Bendigo Bank Qantas Platinum 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.

The Big Review: Bendigo Bank Qantas Platinum Credit Card

A relative newcomer to the rewards card scene, the Bendigo Bank Qantas Platinum Credit Card launched in August 2017 to join Bendigo Bank’s already impressive line-up. Allowing cardholders to earn 0.6 Qantas Points per $1 spent, this card also offers complimentary Qantas Frequent Flyer membership, plus a full suite of complimentary insurance covers and access to Mastercard Priceless Cities – all for an affordable annual fee, with no annual fees for additional cardholders.

• Earn 0.6 Qantas Points per $1
• Complimentary Qantas Frequent Flyer membership
• Complimentary comprehensive travel insurance
• Extended warranty on purchases
• 90 day purchase protection on lost, stolen or damaged purchases
• Best price guarantee
• Access to Mastercard Priceless Cities
• Up to 55 days interest free on purchases
• 0% p.a. balance transfer for 6 months. No balance transfer fee. Purchase interest rate of 19.99% p.a. applies thereafter.
• No annual fees for additional cardholders
• Annual fee of $149
• Purchase rate at 19.99% p.a. (variable)
• Cash advance rate at 21.99% p.a. (variable)
• Minimum credit limit: $3,000

This Card: The Lowdown

With a decent earn rate and a relatively low annual fee, this could be the perfect card for anyone who wants to earn Qantas Points on everyday spending. Cardholders can benefit from complimentary Qantas Frequent Flyer membership, saving them $99.50, while also taking advantage of the card’s full suite of complimentary insurances.

It must be said that as a platinum card, the Bendigo Bank Qantas Platinum Credit Card is not exactly overwhelmed with platinum perks, but with its lower annual fee, you have to weigh up what’s on offer against what you’re paying out.

Digging Deeper

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

This Card: As a Rewards Card

Letting you earn Qantas Points on your day-to-day purchases, the Bendigo Bank Qantas Platinum Credit Card has the potential to provide value on your credit card spending.

Everyday Earning

If you have spent time comparing earn rates on credit cards, you may have noticed the opportunity to earn big on everyday spending is perhaps not quite as easy as it once was. If you want a card that will reward the spending you do most, be sure to check the earn rate and the points cap, and weigh that against the amount you are paying out in annual fees.

With the Bendigo Bank Qantas Platinum Credit Card, the annual fee is relatively low for a platinum Qantas card. It also offers a pretty decent earn rate, providing 0.6 Qantas Points per $1 spent on the card, capped at 20,000 points per month.

It’s worth remembering that not all credit card spending attracts points. Spending ineligible for points collection includes BPAY transactions, cash advances, payments to the Australian Taxation Office, balance transfers, and transactions for gambling or gaming purposes.

Points earned are transferred automatically to the cardholder’s Qantas Frequent Flyer account. So, it only makes sense that to earn Qantas Points on this card, you need to be a Qantas Frequent Flyer member. Luckily, the Bendigo Bank Qantas Platinum Credit Card provides complimentary Qantas Frequent Flyer membership to cardholders – all you need to do is apply using the bank’s link.

Another feature we like on the Bendigo Bank Qantas Platinum Credit Card is the fact that there is no annual fee for additional cardholders. That means you can add family members as additional cardholders for no extra charge, and their spending will earn Qantas Points that will be added to your Qantas Frequent Flyer account.

This Card: Extras on Offer

When working out the true value of a credit card, it’s important to look at all the features on offer – and then think about whether they are of value to you.

Complimentary Insurance Cover

Offering cardholders “complimentary” insurance cover is common on platinum credit cards, but it’s always important to check the PDS before relying on the insurance provided. The Bendigo Bank Qantas Platinum Credit Card offers a full suite of comprehensive insurance covers, including:

• Overseas Travel Insurance
• Transit Accident Insurance
• Global Hire Car Excess Waiver Cover
• Domestic Flight Inconvenience Insurance
• Purchase Protection Insurance
• Extended Warranty Insurance
• Best Price Guarantee

To activate the overseas travel insurance, you must use your card to pay for the total value of your return overseas travel ticket, before taking the trip. Note, the use of Qantas Points to pay for travel does not activate cover. Your spouse and dependents can also be covered, as long as they travel with you for the entire journey, and your card was used to pay for their trip.

It’s worth pointing out that each trip must not exceed 90 consecutive days, and cover is limited to a maximum of 180 days during any 12 month period. In terms of cover limits, it offers unlimited medical cover; baggage, documents and money cover up to $15,000; and personal liability cover up to $2,500,000.

As a cardholder, you can also benefit from Global Hire Car Excess Waiver Cover up to a maximum total limit of $5,000, subject to an excess of $250. This can offer peace of mind when hiring a car, while also allowing you to save money on the car hire company’s own (often expensive) excess waiver.

In terms of retail cover, you can take advantage of the card’s 90-day purchase protection insurance against theft, loss or damage for eligible items you buy with this card. You can also enjoy extended warranty cover for up to 12 months on eligible purchases, plus a best price guarantee, which offers a refund on the price difference when you purchase an eligible item, and then see it for less within 30 days.

To find out more, take some time to refer to the Bendigo Bank Qantas Platinum Insurance document on the bank’s website for full details.

Mastercard Extras

As a cardholder, you can enjoy access to Mastercard Priceless Cities. All you need to do to take advantage of this is visit the priceless.com website, sign up, and check out the huge range of entertainment, dining, travel and other lifestyle experiences available. Past experiences have allowed cardholders to:

• Go on an insider tour of New York City’s theatre district with a star actor,
• Explore the Duomo of Milan, behind closed doors,
• Make the Dubai desert into a playground with a private safari,
• Take a cooking workshop with a top Miami chef at Wynwood Yard.

Mobile Payment Technology

If you have a Samsung smartphone or wearable, you can link your device to your Bendigo Bank Qantas Platinum Credit Card to enjoy the convenience of contactless payments using Samsung Pay.

Interest Free Purchases

Like many credit cards, the Bendigo Bank Qantas Platinum Credit Card provides up to 55 days interest free on purchases. Allowing cardholders some extra breathing space before interest starts accruing, this feature can be used to save on interest when using the card day to day, or even when making larger purchases.

This Card: The Essentials

Now you know what the Bendigo Bank Qantas Platinum Credit Card has to offer, it’s time to look at how much it will cost you to keep in your wallet. In terms of annual fees, the Bendigo Bank Qantas Platinum Credit Card is fairly reasonable for a platinum card, charging $149 per year, with no annual fee for additional cardholders.

Currently, it offers 0% p.a. for 6 months on balance transfers with no balance transfer fee. At the end of 6 months from account opening, the rate reverts to the standard retail purchase interest rate of 19.99% which is pretty high so it’s advisable to clear your balance before the offer expires.

As for interest, that is definitely worth paying attention to. Both the purchase rate and the cash advance rate are pretty high, so this is not a card you want to carry a balance on month-to-month. With a cash advance fee of $3.25 or 0.5% of the transaction amount – plus zero interest free days on withdrawals – cash advances should be avoided whenever possible.

Another fee to be aware of when using the Bendigo Bank Qantas Platinum Credit Card is the international transaction fee. If you tend to shop online at overseas retailers – or you plan on taking the card overseas – know that there is a 3% fee charged for each transaction made in any currency other than Australian dollars.

In terms of eligibility, you must be 18 years or older to apply, and you must be an Australian citizen or permanent resident. It’s also worth noting that the minimum credit limit on this card is $3,000, which is actually quite low for a platinum card.

To apply for the Bendigo Bank Qantas Platinum Credit Card, you’ll need a valid form of identification, such as your driver’s licence or passport, plus you’ll need employment information, detailing your employment status, role, employer’s details and salary. On top of that, you’ll have to provide financial details, such as bills, grocery spending and any loans or debts.

Decision Time

While it may not offer an abundance of features, the Bendigo Bank Qantas Platinum Credit Card could be a great option for cardholders who want to earn Qantas Points on everyday spending. The card offers a decent earn rate, plus some very useable features, such as complimentary insurance cover and Qantas Frequent Flyer membership.