After a series of major changes in 2016 that added points caps, increased annual fee and excluded payments to the ATO for the Jetstar MasterCard range, Jetstar is now giving the Platinum Mastercard variant another blow by reducing the points earn rate to 0.5 point per dollar on spend starting from 7 May. The details have been added to their FAQ page.
Until 6 May, you can still earn 1 Qantas point per dollar capped at $2,500 per statement period but will be halved to 0.5 point per dollar from 7 May onwards. The annual points cap of 100,000 and annual fee of $169 for the Platinum Mastercard will remain the same.
Digging into the details of the Jetstar Credit Cards
Jetstar have two branded Mastercards in their credit card stable, both issued by Macquarie Bank – the Jetstar MasterCard and Jetstar Platinum MasterCard.
|Card||Jetstar Platinum MasterCard||Jetstar MasterCard|
|Loyalty program||Qantas Frequent Flyer or Jetstar Dollars||As Platinum, but with $30 annual opt-in fee for Qantas Points|
|Points earned from spend||1 Qantas Point per $ capped at $2,500 per statement period then 0.5 Qantas point per $ or 1 Jetstar dollar per $100 thereafter|
(From 7 May onwards, Qantas Point earn rate will be reduced to 0.5 point per dollar on all spend)
|0.5 Qantas Points per $ or 1 Jetstar Dollar per $100|
|Points cap||100,000 points per year or $2,000 in Jetstar credit||25,000 points per year or $500 in Jetstar credit|
|Earns points at ATO||No||No|
|Travel benefits||Interest free Jetstar bookings, no booking and service fees on Jetstar bookings, 10% off onboard purchases||As Platinum|
|Included insurances||Overseas travel insurance, purchase, warranty and other coverage (PDS)||None|
|Minimum income requirement||$30,000||$30,000|
|Overseas transaction fee||3% of the converted amount||3% of the converted amount|
|Annual fee||$169 p.a.||$69 p.a.|
Both cards are linked to Qantas Frequent Flyer for Qantas Points earn, (as you’d expect given Qantas’ ownership of Jetstar) or you can link them to Jetstar Dollars – where you can earn credit to redeem for Jetstar flights.
The key differences between the two cards are the annual fee – $169 for the Platinum, and $69 for the regular card – and points earn rates, along with some included additional insurance on the Jetstar Platinum MasterCard. Read the full PDS here.
This guide references some of the benefits of insurance policies provided with this card.
You should read the PDS and obtain independent professional advice before obtaining this product.
Earning Qantas Points or Jetstar Dollars with your spend
With a choice between Qantas Points or Jetstar Dollars, most more advanced points collectors will probably opt for Qantas Points for maximum value.
That said, if you consistently fly on paid fares with Jetstar, the Jetstar Dollar credit earned is worth considering with the Platinum MasterCard.
The Platinum card currently earns 1 Qantas Point per dollar spent capped at $2,500 per statement period (will be reduced to 0.5 Qantas Point per dollar across all spend from 7 May onwards). The standard card earns 0.5 Qantas Points per dollar on all spend – but you’ll be paying an additional opt in fee of $30 annually to earn Qantas Points on the standard card.
There’s an annual points cap on both cards – with the standard card it’s 25,000 Qantas Points, and with the Platinum, 100,000 Qantas Points.
If you choose to earn Jetstar Dollars then this is not changing and you’ll still be earning a simple $1 credit per $100 spent with the standard card, or $2 credit per $100 spent with the Platinum MasterCard capped at $2,500 per statement period, with $1 credit earned per $100 spent thereafter.
The effective 2% return on spend in Jetstar credit on the Platinum MasterCard is actually quite good compared to many points earn options.
However with Jetstar Dollars you are locked into Jetstar flights, and can’t redeem them anywhere else, so this will need to work for you.
Jetstar benefits with both Jetstar MasterCards
One of the main benefit to the Jetstar Mastercards is the interest free offer on any flight booking at Jetstar.com.
Current offer is for 6 months interest free on any Jetstar flight booking over $300.
Another benefit is the no booking and service fees on Jetstar bookings when paid for using a Jetstar MasterCard. You can check out the the current fees here.
Again, the savings could pile up pretty quickly if you make regular bookings on Jetstar.com.
The other benefit of the card is 10% off inflight purchases when using the card, which is a less appealing benefit but still handy.
Summing up – who are the Jetstar MasterCards for?
Looking at both cards together, the Jetstar Platinum MasterCard still offers a slight edge for a dedicated Jetstar co-branded card for those who would like to earn Jestar Dollars – but with the looming Qantas Points earn rate reduction – it might be best to look elsewhere if earning Qantas Points on spend is your goal. Of course, this is subject to your personal circumstances, which I have not taken into account.
The regular Jetstar MasterCard is probably best used by the frequent Jetstar booker – with the ability to save on booking fees and the interest free period on flights probably covering the cost of the lower annual fee quite quickly.
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