Balance Transfer Cards That Earn Qantas Points

What is a balance transfer credit card that earns Qantas Points?

A balance transfer credit card that earns Qantas Points allows you to transfer your existing debt from another credit card while also earning Qantas Points on eligible transactions. These cards offer the dual benefit of reducing interest on transferred debt during the 0% or low-interest period while still enabling you to accumulate rewards points for future Qantas flights, upgrades, or other travel-related perks.

Helpful tip: Use our Balance Transfer Savings Calculator to see how much money you could save!

Expert advice on balance transfer credit cards with Qantas Points

Combining a balance transfer offer with the opportunity to earn Qantas Points can be a smart move if managed carefully. While balance transfers generally focus on reducing debt with 0% interest for a fixed period, adding the ability to earn Qantas Points can make day-to-day spending more rewarding.

However, it’s essential to prioritise paying down your transferred balance within the promotional period, as unpaid amounts will be charged at a much higher interest rate once the intro offer ends.

What to consider when earning Qantas Points with a balance transfer credit card

1. Revert rate. Once the balance transfer period ends, the card's interest rate will revert to the regular purchase rate, which could be as high as 20-25%. It’s crucial to have a plan to pay off your balance within the 0% interest window to avoid high interest charges.
2. Balance transfer fee. Some cards charge a fee to transfer your debt, usually a percentage of the amount transferred. Look for a card that minimises this cost to make the most of the 0% interest offer.
3. Point-earning cap. Check if there are any caps or limits on the number of Qantas Points you can earn with your new card, particularly if you’re a frequent spender. Cards with high caps are ideal if you plan to continue using the card after clearing your balance transfer.

Credit Card Compare expert on choosing a balance transfer card with Qantas Points

David Boyd, the co-founder of Credit Card Compare suggest looking for balance transfer cards that align with your financial goals.

If your goal is to manage debt while also maximising Qantas Points, focus on a card that offers a long 0% interest period and generous Qantas Point earning potential.

Cards that offer sign-up bonuses for meeting a minimum spend could also provide a significant boost to your Qantas Points balance, but only if you can comfortably meet the spending requirements.

Balance transfer terms to know before applying

• Introductory rate. The 0% or low-interest rate that applies to balance transfers for a specific period.
• Revert rate. The standard interest rate that applies once the introductory period ends.
• Balance transfer fee. A one-time fee charged when transferring a balance, typically between 1-3% of the transferred amount.
• Points cap. Some cards have a cap on the number of Qantas Points you can earn each month or year.

How to do a balance transfer

1. Calculate your balance. Determine how much you wish to transfer from your current credit card to the new balance transfer card.
2. Apply for a card. Choose a card that offers both a competitive balance transfer rate and the ability to earn Qantas Points.
3. Transfer your balance. Once your application is approved, provide the details of your existing credit card balance. The new provider will handle the transfer, and your balance will move to the new card.
4. Repay during the 0% period. Ensure you pay off as much of the transferred balance as possible during the 0% interest period to avoid high revert rates.

How to get the most value from using a balance transfer and earn Qantas Points

To maximise your savings and rewards, focus on repaying the balance transfer within the introductory period. While doing so, use the card for everyday purchases that earn Qantas Points, but avoid spending more than you can afford to repay each month.

Taking advantage of promotional offers, like bonus points for reaching a spending threshold, can help boost your Qantas Points balance quickly.

Expert opinion on using a balance transfer card for Qantas Points

Andrew Boyd, the co-founder and credit card expert at Credit Card Compare explains what you should look out for when choosing a balance transfer credit card.

Choosing a balance transfer credit card that earns Qantas Points can be a great way to reduce your debt and earn rewards, but only if you manage it properly. The key is to focus on repaying the transferred balance before the 0% interest offer ends, so you don’t fall into the trap of paying high interest later.

Use the card for your regular spending and pay it off each month to keep earning Qantas Points without accumulating new debt.

Benefits of credit card balance transfers with Qantas Points

1. Save on interest. Enjoy 0% interest on your transferred balance for a set period, helping you save on interest charges while paying off your debt faster.
2. Earn Qantas Points. While reducing your debt, you can also earn Qantas Points for future flights, upgrades, or other rewards, making your credit card work for you even more.
3. Consolidate debt. If you have multiple debts, you can consolidate them into one balance transfer card, making it easier to manage and track your repayments.
4. Additional benefits. Compare cards to see if it comes with airport lounge access or complimentary travel insurance.