Review: Qantas Premier Platinum Mastercard

Qantas Money tempts with up to 80,000 bonus Qantas Points, 75 bonus Status Credits and a reduced first-year annual fee...

Overall Rating

By Chris Chamberlin, July 8 2020
Qantas Premier Platinum Mastercard
Disclaimer

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.

FF Program

Qantas Frequent Flyer (direct earn)

Sign Up Bonus

Up to 80,000 Qantas Points, plus 75 Status Credits

Flight Voucher

Save 10-20% on selected domestic companion airfares once per year

Annual Fee

$199 first year,
$299 p.a. thereafter

Interest Rate

19.99% p.a. on purchases
21.99% p.a. on cash

Notes
The Good
  • Earn up to 1 Qantas Point per $1 spent on everyday transactions in Australia
The Bad
  • 3% international transaction fee, $50/year charge per additional cardholder
Added Value
  • Earn bonus Status Credits even if you're not currently flying (offer ends September 30 2020)
Fees and interest
Points earned
Lounge access
Overall

Introduction

Tempting with up to 80,000 bonus Qantas Points and 75 bonus Status Credits for eligible new customers who apply by September 30 2020, the Qantas Premier Platinum Mastercard also delivers one Qantas Point per dollar spent on most Mastercard transactions in Australia, and up to 1.5 Qantas Points per dollar spent overseas.

There's no limit to the number of points you can earn, and in the first year, there's a reduced annual fee as well – even while enjoying the card's full suite of benefits including airport lounge passes, discounted companion airfares, complimentary travel insurance and more.

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
         Domestic transactions (up to $10,000/month): 1.0
         Domestic transactions (above $10,000/month): 0.5
         Bonus points on selected Qantas products and services*: 1.0
         All government transactions (e.g. ATO, rates): No points
  • Points capping: While tiering applies to domestic spend, points earning remains uncapped.

*Bonus points are awarded in addition to the applicable transaction earning rate, and are given on Qantas flight bookings where payment is processed by Qantas, plus Qantas Club and Qantas Frequent Flyer membership fees, Qantas gift voucher and Qantas Wine Store purchases, and the monetary component of Qantas Store transactions.

Fees, charges and interest:

  • Annual fee: currently $199 first year, $299 p.a. thereafter
  • Additional cardholder fee: $50 (per cardholder per year)
  • 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 income required to apply: $35,000
  • Minimum credit limit: $6,000

Earning points for free flights:

Your journey begins with 20,000 bonus Qantas Points per month for four months, when you spend $1,500 or more on eligible purchases each month.

That's up to 80,000 bonus Qantas Points over four months, when you apply by September 30 2020 and meet that spending criteria – plus, receive 75 bonus Status Credits when you make your first eligible purchase by November 30 2020.

Flying business class with Qantas: one of the many ways you could spend your bonus Qantas Points.
Flying business class with Qantas: one of the many ways you could spend your bonus Qantas Points.

By continuing to spend on the card, you'd earn enough Qantas Points for a short one-way domestic flight from every $5,334 spent on international transactions or every $8,000 spent within Australia on eligible purchases, if remaining within the $10,000/month tiering threshold.

For example, a one-way Qantas economy class flight from Sydney to Melbourne can be had for 8,000 Qantas Points, plus a payment to cover taxes and fees of around $40 per flight. You'd earn those 8,000 Qantas Points by making the spends above.

It's worth noting that the definition of 'government transactions' on which no points are earned includes "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 barred 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.

That said, we're pleased to see that bonus points are offered on purchases at the Qantas Wine Store (formerly epiQure). While many other cards similarly offer bonus points on Qantas flight bookings, bonus points on other Qantas-related spends are less common.

Inclusive travel insurance:

International travel insurance is normally extended to cardholders who charge the full cost of their return international flight to the Qantas Premier Platinum Mastercard, or who charge at least $500 worth of transport fares to the card for their journey.

Technically, international flight bookings made using Qantas Points may also qualify for cover, but only when the cardholder earned all of those points via the Qantas Premier credit card. As Qantas Frequent Flyers typically earn points from a variety of sources beyond credit card spend, this could affect insurance coverage.

In any case, this international cover normally insures return trips of 30 days or less and with a $500 excess payable on most claims – but as coverage restrictions may apply during the COVID-19 pandemic, contact the card issuer or insurer (Chubb) for further information.

There's also interstate flight inconvenience insurance for domestic interstate holidays of 14 days or less, activated when using the Qantas Premier card or Qantas Points earned via the Qantas Premier card to make those travel arrangements.

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.

There's no purchase protection cover, extended warranty cover, guaranteed pricing scheme access or domestic transit accident insurance: all of which are standard of most other Platinum-grade cards in Australia.

Lounge access, Qantas flight benefits:

Qantas Premier Platinum cardholders receive two complimentary Qantas airport lounge passes per year.

These are normally valid in domestic Qantas Clubs and Qantas Regional Lounges, as well as in many Qantas international business class lounges (excluding some like Los Angeles), although temporary restrictions on their use currently apply, as lounges move to re-open with capacity limits significantly curtailed.

You can use both lounge passes yourself, or share them with friends and family.
You can use both lounge passes yourself, or share them with friends and family.

Once per year, cardholders may also save 10-20% on one domestic flight booking when travelling with at least one other person, making that booking via the card's concierge service, and opting to use their companion airfare benefit.

The biggest savings apply to flexible business class airfares with a 20% discount (fare types J and C), and on flexible economy fares (Y, B, H, K and M types) with a 15% saving. A 10% discount is also available on some Red eDeal fares (L, V, S, N and Q tickets).

However, companion discounts are not available on Business Sale and Business Saver fares (D, and I tickets), or on the lowest-cost economy fares (O and E), so paying full price for these lower fares could well deliver more savings than purchasing a higher-level fare to access the companion discount.

Qantas Premier Platinum Mastercard: the verdict

The Qantas Premier Platinum Mastercard goes strong on frequent flyer points while also having relatively low barriers to apply, with a minimum income requirement of just $35,000 per year and a minimum credit limit of $6,000.

Many other comparable credit cards set the bar much higher – typically with a minimum income requirement of $75,000 and a minimum credit limit of $15,000 – so whether your income is on the higher or lower side of the spectrum, this Qantas Premier Platinum card could be a good fit for earning points at an affordable annual fee.

On the downside, this travel-themed card does impose a 3% international transaction fee on all overseas payments (including payments in AUD processed overseas), but on the plus side, these transactions earn points at a higher (and uncapped) rate to compensate.

While we'd love to see Qantas Money support digital wallets like Apple Pay, Google Pay, Samsung Pay, Garmin Pay and Fitbit Pay in the future, for now, the card remains great value for those seeking perks and points from their Mastercard spends.

Disclaimer

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 not just with a single step, but also a strong latte, a theatre ticket, and later in the day, a good gin and tonic.

Qantas - Qantas Frequent Flyer

02 Apr 2017

Total posts 6

As an ex-cardholder of the Premier Platinum card, I can only advise that people should stay away from this card. The great international points-earning potential is definitely luring, but my experience with the card includes:

1. A one-month application process due to employment verification needed from my HQ in the UK (and that their applications team only work during AEST hours). (Yes, they will call your employer and ask for the CEO, and not be willing to accept HR). They spoke to our Australian HR team and that was not enough. They called my employer twice a week asking for our CEO - absolutely humiliating for me.

2. Points on some statements never showed up, where I had to follow up with the atrocious off-shore call centre, where they were heavily scripted and poor communicators.

3. Online banking and their app is equivalent to a 2008 mobile banking app. No features, and the requirement of remembering two different passwords, in addition to your QFF login, just to access your monthly statements online.

4. No Apple Pay to put the cherry on top - Qantas Premier is the last type of card in the market with no mobile wallet. There are also no transaction notifications for your phone, as we've come accustomed to with all other card providers.

This card is great for the sign up bonus, but there is little incentive to keep it as it is an absolute nuisance to use (mainly due to hard online banking and no mobile wallet).

Today, I just use my AMEX card (1.25 points/$) everywhere, and my Macquarie Black card (1 point/$) for those rare places that don't accept AMEX.

29 Jul 2019

Total posts 3

That sounds unusual! Mine was approved without talking to anyone - perhaps the overseas employer made it tricky.

Super annoying there isn't Apple Pay, but I get points so fast

17 Jun 2020

Total posts 72

As a former user of the card, whilst it looks good on paper the actual service when using the card is pathetic (in line with jvcoorey).

The online banking platform is terrible, and the card doesn't even have Apple Pay. Points usually were very slow in crediting, and in many instances did not. Not to mention the exorbitant international transaction fees.

Only thing to like about this card is the sign up bonus.

08 Feb 2018

Total posts 93

I agree the terrible service had us both cancel our cards after about 9 Months. Take the points and run is my recommendation!

AT
AT

Qantas - Qantas Frequent Flyer

14 Sep 2012

Total posts 307

I don't have the card and won't get the card based on not only the above comments but also from friends who loath the day they moved away from their previous card, because of the sign on bonus. It's run behind the scenes by CITI which is just the worst organisation for customer service, and the fact CITI are running an add on LinkedIn at the moment recruiting for a 'Head of Complaints' in AU/NZ should send warning bells to everyone! What organisation on earth has a 'Head of Complaints' position unless you're being bombarded with...you know...COMPLAINTS!

Qantas - Qantas Frequent Flyer

30 Oct 2018

Total posts 4

I have had this card for a year. I only use it for Qantas bookings in light of 2 points per $ spent on Qantas products. While I haven't had problems with points being awarded, I do find it frustrating you have to remember an additional password just to look at your statements and if you get it wrong your entire Qantas account gets locked. 


Hi Guest, join in the discussion on Qantas Premier Platinum Mastercard