The American Express Qantas Premium is a mid-range credit card that rewards users with frequent flyer points. Cardholders get a range of additional benefits including extensive travel coverage, purchase coverage, and preferential treatment. This is a premium card by name and by nature.

Benefit of the Card’s Best Features?

This card is a step below a gold credit card, which means you are getting nearly all the privileges of a gold level card but at a lower level – and a lower annual fee of just $249 p.a.. For the first year, the fee is reduced to $149 p.a.. It is especially nice that additional cardholders cost $0 p.a. and thus making it a good option for families.

With the Qantas Frequent Flyer rewards program, you are rewarded with 1.25 points per dollar spent. On select Qantas services and products, this ear rate increases to 2.25 points per dollar. You can accrue unlimited points as long as you keep your account in good order. Additional cardholders can also earn points for you, helping to boost your points balance. As a new member, you have the opportunity to earn 17,500 bonus points. You will get 5,000 points for your first purchase, 10,000 points for spending $500 in the first 2 months of membership, and 2,500 points for your first spend on selected Qantas products/services.

For frequent travellers, just the travel insurance coverage makes the annual fee worth it. As a cardholder, you and your family will get up to $200,000 in event of transport accidents; $200 for travel inconveniences; $5,000 for damaged/lost baggage, documents or money; and $7,500 for travel cancellations.

The purchase protection is a nice added bonus, providing coverage for items bought with your card for 90 days in case they are damaged or stolen. The card’s refund protection will give you your money back for eligible items in event that the retailer won’t take it back.

There are a few other nice membership perks with the Qantas Premium credit card. For example, you will get 2 free Qantas Club invitations every year, which makes travelling more luxurious and a lot less stressful. You can also use Amex to help you book entertainment events and get tickets to in-demand events even before they go on the market.

Are There Any Drawbacks?

As with almost all American Express credit cards, you can expect to pay a higher interest rate in exchange for your rewards. At 20.74% p.a., you should always make sure to pay your bill back in full on time or you risk accruing a lot of debt. Note that the American Express Qantas Premium card only gives you up to 44 days interest free (most give up to 55 days).

If you don’t travel frequently or won’t be using the card regularly, then the standard ongoing annual fee of $249 p.a. is a bit high.

Who is it Suited for?

This card is best suited for frequent travellers who want rewards, but don’t mind missing out on a few luxuries found with higher level cards. It is only really best for those who pay their bills off in full and quickly, like any rewards card.

Who is Eligible?

To be eligible for the American Express Qantas Premium credit card, you must be at least 18 years old and a permanent resident or citizen. Applicants will also be required to have a good credit record and a minimum of at least $40,000 in taxable income.