NAB Qantas Rewards Premium Credit Card – Rates and Fees

Information verified correct on March 28th, 2017

Enjoy up to 1.5 Qantas Points per $1 spent, complimentary travel insurance and up to 44 interest-free days with the NAB Qantas Rewards Premium Credit Card.

The NAB Qantas Rewards Premium Card is built around the premise that “more is better”. Its range of features includes rewards, complimentary insurance, platinum concierge services, travel perks and dining benefits.

It also offers an introductory interest rate of 4.99% p.a. on balance transfers for the first 6 months (reverts to the cash advance rate thereafter).

Product NameNAB Qantas Rewards Premium Card
Rewards ProgramQantas Frequent Flyer
Balance transfer rate (p.a.)4.99% p.a. for 6 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Cash Advance Rate (21.74% p.a.)
Balance Transfer Limit90% of available credit limit
Purchase rate (p.a.)19.99% p.a.
Annual fee$250 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 44 days on purchases
Cash advance rate (p.a.)21.74% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$6,000
Card TypeAmerican Express/Visa
Late Payment Fee$9
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Foreign Currency Conversion Fee (AMEX)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Complimentary Travel InsuranceYes
Complimentary Travel Insurance Cover6 months
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$6,000
Annual Fee$250 p.a.
Late Payment Fee$9
Over Limit Fee$0
Cash Advance Fee2% or $2.50, whichever is greater
Overseas Cash Advance Fee2% or $2.50, whichever is greater
Overseas Emergency Replacement$100
Overseas ATM Balance check$1
Overseas ATM Withdrawal Fee$5
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Foreign Currency Conversion Fee (AMEX)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Gambling Transactions AllowedYes
Gambling Transactions Interest RateCash Advance Rate
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders1
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

Pros

  • This card comes with an introductory balance transfer rate of 4.99% p.a. for 6 months.
  • The NAB Qantas Rewards Premium Credit Card is a dual card account. Choose between using your American Express or Visa card depending on how many points you can accrue in each situation.
  • Cardholders are allowed one extra card pack featuring both the Visa and American Express at no extra cost.
  • Cardholders can benefit from complimentary insurance covers and concierge services.

Cons

  • This card only has an interest-free period of up to 44 days which is short when compared to other banks that offer up to 55 interest-free days.
  • For a platinum card, the rate of accrual is low. You will only earn 1.5 points per $1 spent on eligible purchases with the American Express and 0.5 points per $1 spent on eligible purchases with the Visa card.
Rewards ProgramQantas Frequent Flyer
Rewards Points per $ (VISA/MC)0.5
Rewards Points per $ (AMEX)1.5
Rewards Points per $ (VISA/MC) Cap12,500
Rewards Points per $ (AMEX) Cap37,500
Points ExpiryNever

NAB Qantas Rewards Premium Credit Card review

The NAB Qantas Rewards Premium provides a host of exclusive benefits for frequent flyers and big spenders alike, including complimentary Qantas Frequent Flyer membership, Qantas Points for everyday spending and a range of complimentary insurance covers. The introductory balance transfer rate also gives you ways to save on interest charges for 6 months.

It also has a standard annual fee of $250 and the rewards earn rate is slightly lower than some of the other premium cards on the market. Compare the features and fees of this card to determine whether it is right for you.

Benefits of using a NAB Qantas Rewards Premium Credit Card

  • Earn up to 1.5 Qantas Points for your spending. You can earn 1.5 points per $1 on the Amex card and 0.5 points per $1 on your Visa card. This is one of the most competitive earn rates on the market at the moment, giving you the opportunity to maximise your points as you spend. There are also bonus points available for purchases on selected Qantas products and services.
  • Balance transfer offer. You can use this card to save money on interest charges by taking advantage of the 4.99% p.a. interest on balance transfers for the first 6 months. Note that the introductory rate reverts to the standard cash advance rate of 21.74% p.a. thereafter.
  • Complimentary Qantas Frequent Flyer membership. If you're not already a Qantas Frequent Flyer member, this card will waive the standard joining fee of $89.50.
  • Complimentary insurance. This card offers a range of complimentary insurance options. You can travel with peace of mind with overseas travel insurance, interstate flight insurance, transport accident insurance and domestic hotel burglary insurance. Plus your spouse and dependent children will also be covered for travel insurance if they're travelling with you and you spend $500 of their travel costs using the card. Items you buy with the card can also be covered by price protection insurance, purchase protection insurance and extended warranty insurance.
  • Dual card account. The NAB Qantas Rewards Premium comes with both a Visa card and an American Express companion card to maximise the potential points you can earn.
  • Concierge service. Get 24/7 access to your own personal assistant for travel and lifestyle services with the NAB Platinum Concierge Service.
  • Amex and Visa perks. This card allows you to take advantage of some of the finest shopping, dining, travel and entertainment offers available with Amex Connect. It also comes with Visa Front Line Access that allows you to reserve tickets to some of the biggest events before they go on sale to the general public.

Features of the NAB Qantas Rewards Premium Credit Card

  • Annual fee. This card has a standard annual fee of $250.
  • Purchase rate. Your purchases will collect a standard variable interest rate of 19.99% p.a.
  • Cash advance rate. This card charges a standard variable cash advance rate of 21.74% p.a.
  • Interest-free days. This card offers up to 44 interest-free days on purchases if you pay your balance in full by the due date on each statement.
  • Points cap. Points are capped once you spend $25,000 on eligible purchases per statement period.
  • Additional card. Maximise your points earning and manage your family spending in one account by requesting 1 additional cardholder for a $0 annual fee.
  • Security. This card comes with fraud monitoring and protection through the NAB Defence service. It also gives you access to the Verified by Visa and American Express SafeKey services to reduce online fraud, offers 24/7 emergency assistance and includes a zero liability policy for fraudulent transactions.
  • Currency conversion fee. A fee of 3% applies when you use your NAB Qantas Rewards Premium Visa or Amex card for transactions made in a foreign currency.

How to apply for the NAB Qantas Rewards Premium Credit Card

Applying for the NAB Qantas Rewards Premium Credit Card is simple and can be done online. Before you begin your application, it’s important that you read the terms and conditions to ensure you meet the following eligibility requirements.

Eligibility criteria checklist 

  • You must be at least 18 years of age
  • You must have good credit history
  • You must be an Australian citizen or permanent resident

Documents and information you'll need to provide 

Ensure the application process goes smoothly by organising the following documents before applying.

  • Personal details. This includes your full name, residential address, email address, contact number and Australian driver’s licence number.
  • Employment details. This includes your position, salary, and your employer's name and contact details. You may also be asked to provide several recent payslips or your latest Tax Statement and accountant's details.
  • Financial details. This includes details of your financial assets, including income from investments or savings accounts. It also includes any existing debts or other financial responsibilities such as mortgage payments, household bills and grocery spending.

Once you have provided all the requested information, just review the application and submit it. NAB will give you a response in 60 seconds and, if approved, you should get your new card within 5-7 working days.

The NAB Qantas Premium Credit Card offers a range of complimentary extras and earns Qantas Frequent Flyer rewards for everyday spending. If you're considering this card, make sure the perks and potential points available will offset costs such as the $250 annual fee so that you can choose a product that suits your circumstances and your needs.

Frequently asked questions about the NAB Qantas Rewards Premium Credit Card

I will be going with my family on a trip to Europe. Do all the members have insurance cover?

When traveling abroad, your spouse and dependent children are covered under the insurance cover so long as they meet the other eligibility requirements. The insurance will be activated once a minimum of $500 prepaid travel costs are made on the card. The extent of insurance and exclusions can be found on the company’s insurance document.

Will my pre-existing medical condition be covered during my overseas trip?

There are several exclusions within the insurance cover that limit the extent to which insurance is provided. In general, pre-existing medical conditions are not eligible for coverage, but there may be exceptions. You can refer to the NAB card insurance policy booklet available on the bank's website for full details, or call the underwriting insurance provider, QBE on 1800 187 025 for further information.
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155 Responses to NAB Qantas Rewards Premium Credit Card – Rates and Fees

  1. Default Gravatar
    Taylor | March 14, 2017

    I applied for a NAB Qantas Rewards Premium Credit Card and was approved on Feb 24th 2017. At this time, the 75,000 bonus points for signing up was still on offer, with the deal ending on March 31st.

    I now see that they have removed this offer. Will I still receive my bonus points?

    Thanks.

    • Staff
      May | March 14, 2017

      Hi Taylor,

      Thank you for your inquiry.

      Usually, banks’ offers and promotions are subject to changed without notice. So if you have been approved for the NAB Qantas Rewards Premium Credit Card and the promo for the 75,000 Qantas bonus was still effective at that time, you should be able to receive the points, that is if you also met the conditions that apply to get the points.

      Should you need to confirm the crediting of your bonus points to your account, please contact NAB directly.

      Cheers,
      May

  2. Default Gravatar
    Kylie | March 6, 2017

    Do the points automatically transfer to Qantas? To review points collected to we go to Qantas or nab?

    • Staff
      Anndy | March 7, 2017

      Hi Kylie,

      Thanks for your question.

      When you use your NAB Qantas Rewards Premium Credit Card to make purchases, you’ll earn up to 1.5 Qantas Points.

      You can check the total points you have accumulated by logging in to your Qantas frequent flyer account.

      Cheers,
      Anndy

  3. Default Gravatar
    Joseph | February 5, 2017

    Is the 75,000 QANTAS bonus points still on offer for the NAB QANTAS Premium credit card?

    • Staff
      May | February 5, 2017

      Hi Joseph,

      Thank you for your inquiry.

      Unfortunately, no. The 75,000 Qantas bonus points are not offered by NAB for its Qantas Rewards Premium Card at the moment. The credit cards that offer bonus Qantas points are listed on this page.

      Cheers,
      May

  4. Default Gravatar
    Sunny | January 17, 2017

    What is meant by ‘making everyday purchases’? Are there restrictions on this, i.e. would I be limited to specific shops etc

    • Staff
      May | January 17, 2017

      Hi Sunny,

      Thanks for your question.

      As stated in the fine prints on NAB’s page “everyday purchases” exclude transactions NAB decides are wholly or partly for gambling or gaming purchases.

      Cheers,
      May

  5. Default Gravatar
    | August 16, 2016

    is there an age limit for travel insurance?

    does the spend limit apply to both cards separately?

    • Staff
      May | August 16, 2016

      Hi Robin,

      Thank you for your inquiry. Just to confirm though that you’ve come through to finder.com.au we are an Australian financial comparison website and general information service, not actually NAB nor QBE Insurance.

      NAB complimentary travel insurance is attached to the NAB Premium or NAB flybuys Rewards credit cards.

      As for the age limit to get cover, you must be 90 years of age or under before you leave for your trip. Cardholders between the ages of 76 and 90 years receive limited benefits compared to cardholders aged 75 years and under. Please refer to the Schedule of Benefits for more details outlined in the PDS I sent to your email.

      Furthermore, prior to your trip, you must purchase a minimum of AU$500 (inclusive of taxes and other charges) in pre-booked transportation costs that include fares by air, rail, road or watercraft and/or land content costs such as tours, hire cars or other hired transport and accommodation on your NAB Premium or NAB flybuys Rewards Card.

      I hope this has helped.

      Cheers,
      May

  6. Default Gravatar
    Steve | May 8, 2016

    I have just got the NAB Qantas Rewards Premium card and have started to use it day to day to claim the 60,000 points. As I am travelling to Europe in August, if I purchase accommodation in Europe from the QANTAS web site do those purchases count towards the ‘Everyday purchases”?

    • Staff
      Ysa | May 10, 2016

      Hi Steve,

      Thanks for your question.

      Yes, those are counted as everyday purchases.

      Please note that everyday purchases exclude the following:
      - cash advances
      - bills paid over the counter at a bank, financial institution or post office
      - purchases of travellers cheques; transactions for gambling or gaming purposes
      - when the card is used as a debit card to access linked accounts
      - transactions which NAB have decided to be wholly or partly for a business or investment purpose
      - fees and charges (including government fees and charges)
      - interest charges
      - transactions which are disputed, fraudulent or involve abuse of your credit card account
      - payments and purchases which are refunded or reimbursed.

      Everything else are considered as everyday purchases.

      I hope this helps.

      Cheers,
      Ysa

  7. Default Gravatar
    | May 1, 2016

    I am in the process of closing another (only, and different type of) NAB credit card. Would I be eligible for the bonus points if I sign up for this card?

    • Staff
      Sharon | May 1, 2016

      Hi Amanda,

      Thanks for your question.

      As long as you don’t currently have the NAB Qantas Rewards Premium card and are opening a separate account, you’ll be eligible for the 60,000 bonus points.

      I hope this has helped.

      Cheers,

      Sharon

  8. Default Gravatar
    Peter | April 23, 2016

    Is this card “annual fee” free for the first 12 months.

    Thanks

    • Staff
      Ysa | April 23, 2016

      Hi Peter,

      Thanks for your question.

      This card attracts an annual fee of $250.

      You may wish to check our No Annual Fee Credit Cards page for a list of other credit cards which offer $0 annual fee for the first year.

      Cheers,
      Ysa

  9. Default Gravatar
    Matt | March 30, 2016

    regarding the bonus points nabs terms state “Your NAB credit card account must be open at time of points fulfilment.”
    what do they mean by tome of fulfilment? does the card have to be open when you use the bonus qantas points or does it only have to be open when the points are put on your frequent flyer account?

    • Staff
      Sharon | April 11, 2016

      Hi Matt, thanks for your question.

      The time of points fulfilment means the period that the bonus points will be credited to your account.

      Cheers,

      sharon

  10. Default Gravatar
    terrance | March 12, 2016

    How do i activate my platinum card without going into branch

    • Staff
      Ysa | March 13, 2016

      Hi Terrance,

      Thanks for your question.
      You should be able to activate your credit card via your online account or over the phone.
      I’ve emailed you the NAB’s contact details for your convenience.

      Cheers,
      Ysa

Credit Cards Comparison

Rates last updated March 28th, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Earn 2 Velocity Points per $1 spent and save with a reduced annual fee and a 0% p.a. balance transfer offer for 18 months.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
19.99% p.a. $199 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on balance transfers for the first 18 months combined with a low annual fee.
13.99% p.a. 0% p.a. for 18 months with 3% balance transfer fee $59 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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