NAB Qantas Rewards Card – Rates and Fees

Information verified correct on December 3rd, 2016
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Get 15,000 bonus Qantas Points if you apply before 22 January 2017, and take advantage of a special balance transfer rate for 15 months.

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 apply before 22 January 2017, you stand to receive 15,000 bonus Qantas Points, if you make an eligible purchase within the first 90 days. 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 15 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.)0% p.a. for 15 months with a one off 3% balance transfer fee
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.)0% p.a. for 15 months (reverts to 19.99% p.a.)
Offer end date22 January 2017
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
Minimum Monthly Repayment2%
Card TypeAmerican Express/MasterCard
Late Payment Fee$9
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.
Minimum Repayment2%
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 (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

  • The NAB Qantas Rewards Card offers complimentary purchase protection insurance.
  • Enjoy a balance transfer and purchase offer of 0% p.a. for 15 months.
  • Receive 15,000 bonus Qantas Points on eligible spend.
  • An additional cardholder fee applies for only $0.

Cons

  • There is only up to 44 interest-free days with this card. Most other cards come with 55 interest-free days when you pay your account in full and make a purchase on your card.
  • You'll need to pay a joining fee of approximately $80 to be enrolled in the Qantas Frequent Flyer.
Rewards ProgramQantas Frequent Flyer
Bonus Points on Sign-up15,000
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

  • Bonus qantas points. If you apply for the NAB Qantas Rewards Card before 22 January 2017, you can earn as many as 15,000 bonus points. All you have to do to get these points upon receiving your cards is use it to make an eligible purchase within 90 days of your account opening. The points are then credited into your Qantas Frequent Flyer account within the following two months. Take advantage of these bonus points offer only if you apply online and this offer does not apply to existing NAB customers who wish to transfer from other NAB credit cards.
  • Interest rate offers. If you wish to use this card to transfer balances from existing credit cards and save money, you can enjoy a 0% p.a. interest rate for 15 months on both balance transfers and purchases as long as you apply and get approved by 22 January 2017.
    At the end of the 15-month period, if you have any outstanding balances, the special balance transfer rate will revert back to the standard purchase rate of 19.99% 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 December 3rd, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
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
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $59 p.a. 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

* 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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