Qantas American Express Premium Credit Card

Pauline Hatch

Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Ask Pauline a Question about this card.

Point calculations are accurate as of 27 March 2024 but may be subject to change without notice. All routes may have additional taxes and charges. Check on the official American Express page for the updated calculations.

While its 20,000 bonus Qantas Points offer is certainly appealing, there is much more to like about the Qantas American Express Premium Credit Card than just its introductory offer. With an enticing earn rate and no points cap in place, this rewards card provides plenty of opportunity to earn big on the Qantas program. Of course, it wouldn’t be an AmEx without features and extras. Some of the more memorable of these include Qantas Wine Premium Membership, two Qantas Club Lounge passes each year, and a full suite of insurance covers.

• Receive 20,000 bonus Qantas Points when you apply online, are approved and spend $3,000 using your Card within the first 3 months. New American Express Card Members only.
• Earn 1 Qantas Point 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
• Earn 1 additional Qantas Point per $1 spent on eligible Qantas purchases
• No cap on points earned
• NEW FEATURE: Plan It™ Instalments offers you a flexible way to pay off your Credit Card balance in equal monthly instalments, with 0% p.a. interest and a fixed monthly fee
• Complimentary insurance covering travel (including limited cover related to COVID-19, T&Cs apply) and retail purchases
• Two complimentary Qantas Club lounge invitations each year (after eligible Qantas spend)
• Qantas Wine Premium Membership
• To be eligible for the bonus points offer, you must apply online, be approved and spend $3,000 on your new card within the first three months. This offer is available to new cardholders, as well as bank-issued American Express companion cardholders.
• Annual fee: $249
• Interest Rate on purchases: 23.99% p.a.
• Interest Free Period: Up to 44 days

This Card: The Lowdown

With its fairly sizeable annual fee, the Qantas American Express Premium Credit Card would suit big spenders and those who love to travel. As it has no points cap in place and a higher points earn on selected Qantas travel purchases, this card would provide a great opportunity for cardholders who are frequent Qantas travellers – and those who have a large monthly spend – to earn big rewards.

Recognised for its enticing extras, American Express doesn’t disappoint with this card. Aside from its 20,000 bonus Qantas Points offer, cardholders can benefit from alluring travel benefits, including lounge access and these complimentary insurance covers:

• Medical Emergency Expenses Cover
• Personal Accident Cover
• Trip Cancellation and Amendment Cover
• Travel Inconvenience Cover
• Personal Baggage, Valuables, Money and Travel Documents Cover

Digging Deeper

With the basics covered, it’s time to dig a little deeper into what’s on offer with the Qantas American Express Premium Credit Card, so you can decide whether this card is right for you.

This Card: As a Rewards Card

One of the things most people look at first when comparing credit cards online is the introductory offer. Headlining the Qantas American Express Premium Credit Card is its bonus points offer, providing 20,000 bonus Qantas Points to new cardholders who apply online, are approved, and who spend $3,000 on their card within three months of card approval.

What does 20,000 Qantas Points mean to you? You could fly return from Sydney to Melbourne in economy for 16,000 Qantas Points or one-way economy class from Brisbane to Adelaide for 12,000 Qantas Points (plus taxes, fees and carrier charges).

To be eligible for those bonus points though, you must be a new cardholder. While you may currently hold a bank-issued American Express companion card, you cannot currently have an American Express card in your name, or have held one in your name in the past 18 months.

In terms of eligible purchases making up that $3,000 minimum spend, most card spending is eligible, apart from cash advances, interest, balance transfers, fees and charges for traveller’s cheques and foreign currencies. For a full list, check out the AmEx website. After you have met the minimum spend criteria, the points will be credited to your Qantas account within 8-10 weeks.

Everyday Earning

Offering an enviable earn rate, the Qantas American Express Premium Credit Card is an excellent choice for cardholders looking to earn rewards on the Qantas program. While certain other cards offer higher earning power on fuel and in supermarkets, this card has an appealing base earn rate that may work better for some cardholders, depending on the way in which they use their card.

• Earn 2 Qantas Points on every $1 spent on selected Qantas products and services in Australia
• Earn 1 Qantas Point on every $1 on all other spending (except at government bodies)
• Earn 0.5 Qantas Point on every $1 on government spending in Australia (including the ATO and Australia Post)

Perhaps one of the most attractive features of the Qantas American Express Premium Credit Card is its lack of points cap. As there is no points cap in place, no matter how much you spend, your earn rate will remain the same – unlike certain other rewards cards that reduce the earn rate or cut points earning once the cardholder has reached a certain spending limit.

To earn Qantas Points on this card, you must be a Qantas Frequent Flyer member. That means, if you haven’t already joined, you may have to pay the membership fee to join before you can start accruing Points. When spending on the card, the Qantas Points you earn will be automatically transferred to your Qantas Frequent Flyer account each month.

As for the card’s higher points-earning potential on Qantas spending, purchases eligible for the 2 Qantas Points per $1 include Qantas flights with a QF flight number that are purchased direct from Qantas and some travel agents, and Qantas Frequent Flyer and Qantas Club membership joining and annual fees. Purchases from Jetstar, Qantas Holidays and Qantas branded non-airfare products are excluded.

A nice new feature on the Qantas American Express Premium Credit Card provides cardholders complimentary Qantas Wine Premium Membership. When using the card to pay for Qantas Wine purchases, you will earn 3 Qantas Points per $1 spent, in addition to the 1 Qantas Points per $1 spent that you earn for spending on eligible purchases on your card.

Another agreeable feature is its additional cardholder fee: you can add up to four additional cardholders to the account for $0 each. With more people using their cards day-to-day, this allows you to rack up Points faster, while paying no additional annual fees.

This Card: As a Travel Rewards Card

A handy addition to any traveller’s wallet, the Qantas American Express Premium Credit Card offers several travel-related features.

Lounge Access

Offering two complimentary Qantas Club lounge invitations each year, the Qantas American Express Premium Credit Card can make time spent in the airport somewhat more enjoyable. All you need to do is use your card to make selected Qantas purchases, and you will receive two passes on anniversary of card membership each year.

Similar to the higher points-earn mentioned above, eligible purchases include Qantas flights with a QF flight number purchased direct from Qantas and some travel agents, and Qantas Frequent Flyer and Qantas Club membership joining and annual fees.

Each pass is valid for a single visit by one guest, and will be assigned to your Qantas Frequent Flyer account for use within the year. Passes can be used at any domestic Qantas Club in Australia, or for international Qantas Business Class lounges such as those in Sydney, Melbourne, Hong Kong, or Singapore. They are not valid in Qantas International First Class Lounges, the Qantas Chairman’s Lounge, Qantas Domestic Business, or oneworld alliance partner or associated lounges.

Insurance Cover

Another handy feature for frequent travellers, the Qantas American Express Premium Credit Card offers a range of complimentary insurance covers. When you pay for travel with your card, you and your family may benefit from the following cover:

• Medical Emergency Expenses Cover
• Personal Accident Cover
• Trip Cancellation and Amendment Cover
• Personal Baggage, Valuables, Money and Travel Documents Cover
• Travel Inconvenience Cover

While it’s always best to check the PDS before you rely on credit card insurance, it is worth noting that this card offers cover on trips of up to 62 days, up to a maximum of 120 total travel days per year. That is a marked step up from what’s on offer from other credit card complimentary insurance cover periods.

This Card: Extras on Offer

In terms of extras, the Qantas American Express Premium Credit Card offers cardholders the opportunity to save on interest with up to 44 days interest free on purchases, alongside Qantas Wine Premium Membership and AmEx service and support.

Interest Free Days

If you want to save money on interest as you shop, you could take advantage of up to 44 days interest free on purchases. Only available when you pay the full closing balance by the due date each month. The total number of interest free days you enjoy depends on date of purchase and when your statement is issued.

Everyday Service & Protection

If there is one thing American Express is known for – aside from its exceptional range of features – it is its customer service and support. With the Qantas American Express Premium Credit Card in your wallet, you can enjoy the following features:

• Card Refund Cover. AmEx will credit your account if you're refused a refund on an unused eligible item within 90 days of purchase
• Card Purchase Cover. AmEx will repair or refund eligible items if they are accidentally broken or stolen within 90 days of purchase
• Online Fraud Protection Guarantee. AmEx ensures you won't be held responsible for any unauthorised charges online as long as you notify them immediately upon discovery of the fraudulent transactions
• Emergency Card Replacement. With its global network of offices, AmEx will usually get a replacement card to you within 48 hours virtually anywhere in the world
• Plan It™ Instalments offers you a flexible way to pay off your Credit Card balance
• Tech Compatibility. This card is eligible for use with Apple Pay, Samsung Pay and Google Pay

Qantas Wine Premium Membership

As a new feature on the card, the Qantas American Express Premium Credit Card now offers cardholders complimentary Qantas Wine Premium Membership. Providing members exclusive access to food and wine events around Australia, membership also allows cardholders to sample a wide range of gourmet food and beautiful wines, with free delivery available within Australia.

Saving you $99 per year, this membership will remain free to cardholders as long as they have the card. Providing the opportunity for you to really rack up the points, you will earn a total of 4 points per $1 spent on Qantas Wine products (3 points as an Qantas Wine Premium member plus 1 points for regular spend on the card).

This Card: The Essentials

In terms of interest, the Qantas American Express Premium Credit Card has a relatively high rate of interest on purchases (there is no cash advance feature), so it would work best for cardholders who clear their balance month-to-month. While the annual fee is significant, there is $0 annual fee for up to four additional cardholders.

As for eligibility, the Qantas American Express Premium Credit Card requires cardholders to be 18 years or over, and no history of bad debt or payment default. To be eligible, cardholders must also be an Australian citizen or permanent resident, or hold a long term visa. Long term means at least 12 months and does not include student visas.

Decision Time

Providing a wide range of features and a good base earn rate on the Qantas program, the Qantas American Express Premium Credit Card is a great option for frequent travellers and big spenders. With a competitive annual fee within the market, American Express takes the sting away – for the first year at least – with its 20,000 bonus Qantas Points.