimated $1,476

SecurityEstimated value
Secure Sentinel lost or stolen card service
Valuation based on Secure Sentinel's membership fee spread over 5 years.
$17
Shopping
Extended warranty
Valuation based on the assumption of making a $250 claim once every 5 years. There is no retail market for all-encompassing extended warranty insurance covering more than one item, so no premium saving.
$50
Guaranteed pricing / price protection insurance
Valuation based on the assumption of making a $100 claim once every 10 years. Extensive conditions apply. There is no retail market for this type of insurance, so no premium saving.
$10
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
Travel
Domestic hotel burglary insurance
Valuation based on making a $500 claim once every 5 years. Limited to a maximum claim of $2,500. There is no retail market for this type of insurance, so no premium saving.
$100
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.
$801
Transit accident insurance
Valuation based on similar global transit accident insurance policies available online.
$150
Waived Qantas Frequent Flyer joining fee
Valuation based on $89.50 Qantas Frequent Flyer joining fee spread over 5 years.
$18
Total estimated value$1,476
Annual fee$250
Net customer value$1,226
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
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Joint applications are not allowed
Temporary residents are eligible
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 and Foster Care Allowance are acceptable.
Youth Allowance is not 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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