NAB Qantas Rewards Card – Rates and Fees

Apply for a NAB Qantas Rewards Card today and take advantage of a balance transfer promotion and earn Qantas points per $1 spent on everyday purchases.

As part of your NAB Qantas Rewards Card account you actually get two cards, the NAB Qantas Rewards American Express Card and the NAB Qantas Rewards MasterCard. If you wish to transfer balances from existing credit cards to this one, you can look forward to a special balance transfer rate that stays in place for 6 months.

You can use your NAB Qantas Rewards Card worldwide at any merchant who accepts American Express or MasterCard. While the MasterCard finds acceptance in more places, its American Express counterpart enables you to earn more points.

Product NameNAB Qantas Rewards 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$95 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.
$500
Card TypeAmerican Express/Visa
Late Payment Fee$15
Foreign Currency Conversion Fee (MC)
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 InsuranceNo
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.
$500
Annual Fee$95 p.a.
Late Payment Fee$15
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 (MC)
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 Fee
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

  • Enjoy a balance transfer rate of 4.99% p.a. for the first 6 months.
  • The NAB Qantas Rewards Card offers complimentary purchase protection insurance and complimentary Qantas Frequent Flyer membership.
  • An additional cardholder fee applies for only $0 p.a.

Cons

  • There are only up to 44 interest-free days on purchases with this card, as opposed to other credit cards that offer up to 55 interest-free days.
Rewards ProgramQantas Frequent Flyer
Rewards Points per $ (VISA/MC)0.5
Rewards Points per $ (AMEX)1
Rewards Points per $ (VISA/MC) Cap10,000
Rewards Points per $ (AMEX) Cap20,000
Points ExpiryNever

NAB Qantas Rewards Card review

You can earn these points when you make everyday purchases, and you can redeem accumulated points through the Qantas Frequent Flyer program. While membership to this program attracts a fee, you get complimentary membership with your NAB Qantas Rewards Card. This card also allows you to get an additional card without having to pay a fee.

Benefits of the NAB Qantas Rewards Card

  • Interest rate offers. If you wish to use this card to transfer balances from existing credit cards and save money, you can enjoy a 4.99% p.a. interest rate for 6 months on balance transfers. At the end of the 6-month period, if you have any outstanding balances, the balance transfer rate will revert back to the standard cash advance rate of 21.74% p.a. Do remember that you can balance transfer as little as $200 and this can be from one or two non-NAB issued credit or store cards. However, you cannot transfer balances that exceed your credit limit.
  • Additional reward points. When you use your American Express card, each dollar you spend earns 1 Qantas Point and for the MasterCard, every 1 dollar spent will earn 0.5 point. With your free membership to the Qantas Frequent Flyer program, you can redeem accumulated points for award flights and upgrades, as well as to shop for merchandise at the Qantas Frequent Flyer Store. While there is a cap in place that limits the number of points you can earn, it stands at a reasonable $20,000 spending limit per statement period.

Features of the NAB Qantas Rewards Card

With this credit card you get to enjoy benefits of American Express as well as MasterCard, and in many instances, it makes sense to prefer using one over the other. Take the following points into account to establish if this card is for you:

  • Interest rates, fees and offers. Interest rate on purchases attracts a 19.99% p.a. while there is a 21.74% p.a. on cash advances. The annual fee for the account is $95, in addition to that you can get a supplementary card at no extra cost.
  • Interest-free periods. You can get up to 44 interest-free days on purchases if you pay your account in full every billing cycle.
  • Contactless transactions. MasterCard PayPass gives you the ability to make contactless transactions when you spend under $100
  • Online shopping. Discounted shipping to Australian addresses when you do online shopping at any UK or US store, owing to MasterCard and Borderlinx. Amex Connect brings you a number of special offers, and you can also make use of globaleshop for shipping purchases from UK and US online stores.
  • Complimentary insurances. Purchase protection cover offers protection to all eligible purchases from theft, loss, or damage for up to 90 days from the date of purchase. You can also benefit from round-the-clock emergency travel assistance offered by MasterCard Global Service.

How to apply for the NAB Qantas Rewards Card

Eligibility criteria

To get this card, you have to meet the following eligibility criteria.

  • You're age is over 18 years
  • You're a permanent resident of Australia

Required information

NAB requires that it verifies your identity, but this can be done online. You can also skip this step if you're an existing NAB customer. As part of the application process, prepare to part with the following.

  • Your contact details
  • Your employer's contact details
  • Details about your earnings
  • Details about your expenditure
  • Details about your assets and liabilities

Before you apply for this credit card, take into account that it's not the only one that comes with the convenience of both a MasterCard and an American Express card. This requires that you compare it with other similar offerings and go through all essential features.

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Credit Cards Comparison

Rates last updated May 26th, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Exclusive Offer
Earn 2 Velocity Points on top of the standard earn rate per $1 spent within the first 3 months, plus a $129 Virgin Australia Gift Voucher each year.
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 Credit Card
Earn 1 Reward Point per $1 spent and receive an annual fee refund with minimum spend.
19.99% p.a. 0% p.a. for 22 months with 2% balance transfer fee $99 p.a. Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
Receive a low introductory offer of 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months. Also, enjoy an annual fee waiver in the first year.
0% p.a. for 3 months (reverts to 19.74% p.a.) 0% p.a. for 12 months $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info
NAB Premium Card
An introductory rate of 0% p.a. for 24 months on balance transfers combined with premium benefits such as travel insurance covers.
19.74% p.a. 0% p.a. for 24 months with 3% balance transfer fee $90 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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