Get the annual fee waived for your Qantas Frequent Flyer credit card when you opt for a packaged home loan.
There's nothing better than getting more value out your spending and home loans with a free Qantas Frequent Flyer credit card can help you do just that. When you make an eligible purchase on your credit card, you earn Qantas points. These points can be redeemed for a huge range of rewards, such as flights and upgrades, items from the Qantas store, Qantas hotels, Qantas epiQure and travel insurance.
Compare home loan packages with a free Qantas credit card
You can earn Qantas Points just for having and paying off your home loan. Check our article on frequent flyer home loans to learn more about these new, innovative products.
How do these loans work?
When you opt for a home loan package, which bundles all of your financial products with the one lender, you tend to get a selection of credit cards that you can have the annual fee waived. This is an incentive to you, the borrower, from the lender as they're trying to convince you to sign up for more of their products. This isn't necessarily a bad thing - if you're comfortable with switching your accounts over to the bank, the savings you could receive may outweigh the effort of swapping.
How does a package home loan benefit me?
If you opt for a package home loan where you typically get a credit card, insurance policy and transaction account along with your mortgage, you may be eligible for a range of perks including:
- The annual fee for your credit card waived
- Discounts off your insurance policy
- The monthly fee for your transaction account waived
- A discount off your home loan interest rate
Having all your products bundled with the one bank could be convenient because you can manage all your finances in one place, so there's no need to transfer funds back and forth from one bank to another.
In order to get the full benefit for a package home loan, you'll need to have the loan for at least a medium term. This way your savings accumulate overtime while you reap the benefits of a no annual fee Qantas credit card.
Are packaged home loans worth it?
When it comes to packaged home loans, your lender will tell you about all the benefits that you get like the fee waivers and discounts - but they might not mention the high annual fee that you'd need to pay. In most cases this fee is more than a few hundred dollars and could offset any savings you may have.
A home loan on its own will typically be cheaper in terms of the annual fee. You'll need to think about your personal and financial situation along with how much you spend, to see if the rewards you receive is worth the high annual fee.
What other credit card options do I have?
Lenders tend to offer their full range of credit cards to link to your packaged home loan. These can range from low rate cards, to balance transfer cards to other reward cards. If you're not a regular flyer with Qantas, there are other options available too. Many lenders offer cards linked to Velocity or their own award points system which gives you access to a wider range of rewards, such as cashback and shopping vouchers.
You'll find that you can also redeem these points for more airlines, such a Singapore Airlines, New Zealand Air and Cathay Pacific.