Reviews

Review: Bank Australia Qantas Platinum Rewards Visa credit card

By Chris Chamberlin, July 19 2016
Bank Australia Qantas Platinum Rewards Visa credit card
Notes
The Good
  • No points capping/tiering
  • Double points on Qantas spend
The Bad
  • Restrictive insurance coverage
  • High additional cardholder fee
Added Value
  • Earn one Qantas Point per $1

Introduction

Churning out one Qantas frequent flyer point per dollar spent with no points capping or tiering is the Bank Australia Qantas Platinum Rewards Visa credit card, yours for under $200/year.

But don't expect any frills like complimentary airport lounge access or interstate flight inconvenience insurance: this card is all about the points, with the exception of a very restrictive international travel insurance policy.

Despite the Platinum name, it's also one that newcomers can easily qualify for, with no set minimum income requirement and a minimum credit limit of just $1,000 that's within easy reach of most employed applicants.

Bank Australia Qantas Rewards Visa: fast facts

  • Grade/tier: Platinum
  • Card type: Visa
  • Loyalty program: Qantas Frequent Flyer
  • Qantas Points earned per $1 (everyday): 1.0
  • Qantas Points earned per $1 (Qantas spend): 2.0
  • Points capping: Uncapped

Fees, charges and interest:

  • Annual fee: $189
  • Supplementary cardholder fee: $59
  • Interest rate on purchases: 18.49% p.a.
  • Interest-free days on purchases: Up to 55
  • Interest rate on cash advances: 18.49% p.a.
  • International transaction fee: 2.0%
  • Minimum income requirement: No defined minimum
  • Minimum credit limit: $1,000

Earning points for free flights:

Rather than offering a bounty of bonus points to new customers, Bank Australia serves up a solid one Qantas Point per dollar spent on the card, and two Qantas Points per dollar when booking Qantas flights or paying for your Qantas Club membership.

That translates into a near-free Sydney-Melbourne flight in economy after every $8,000 spent on the card on everyday transactions or every $4,000 spent directly with Qantas.

Turn your points into flights with Qantas, either at home or abroad...

There's also no limit to the number of points you can earn every month or year, and the earning rate per dollar remains the same regardless of how much you spend.

International travel insurance:

Unlike the frequent flyer points you can earn, Bank Australia's inclusive international travel insurance is far less impressive.

For starters, you're only covered on trips which are wholly "for leisure purposes" – take time out to visit a client and you've invalidated your cover.

There's also a requirement that at least 50% of your total costs for each entire trip are charged to the card, including flights, accommodation and itinerary items, both before you depart and as you continue to travel.

Yes, whip out the wrong credit card to settle your hotel bill abroad and you could also be left without any cover.

Unlike most other Platinum-grade cards, interstate flight inconvenience insurance, extended warranty cover, purchase protection insurance and access to a guaranteed pricing scheme are all absent.

Airport lounge access:

Airport lounge access isn't a benefit provided by this card, although if you choose to join the Qantas Club, you'll earn a higher two points per dollar spent on the cost of that membership.

Bank Australia Qantas Rewards Visa: the verdict

It's clear that with insurance cover pared back to an absolute minimum, the focus of this card is very much on earning frequent flyer points above, and in that respect, it actually performs quite well.

One frequent flyer point per dollar is very reasonable for a Visa (or MasterCard) in the current market, and with double points earned on all transactions with Qantas in Australian dollars, you could be on your way to a free flight or upgrade in no time.

Of course, we should also mention that the same frequent flyer earning rates can also be found on the Qantas American Express Discovery Card without paying an annual fee, but whether that's a good option for you depends on where you normally spend.

AMEX is accepted by most major airlines, hotels, chain stores, restaurants and increasingly, many smaller outlets, yet for just $189/year with the Bank Australia card you'd be free to spend wherever credit cards are welcome, not just where AMEX is.

Also read: ANZ Qantas Frequent Flyer Platinum card review

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Chris Chamberlin

Chris Chamberlin is the Associate Editor of Executive Traveller and lives by the motto that a journey of a thousand miles begins with a single step, a great latte, a theatre ticket and a glass of wine!

Michael Kao

Michael Kao

Qantas - Qantas Frequent Flyer

06 Nov 2014

Total posts 339

Do we know if this card pays ATO like Qudos?

ismale

ismale

Qantas - Qantas Frequent Flyer

01 May 2015

Total posts 6

No reference to ATO being excluded https://bankaust.com.au/globalassets/privacy/visa/10760_mkt_1021_ba_platinum_tcs_web_06.1.pdf

bdsl

bdsl

Qantas - Qantas Frequent Flyer

21 Oct 2013

Total posts 11

Have paid my ATO with this card and no problem at all.

pdreyer003

pdreyer003

Qantas - Qantas Frequent Flyer

26 Dec 2012

Total posts 7

Hi bdsl - are they still awarding points for ATO payments as some cards are changing the rules around this

Dan J

Dan J

Qantas - Qantas Frequent Flyer

04 Aug 2016

Total posts 1

This card seems like a pretty good complement for an Amex plat charge.


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