American Express Qantas Premium Credit Card | Reviewed

American Express Qantas Premium Credit Card

What do you want this card for?
Save money
Earn points
My monthly spend: 
$5,000
 
Offer
Card features
Rewards program
Earn rate
Sign up bonus
Points earned
American Express Qantas Premium Credit Card
Earn 30,000 points when you apply online as a new Card Member, are approved and spend $3,000 in 3 months of Card Membership.
Relax with 2 complimentary Qantas Club invitations every year. (Conditions Apply)
Complimentary domestic and international travel insurance.
Add to comparison
Qantas Frequent Flyer
Qantas Frequent Flyer
1 pt
per $1 spent
30,000
points
after spend criteria

Pros & cons

What's good?

What's not so good?

Earn 30,000 points when you apply online as a new Card Member, are approved and spend $3,000 in 3 months of Card Membership.
Enjoy two complimentary Qantas Club Lounge invitations each year after your first card spend on selected Qantas products.
Complimentary domestic and international travel insurance.
Earn 1 Qantas Point for every $1 spent on Card purchases, except spend at government bodies in Australia where you will earn 0.5 Qantas Points per $1 spent.
Earn 1 additional Qantas Point per $1 spent on selected Qantas products and services in Australia.
No cap on how many points you can earn.
0% p.a. for 12 months for balance transfers and a one-off credit plan establishment fee of 1%. T&Cs apply.
The annual fee is $249 p.a.
Interest rates on purchases are at the higher end of the range.
You won’t qualify for the bonus points if you have held any kind of Amex card in the previous 18 months.
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.

Our review

Our review of the American Express Qantas Premium Credit CardReviewed by Yvonne Taylor

Get your Qantas Frequent Flyer points account off to a flying start – or give it a significant boost if you’re already collecting QFF points – with a sign-up bonus of 30,000 points when you choose the American Express Qantas Premium Credit Card. While it may not be the best QFF bonus points offer around, the card does have one of the highest ongoing points earning rates, uncapped. In the end, it’s this ongoing rate which will have the greater impact on the regularity with which you can redeem points for something worthwhile.

It’s a card all about flying, giving its cardholders comprehensive travel insurance (not just for overseas travel but for domestic trips too), airport lounge access, and fee-free supplementary cards to further boost QFF points earning. And if you need to lick your finances into shape before you can afford an overseas trip, there’s even a zero-interest balance transfer option.

30,000 bonus Qantas Frequent Flyer points

Providing you haven’t held any other card directly issued by American Express in the last 18 months, to qualify for a 30,000-point bonus all you need to do is make purchases with your new card amounting to $3,000 in the first three months.

That’s only $1,000 per month, certainly not an onerous target. And even if you’ve recently held a companion Amex card issued by one of the Big Four banks, you will still qualify for this substantial bonus.

Where can you go with 30,000 QFF points?

With this many points, you could almost get two return economy flights between Sydney and Melbourne (16,000 points each) and you could definitely have a one-way economy flight from Sydney to Hong Kong (28,000 points).

You’re not restricted to flying with Qantas. Points can be used with any Qantas partner airline, including Jetstar, Emirates, British Airways, American Airlines, Cathay Pacific, Japan Airlines and more than 20 others.

You can also use your points to upgrade to business class on a flight where you have already booked an economy seat. If you don’t have enough points to fly to your chosen destination you can take advantage of the Points Plus Pay system by paying the balance in cash.

Other ways to use Qantas points

While it’s generally accepted that award flights and upgrades deliver the best-value method of using Qantas points, you’re not limited to using them just for flights. You can also:

  • Book a range of hotel accommodation – 100,000 options worldwide
  • Hire cars from Avis and Budget in Australia and New Zealand
  • Use points to join or renew membership with Qantas Club
  • Buy merchandise, retail gift cards, movie tickets and more, at the online Qantas Store
  • Purchase wines from Qantas epiQure

Robust ongoing points earning rate

There’s no need to worry that once you’ve spent your bonus points you’ll never earn enough points to be able to redeem again. That’s because the continuing earning rate is more than respectable and relatively uncomplicated:

  • 2.0 points per dollar for spending with Qantas (not Jetstar) – flights, upgrades, Qantas Club &c
  • 0.5 points per dollar for spending with government bodies like Australia Post and the ATO
  • 1.0 point per dollar on all other purchases

So, even when you pay your tax bill, you can ease the pain with half a point for every dollar it costs you.

More good news: there’s no cap on the number of points you can earn each month or year.

Complimentary travel insurance

One of the exceptional features of the complimentary travel insurance that comes with Amex credit cards is that it provides comprehensive cover for domestic travel as well as overseas trips, unlike many competing cards which provide limited local travel insurance under the heading ‘interstate flight inconvenience cover’. This is the travel cover built in to the card:

  • International annual multi-trip travel insurance for the primary cardholder, and immediate family members on the same trip.
  • Domestic travel insurance for journeys more than 150 kilometres from your normal place of residence.
  • Transport accident cover, providing compensation for serious accidents sustained on public transport and commercial flights.

The travel insurance policies cover such things as overseas emergency medical expenses, baggage loss and delay, delayed flights and missed connections, and unavoidable trip cancellation. They are activated either by purchasing the full fare with the card or QFF points (for both international and domestic trips) or by booking at least four nights’ consecutive accommodation with the card (for domestic trips only).

Unfortunately, Amex proves to be a further exception to the rule in not covering supplementary cardholders in its personal credit card travel insurance policies (except where the supplementary cardholder is a spouse travelling with the primary cardholder). If you need stand-alone cover for supplementary cardholders and still want to use an Amex card, you’ll need to consider one of the extensive range of American Express business cards.

Complimentary shopper’s insurance

Few American Express cards, this one included, come with extended warranty insurance, so you’ll need to look elsewhere if that kind of cover is important to you. But you will get a type of cover unique to Amex cards: refund protection. Although major Australian retailers will accept return of an unused item without hesitation, some smaller vendors do not have this policy. If return for a refund is refused within 90 days of purchase, you can instead claim a refund of up to $500 from American Express.

Another form of 90-day protection for items bought with the card is the purchase protection policy covering theft, loss or accidental damage (maximum claim $2,500 per event and $20,000 per year). Amex lets you not only travel but also shop, with peace of mind

Qantas Club access

A frequent flyer’s card isn’t truly complete without airport lounge passes. Your first purchase of a Qantas product in each year of holding the card will earn you two single visit passes to a Qantas Club lounge, worth $49 each.

0% p.a. interest balance transfer offer

You can consolidate onto this card your balances from any non-Amex cards you currently hold, and pay no interest for 12 months. This sounds like a good offer, but there are a couple of catches. Firstly, you’ll pay a 1% credit establishment fee upfront on the total amount transferred, so, considering that you will be reducing the balance with minimum monthly repayments, you will fork out slightly more than the equivalent of a 1% p.a. interest charge.

Secondly, if you do choose to transfer a balance, you will be presented with a dilemma. The presence of an unpaid balance means that you will forfeit your interest-free days on purchases (up to 44 days each month). If you postpone using the card for purchases altogether you’ll miss out on your 30,000 bonus points entirely, and forfeit the regular points, complimentary insurance and lounge passes in the first year.

So if you do have a balance transfer, you should at least plan to meet the minimum spending target of $3,000 for bonus points, but pay off the purchase balance immediately to avoid being slugged with 20.74% p.a. in interest charges from the date of purchase.

Digital wallet enabled

This card is eligible for use with Apple Pay, Samsung Pay and Google Pay. Download the app, leave your card at home and pay securely with your mobile device.

Fairly high annual fee, but free supplementary cards

Credit card annual fees are definitely in the ‘You get what you pay for’ category. While $249 per year isn’t cheap, it’s not unreasonable given the regular annual benefits, and it’s more than reasonable in the first year because of the generous bonus points. Add to this the fact that you can have up to four supplementary points-earning cards without paying an extra cent, and it begins to look like, if not a bargain, certainly a more-than-value-for-money proposition.

Where else to look for a deal like this

If the bonus points are really important to you, there are some other good deals available. Check out the competition on the ’Sign-up bonus’ page in our Features section.

And if you’re looking for the best Qantas points-earning card, you can find them all on our Qantas page.

Ideal cardholder profile for this card

If you’re checking out this card you are probably already a member of the Qantas Frequent Flyer program, so the bonus points may bring a long-haul flight within your reach. The solid ongoing points earning rate could turn you into a regular leisure traveller, and when that happens it will be comforting to know that you’re backed by dependable travel insurance and Qantas Club lounge access.

This is a card for someone who wants to increase their rewards without running into the monthly points cap or threshold that mars so many other cards and understands that $249 p.a. is not an excessive price to pay for the privileges attached to it.

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.

Q&As about the American Express Qantas Premium Credit Card

Q: What are the T&C’s?

Provided you are a Qantas Frequent Flyer and have registered your Qantas Frequent Flyer number with your Qantas American Express Premium Card, you are eligible to receive two Qantas Club Lounge Invitations each anniversary year of your Card Membership once you make an Eligible Qantas Purchase on your Qantas American Express Premium Card during that year. Eligible Qantas Purchases are Qantas passenger airfares with a QF flight number purchased directly from Qantas Australia by you (or on your behalf by a travel agent) that appear on your Card statement, Qantas Frequent Flyer, Qantas Business Rewards or Qantas Club membership, joining or annual fees. Excludes purchases from Jetstar, or for any other Qantas branded goods or services offered on behalf of Qantas by third parties such as Qantas Holidays, Qantas Freight, Qantas Cruises, Qantas Box Office, Qantas Wine and Qantas Assurance. Within 1-2 weeks of the Eligible Qantas Purchase, two Qantas Club Lounge Invitations will be assigned to your Qantas Frequent Flyer account. Visit the Complimentary Invitations Portal to access your invitation, link it with an eligible Qantas flight booking or find out more information. Qantas Club Lounge Invitations are valid for a single visit by one guest to a Qantas Club Lounge and must be used prior to their expiry. Invitations are subject to the Qantas Club Terms and Conditions and are not valid for Qantas International First Class Lounges, the Qantas Chairman’s Lounge, Qantas Domestic Business and or oneworld® alliance partner or associated lounges. Qantas Club Invitations cannot be carried forward to any subsequent year and must not be sold, they may only be transferred as allowed by Qantas. Invitations may be revoked or withheld if your Qantas American Express Premium Card account is not in good standing, if the Eligible Qantas Purchase is refunded in full or if you have not complied with these Qantas Club Invitation Conditions, the Credit Card Terms and Conditions or the Qantas Club Lounge Access Terms and Conditions.

User reviews

2.0 out of 5.0 based on 3 reviews33% of reviewers would recommend this card

Rates and fees
Rewards
Customer service
Convenience
Trust

Reviews from users

Used in Middle East with no problems

Reviewed and recommended by Graham on 26 Apr 2017

This is a good card for earning points for Qantas Frequent Flyers.

It was easily used overseas with no problems: used in UAE, Egypt and Jordan. It could probably do with more airport lounge access features.

It would be good to see a lower interest rate on purchases (as with all cards) and a reduction in the fee charged when used.

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.

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.

The basics

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
N/A
Minimum age
18 years old
Minimum income
$40,000
Minimum income for pensioners
N/A
Pensioners
N/A
Rewards program
Qantas Frequent Flyer
Temporary residents
Business Long Stay Visa (subclass 457)

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
whichever is greater, $30 or 2.5%

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.12 months1%$10,000 or 70% 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
$10,000 or 70% 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%$10,000 or 70% 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
$6
Duplicate statement fee
$10
Foreign exchange fee
3%
Late payment fee
$30
Over limit fee
$30
Overseas ATM balance fee
N/A
Overseas ATM withdrawal fee
N/A
Overseas emergency card replacement fee
$0
Transaction verification fee
$7

Rewards & points

Cool stuff you can get with your points

Disclaimer: Points required accurate as of the 31st March 2018.

Rewards program basics

First purchase bonus
30,000 points
Reward points expiry
Never, as long as you keep your account active
Rewards program
Qantas Frequent Flyer
Spend required for bonus points
$3,000 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
Unlimited
Points cap per year
Unlimited
Points earned on ATO payments
0.5 pts per $1 spent
Reward points
1 pt per $1 spent

Additional benefits

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

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
Disclaimer: The minimum criteria 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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