What credit score do I need to get the NAB Qantas Rewards Signature Card?

By   |   Verified by Yvonne Taylor   |   Updated 12th January 2022

Credit score needed to get the NAB Qantas Rewards Signature Card
  • You need good credit to qualify for this premium card.
  • The NAB Qantas Reward Signature Card comes loaded with rewards points and privileges to balance its high annual fee.
  • The NAB Qantas Rewards Signature Card is best suited for applicants with a relatively high income level and high monthly spend.

If you’re considering the NAB Qantas Rewards Signature Card, which allows you to earn highly desirable Qantas Frequent Flyer Points plus bonus points, you may be wondering what kind of credit score you will need to be a successful applicant, and what other eligibility criteria you need to meet.

You’ve come to the right place to get all the information you need.

NAB Qantas Rewards Signature Card

On NAB's website

Balance transfer

6 months at 0% p.a.

Purchase rate

19.99% p.a. ongoing

Annual fee

$295.00 for 1st year

Highlights

  • Earn up to 110,000 bonus Qantas Points. Receive 90,000 bonus points when you spend $3,000 in the first 60 days from account approval date and 20,000 bonus points when you keep your card open for over 12 months. Terms and conditions apply.
  • Enjoy 0% on balance transfers for 6 months with 2% Balance Transfer Fee.
  • Reduced annual fee of $295 p.a. instead of $395 p.a. (saving you $100).

Pros

  • Complimentary Qantas Frequent Flyer membership fee valued at $99.50.
  • Six complimentary insurances when you make an eligible purchase.
  • Earn 1 Qantas Point per $1 spent on everyday purchases up to $5,000 per statement period then 0.05 pts per $1 spent thereafter (capped at $20,000).

Cons

  • Annual fee of $395 p.a. is quite high.

Who is the NAB Qantas Rewards Signature Card for?

The NAB Qantas Rewards Signature Card is for those on the lookout to derive extra rewards and travel perks from their regular spending. Earn 1.0 Qantas points on eligible purchases up to $5,000 per month, and 0.5 points for further spending up to $20,000 in a monthly cycle. A significant number of bonus points can also be earned, and both regular travellers and shoppers will benefit from the complimentary insurance policies.

What credit score is needed for the NAB Qantas Rewards Signature Card?

While NAB does not specify a required score for this card, typically you will be expected to have a good credit score to be eligible for most credit cards. Premium cards like this one are usually granted only to those with a score classified as ‘good’ or better.

This is what a good score is, according to the three main Australian credit scoring bodies:

You can check your credit score using Finty’s free credit score service.

How hard is it to get the NAB Qantas Rewards Signature Card?

You qualify for the NAB Qantas Rewards Signature Card if you:

  • Are 18 years or older;
  • Have a regular income;
  • Are an Australian or New Zealand citizen or Australian Permanent Resident;
  • Are a non-resident, but hold an acceptable Temporary Residency Visa.

Key features and perks

  • Earn Qantas Points at a very acceptable rate (but note that there is a points threshold beyond which the earn rate declines, and also an absolute cap which is so high it shouldn’t be a problem for most cardholders).
  • Easily qualify for a large number of bonus Qantas Points.
  • Six complimentary insurance policies, including purchase protection and overseas travel insurance.
  • 0% p.a. balance transfer regularly offered for a promotional period.
  • High minimum credit limit.
  • Interest-free period on purchases up to 44 days.
  • NAB concierge service.
  • Visa Premium access.

Fees

  • High annual fee (reduced in first year).
  • High interest rate on purchases and cash advances.
  • No reward program fee charged
  • Late payment fee.
  • Cash advance fee.
  • Foreign exchange fee.
  • Additional card: $0.

Pros and cons

Pros

  • Bonus Qantas Points and ongoing Qantas Points.
  • High points cap so you can earn more points.
  • Benefits including travel insurance, extended warranty and purchase protection.
  • Balance transfers at 0% p.a. for an introductory period are offered regularly.
  • Access to Visa Premium discounts and privileges.
  • Concierge service.
  • Fraud protection and lost/stolen card emergency assistance.
  • Account alerts provided by SMS.

Cons

  • High annual fee even after discount.
  • Earning the full amount of bonus Qantas Points is subject to an initial spending target and keeping the card beyond 12 months.
  • Higher interest rates compared to some other NAB cards.
  • Monthly points threshold (beyond which the earn rate declines) and points cap (beyond which no points can be earned).

How do I apply?

You can apply online and the process takes about 15 minutes if you have all your documentation to hand. Once completed, you will get a response within 60 seconds. Your application will then be verified and NAB may ask for additional information and documentation to complete the process.

If your credit card application is approved, you will get the physical card within five working days. You need to activate it via the NAB app or NAB Internet Banking or by calling the bank or visiting a branch.

Documents you will need

  • Details of employment and employer details for the past three years.
  • Your financial information including income, assets, debts and expenses.
  • An idea about the credit limit you want for your card.
  • Recent financial documents like payslips or bank statements.
  • If you are new to NAB or do not have an active NAB account, provide one form of identification such as an Australian driver’s licence, Australian or international passport or a Medicare card.
  • Existing NAB customers will be asked for their NAB ID.

On NAB's website

Alternatives

It’s always worthwhile comparing credit card options before applying for a credit card, to find out if there are similar cards which might suit you better. If you’re looking for a premium card with rewards points, bonus points, and travel perks, take a look at the following:

Westpac Altitude Black Credit Card (Altitude)

On Westpac's website

New offerApply by 24 February 2022

Westpac Altitude Black Credit Card (Altitude)

Highlights

  • Receive 180,000 Altitude bonus points when you spend $6,000 on eligible purchases within 120 days of card approval. Exclusions apply
  • Transfer your balance at 0% p.a. for 24 months (1 % balance transfer fee applies). Reverts to cash advance rate of 21.49% p.a.
  • $99 p.a. annual fee for the first year ($250 p.a. annual fee thereafter).

Pros

  • 180,000 bonus Altitude Points when you spend $6,000 in 120 days.
  • 0% p.a. for 24 months on balance transfers.
  • Additional savings with the $99 first-year annual fee ($250 p.a. thereafter).

Cons

  • The high annual fee of $250 p.a. after the initial year.
American Express Qantas Ultimate Credit Card

On American Express' website

American Express Qantas Ultimate Credit Card

Highlights

  • Receive 100,000 bonus Qantas Points when you apply online, are approved and spend $3,000 on your new Card within the first 3 months. Available to new Card Members only
  • Earn 1.25 Qantas Points for every $1 spent on card purchases, except spend at government bodies in Australia where you will earn 0.5 Qantas Points per $1 spent.
  • Save the offer to your eligible Card and get 3 extra Qantas Points per $1 spent, in-store or online at participating Shop Small businesses by 31/03/2022, up to a maximum of 40,000 extra Points. Exclusions apply.

Pros

  • The 100,000 bonus Qantas Points when you meet the criteria.
  • 2 complimentary Qantas Club lounge invitations each year.
  • $450 Qantas Travel Credit each year (conditions apply).

Cons

  • The annual fee of $450.
American Express Qantas Premium Credit Card

On American Express' website

American Express Qantas Premium Credit Card

Highlights

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

Pros

  • 30,000 bonus Qantas Points.
  • Get up to 4 additional card members at no extra cost.
  • Comes with complimentary purchase and travel insurance.

Cons

  • The annual fee of $249.
American Express Explorer Credit Card

On American Express' website

Highlights

  • Receive 100,000 Bonus Membership Rewards Points when you apply online, are approved and spend $4,000 on your new Card within the first 3 months. T&Cs apply. New Card Members only.
  • Receive a $400 Travel Credit each year towards any flights, hotels and car hire when you book online with this card.
  • Earn 2 Membership Rewards points per $1 spent on purchases except government bodies in Australia where you will earn 1 point per $1 spent (uncapped).

Pros

  • The 100,000 bonus Membership Rewards Points when approved and reach spend requirement within the first 3 months.
  • $400 travel credit every year.
  • Get 2 complimentary airport lounge passes per year.

Cons

  • The $395 p.a. annual fee.
St.George Amplify Signature Credit Card (Amplify)

On St.George's website

Apply by 24 February 2022

St.George Amplify Signature Credit Card (Amplify)

Highlights

  • Earn up to 200,000 Bonus Amplify Rewards Points over 2 years when you spend $12,000 on eligible purchases each year. Plus, receive a birthday points bonus of 10% of the points earned in the last 12 months.
  • 0% p.a. for 24 months on balance transfers with 1% balance transfer fee on amounts transferred.
  • Includes complimentary overseas travel insurance for up to 6 months

Pros

  • The 200,000 bonus Amplify Rewards Points.
  • 0% p.a. for 24 months on balance transfers.
  • Includes complimentary overseas travel insurance for up to 6 months

Cons

  • There is a 1% balance transfer fee.
  • The ongoing annual fee is high at $279 p.a.

FAQs

My credit score is ‘bad’. What should I do?

There are two ways in which you can get a bad credit score:

  • As a result of your own financial actions;
  • As a result of errors in your credit report.

If your credit is damaged due to your own actions (or inaction), cultivating positive money management habits would help you get out of debt, repair your credit and relieve your financial stress.

Here are some steps you can take to mend your damaged credit:

  • Read our article on how to improve your credit score.
  • Review your credit reports. First, check your credit score free of charge. You also have the right to get a free credit report from any of the Australian credit reporting agencies every year. Find out what is bringing your score down. If there are any errors, contact the agency to have them rectified.
  • Get your bill payments under control.
  • Get your spending under control. Understand what triggers your spending.
  • Create a personal budget and try to stick to it. Not adding onto existing, unmanageable debts will help you whittle away at the big debts.
  • Aim to use around one third or less of your available credit.
  • Avoid multiple new credit (credit card and loan) applications which result in 'hard’ enquiries which can further erode your credit score.
  • Seriously consider debt consolidation measures to buy time to pay off loans and credit card balances.
  • Keep monitoring your credit to track your progress.

What is a 'good' credit score in Australia?

Here's how the credit reporting bodies define good, very good and excellent credit scores for Australians:

BureauGoodVery goodExcellent
Equifax622-725726-832833-1200
Experian625-699700-799800-1000
illion500-699700-799800-1000

What should I check for when I get my credit report?

Your credit record is yours even though it is managed and held by credit reporting bodies. It is not unusual to have errors and fraud happen, which can then affect your credit score through no fault of your own.

Here's what to check for when you get your credit record:

  • Make sure that all the credit enquiries and applications listed are actually ones you have initiated.
  • Check to ensure that all the listed defaults and repayment history information is correct.
  • Make sure that your personal and contact details have been correctly recorded.

If there are inaccuracies, outdated, incomplete, misleading or irrelevant information in your credit report, you have the right to get them corrected free of charge under the provisions of The Privacy Act 1988.

How do I get my credit report corrected?

The first step is to use internal dispute resolution, which means contacting the relevant credit provider. Law requires them to deal with the matters noted in your complaint. You can use their complaint handling process for free.

You may get external parties involved if the internal resolution fails. All the credit reporting bodies and all lenders (credit providers) in Australia are required to be members of a free and independent dispute resolution service called the Australian Financial Complaints Authority (AFCA).

You can get in touch with the AFCA:

  • Through their website
  • Email: info@afca.org.au
  • Telephone: 1800 931 678 (free call)
  • In writing: Australian Financial Complaints Authority, GPO Box 3, Melbourne, VIC 3001.

What credit reporting bodies does NAB use?

NAB uses information from a number of credit reporting bodies including the following, and also shares information with them:

  • Equifax
  • Illion
  • Experian

What is the minimum income for NAB Qantas Rewards Signature Card?

NAB has not specified the minimum income requirement for this credit card. However, you can be sure they will factor it in when they are verifying your application, and allocating a credit limit if your application is approved.

What are ‘everyday purchases'?

Everyday purchases are general living expenses that people regularly spend their money on. They can include:

  • Your weekly groceries;
  • Fuel expenses for your car;
  • Telephone, gas and electricity bills;
  • Water rates and council rates;
  • Theatre and movie tickets;
  • Shopping for clothes;
  • Subscriptions and memberships for internet, mobile phone plans, magazines, gym, etc.;
  • Insurance for health, life, car, home, pets.

Is this card available to temporary residents?

If you hold an acceptable Temporary Residency Visa you can apply for this card.

However, people holding the following visa categories are not eligible:

  • Visitor visa (except a Special Category Visa for NZ Citizens, which is acceptable)
  • Working holiday visa
  • Student visa
  • Exchange/gap year visa
  • Transit/short stay/seasonal/bridging visas

You can find more information about applying for a credit card on a temporary residency visa here.

The bottom line

The NAB Qantas Rewards Signature Card is best suited for applicants with a relatively high income level and high monthly spend, who are looking for a credit card that brings them maximum rewards and perks to suit a travelling lifestyle.

Before making your decision about which credit card best serves your needs, earning capacity and lifestyle, do your own due diligence by comparing cards for their fees, features, rewards and privileges.