Point Hacks Credit Card Guide

NAB Qantas Premium American Express & Visa Guide

The NAB Qantas Premium joint American Express and Visa account comes with a $250 annual fee and offers 1 Qantas point per $ earn rate on the American Express.

This guide also covers the NAB Qantas Classic account – a sub $100 annual fee Amex and Visa combo aimed at lighter spenders.

Changes to the NAB Qantas credit cards from July 1st

Due to legislative changes relating to the costs incurred by retailers for accepting credit cards (more on this here) some banks have made changes to the features of their credit cards. NAB recently announced their changes, which we have outlined in more detail in an update here, if you apply for these cards between now and then, you’ll have two sets of points earn rates – those in place now, plus those in place from that date onward as outlined in this guide.

In summary, NAB have:

  • Lowered earn rates on companion American Express accounts
  • Lowered points cap across all Qantas and Velocity point earning cards
  • Retained existing earn rates across all companion Visa accounts
  • Lowered earn rates on Visa Business Cards

Digging into the details of NAB’s Qantas Frequent Flyer credit cards

The NAB Qantas card range has a Premium and a standard account, with the Premium card coming in at an annual fee of $250, and the standard card at $95.

The Premium card is handy for it’s good 1 Qantas Points per dollar earn rate on the American Express.

Card Details

CardNAB Qantas Premium American Express & Visa
Loyalty programQantas Frequent Flyer
Points earned from spend1 Qantas Points per $ on the Amex, 0.5 Qantas Points per $ on the Visa
Points cap$5,000 per statement period
Earns points at ATONo
Insurance includedSeven complimentary insurances including overseas travel insurance and purchase protection
Overseas transaction fee3% of the converted amount
Annual fee$250

The NAB Qantas Premium account offers 1 Qantas points per $ on spend on the Amex, and 0.5 points per $ on spend on the Visa.

You’ll also get access to a wide range of insurances with the Premium card, which may or may not be of use – one to look into with your own specific circumstances in mind. The insurances included are below, with the full PDS for them here.

  • Overseas Travel Insurance
  • Price Protection Insurance
  • Interstate Flight Insurance
  • Transport Accident Insurance
  • Domestic Hotel Burglary Insurance

This guide references some of the benefits of insurance policies provided with this credit card.

You should read the PDS and obtain independent professional advice before obtaining this product.

The American Express earn rate is decent in comparison to other cards in the market, but there are stand alone Amex cards out there that have higher earn rates on spend.

It maybe worth considering if you plan to put significant spend on the Amex, just keep in mind that the points-earning cap is $5,000 per statement period on this account (effective July 1st 2017).

Card Details

CardNAB Qantas American Express & Visa
Loyalty programQantas Frequent Flyer
Points earned from spend0.75 Qantas point per $ on the Amex, 0.5 points per $ on the Visa
Points cap$3,000 per statement period
Earns points at ATONo
Insurance includedPurchase protection
Overseas transaction fee3% of the converted amount
Annual fee$95

The NAB Qantas Classic account annual fee is $95. You’ll also get some purchase protection insurance with this card, a 0.75 point per $ earn rate on spend on the American Express, and 0.5 points per $ on the Visa. Read the Purchase Protection PDS here.

This guide references some of the benefits of insurance policies provided with this credit card.

You should read the PDS and obtain independent professional advice before obtaining this product.

There aren’t any other benefits, but for a sub $100 annual fee combined account, that’s to be expected.

Summing up – NAB Qantas Classic and Premium American Express & Visa / Mastercard accounts

The recently announced changes means that you can probably find better Qantas Point earn rates from standalone Amex or MasterCard / Visa options with higher points cap out there. However, these can be handy cards to know if you want the convenience of a dual card combination with one account to manage.

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Point Hacks Credit Card Information

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Comments Expand Comments

  1. Louise

    I’m not sure where the points capping information was obtained from as NAB don’t seem to make this information easy to find. Does anyone have any details on this they could share?

  2. Nealos

    Is NAB still honouring its offer of 75k when you spend $1500? I’ve recently looked at its website and now they have changed their offer to a bonus of 25k when you make an everyday transaction?
    I purely signed up for the 75k offer and it would be disappointing if this has now changed!

    • Keith Author

      Sorry for the delayed reply – yes, this offer is still running. It may not be promoted on NAB’s website though, sometimes they give promotional partners (like us) better offers than they promote themselves.

  3. Stephen Dacey

    The only issue I have with the above cards are the 3% overseas purchase transaction fee. I have a Bankwest Qantas Platinum Mastercard. Whilst they have just dropped the points earn to 0.5 points per $1 spend, this card is great for online purchases AND for purchases overseas. Zero overseas transaction fees with this card, which can add up to a lot when OS. All depends what is important to you, points earned or costs against your spend. For the moment I am staying where I am unless there is something better that comes along.

  4. Andrew

    Any idea how long it takes for the 60,000 bonus points to be credited. They conditions say up to 4 months but with other banks it’s usually much quicker than that. I’ve had the NAB cards for nearly the full 4 months and no points yet.

  5. Mark

    Do you have any thoughts on how long to wait after cancelled a NAB Velocity card and applying for the NAB Qantas card with the 60k bonus points? It’s been a month or two already and I am very tempted to apply but read the following in the terms so a bit nervous!
    Offer only available to new approved NAB credit card customers who apply by 30 April 2016. Offer is not available when closing/transferring from another NAB credit card account or in conjunction with any other NAB offer. Terms, conditions, fees, charges and lending criteria apply.

    • Keith Author

      Hi Mark – NAB don’t publish their requirements but I believe it is either 4 or 6 months. They will normally tell you if you call up and ask to check.

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