Qantas American Express Premium Card

Name: Qantas American Express Premium Card
Brand: American Express
Rating: 2 (3 reviews)

3 reviews

23.99%

Purchase rate

$249

Annual fee

20,000

Bonus points

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Qantas American Express Premium Card card

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CardIQ

34Basic

Basic

Overall score, out of 100 · How this works

Frequent flyer34
Qantas Points34
Rewards34
Sign-up bonus31
Travel38

Customer reviews

2.0

Based on 3 reviews

GrahamRecommends

Used in Middle East with no problems

It was easily used overseas with no problems: used in UAE, Egypt and Jordan. It could probably do with more airport lounge access features.It would be good to see a lower interest rate on purchases (as with all cards) and a reduction in the fee charged when used.

BrettDoesn't recommend

Rewards are misleading

I applied for this card because of the rewards it offered, including two visits to the Qantas lounge. When I tried using the visit to the Qantas lounge I was told I was not eligible because I booked my flights through Flight Centre (pretty big travel agent in Australia).…

PaulDoesn't recommend

Watch out, don't be conned

They penalise you for being a day late with your repayment. They give no consideration if you have lost your job. Making the standard repayment requires a reduction in the monthly repayment. Consideration should be given to reduce your payment without being penalised for late…

Pros & cons

What's good

20,000 bonus Qantas Points to start, worth around $240 at our 1.2c-per-point valuation.
Complimentary international travel insurance.
Earns 0.5 points per $1 on ATO and government payments, where many rewards cards earn nothing.
No fee to add an additional cardholder.

Worth noting

The $249 annual fee is high for a Standard card, where the typical fee is about $50.
The 23.99% p.a. purchase rate sits in the most expensive quarter of cards (the median is 18.99% p.a.) if you carry a balance.
Earns 1 point per $1 on everyday spend, around the dataset average.
3.5% foreign transaction fee on overseas spending, at the high end of the market.

Card details

The basics

Additional cardholder fee: $0 p.a.
Card tier: Standard
Card type: American Express
Card use: Personal
Credit limit: $2,000 – $100,000
Credit rating: Good
Rewards program: Qantas Frequent Flyer

Eligibility

Instant approval: Yes (response in ~60 seconds)
Joint application: No
Minimum age: 18 years old
Minimum income: Not specified
Residency: Australian citizen or permanent resident
Temporary residents: Eligible

Rates & fees

Ongoing interest rates

Cash advances: 23.99% p.a.
Purchases: 23.99% p.a.

Fees

Additional cardholder fee: $0
Annual fee: $249 p.a.
Cash advance fee: —
Foreign transaction fee: 3.5%
Late payment fee: $30

Repayments

Interest-free period: Up to 44 days on purchases
Minimum repayment: 2.5% of the closing balance or $30, whichever is greater

Balance transfers

This card has no promotional balance transfer offer. To move existing debt to a lower rate, compare balance transfer cards.

Introductory purchase offer

This card has no introductory purchase rate offer. If you're carrying a balance or planning a big spend, compare 0% purchase cards.

Rewards

Earn rate

Everyday spend: 1 pt per $1
Bonus categories: None
Other purchases: None
Overseas spend: None
ATO/government: 0.5 pts per $1 on ATO and government payments
Reduced rate above monthly cap: None
Points cap: Uncapped
Points expiry: Points don't expire while your account is open and in order.

Sign-up bonus

Bonus spend required: —
Sign-up bonus: 20,000 points

Where these points could take you

Flights you could book with the sign-up bonus plus a year of spending $3,000 a month on this card. One-way from Sydney or Melbourne, one adult, before taxes and carrier charges. Award prices and seat availability change.

Complimentary insurance

Cover has conditions and exclusions, which are set out in the issuer's PDS. A missing row means we haven't captured that figure, not that the cover is absent.

Overseas travel

Activation: Prepay part of the trip on the card
Age limit: 79 years
Cover limit: $2,500,000
Excess: $250
Maximum trip length: 62 days
Not covered: Pre-existing conditions, unless the insurer agrees in writing

Where this card sits vs similar cards

Compared with every other personal credit card we list that has the feature. The further right the dot, the better this card does.

FeatureThis cardWhere it ranks

Rewards value$432 a yearTop 25% (13th of 95 cards)

Interest-free days44 daysNot as good as most cards (141st of 192 cards)

Overseas fee3.50%Not as good as most cards (152nd of 200 cards)

Annual fee$249 a yearNot as good as most cards (160th of 200 cards)

Sign-up bonus$240Among the weakest we track (54th of 59 cards)

Purchase rate23.99%Among the weakest we track (181st of 196 cards)

Data as at August 2026. Rates change often, so check the issuer's terms. Factual information, not a recommendation.

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Sources

Credit Card Compare: Australian credit card statisticsHow CardIQ scores cards
Issuer: American Express
Program: Qantas Frequent Flyer