Reviews

Review: G&C Mutual Bank Qantas Platinum Visa credit card

Overall Rating

By Chris Chamberlin, October 17 2016
G&C Mutual Bank Qantas Platinum Visa credit card
Notes
The Good
  • Earn one Qantas Point per dollar spent
  • No points capping or tiering
  • Double points on Qantas payments
The Bad
  • No extended warranty cover
Added Value
  • International travel insurance covers trips booked using Qantas Points

Introduction

Looking for a Visa which earns one Qantas Point for every dollar spent, double points on all Qantas payments and has no points capping or tiering? Then take a look at the G&C Mutual Bank Qantas Platinum Visa credit card.

While lesser-known than bigger players like the Commonwealth Bank and Westpac, G&C Mutual's Qantas credit card packs a punch on points and even comes with free international travel insurance, including when you've use those points to book your return flights.

There's also no minimum income requirement to apply, so unlike some Platinum cards which command annual earnings of $50,000 or more, potential customers earning less aren't forgotten.

G&C Mutual Bank Qantas Platinum 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: $249
  • Supplementary cardholder fee: $0
  • Interest rate on purchases: 18.74% p.a.
  • Interest-free days on purchases: Up to 50
  • Interest rate on cash advances: 19.74% p.a.
  • International transaction fee: 2.85%
  • Minimum income requirement: No defined minimum
  • Minimum credit limit: $6,000

Earning points for free flights:

Some credit cards offer stacks of frequent flyer points to attract new customers. You won't find a bonus like that from G&C Mutual Bank: instead, you'll earn points at very high rates when you use the card to pay for your purchases, and with no points capping either.

Every single dollar spent on this Visa returns one Qantas Point, and if you use your card to pay for Qantas flights or to cover your Qantas Club membership, you'll reel in a higher two Qantas Points per dollar on those charges.

In other words, every $4,000 you spend with Qantas or $8,000 spent with other merchants earns enough points for a near-free economy flight from Sydney to Melbourne, plus a small payment to cover taxes and surcharges (usually around $30).

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

In addition to no points capping, there's also no monthly tiering – so while some cards may cut the number of points you can earn after spending a certain amount each month, that's not the case here.

International travel insurance:

Charge the cost of your return international flight to the G&C Mutual Bank Qantas Platinum Visa credit card and you may be covered by complimentary travel insurance on trips of up to 90 days.

You may also be covered if you used your Qantas frequent flyer points to book your return flight (with Qantas or any partner airline) in its entirety, or when your trip was funded using both Qantas Points and your G&C credit card.

However, unlike some credit cards which also provide access to travel insurance when you pre-pay a certain amount in overseas expenses (such as hire cars and hotel stays), that's not the case here.

On the upside, cardholders can also take advantage of purchase security insurance, transport accident insurance, a 'best price guarantee' cover, global car hire excess waiver cover and domestic flight inconvenience insurance, although extended warranty cover is absent.

Airport lounge access:

Airport lounge access isn't a benefit offered by this card, although if you do choose to purchase Qantas Club membership, pay using your G&C Mutual Bank card to earn two Qantas Points per dollar on your membership fees.

G&C Mutual Bank Qantas Platinum Visa: the verdict

While many Australian American Express and Diners Club cards can return a higher number of points per dollar spent, this card is your ticket to points parity wherever Visa is accepted – and at one Qantas Point per dollar, uncapped, it you'll be hard-pressed to find a higher-earning card elsewhere.

We're also impressed by flexible travel insurance which provides cover on trips booked using your frequent flyer points in addition to those paid for using your credit card.

Naturally, we should highlight that you can earn the exact same number of Qantas Points per dollar via the Qantas American Express Discovery Card, which has no annual fee at all.

However, for $249/year with the G&C Mutual Bank card, you may find that the inclusive travel insurance and other covers outweigh the cost of the fee, not to mention that the card can be used wherever Visa is accepted around the globe.

Also read: Bank Australia Qantas Platinum Rewards Visa credit card review

Connect with other business travellers in our credit card discussion group

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!

stevoplay

stevoplay

17 Feb 2015

Total posts 3

anyone tried paying ATO with this ?

pdreyer003

pdreyer003

Qantas - Qantas Frequent Flyer

26 Dec 2012

Total posts 7

I rang their offices and the consultant (after checking) confirmed that there is no prohibition on awarding points for paying the ATO. I have applied for the card so I guess I will find out soon enough.....

resreal

resreal

20 Jan 2016

Total posts 3

Would love to hear how that goes Pierre, now that the Qudos card stops awarding points for ATO spend as of December.

pdreyer003

pdreyer003

Qantas - Qantas Frequent Flyer

26 Dec 2012

Total posts 7

Will let you know....

pdreyer003

pdreyer003

Qantas - Qantas Frequent Flyer

26 Dec 2012

Total posts 7

I made a payment to the ATO last month and was awarded the points for this payment so seems to work....

resreal

resreal

20 Jan 2016

Total posts 3

Thanks for the update Pierre, much apprecciated!

pdreyer003

pdreyer003

Qantas - Qantas Frequent Flyer

26 Dec 2012

Total posts 7

Looks like they are changing this from 18 June 2017 - no more points on payments to the ATO....

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