Card Review: Qantas Premier Platinum Credit Card

Card Review: Qantas Premier Platinum Credit Card

The Qantas Frequent Flyer program is one of the airline’s most profitable divisions, according to recent reports. So you can expect Qantas to pick the ideal point in the scale at which to pitch its own platinum points-earning card. It’s called the Qantas Premier Platinum Credit Card, and it appears to be fine-tuned to deliver a satisfyingly high level of all the usual perks – bonus QFF points, travel voucher, ongoing points earning rate, complimentary insurance, lounge passes, other travel benefits, and even a balance transfer offer – with an annual fee similarly elevated but not as high as that of some of its competitors.

Receive 100,000 Bonus Qantas Points

Spend conditions apply.
Qantas Premier Platinum Credit Card

Receive 100,000 bonus Qantas Points. Earn 70,000 bonus points when you spend $3,500 in the first 90 days of approval and once the annual fee is paid on the anniversary of the card, allow up to 12 weeks for the remaining 30,000 bonus points to be awarded.

0% p.a. for 18 months on balance transfers.

Reduced annual fee of $149 p.a. in the first year ($299 p.a. thereafter).

Enjoy 6 months interest free on your first purchase of selected Qantas products and services.

Citigroup Pty Limited ABN 88 004 325 080 AFSL No. 238 098 Australian credit licence 238098, is the Credit Provider and Issuer of the Qantas Premier credit cards on behalf of Qantas Airways Limited ABN 16 009 661 901.

This credit card offer is subject to change and may not be directly related to the content of this article.

100,000 bonus QFF points potential

There are 100,000 valuable first-purchase QFF bonus points on offer. Here’s how it works.

Spend at least $3,500 using the card in the first 90 days after approval, to be awarded 70,000 QFF points. At an average of $1,167 per month, that’s actually a quite achievable target via everyday spending.

Then, 12 months later on your card anniversary, just pay the annual fee for the next year and you’ll receive a further 30,000 bonus points.

Yes, Qantas want to make sure you stick around for the second year, and those extra 30,000 points round off the available total to a valuable 100,000 points.

Those 100,000 points are almost enough for a return economy flight to London or New York (120,000 points).

Ongoing points earning rate near the top of the scale

The points earning rate for regular spending is not the highest around, but then neither, as already mentioned, is the annual fee. Nevertheless, the earning rate reaches the sought-after goal of 1.0 points per domestic dollar spent.

You can earn:

  • 1.5 QFF points per dollar on purchases in foreign currency, uncapped
  • 1.0 QFF points per dollar on purchases in AUD, up to $10,000 per month
  • 0.5 QFF points per dollar on purchases in AUD, after the first $10,000 per month
  • 1.0 additional QFF points per dollar uncapped, spent with Qantas (flights, membership fees, gift vouchers, online store and epiQure purchases)

Note that there is no absolute cap on points, and the $10,000 monthly spending threshold, beyond which the points earning rate declines, is far more generous than the threshold imposed by many competing cards. It should rarely be a problem for most cardholders.

Use Qantas points wisely

Although there are all the usual rewards points options available for QFF points redemption (retail gift cards, merchandise, hotel accommodation, movie tickets, car hire, wine), experienced QFF points collectors and users know that the best value is extracted by using them for flights (especially long-haul flights and premium seating) and seat upgrades, with Qantas and its more than 50 partner airlines.

Complimentary insurance to complement the travelling lifestyle

Qantas is naturally happiest when you are travelling – on Qantas flights – as often as possible. To that end, they make travel as easy and worry-free as possible with complimentary travel insurance for cardholders, including:

  • Emergency medical expenses, overseas only
  • Unavoidable travel cancellation cover, overseas and domestic
  • Flight delay cover, overseas and domestic
  • Baggage, money and documents cover, overseas and domestic
  • Car rental insurance excess waiver, overseas and domestic
  • Transport accident compensation, overseas and domestic
  • Specific cover for golf clubs

The cover is activated by either purchasing the return airfares (or spending at least $500 on each ticket) of the cardholder and all accompanying family members, using either the card or Qantas points.

There are no free insurance policies to protect major purchases of merchandise, such as extended warranty cover or purchase protection. Clearly, it’s all about travel.

Even more travel perks

And because this is a card designed to get you travelling, there are several more travel-related inducements. They are:

  • Two single entry airport lounge passes every year to use in a Qantas Club domestic or Qantas-operated International Business Lounges
  • Discounted companion fares on domestic flights for up to eight companions, once per year – 10 percent, 15 percent or 20 percent discount, depending on fare type
  • Six months interest free on first purchase of Qantas products (flights, Qantas Club fees, gift vouchers, online store and epiQure purchases) made within the first six months of owning the card
  • Qantas Premier Concierge service for travel, shopping, dining and entertainment assistance

Balance transfer offer could seal the deal

If you need a zero-interest balance transfer offer to absolutely clinch the transaction, there’s one of those as well. Transfer a balance from your existing card or cards and pay no interest for 18 months, with no upfront balance transfer fee.

The revert interest rate, if you can’t pay off all the balance after 18 months, is not the high 19.99 percent p.a. purchases interest rate, but the even higher 21.99 percent p.a. cash advance rate.

As well, whenever you have an uncleared balance transfer on your account, you’ll be charged interest on each purchase from the date of the transaction, not from the end of the billing cycle. In other words, you’ll temporarily forfeit the up to 55 interest-free days normally allowed each month.

This will make using your card for purchases an unattractive prospect, meaning that you’ll probably forego the bonus points, plus the ongoing points and other perks, for at least 18 months. The pros and cons of balance transfers need to be weighed very carefully.

Annual fee is high but reasonably competitive, and discounted in the first year

With an annual fee of $299, this is an expensive card. There’s also an additional $50 per year to pay for each supplementary card on the account, so the cost for a primary cardholder plus partner would be $349. However, this is less than you would currently pay for several competing cards with the equivalent standard earning rate of 1.0 QFF points per dollar spent. So it's a pretty good deal. 

And to sweeten the deal, there’s a 50 percent annual fee discount in the first year, when you will pay only $149 for the primary card.

Compare QFF cards quickly and easily

You can see the competing cards on the Qantas page in our Features section. Try sorting the offers by earn rate, and then compare the annual fees of cards which earn 1.0 QFF points per dollar on standard purchases.

Rapid points collecting without being too expensive

This is a suitable card for anyone wishing to accumulate Qantas points quickly – and with a significant opening boost – without paying a sky-high annual fee. There’s no doubt that the annual fee is quite large, but regular travellers will recover far more than that value every year via the lounge passes and travel insurance, making the points earning effectively free.

To learn more about this card and apply go here. 

Disclaimer: Reviews rely upon third party information that may not be correct or may be changed without Credit Card Compare’s knowledge. You must carefully consider your own circumstances before making any commitments and confirm all offers and terms with credit card providers before accepting them. Please refer to our T&Cs for more.

Receive 100,000 Bonus Qantas Points

Spend conditions apply.
Qantas Premier Platinum Credit Card

Receive 100,000 bonus Qantas Points. Earn 70,000 bonus points when you spend $3,500 in the first 90 days of approval and once the annual fee is paid on the anniversary of the card, allow up to 12 weeks for the remaining 30,000 bonus points to be awarded.

0% p.a. for 18 months on balance transfers.

Reduced annual fee of $149 p.a. in the first year ($299 p.a. thereafter).

Enjoy 6 months interest free on your first purchase of selected Qantas products and services.

Citigroup Pty Limited ABN 88 004 325 080 AFSL No. 238 098 Australian credit licence 238098, is the Credit Provider and Issuer of the Qantas Premier credit cards on behalf of Qantas Airways Limited ABN 16 009 661 901.

This credit card offer is subject to change and may not be directly related to the content of this article.