The Qantas American Express Premium Card

On American Express' website

The Qantas American Express Premium Card

Highlights

  • Receive 30,000 bonus Qantas Points when you apply online, are approved and spend $3,000 in 3 months. New Amex Card Members only.
  • Relax with 2 complimentary Qantas Club invitations every year (conditions apply).
  • Complimentary domestic and international travel insurance.

Pros and cons

Pros

  • 30,000 bonus Qantas points for signing up and hitting the spending target.
  • Earn points on your everyday spend. Also earns points at a reduced rate on government spend.
  • Give up to 4 of your friends and family a card — at no extra cost — to earn more points.
  • $450 Qantas Travel Credit, which is fairly easy to trigger with your first Qantas purchase each year.
  • Comes with complimentary card purchase cover and travel insurance.

Cons

  • There is an annual fee of $249.
  • The purchase rate is quite high, but can be avoided with responsible use.
  • No balance transfer facility.

The basics

  • Additional cardholders. Get up to 4 additional cards for your friends and family to use at no extra cost. This makes it easier to accumulate more points, faster. The main account holder will be responsible for managing payments, etc.
  • Digital wallets. Works with Apple Pay, Google Pay, and Samsung Pay.
  • Gambling transactions. Purchases classified as gambling are blocked.

Rewards and benefits

  • Complimentary travel insurance. Cardholders have access to complimentary domestic and international travel insurance, which is in effect on trips that have been paid for with your card.
  • Concierge services. The Qantas American Express Premium Card does not include a concierge service.
  • Insurances. Purchases are covered with purchase and refund protection. Fraud protection is also in effect, covering against fraudulent transactions.
  • Lounge access. Get two complimentary Qantas Club Lounge passes each year when you use your card to purchase an eligible Qantas product or service, e.g. flights, hotels, etc.
  • Rewards points. Cardholders can earn 2 Qantas points per $1 spent on eligible Qantas products and services and 1 Qantas point per $1 spent on all other purchases. Purchases with government bodies in Australia such as the ATO earn 0.5 Qantas points per $1 spent. Annual fees, cash advances, interest, fees, and charges for traveller's cheques and foreign currency do not earn points. The is no cap on the number of points you can earn, which is great for large spenders.
  • Sign up bonus. Receive 30,000 bonus Qantas Points when you apply online, are approved, and spend $3,000 on your new Card within the first 3 months. Offer available to new Amex Card Members only.

Rates and fees

  • Annual fee. This card has an annual fee of $249. This is offset by the value of the sign up bonus, travel credit, lounge passes, and the value of points earned from purchases.
  • Balance transfers. There is no balance transfer offer on this card at this time.
  • Cash advances. Cash advances will be charged interest at the cash advance interest rate of 20.74% p.a. with interest accruing from the date of purchase. An additional one-off cash advance fee will also be charged.
  • Foreign exchange fee. Purchases made in a foreign currency incur a 3% foreign transaction fee. Applies to transactions made while overseas or when shopping online from an overseas merchant.
  • Interest-free period. This card offers an interest-free period of up to 44 days on purchases if you have paid off your previous balance by the due date. Cash advances are exempt from the interest-free period.
  • Purchases. There is no introductory offer on purchases on this card at this time. Purchases incur interest at the rate of 20.74% p.a. until they've been repaid.