Review: Qantas Premier Platinum Mastercard

By Chris Chamberlin, November 15 2017
Qantas Premier Platinum Mastercard

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You should seek independent advice and consider your own personal circumstances before applying for any financial product.

The Good
  • Earn up to 1 Qantas Point per $1 spend on everyday transactions in Australia
  • Companion airfare discounts, two yearly lounge passes
  • Bonus points when booking Qantas flights, buying epiQure wine, travelling abroad
The Bad
  • 3% international transaction fee, $50/year charge per additional cardholder
  • No points earned on any government spend
  • Limited insurance coverage compared to other Platinum-level cards
Added Value
  • Up to 120,000 bonus Qantas Points for eligible new cardholders


The Qantas Premier Platinum Mastercard – issued by Citibank on behalf of Qantas Money – packs in up to 120,000 bonus Qantas Points for eligible new cardholders and a solid 'everyday' earning rate of one Qantas Point per dollar spent on most Mastercard transactions in Australia, with up to 1.5 Qantas Points per dollar spent overseas.

There's also a reduced annual fee in the first year and familiar favourites like two yearly Qantas Club lounge visits and no limit to the number of points you can earn, but when you examine the card more closely, some of its other benefits like companion fare discounts on Qantas flights and international travel insurance do come with some important restrictions, while you'll also pay more to use your card overseas to earn those higher points.

Executive Traveller puts this Qantas credit card under the microscope: revealing where this card excels, and where it doesn't.

Qantas Premier Platinum Mastercard: fast facts

  • Grade/tier: Platinum
  • Card type: Mastercard
  • Loyalty program: Qantas Frequent Flyer
  • Qantas Points earned per dollar spent:

         International transactions: 1.5

         All payments in Australian dollars, up to $10,000 per month: 1.0
         Exceeding $10,000 per month:

    Bonus points on selected Qantas products and services*: 1.0

         All government transactions (such as ATO payments, rates, car registration and more): No points

  • Points capping: No cap, although tiered earn rates apply as above for heavy spenders

* Selected Qantas products and services include Qantas flight bookings direct with Qantas or selected travel agents, payments for Qantas Club or Qantas Frequent Flyer membership, Qantas flight vouchers, purchases from the Qantas epiQure wine store and the monetary component of transactions made at the Qantas Store.

Bonus points are awarded in addition to the applicable Australian dollar earn rate, being 2.0 Qantas Points per dollar spent in total where $10,000 or less has been spent that month, or 1.5 Qantas Points per dollar spent where >$10,000 has been spent in the same statement period.

Fees, charges and interest:

  • Total annual fee: $299 (currently $199 in the first year)
  • Supplementary cardholder fee: $50 (per card)
  • Interest rate on purchases: 19.99% p.a.
  • Interest-free days on purchases: Up to 55
  • Interest rate on cash advances: 21.99% p.a.
  • International transaction fee: 3%
  • Minimum credit limit: $6,000

Earning points for free flights:

New cardholders who apply by February 26 2020, are approved and spend $1,500 on eligible purchases per month for the first six months can earn up to 120,000 bonus Qantas Points, being 20,000 bonus Qantas Points per month, in each of the first six months where that minimum spend is met.

As you continue to use the card, every $5,334 spent on foreign currency transactions or every $8,000 spent in Australian dollars nets enough points for a one-way Qantas flight from Sydney to Melbourne in economy, plus a payment to cover taxes and other fees of around $40 per flight.

That assumes you're spending $10,000 per month or less within Australia or on Aussie dollar transactions abroad – but if you exceed that threshold, you'd continue earning enough points for that same flight after every $16,000 spent.

We're pleased the Qantas Premier Mastercard offers an additional Qantas Point per dollar spent on things like Qantas flights and Qantas Club memberships, as found with many other Qantas-earning credit cards, but that this bonus also applies to Qantas epiQure wine purchases too, which is less-standard.

It's also good to see that cardholders can earn up to one Qantas Point per dollar spent when using their card for everyday purchases, although it's important to highlight that no points at all are awarded on government or government-related transactions, including but not limited to "transactions made at Australia Post, payments to the Australian Taxation Office, council rates, motor registries, tolls, parking stations and meters, fares on public transport, fines and court related costs".

Also excluded from earning points: "transactions made in operating a business" – so don't be tempted to use this card to pay your business' suppliers, else you may find no points awarded on those payments.

Inclusive travel insurance:

Charge the full cost of your return international flight to your Qantas Premier Platinum Mastercard – or at least $500 of fares where the ticket price exceeds that amount – and you may be covered by international travel insurance on trips of up to 30 days, with a $500 excess payable on most approved claims.

You may also be covered when using Qantas Points to book your overseas flights, provided all of those points were earned via the Qantas Premier credit card. If, like most people, you earned some of your points by flying, some by shopping and some from your credit card, you may not be covered unless you've earned at least as many points via Qantas Premier as you spent on the ticket.

Full travel insurance isn't available on domestic trips – instead with more limited interstate flight inconvenience insurance provided, activated by using your Qantas Premier card to either book a return domestic holiday of 14 days or less, or using your Qantas Points to book the same where those points were earned via your Qantas Premier card.

Global car hire excess cover of up to $3,000 is also provided, as is 'golfer's insurance', covering theft or accidental damage to your golf clubs, although exclusions apply including when left "unattended in a public place", the definition of which includes airports and golf courses.

On the downside, this card doesn't provide purchase protection (cover for loss/damage to items purchased with the card), free extended warranty cover (when buying selected new appliances), a guaranteed pricing scheme (when you buy something with the card which is later advertised at a lower price), or domestic transit accident insurance: all of which are standard of most Platinum-grade cards in Australia.

Most other cards also provide international travel insurance on trips of 3-6 months – some even on trips of up to 12 months – although the cover you'll get via this card is only valid for return trips of 30 days or less, doesn't cover you on one-way bookings (even if planning to later buy a flight home) and can't be activated by pre-paying other travel charges like overseas hotel stays or tours, which are also common features of other Australian cards.

Airport lounge access, Qantas flight benefits:

As is standard of many Qantas-earning credit cards, the Qantas Premier Mastercard provides two complimentary Qantas airport lounge visits per year: usable either in domestic Qantas Club or Qantas Regional Lounges, or in Qantas international business class lounges with a few exceptions, like Los Angeles.

When travelling domestically with a partner, cardholders may also save 10-20% on selected domestic companion airfares once per year when booking via the card's concierge service.

At the top end, those 20% savings apply to domestic 'flexible business class' airfares (J, C); 15% savings apply to all 'flexible economy' fares (Y, B, H, K and M types); and 10% savings apply to most Red eDeal fares (L, V, S, N and Q tickets).

However, companion discounts are not available on the lowest-cost economy fares (O, E) or on Business Sale and Business Saver fares (D, I) – which means that booking and paying for flights at full price may actually be less-expensive than by using the companion fare discount during sale periods or when low-end fares are still available.

Qantas Premier Platinum Mastercard: the verdict

All things considered, the Qantas Premier Mastercard is a solid choice for earning points on most spends within Australia, with one Qantas Point earned per dollar spent up to $10,000 per month, and 0.5 Qantas Points per dollar spent thereafter.

It's unfortunate that those reasonable earn rates don't apply to any government-related transactions – on which no points are earned at all, rather than attracting points at a reduced rate as with American Express – and that other perks like Qantas Club membership discounts aren't included either, as you'd find with ANZ's top-tier Frequent Flyer Black Visa.

International spend does fetch a higher earn rate of 1.5 Qantas Points per dollar spent overseas (uncapped), but which is only achievable when paying a 3% international transaction fee – a charge that many other banks including ANZ, Bankwest, Commonwealth Bank, Coles Financial Services, Latitude and Macquarie have now removed from a number of their own travel-themed cards.

Unlike most Australian frequent flyer credit cards, you'll also pay an extra $50/year to have an additional cardholder on the account (such as your husband, wife or child), and while the card offers the usual platinum-grade telephone concierge services, only primary cardholders are allowed to use the service: not their additional cardholders.

It's for these reasons we'd suggest the Qantas Premier Platinum Mastercard is a great fit for people who want to maximise their points on spends within Australia at places where American Express isn't accepted, or who simply want one decent 'everyday' card to earn points wherever they shop: but may not be the right choice for people focussed on the other aspects of a premium card like insurance cover, fees, or getting the highest sign-up bonus.


Executive Traveller may receive a commission when you apply for these credit cards via our links.

You should seek independent advice and consider your own personal circumstances before applying for any financial product.

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!

04 Nov 2012

Total posts 216

No spend on business like suppliers and PO etc. its so restrictive, really only for personal use, will not be going anywhere near this card.

Air New Zealand - Airpoints

21 Jan 2016

Total posts 178

Its similar to Westpac New Zealand Airpoints Platinum Mastercard card issued in New Zealand except for additional points earning on QF related products and services.

At least in NZ, there is Westpac New Zealand Airpoints Business Mastercard card where a business owner can earn Air NZ Airpoints for business related purchases at the same earning rate as the Airpoints Platinum Mastercard card.

As Chris said, the Qantas Premier Card is great to earn FF points personal purchases and Qantas products and services with Australia and Overseas.

Qantas - Qantas Frequent Flyer

06 Jan 2017

Total posts 16

Not very enticing for those who have QFF Gold or higher status. I was hoping for some additional perks. 

Probably won't be signing up to this.

04 May 2015

Total posts 255

I normally use AMEX where I can and have a Visa for everything else, but at these earn rates, the new Qantas card is no better than what I already have in my wallet, so there's no point at all in switching... but then again, Qantas probably doesn't want to kill its income stream of banks buying points, so maybe that's the idea!

Even so, they could do so much better with the other card features. The half-baked travel insurance policy just doesn't cut it at that annual fee, and that companion fare discount looks like a real muckaround to waste time on the phone and save a very small amount, if there's any real saving to be had at all versus just buying a cheaper fare. Qantas lounge passes also serve zero purpose to Gold/Platinum FFs who already have lounge access, and you can earn more points when booking Qantas flights by using other cards at the same fee. Would have been nice to see the credit card surcharge waived when using this to book with Qantas... even Jetstar does that for its own card!

Qantas - Qantas Frequent Flyer

28 Oct 2011

Total posts 358

I put most spending on my Amex Ultimate card, but will be getting this one to replace my existing Mastercard. The 1:1 ceiling of $10,000 per month is FAR better than my existing card.

Qantas - Qantas Frequent Flyer

26 Sep 2011

Total posts 85

This summary should emphasise the cost to card holders of the poor interest-free period. Describing it simply as "up to 55 days" doesn't really cut it, as a significant number of users won't qualify for any interest free period at all (see T&C 13)

RTWFF: Interest-free days only ever apply to those who pay their credit card off in full every month. The T&Cs merely specify how interest is calculated should a cardholder not have done so.

(If you paid last month's debt off in full but didn't pay this month's debt, you pay interest as you're now carrying a balance. If you didn't pay last month's debt in full but did pay off this month's debt, you're charged interest for that month as you were still carrying a balance until the point the card was repaid in full - after which, no interest applies on subsequent statements for regular purchases, as interest is calculated based on the closing balance each day. These are standard terms for most credit cards.)

Interest charges always apply to other transactions like cash advances: so as with other credit cards, you'll get those interest-free days every month by only making purchases (not cash advances etc.), and paying the closing balance in full each and every month.

This post does not constitute 'financial advice' and should not be taken as such.

Qantas - Qantas Frequent Flyer

07 May 2016

Total posts 17

It is a terrible start for Qantas credit card! website is not working for application. I tried last night and today multiple times, NOT WORKING! I called Qantas Premier, staff are overseas and have no idea what I am talking about. I called Qantas membership service, staff told me there is an issue. It seems nobody know whats going on with credit card staff overseas. What a terrible start!

Qantas - Qantas Frequent Flyer

28 Oct 2011

Total posts 358

Go to the QF website, go into QFF, and then credit cards and get into it from there. It works if you do it that way.

Qantas - Qantas Frequent Flyer

26 May 2014

Total posts 428

60000 points for $149 is not the best sign up deal around, but at 0.25 c per point, it is still good value for those wanting to buy points.

Qantas - Qantas Frequent Flyer

06 Jun 2017

Total posts 1

As a novice  I need all the help I can get!  I have had an ANZ  Frequent Flyer Black Visa and AMEX card but the Bank has recently informed me that they are about to drop their AMEX card completely. I really  ONLY use them to accrue Qantas Points. No International trips and I always pay them out on time.  What are my alternatives - the new Qantas Premier or ??

Qantas - Qantas Frequent Flyer

28 Oct 2011

Total posts 358

Other choice would be Amex Qantas Ultimate.

06 Jan 2017

Total posts 5

Anyone have an idea how long approval takes after applying?  28Degrees was instant ... I applied last night and still haven't heard anything.  Clicked on the "track my application status" link in the email I was sent and it only sent me to the app, no update.

06 Jan 2017

Total posts 5

Can answer my own question - just over 24 hours.  Very efficient.

14 Jul 2017

Total posts 1

Good luck with any customer service needs. Submitted an application for the card, but it got 'stuck' in their system (actually could not complete the application process). After numerous calls to overseas support staff to correct and constant  promises to be called back to follow up (and never received a single call back), after a week application is still pending. Took business elsewhere and had approval within 24 hours with one of their competitors. Not indicative that they will be able to cope or service their customers.


Qantas - Qantas Frequent Flyer

14 Sep 2012

Total posts 293

So that's the outsourced Citibank call centre, god knows where it is. Just plain terrible. I had the Virgin Money card way back when and cancelled it with worst online banking site all by Citibank. Just awful. 

03 Aug 2017

Total posts 5

If you're replacing an existing credit card and you use scheduling and periodical payments. Like for organisations that don't use direct debit. eg council rates. 

Then do not apply for this card. This card does not have this functionality.

Today I decide to BPAY a council bill due for Sept 1. The Qantas Money Premier card only allows you to pay today and nothing else.

There is no pay on this date. What's worst is I can't even setup quarterly payments.

Also, there isn't any downloading of transactions over a statement period or fiscal year or two.

Frankly, Qantas has rushed into this deal with CITI Bank to provide a substandard product.

Why am I paying an annual fee for a dumb card and useless web and app? 

 I'm committed now but I will looking else where when my year is up.

10 Jul 2017

Total posts 34

what other visa/mastercards offer one point per dollar with a higher spend cap than 10k? does anyone know?

Qantas - Qantas Frequent Flyer

28 Oct 2011

Total posts 358

I don't think you'll find one with a higher cap.

Qantas - Qantas Frequent Flyer

15 Dec 2016

Total posts 11

Platinum MasterCard seems pretty weak for a $299 annual fee cards - Even Citibank (Qantas Premier's issuer) has Emirates Skywards World MasterCard available at $299.

08 Sep 2017

Total posts 1

Today I learnt a hard way that they do not give you points for the government bills such as council rates etc. 60K points for $149 was OK to start with but this card is definitely not a keeper any longer than this year. It has to go.

Qantas - Qantas Frequent Flyer

11 May 2015

Total posts 31

Chris, do government bills count towards the first $3k spend? I have a nice tax bill that needs to be paid that could be softened by an additional 60k points. 

Hi OzDino, we can't provide readers with personal financial advice, so for a definitive answer you would need to contact Qantas Money: but as these transactions don't ordinarlly earn points (on a per-dollar-spent basis), we wouldn't expect that they would count as qualifying spend towards the bonus points offer.

Qantas - Qantas Frequent Flyer

06 Nov 2014

Total posts 345

This is more a mid-tiered card as it's income requirement is much lower than say, compared to ANZ black card. So for people with a lower income this is a much better option for the point earn and bonus points.

However, the application process is a bit of pain. My wife applied this card and was asked to supply the same documents 3x to different departments. She got it approved eventually but was rather painful.

15 Nov 2017

Total posts 2

I had the same experience as Michael Kao's wife when applying for this card and almost withdrew my application. Their call centre also left private messages for me on a communal work number answering machine. I recently informed Qantas Premier of my travel plans before travelling overseas but after three weeks travelling and using my card, they suddenly decided that a $199 purchase in Hong Kong was not OK and blocked my card even though I had many thousands of $ credit remaining. Not happy with them, have never had a bad experience with a credit card before.


19 Jun 2015

Total posts 18

Applied for and got the QF card 4 weeks ago, spend 3k quickly and go. the 60k QFF points (not 75k as you say Chris).I used this card to replace my CBA Diamond card because of their ludicrous point cuts and $300pa cost. This card is far better deal for people like me who want QFF points but Ive got the AMEX card for ATO and other bills. Its good value I think but Citibank is not a good choice as the run things from Manila so its painful to deal with them.

Hi David. 75,000 points is the current offer for new applicants. You would have applied during the previous offer period where the deal was 60,000 points.

02 Dec 2017

Total posts 1

Hi everyone. Can anyone confirm whether taking up a separate Citibank-issued card offer in the past 12 months prevents your entitlement to this card's bonus offer? I can't see anything about the bonus in the terms other than "New Qantas Premier cardholders only", which implies it should ok. Thanks!

Qantas - Qantas Frequent Flyer

22 Oct 2016

Total posts 11

Recently went through the process of getting one of these cards and unfortunately I had to contact "Customer Service" during the process. What a joke. So bad was my "Customer Service Experience" I cancelled my application. It was just too hard dealing with these call centre people who don't speak English.

27 Mar 2018

Total posts 1

Hi all - wondering if anyone else out there has had this experience and has any advice. I already have a Qantas Premier card and recently got a Qantas Amex Ultimate card, and requested a balance transfer to the Qantas Premier card. Amex got back to me and let me know that Qantas Premier rejected the funds. Apparently it’s because it’s issued by Citigroup but Qantas Money also has a stake? It doesn’t seem right that they can just reject a balance transfer from another card. Love to hear from anyone else who knows about this. Thanks

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