NAB - Qantas Rewards Premium Credit Card
The NAB Qantas Rewards Premium Card has an introductory balance transfer interest rate of 0% for 12 months, with a 3% balance transfer fee. The rate reverts to 21.74% p.a. after the 12 months.
For every $1.50 spent, 1 Qantas Point is earned. Beyond $3000 and up to $6000, 1 Qantas Point is earned for every $3 spent. Points are capped at $6000 spend per statement period.
70,000 bonus Qantas Points on a new NAB Qantas Rewards Premium Card when $2,000 is spent in the first 60 days.
Annual Fee
$195 for the first year reverts to $295 per year thereafter
Balance Transfer
0% for 12 months reverts to 21.74% p.a.
3% BT fee applies.
3% BT fee applies.
Purchase Rate
20.99% p.a.
Rewards Rate One
1 point(s) per AUD$1.50 On everyday purchases
Details
Card Type
Visa
Minimum Repayment
2% or $25
per statement, whichever is greater
Interest Free Period
up to 44
days
Minimum Credit Limit
$6,000
Fees
Annual Fee
$195 for the first year
reverts to $295 per year thereafter
Late Payment Fee
$15
per statement
Cash Advance Fee
3% or $3
per transaction, whichever is greater
Additional Card Holder Fee
$0
Additional Card Holder Cap
up to 1
additional holders
Rates
Purchase Rate
20.99% p.a.
Cash Advance Rate
21.74% p.a.
Balance Transfer
Balance Transfer
0% for 12 months
reverts to 21.74% p.a.
3% BT fee applies.
3% BT fee applies.
Balance Transfer Fee
3%
per transaction
Overseas Spending
Foreign Currency Conversion Fee
3%
per transaction
Overseas ATM Withdrawal Fee
$5
per transaction
Eligibility
Minimum Age
18
years old
Temporary Residents
Yes
Rewards
Program
Qantas Frequent Flyer
Types
Flights, Qantas Products, Vouchers
Bonus
70,000 bonus points
Reward Rates
Rewards Rate One
1 point(s) per AUD$1.50
On everyday purchases
Rewards Rate Two
1 point(s) per AUD$3
On everyday purchases
Perks
Complimentary Travel Insurance
Yes
Airport Lounge Access
No
Who is the product designed for?
These customers are likely to have the following objectives, needs and financial situation for this product:
Objectives and Needs
- A person that wants a credit card to cover the cost of everyday or large household purchases and to flexibly manage their monthly spending.
- A person that wants to make the most out of their purchases by earning Qantas rewards points which can be redeemed for award flights, products, and vouchers from the Qantas store.
- A person that wants access to complimentary travel and purchase insurances.
Financial Situation
- A person that is likely to transact and make purchases using the card at a rate to earn rewards points
- A person that is willing to pay a higher annual fee and higher interest rate to access:
- Qantas Rewards points
- Free Qantas Frequent Flyer membership
- complimentary insurances
- A person that requires a minimum credit amount of at least $6,000
- A person that is not likely to carry a substantial balance over an extended period
- A person that has access to sufficient income to satisfy NAB’s credit assessment requirements and to meet the following payments:
- minimum monthly repayments
- higher annual fee
- higher interest rate.
- A person that wants to manage and reduce the interest on their card.
Visit NAB to view Target Market Determination Effective From: 2024-09-13.
