The NAB Qantas Rewards Credit Card
A great little everyday earner, the NAB Qantas Rewards Credit Card lets you earn Qantas Points as you shop, with complimentary Qantas Frequent Flyer membership thrown in as well. On top of that, you can enjoy 0% p.a. on balance transfers for six months, complimentary purchase protection insurance, access to Visa Entertainment, and a relatively low annual fee.
What we love...
For the most part, when talking about the bits we love most about a credit card, we look at introductory offers first. With the NAB Qantas Rewards Credit Card, that means its balance transfer offer. As a new cardholder, you can pay down existing credit card debt faster, by making the most of the 0% p.a. on balance transfers for six months.
But of course, the NAB Qantas Rewards Credit Card is much more than a balance transfer offer. It is a rewards card, first and foremost. With this card in your hand, you can earn 0.5 Qantas Points per $1 spent on everyday purchases, which can then be redeemed within the Qantas Frequent Flyer program on flights and travel, or in the Qantas Store.
If you’re not a Qantas Frequent Flyer member already, the NAB Qantas Rewards Credit Card will provide you with membership, free of charge, saving you $89.50. It is worth pointing out though, that when using the card, the points you earn will be capped, so you will only earn points on the first $3,000 you spend on the card each statement period.
With that in mind, let’s talk about the card’s annual fee next. To work out whether an annual fee is reasonable, you need to consider the value it provides. If you spend up to the $3,000 cap each month on your card, you could earn a maximum of 18,000 Qantas Points in a year. To put that into perspective, you could fly from Sydney to Alice Springs, to Nadi, or to Auckland for 18,000 Qantas Points.
Alternatively, you could opt for a little retail therapy. In terms of gift cards, you can expect to redeem 19,650 Qantas Points for a $100 Woolworths gift card, 21,970 Qantas Points for a $100 Westfield gift card, or 16,530 Qantas Points for a $100 David Jones gift card. (Points correct as of 25 June 2018)
What’s not so great...
Now it’s time to look a little closer at that balance transfer offer. To take advantage of the offer, you will pay a 2% balance transfer fee, calculated as a percentage of the total transferred balance. Any transferred balance left unpaid after six months will revert to the card’s cash advance rate, which is certainly not low.
In general, the NAB Qantas Rewards Credit Card has a relatively high rate of interest on both purchases and cash advances. But, you can avoid interest accruing by clearing any transferred balance within six months, by avoiding cash advances, and by clearing the balance month-to-month, each statement period.
It’s also worth pointing out that not all cardholders will be happy with a $3,000 monthly spending cap on points-earning, or the card’s earn rate. Again, you need to weigh up what the card has to offer for the amount you pay out in fees, to work out whether it offers value to you.
Why should you choose this card?
If you’re looking for an everyday rewards card that lets you earn Qantas Points on your purchases, the NAB Qantas Rewards Credit Card could be the perfect choice. You will pay an affordable annual fee, and you could earn points faster by adding an additional cardholder at no extra cost.
You can also benefit from access to special offers on shows, events, experiences and movies with Visa Entertainment, while taking advantage of complimentary purchase protection insurance, offering cover on new personal items bought on your card, if they are lost, stolen or accidentally damaged within 90 days of the date of purchase.
An everyday earner, the NAB Qantas Rewards Credit Card lets you earn Qantas Points, while benefiting from 0% p.a. on balance transfers for six months, complimentary purchase protection insurance, Qantas Frequent Flyer membership and access to Visa Entertainment.