NAB Qantas Rewards Signature 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: NAB Qantas Rewards Signature Card

NAB’s highest earning Qantas card, the NAB Qantas Rewards Signature Card provides cardholders with much more than just a great earn rate on the Qantas program. If you apply now, you can also receive up to 110,000 bonus Qantas Points, earn a reduced first year annual fee and pay 0% p.a. on balance transfers for six months. You'll also get a personal concierge service, six complimentary insurances and access to exclusive lifestyle, entertainment and travel rewards, deals and discounts through Visa Offers + Perks.

• Up to 110,000 bonus Qantas Points on a new NAB Qantas Rewards Signature Card (90,000 when you spend $3,000 within 60 days and 20,000 when you keep your card open for over 12 months).
• Reduced annual fee of $295 for the first year. This fee reverts to $395 p.a. from the second year
• 0% p.a. on balance transfers for six months
• Up to 44 days interest free on purchases
• Earn 1 Qantas Point per $1 up to $5,000 and 0.5 Qantas Points per $1 from $5,001 to $20,000 on everyday purchases
• Earn 1 additional Qantas Point per $1 on eligible Qantas products and services
• Free Qantas Frequent Flyer membership (a saving of $99.50)
• Redeem rewards in the Qantas program, including award flights, products and vouchers from the Qantas store
• 24/7 Personal Concierge
• Access to lifestyle, entertainment and travel rewards, deals and discounts with Visa Offers + Perks
• Complimentary insurance cover on eligible travel and retail purchases
• $15,000 minimum credit limit
• Balance transfer must be applied for during card application (a 2% balance transfer fee applies). Reverts to cash advance rate.
• Offer unavailable if closing/transferring from another NAB credit card account.
• 19.99% p.a. standard purchase rate
• 21.74% p.a. cash advance rate
• Points are capped at $20,000 spend per statement period.
• Interest free days only available if you pay your account in full by the due date each month. You won’t receive interest free days if you have a balance transfer.

This Card: The Lowdown

Providing premium perks and a decent points-earning potential, the NAB Qantas Rewards Signature Card is an excellent choice for cardholders who want to earn big on the Qantas frequent flyer program.

With this card, you can earn Qantas Points on everyday purchases with the opportunity to earn additional points on eligible Qantas spending. If you apply, you can also enjoy up to 110,000 bonus Qantas Points to spend as you like.

Splurging 110,000 bonus Qantas Points

Where could you go?

• You could fly Sydney to Auckland one-way six times, using 18,000 Qantas Points each time.
• You could fly Melbourne to Nadi for 20,300 Qantas Points in Economy, or 57,000 Qantas Points in Business.
• You could check out Europe, flying from Perth to Hamburg for 61,200, or from Perth to Lisbon for 65,200, or Qantas Points each way.
• You could explore the United States, flying one way from Brisbane to Seattle for 100,600 Qantas Points, Brisbane to Los Angeles or Phoenix for 41,900 Qantas Points, or Brisbane to Las Vegas for 41,900 Qantas Points each way.

As a premium card, the NAB Qantas Rewards Signature Card has plenty going for it.

• 24/7 Personal Concierge, providing assistance by booking travel, making dinner reservations, buying tickets and arranging the purchase and delivery of gifts for loved ones.
• Access to lifestyle, entertainment and travel rewards, deals and discounts through Visa Offers + Perks.

Six complimentary insurances covering eligible travel and retail purchases:

• International travel insurances cover,
• Extended warranty insurance cover,
• Purchase protection insurance cover,

Digging Deeper

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

This Card: As a Rewards Card

As this card has the highest earn rate among the trio of NAB Qantas Frequent Flyer linked credit cards, it offers you the best opportunity to earn big on everyday spending when you choose to bank with NAB.

• Earn 1 Qantas Point per $1 up to $5,000 on everyday purchases,
• Earn 0.5 Qantas Points per $1 from $5,001 to $20,000 on everyday purchases,
• Earn 1 additional Qantas Point per $1 on eligible Qantas products and services.

Because there is a points cap in place, with points being earned on a tiered system, this card may not be suitable for everyone. However, it is worth noting that there is no points expiry on this card, so you can keep saving the points you earn until you find something you really want to spend them on.

If you are new to the Qantas program, you will receive free Qantas Frequent Flyer membership when you sign up for this card, giving you a saving of $99.50. You may also choose to add an additional cardholder to the account – at no extra cost – to help you earn points faster.

What about those additional bonus points? When using your card for certain purchases, you can earn 1 additional bonus point per $1 spent. These additional bonus points will be applied to card transactions on the following:

• Qantas flights booked directly through qantas.com and Qantas Contact Centres
• Qantas flights booked through selected travel agents but processed with Qantas Airlines
• purchases of Qantas Frequent Flyer membership
• purchases of Qantas Club membership, joining and annual fees
• purchases of Qantas Gift Vouchers
• purchases made through qantasstore.com.au, qantasshop.com.au and qantasepiqure.com.au.

As for the 110,000 bonus Qantas Points, there is some small print to take into account. To be eligible for the 110,000 bonus points offer, you must apply, and be approved. You will earn 90,000 bonus points when you spend $3,000 on everyday purchases in the first 60 days of account opening which will be credited to your points balance within 3 months of meeting the spend criteria. Plus, you will receive an additional 20,000 points when you keep your card open for over 12 months*.

In this case, everyday purchases do not include gambling or gaming purchases. In addition, to be eligible, you cannot be an existing customer who has received NAB Qantas Rewards Bonus Points for a new personal NAB Qantas Rewards credit card in the past twelve months.

And redeeming your points? Points can be redeemed for travel on a Classic Flight Reward or Points Plus Pay Flight, or on an upgrade using Classic Upgrade Rewards or Bid Now Upgrades.

You could also choose to pay for Qantas Club Membership, to book car hire or accommodation with Qantas Hotels, to shop for premium wines and gourmet food with Qantas epiQure or invest in extra protection with Qantas Insurance.

Or, if you prefer a little retail therapy, you could head to the Qantas Store.

• Retail Gift Cards: $100 David Jones gift card for 19,010 Qantas Points, $50 Bonds gift card for 9,530 Qantas Points, or $50 Dymocks gift card for 9,530 Qantas Points.
• Magazine Gift Cards: a 12 month subscription to Vogue Australia for 13,900 Qantas Points, to The Big Issue for 31,300 Qantas Points or to Healthy Food Guide for 10,260 Qantas Points.
• Experience Gift Cards: Hot Air Ballooning in Melbourne's Yarra Valley for 73,040 points or a Shark Dive in Melbourne Aquarium for two for 104,000 points.
• Travel Gift Cards: $250 Accor gift card for 47,450 Qantas Points, $100 Jetstar Flight Voucher for 19,010 Qantas Points or a $100 Qantas Cruises Voucher for 25,250 Qantas Points.

This Card: As a Premium Card

There is one main reason for choosing a premium card such as the NAB Qantas Rewards Signature Card and that’s its perks. After all, you’re not likely to fork out $395 in annual fees each year if you’re not getting extras in return. For a limited time pay $295 annual card fee for your first year, then $395 p.a. from the second year. Aside from its rewards program, this card provides cardholders with the following features.

Personal Concierge Service

As a cardholder, you will have access to the NAB Concierge Service which NAB describes as a complete travel and lifestyle service, offered 24 hours a day, seven days a week. Acting in much the same way as a personal assistant, NAB’s personal concierge can assist with all manner of services.

In terms of travel services, the NAB Concierge Service can help you plan out your entire trip, assisting in the booking of all your flights and accommodation. If anything goes awry while you are on your trip, your concierge can help organise medical or legal services, even offering emergency interpretation assistance when needed.

As for everyday services, your concierge can offer assistance by finding, booking and delivering tickets for live music, sports and shows; organising car and limousine rentals; arranging flower delivery; making reservations at health clubs, golf clubs and hotels, or helping with restaurant recommendations and bookings.

Complimentary Insurance Cover

Similar to many other premium credit cards, the NAB Qantas Rewards Signature Card offers a range of complimentary insurances to its cardholders. These include:

• International travel insurance cover for trips up to 6 months
• Extended warranty insurance cover
• Purchase protection insurance cover

As with any type of cover, it’s important to check the small print before relying on any insurance offered on a credit card. For example, to be eligible for:

• International travel insurance cover, you must use your card to purchase at least $500 of your pre-booked transport costs (such as your airfares or cruise) and land content (such as accommodation, tours or car rental) before your trip.

As for the card’s insurance covering retail purchases:

• The extended warranty insurance offers cover for a further 12 months on the period of a manufacturer’s expressed original warranty, provided that the original warranty period is not greater than five years.
• Purchase protection insurance offers cover for new personal items purchased on the card, covering against loss, theft or accidental damage anywhere in the world for three months from the date of purchase.

Be sure to read the insurance policy document carefully for more information on the cover provided as well as eligibility requirements and how to make a claim.

This Card: The Essentials

Just as you should always find out more about any insurance cover on offer, you should also check the small print for all need-to-know info on the card itself. With the NAB Qantas Rewards Signature Card, that starts with the $395 annual fee. As this is a fairly significant outgoing, you should work out whether you are getting more back in rewards and extras than you pay out in that annual fee.

As we mentioned previously, to be eligible for the 90,000 bonus points, you must spend $3,000 on the card within 60 days of card approval. The additional 20,000 points will be added to your account when you keep your card open for over 12 months*. If you plan on spending that amount on your card anyway, it shouldn’t be an issue. However, if you spend more than you can pay back just to get those points in your pocket, then that's something to worry about.

In terms of interest, the card has a standard variable interest rate of 19.99% p.a. on purchases and 21.74% p.a. on cash advances. That means, to make all the rewards and extras on offer worthwhile, you must clear your balance each statement period before interest starts accruing. Also be aware that any balance transfers left unpaid after the intro period ends will attract the higher cash advance rate.

To be eligible for the card, you must be 18 or over and an Australian citizen or permanent resident. If you are not a citizen or permanent resident, you will need to provide the last overseas address you lived in as well as other details of your residency status.

Decision Time

If you don’t mind spending $3,000 on your card within 60 days and keeping your card for over 12 months, then the NAB Qantas Rewards Signature Card is a fantastic way to earn up to 110,000 bonus Qantas Points. It also comes with a reduced annual fee for the first year, a decent earn rate and prestige perks such as complimentary insurance cover, a 24/7 concierge service and access to Visa Offers + Perks.