Qantas Premier Platinum Credit Card | Review & Comparison

Qantas Premier Platinum Credit Card

What do you want this card for?
Save money
Earn points
Offer
Card features
purchase rate
annual fee
balance transfer
Apply
Qantas Premier Platinum Credit Card
Apply by 31 oct 19
Qantas Premier Platinum Credit Card
Receive up to 120,000 bonus Qantas Points when you spend at least $1,500 each month for the first 6 months.
Reduced annual fee of $199 p.a. in the first year ($299 p.a. thereafter).
0% p.a. for 18 months on balance transfers.
Add to comparison
19.99% p.a.
ongoing
$199
1st year
then $299
18 months
0% p.a.
then 21.99%
with a 0% fee

Pros & cons

What's good?

What's not so good?

Receive up to 120,000 bonus Qantas Points (20,000 points per month for the first 6 months) when you spend at least $1,500 each month.
Reduced annual fee of $199 p.a. in the first year ($299 p.a. thereafter).
0% p.a. for 18 months on balance transfers.
Get a $50 Qantas Wine Voucher.
Enjoy 6 months interest free on your first purchase of selected Qantas products and services.
2 complimentary Qantas Club lounge invitations per year.
Save up to 20% on selected Qantas and QantasLink flights within Australia. (Conditions Apply)
Complimentary travel insurance, including medical, cancellations and baggage.
Fraud protection guarantee.
After the balance transfer period is over, the interest rate reverts to the cash advance rate.

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.

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 Qantas Premier Platinum Credit CardReviewed by Yvonne Taylor

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 reduced in the first year.

120,000 bonus QFF points potential

There are 120,000 valuable first-purchase QFF bonus points on offer. Here’s how it works.

Spend at least $1,500 using the card in each month of the first six months after account opening, to be awarded 20,000 QFF points each month. That’s a total of $9,000, which sounds like a lot, but it’s actually a quite achievable target via everyday spending when spread over six months. You may need to juggle with the timing of some quarterly bills to make sure they don’t all come at once, but it’s worth a little effort to get your hands on those points. And because the points are awarded in monthly parcels, you can miss the target in one or more months without forfeiting the whole bonus.

Following the reduction in the number of Qantas Points required for long-haul Economy flights, those 120,000 points are more than enough for a return Economy flight to London or New York (110,400 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%, 15% or 20% 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

$50 discount on wine purchase

Within 30 days of card approval youÕll also receive a $50 discount voucher redeemable once only against a purchase of at least $150 from the Qantas Wine Page. If you choose carefully that amounts to a 33% discount.

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% p.a. purchases interest rate, but the even higher 21.99% 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, youÕll 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.

And to sweeten the deal, there’s an annual fee discount in the first year, when you will pay only $199 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.

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.

The basics

About this card

Card setup
Single
Card tier
Platinum
Card type
Mastercard
Card use
Personal
Credit rating
Good
Gambling transactions allowed
No
Joint application
No
Minimum age
18 years old
Minimum income
$35,000
Minimum income for pensioners
Same as standard
Pensioners
Rewards program
Qantas Frequent Flyer
Temporary residents
No

Cardholders

Additional cardholders
4
Additional card fee
$50 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 55 days on purchases
Minimum repayment
2%

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.18 months0%N/A21.99% p.a.

Balance transfers to this card

Balance transfer earns rewards
No
Balance transfer fee payment due
First statement
Balance transfer from personal loan
Yes
Balance transfer processing time
10 - 14 days
Interest free days with unpaid balance
0 days
Maximum balance transfer
N/A
Available to existing customers
No

Banks you can't balance transfer from

You can't balance transfer to the Qantas Premier Platinum Credit Card at the promotional balance transfer rate from:

  • Citi
  • Qantas Money

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.18 months0%N/A 21.99% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

MonthlyAnnually
Cash advances 1.83% 21.99% p.a.
Purchases 1.67% 19.99% p.a.

Fees

Annual fee
$199 p.a.
Annual fee 2nd year
$299 p.a.
Cash advance fee
3%
Dishonour fee
$15
Duplicate statement fee
$2
Foreign exchange fee
3%
Late payment fee
$10
Over limit fee
$40
Overseas ATM balance fee
$0
Overseas ATM withdrawal fee
$5
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
120,000 points
Reward points expiry
Never as long as you keep your account active
Rewards program
Qantas Frequent Flyer
Spend required for bonus points
$1,500 a month for the first 6 months

Earning points with this card

Frequent flyer points
1 pt per $1 spent up to $10,000 then 0.5 pts per $1 spent per statement period
Overseas earn rate
1.5 pts per $1 spent
Points cap per month
N/A
Points cap per year
N/A
Points earned on ATO payments
N/A
Reward points
1 pt per $1 spent up to $10,000 then 0.5 pts per $1 spent per statement period

Additional benefits

Airport lounge access
Yes
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 $35,000 per year
Have a good credit history
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Age Pension, Disability Pension and Widower's Pension are acceptable.
Carer's Allowance and Child Support Payments are acceptable.
Joint applications are not allowed
Temporary residents are not eligible
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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