Qantas announces plans to launch its own credit card
Frequent flyers will be able to earn points with a platinum Qantas Mastercard by the end of the financial year.
Qantas has confirmed that it will release its own platinum credit card at the end of this financial year. While the specifics of the card haven't been released, the airline has confirmed that the card will be powered by Mastercard and issued by Citi and will offer a high points earn rate and exclusive travel benefits. The card will be tailored to savvy spenders who want to earn Qantas Points as they spend, but also want to take advantage of extra perks such as flight sale deals and airline lounge access.
Most major Australian banks (including American Express, ANZ, HSBC, Westpac, St.George, Bank of Melbourne, NAB and Bankwest) currently offer credit cards that can earn Qantas Points per dollar spent. However, this new product will be the first Qantas-branded credit card that we've seen on the market.
CEO of Qantas Loyalty Lesley Grant has said that the card is a response to the strong consumer demand to earn points on everyday spending. “Around 35% of credit card spending in Australia earns Qantas Points, which shows a strong interest in this type of reward but also plenty of room for growth,” said Grant.
Given the widespread drop in earn rates across the rewards credit card market, fingers crossed that this new Qantas platinum Mastercard injects some much-needed competition into the market.
The card will be available for applications by the end of this financial year. Until then, keep up to date with more information as it comes in with finder.com.au.