Qantas Premier Platinum 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
Qantas Premier Platinum Credit Card
Apply by 28 feb 19
Qantas Premier Platinum Credit Card
Receive 100,000 bonus Qantas Points (Spend Conditions Apply).
0% p.a. for 18 months on balance transfers.
Reduced annual fee of $149 p.a. in the first year ($299 p.a. thereafter).
Add to comparison
Qantas Frequent Flyer
Qantas Frequent Flyer
-
100,000
points
after spend criteria

Pros & cons

What's good?

What's not so good?

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.
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.

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 not as high as that of some of its competitors.

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 15 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.

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.

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
Yes

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

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
$149 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
100,000 points
Reward points expiry
Never as long as you keep your account active
Rewards program
Qantas Frequent Flyer
Spend required for bonus points
$3,500 in 90 days

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
N/A

Additional benefits

Airport lounge access
Yes
Complimentary flight voucher
Yes
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
Temporary residents are eligible
Age Pension, Disability Pension and Widower's Pension are acceptable.
Carer's Allowance and Child Support Payments are acceptable.
Joint applications are not allowed
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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