Point Hacks Credit Card Guide

Qudos Bank cuts Qantas Point earn rate on Platinum Visa Card, adds points cap and removes ATO earn

Qudos Bank Visa Platinum

The Qudos Bank Platinum Visa is a useful Visa for uncapped 1 Qantas point per $ earn from spend and 2 Qantas Points per $ spent with Qantas.

  • No bonus Qantas Points on offer right now
  • Complimentary Overseas Travel insurance cover (PDS)
  • 2 Qantas Points per $ spent with Qantas, and 1 Qantas point per $ on all other spend (capped at $2,500 per month starting 1st December 2016, 0.5 point per $ thereafter up to $200,000 per year)
  • 4.99% pa on balance transfers and purchases for 5 months
  • $249 annual fee

Find out more or apply →

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Qudos Bank has announced they are set to make changes to their Qantas Point earning Platinum Visa Card, with a soft points cap being added, exclusion of payments to the ATO and an increase in annual fee set to take effect starting 1st December 2016.

The points earn rate remains at 1 Qantas point per $ capped at $2,500 per month, with 0.5 Qantas Point earned per $ thereafter up to $200,000 per year.

This card is the re-branded Qantas Credit Union Platinum Visa – Qantas Credit Union rebranded to Qudos bank earlier in 2016.

Card Details

CardQudos Bank Platinum Visa
Loyalty ProgramQantas Frequent Flyer
Points Earned from spend1 Qantas Point per $ on regular spend, 2 Qantas Points per $ on Qantas products & services (will be capped at $2,500 per month, and 0.5 point per $ up to $200,000 per year starting December 2016)
Minimum Income$75,000
Included InsuranceComplimentary Overseas Travel Insurance (PDS)
Overseas transaction fee3.65% of the converted amount
Annual Fee$195 (will increase to $249 p.a. on 1st December 2016)

Digging into the Qudos Bank Platinum Visa Card benefits

The Qudos Bank Platinum Visa is issued by Qudos Bank, which used to be Qantas Credit Union, who also offer points-earning mortgage and loan products. They are a mutual credit union instead of a typical profit-earning bank. There’s more about this here.

The current annual fee is $195 (set to increase to $249 on 1st December), and you can get one supplementary cardholder free, although this requires a rather convoluted hardcopy form and identity verification for the additional cardholder.

Earning Qantas Points from spend

You’ll earn 1 Qantas Point per $ on all your everyday transactions. A monthly soft cap of $2,500 per month will be in effect starting 1st December 2016, after which you will earn 0.5 point per $ spent up to a maximum of $200,000 per year.

As with most Qantas-branded cards, you earn 2 Qantas points per $ on Qantas spend, which includes Qantas flights, Qantas Club membership and Qantas gift vouchers. It excludes Jetstar and Qantas Holidays.

This is one of the best Qantas Point earning Visa options on the market.

Other Qudos Bank Platinum Visa Card Benefits

The complimentary international travel insurance is by Allianz and covers the cardholder for trips up to 90 days as well as their partner and dependents, so long as they are travelling with the cardholder for 100% of the trip. 

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.

You’ll also get access to the 24/7 worldwide Visa Platinum Concierge Service, if that’s your cup of tea – I know personally I have never really been tempted to use these services, but if you get value from them, great!

Other things worth knowing about the Qudos Bank Platinum Visa Card

The paperwork to apply for this card after the online application is more involved than elsewhere; you will most likely have to provide copies of payslips, 3 months worth of credit card statements, and other documentation. Refer to their website for full details.

You need to also apply for a free transaction account with the Bank to apply.

Qudos Bank Platinum Visa Card – Summary

This is a simple card in terms of benefits and points earn. The earn rate of 1 Qantas Point per $ capped at $2,500 per month on your day to day spend is decent, and additional insurances are welcome. One thing to keep in mind is that this card no longer earn points on ATO payments.

When this card is offered with a signup bonus, it’s usually a really compelling offer for a 1 Qantas Point per $ Visa.

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Point Hacks Credit Card Information

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We have not taken into consideration your circumstances or financial situation when providing the information on this website. It is important you read the relevant PDS from the product issuer and seek the independent advice of an appropriately qualified professional before making a decision on a product.

Comments Expand Comments

  1. D

    Well this just gets better and better 🙁 …

    Earn rates are being cut, relatively low points caps being introduced, annual fees going up. It feels like there is almost no point using a Visa/MC for FF points especially for those who only spend on general items e.g. groceries and petrol.

  2. Any ideas as to which Visa card to goto now? Bank Australia seem to have a decent one, however I am worried that they will eventually fall in line with the bigger banks and cap that at $2500 per month (at 1:$1).
    Macquarie Visa Black is capped at $4000, although it is a slightly higher annual fee ($299)…

    • Keith Author

      Hey Andrew – we can’t advise personally, but yes, the Bank Australia card looks intriguing. We’ll write that up in due course.

      A cap of course only matters if you’ll consistently spend up to that on the Mastercard/Visa, and if so, then how much you value the points vs paying a higher fee for an uncapped card. Might be worth you looking over all the cards on the market in our Rewards Cards Table.

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