NAB Qantas Rewards Premium Card | Review & Apply

NAB Qantas Rewards Premium 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
NAB Qantas Rewards Premium Card
30,000 points when you spend $2,500 in 60 days.
0% p.a. for 6 months on balance transfers. (2% balance transfer fee applies). Reverts to cash advance rate.
Seven complimentary insurances including overseas travel insurance.
Add to comparison
Qantas Frequent Flyer
Qantas Frequent Flyer
1 pt
per $1.50 spent
up to $3,000
then 1 pt
$3,001 to $6,000
More info
30,000
points
after spend criteria

Pros & cons

What's good?

What's not so good?

30,000 points when you spend $2,500 in 60 days.
0% p.a. for 6 months on balance transfers. (2% balance transfer fee applies). Reverts to cash advance rate.
Earn 1 Qantas Point per $1.50 spent on everyday purchases up to $3,000 per statement period.
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.
Points will be capped at 72,000 spend per year.

*NAB may vary or end this offer at any time.

Disclaimer (2): 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 NAB Qantas Rewards Premium CardReviewed by Yvonne Taylor

When you get to the top, you can expect the best. Although it’s no longer NAB’s highest-tier Qantas card, 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 very reasonable points earning rate and seven types of complimentary insurance, to convince you to stick around.

30,000 bonus Qantas points to welcome you aboard

Spend just $2,500 in the first 60 days after your card account is opened, and you will receive a boost of 30,000 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 30,000 QFF points you could fly between Sydney and Melbourne almost four times on Qantas (32,000 points), or nearly five times on Jetstar (also 32,000 points).

Reasonable points earning rate, but low threshold

Now that NAB – like ANZ – has dropped its companion Amex cards, this is a stand-alone Visa card. Visa cards are accepted just about everywhere, but usually have lower points earning rates than an Amex card.

NAB explains the standard earning rate as 1.0 QFF points per $1.50 spent: in other words, approximately 0.67 points per dollar. This rate only applies to the first $3,000 spent per month. After that, the rate is halved to 1.0 QFF points per $3 (0.33 points per dollar), and points are capped (i.e. the earning rate reduces to zero) at $6,000 per month.

Whilst the cap is relatively liberal, quite a few cardholders are likely to find themselves earning points in the lower category beyond the $3,000 threshold, possibly during several months of the year. If the low threshold is likely to be a problem, look for a card with a higher threshold, or no cap, but be prepared to pay a higher fee.

Bonus points for Qantas spending

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 standard earning rate, before the threshold, to 1.67 points per dollar. Bonus points do not apply to Jetstar purchases.

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 or New York
  • 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 8,650 points for a $50 card

0 percent p.a. balance transfer offer

You could pay no interest at all for six months on a balance transferred from another non-NAB card. It’s far from the longest offer currently available, and there’s also a 2 percent upfront transfer fee to pay. But it could be worth taking up if you have a large balance on your current card, and find this card’s other features appealing. Don’t forget, though, that you’ll forfeit the normal interest-free days on purchases until you have repaid your balance in full. This means that you’ll pay interest from the transaction date on any purchases that you make in order to qualify for the first-purchase bonus points.

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

44 days interest free every month

The interest-free period on purchases is 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 percent 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, 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 percent 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 Premium 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, discounts and booking privileges from Visa Premium 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.

Competing cards

All major Australian card issuers offer at least one Qantas points earning card. Check out the cards issued by American Express, ANZ, Westpac, Citi and HSBC on the Qantas page in our Features section.

Ideal profile for this card

New cardholders are likely to be regular air travellers who favour Qantas, and can therefore make good use of both bonus and standard QFF points and the comprehensive suite of insurance policies worth far more than the initially off-putting annual fee.

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.

User reviews

3.8 out of 5.0 based on 16 reviews88% of reviewers would recommend this card

Rates and fees
Rewards
Customer service
Convenience
Trust

Reviews from users

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.

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.

Standard credit card

Reviewed and recommended by Yi on 05 Jul 2016

I got the card with the mortgage, so no fee applied to it. It’s a standard credit card with the Qantas Frequent Flyer points. I have not contacted customer service, which shows it’s quite reliable and can be used on most occasions.

Expensive annual fee

Reviewed and recommended by Sue on 05 Jul 2016

A great card with excellent rewards, especially if you work out the best way to earn points. We have used the rewards for flights, vouchers, and shopping discounts.

However, the annual fee is hefty and if you’re not travelling to take advantage of the insurance or working the rewards to your advantage, then it may not be worthwhile

All my purchases go on it

Reviewed and recommended by Brooke on 04 Jul 2016

The annual fee is $250 per annum. In essence, all my purchases go on it and I get points. The earn rate for points is reasonable. The American Express makes it more costly in most cases due to a surcharge. It is a good card to have for booking travel, as the insurances are worthwhile.

Decent mainstream option

Reviewed and not recommended by Guy on 26 Jun 2016

I’ve got most of the equivalent cards from the other main banks and settled with this one, due to a slightly lower annual fee. They all seem pretty much them same to me, however. Complimentary travel insurance (which all similar cards offer) has been useful.

I am planning to change to a bank with more environmental conscience soon, and will discontinue this card.

Show 6 more reviews
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
Visa
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 Business
  • 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
whichever is greater, $2.50 or 2%
Dishonour fee
$5
Duplicate statement fee
$7
Foreign exchange fee
3%
Late payment fee
$15
Over limit fee
$0
Overseas ATM balance fee
$1
Overseas ATM withdrawal fee
$5
Overseas emergency card replacement fee
$0
Transaction verification fee
$5

Rewards & points

Cool stuff you can get with your points

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

Earn rates

Spend typeSpend
Airline spend
Up to $3,000
1 pt per $1.50 spent
$3,001 to $6,000
1 pt per $3 spent
ResetN/A
Points cap6000

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
$2,500 in 60 days

Earning points with this card

Frequent flyer points
1 pt per $1.50 spent up to $3,000 then 1 pt per $3 spent $3,001 to $6,000
Overseas earn rate
Same as standard earn rate
Points cap per month
6000
Points cap per year
72,000
Points earned on ATO payments
N/A
Reward points
0.5 pts per $1 spent

Additional benefits

Airport lounge access
No
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
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
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.
Joint applications are not allowed
Youth Allowance is not acceptable.
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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