NAB Qantas Rewards Card – Rates and Fees

Information verified correct on September 27th, 2016
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Get 10,000 bonus Qantas Points if you apply before 2 October 2016, 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 2 October 2016, you stand to receive 10,000 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 2% balance transfer fee
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Purchase Rate (19.99% 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 date2 October 2016
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.
Minimum Monthly Repayment2%
Card TypeAmerican Express/MasterCard
Late Payment Fee$9
Foreign Currency Conversion Fee (MC)3% of transaction value
Foreign Currency Conversion Fee (AMEX)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.
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.
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)3% of transaction value
Foreign Currency Conversion Fee (AMEX)3% of transaction value
Gambling Transactions AllowedYes
Gambling Transactions Interest RateCash Advance Fee
Additional Cardholder Fee$0 p.a.
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
  • 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 10,000 bonus Qantas Points on eligible spend.
  • An additional cardholder fee applies for only $0.
  • 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-up10,000
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 2 October 2016, you can earn as many as 10,000 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 2 October 2016.
    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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Rates last updated September 27th, 2016
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