NAB - Qantas Rewards Signature Credit Card
The NAB Qantas Rewards Signature Credit Card has an interest rate of 20.99% p.a. on purchases and a yearly fee of $420. The fee in the first year will be reduced to $320.
This card earns Qantas points at a rate of 1 Qantas Point for every dollar spent on everyday purchases up to $5,000. Beyond $5,000 and up to $20,000, the earn rate is 0.5 points per dollar spent. Qantas Points are capped at $20,000 spend per statement period.
If $3,000 is spent within 60 days of new card activation then a bonus 90,000 Qantas Points will be awarded.
Annual Fee
$320 for the first year reverts to $420 per year thereafter
Balance Transfer
0% for 12 months reverts to 21.74% p.a.
3% BT fee applies.
3% BT fee applies.
Purchase Rate
20.99% p.a.
Rewards Rate One
1 point(s) per AUD$1 On everyday purchases up to $5,000 per statement
Details
Card Type
Visa
Minimum Repayment
2% or $25
per statement, whichever is greater
Interest Free Period
up to 44
days
Minimum Credit Limit
$15,000
Fees
Annual Fee
$320 for the first year
reverts to $420 per year thereafter
Late Payment Fee
$15
per statement
Cash Advance Fee
3% or $3
per transaction, whichever is greater
Additional Card Holder Fee
$0
Additional Card Holder Cap
up to 1
additional holders
Rates
Purchase Rate
20.99% p.a.
Cash Advance Rate
21.74% p.a.
Balance Transfer
Balance Transfer
0% for 12 months
reverts to 21.74% p.a.
3% BT fee applies.
3% BT fee applies.
Balance Transfer Fee
3%
per transaction
Overseas Spending
Foreign Currency Conversion Fee
3%
per transaction
Overseas ATM Withdrawal Fee
$5
per transaction
Eligibility
Minimum Age
18
years old
Temporary Residents
Yes
Rewards
Program
Qantas Frequent Flyer
Types
Flights, Vouchers, Qantas products
Bonus
120,000 bonus points
Reward Rates
Rewards Rate One
1 point(s) per AUD$1
On everyday purchases up to $5,000 per statement
Rewards Rate Two
0.5 point(s) per AUD$1
On everyday purchases up to $20,000 per statement
Perks
Complimentary Travel Insurance
Yes
Airport Lounge Access
No
Who is the product designed for?
These customers are likely to have the following objectives, needs and financial situation for this product:
Objectives and Needs
- A person that wants a credit card to cover the cost of everyday spending or large household purchases and to flexibly manage their
monthly spending. - A person that wants to make the most out of their purchases by earning Qantas rewards points which can be redeemed for award flights, products, and vouchers from the Qantas store.
-A person that wants access to complimentary travel and purchase insurances.
Financial Situation
- A person that is likely to transact and make purchases using the card at a rate to earn rewards points
- A person that is willing to pay a higher annual fee and higher interest rate to access:
- Qantas Rewards points at a higher earn rate
- Free Qantas Frequent Flyer membership
- complimentary insurances
- A person that requires a minimum credit amount of $15,000
- A person that is not likely to carry a substantial balance over an extended period
- A person that has access to sufficient income to satisfy NAB’s credit assessment requirements and to meet the following payments
- minimum monthly repayments
- higher annual fee
- higher interest rate.
- A person that wants to manage and reduce the interest on their card.
Visit NAB to view Target Market Determination Effective From: 2024-09-13.
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