Annual. Fee
$250

Purchase Rate
20.99% p.a. / 21.74% p.a.

Rewards Rate
0.33x-0.67x Points

Intro Offer
Up to 70,000 Points

The NAB Qantas Rewards Premium Credit Card earns Qantas Points, which you can redeem for flights, hotels, merchandise and more through Qantas Marketplace.

Fees, interest rates and other details

Feature	NAB Qantas Rewards Premium Credit Card
Annual fee	$250 ($150 for the first year).
Variable purchase rate	20.99% per annum.
Variable balance transfer rate	21.74% per annum (0% standard balance transfer rate for the first 12 months of card ownership).
Balance transfer fee	3% of the transaction.
International transaction fee	3% of the transaction.
Late payment fee	$15.
Minimum credit limit	$6,000.
Interest-free days on purchases	Up to 44 days. (If you don’t pay the full closing balance by the due date, you’ll be charged interest from the day after the due date on everything you have purchased during the statement period, minus any payments you have made. Remember, this will not apply to cash advances.)
Additional cardholders	Free (applicants must be at least 16 years old).
Card network	Visa.
Intro offer	Earn up to 70,000 Qantas Points in the first year of card ownership: • 60,000 points when you spend at least $2,000 in the first 60 days, and • 10,000 additional points for having the card for more than one year).
Rewards program	Qantas Frequent Flyer.
Rewards details	• Earn 1 point per $1.50 spent (up to $3,000 per billing cycle). • Earn 1 point per $3 spent on purchases beyond the first $3,000 in one billing cycle (up to $6,000). • Earn 1 point per $1 spent on eligible Qantas services.
Complimentary insurance	• Travel insurance (domestic and international). • Rental vehicle excess in Australia. • Purchase protection. • Extended warranty.
Benefits	• Comes with a free Qantas Frequent Flyer membership — a value of $99.50. • Visa Premium Access — a discount portal for Visa cardholders. • 24/7 concierge service. • Compatible digital wallets: Google Pay, Apple Pay and Samsung Pay. • Compatible wearable devices: Apple Pay, Fitbit Pay and Garmin Pay. • Fraud protection with NAB Defense.

Basic overview

The NAB Qantas Rewards Premium Credit Card costs $250 per year but comes with various perks, such as free Qantas Frequent Flyer membership — a value of $99.50. Cardholders also get access to deals and discounts through Visa Premium Access.

Understanding the annual fee’s value

Over time the rewards and benefits of a credit card could potentially outweigh the annual fee, depending on how you use the card. Here are a few ways to use the card’s rewards strategically to ‘cover’ the $250 annual fee (once the free introductory year has passed):

Earn at least 16,000 points in one year, which can be redeemed for select economy return flights worth more than $300, at the time of this writing. One way to earn 16,000 points is to spend $3,000 each billing cycle for eight months.
Take advantage of perks, such as using the free Qantas Frequent Flyer membership ($99.50 value) and claiming the intro offer to reduce the annual fee from $250 to $150 ($100 value) and to earn up to 70,000 bonus Qantas points, which you’ll need to redeem for an item worth at least $50.

Know the true cost of rewards

To earn credit card rewards, your account must be in good standing and you may need to meet spending minimums. In doing so, you may also incur fees and interest charges in addition to the annual card fee. These costs may offset the overall value of the rewards you accumulate and potentially any ‘savings’ you make through an introductory offer or through redeeming points for other benefits. So, it’s crucial to balance your spending and account management to maximise benefits whilst mitigating costs.

Understanding the balance transfer offer

The NAB Qantas Rewards Premium Credit Card offers 0% interest on balance transfers for the first 12 months. This means you can move over an existing credit card balance and pay zero interest on your transferred balance for a year.

Remember, to retain the 0% interest rate on your balance transfer, you will need to make the interest-free days payment by the due date shown on your statement each month.

Mind the revert rate

If you have a credit card balance on a card with a higher interest rate, moving the balance to one with 0% interest could save you money — and give you time to pay down the balance. Remember that the new card’s standard interest rate applies once the promotional period ends. So, ideally, you want to pay off the debt during the 0% interest period. It’s also important to consider the new card’s standard rate versus the interest rate you are paying on your current card, especially where you may be unable to pay the balance transfer off within the 0% interest rate period.

Offers and rewards

Welcome offer

Earning Qantas Points

Redemption options

70,000 bonus Qantas Points may be available in the first year of ownership.

Earn up to 60,000 points when you spend at least $2,000 in the first 60 days.
Get an extra 10,000 points if you keep the card for over one year.

What’s the welcome offer worth?

The welcome offer’s value depends on how you redeem the points. Here are a few examples of what you could get with 70,000 Qantas Points:

A return flight from Sydney to Perth (valued at 36,000 points)
A return flight from Sydney to Melbourne (valued at 16,000 points)
Various merchandise through the Qantas Marketplace website, such as a Samsung Tab A9+ Wi-Fi 64G (69,550 points worth $379).

The above offer and the redeemable value of the points were current at the time of writing and are subject to change.

Collect up to 5,500 Qantas Points on everyday purchases during each statement period:

Earn 1 point for every $1.50 spent (up to $3,000 per billing cycle).
Earn 1 point for every $3 spent on purchases beyond the first $3,000 in one billing cycle (up to $6,000).
Earn 1 point for every $1 spent on eligible Qantas services.

You can redeem Qantas Points for the following products and services:

Merchandise bought through the Qantas Marketplace website, including electronics, gift card, clothing and more.
Flights, upgrades, hotels and car rental bookings made through Qantas or eligible travel agencies.
Wine purchases made through wine.qantas.com.

Eligibility

Who may be eligible?

To apply for the NAB Qantas Rewards Premium Credit Card, you must:

be at least 18 years old
receive a regular income
be an Australian resident for tax purposes
be an Australian or New Zealand citizen, or hold an acceptable Visa or residency card.

Who might be suited to this card?

According to NAB’s Target Market Determination (TMD)[1], the NAB Qantas Rewards Premium Credit Card is suited for:

a person who wants a credit card to cover the cost of everyday or large household purchases and to flexibly manage their monthly spending
a person who wants to make the most out of their purchases by earning Qantas rewards points which can be redeemed for award flights, products, and vouchers from the Qantas store
a person who wants access to complimentary travel and purchase insurance
a person who wants to manage and reduce the interest on their card
a person who is willing to pay a higher annual fee and higher interest rate to earn or get access to additional features and benefits
a person who is not likely to carry a substantial balance over an extended period of time.

Who might not be suited to this card?

NAB’s TMD also states that this credit card is not suitable for a person:

wanting
- a lower minimum credit limit
- a lower annual fee
- a lower interest rate
- uncapped reward points
- a basic credit card without rewards points.
who is likely to carry a substantial balance over an extended period.

How to submit an application

To apply for the NAB Qantas Rewards Premium Credit Card online, click the ‘Apply now’ button and follow the prompts. New customers to NAB should have the following items handy:

identification, such as a driver’s license or passport
employment details
income, assets debt and data about living expenses
proof of income, such as payslips.

You’ll also need to select a credit limit for the card and input a Qantas Frequent Flyer number, if applicable.

The application takes roughly 15 minutes to complete. Once approved, the physical card should arrive within five to seven working days.

» MORE: How to activate your new credit card

Customer satisfaction ratings

Note: Customer review websites can be insightful, but keep in mind that the reviews may not accurately reflect the average experience; for example, unhappy customers may be overrepresented in these reviews. Products also change over time, and reviews may reflect experiences with features and benefits that are no longer available. Nevertheless, these sites are just one way to learn more about the company and the products on offer before you make a decision.

As of this writing:

Based on over 290 Trustpilot reviews, NAB scored: 1.8 out of 5 stars.
Based on over 20 Product Review ratings, the NAB Qantas Rewards Premium card scored: 2.1 out of 5 stars.

NerdWallet does not endorse the above scores or reviews and provides them for illustrative purposes only.

There are no minimum income requirements for the NAB Qantas Rewards Premium Credit Card advertised by the bank. However, applicants must be receiving a regular income to apply.

The NAB Qantas Rewards Premium Credit Card has a minimum credit limit of $6,000, as of this writing.

NAB, “Target Market Determination: NAB Qantas Rewards Premium Card ,” accessed June 12, 2024.

NAB Qantas Rewards Premium Credit Card Overview 2024

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