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Bonus points: 100,000
Purchase rate: 23.99% p.a.
Reward points per $ spent: 1.25
Annual fee: $450 p.a.

Our verdict

This is an impressive frequent flyer credit card that offers 100,000 bonus Qantas Points, a yearly $450 Qantas travel credit and 4 complimentary lounge invitations.

The Qantas American Express Ultimate Card is packed with frequent flyer perks and currently offers 100,000 bonus Qantas Points when you apply online by 02 April 2024 and spend at least $3,000 on eligible purchases in the first 3 months. This is a competitive bonus Qantas Points offer, and would be enough to redeem a return business class flight from Sydney to Fiji (83,000 Qantas Points plus fees and taxes) or a one-way business class flight from Sydney to Tokyo (82,000 points plus fees and taxes).

This card also has one of the highest earn rates on the market, giving you 1.25 Qantas Points per $1 on everyday, eligible spending. And 1 additional point per $1 spent on Qantas products and services, which gives you up to 2.25 points per $1. After the first 100,000 points per year, the everyday earn rate drops to 1 point per $1, which is still competitive with other Qantas credit cards on the market. Other perks includes lounge passes, complimentary travel insurance and an annual $450 Qantas Travel Credit. It charges a relatively high annual fee and interest rate on purchases, so you would need to use and get value from these extras to make sure you got the most value from it.

Pros

100,000 bonus Qantas Points
Up to 2.25 Qantas Points per $1 spent on eligible purchases in Australia, uncapped
$450 Qantas Travel Credit each year
2 complimentary Qantas Club lounge invitations each year
Complimentary travel insurance

Cons

High $450 annual fee
High 23.99% p.a. interest rate for purchases
3% foreign currency conversion fee
Only offers up to 44 days interest-free on purchases, compared to other cards that offer 55 days

The Qantas American Express Ultimate currently offers the highest earn rate amongst Qantas-earning credit cards – with a rate of 1.25 Qantas Points per $1 on eligible spending. This means a purchase of $100 earns 125 points. Added value is available for new card members with a bonus points offer. To get the most out of a card like this, you need to make use of the other travel perks it offers; the annual fee is on the higher side when compared to other frequent flyer credit cards, but you could justify paying the relatively high $450 annual fee when you know you'll receive a $450 Qantas Travel Credit.

Note that the travel credit must be redeemed on the Amex Travel website, and terms and conditions apply around how it can be redeemed; for example, it can only be used once on 1 booking, and the value of the travel you purchase must be at least $450. Its other perks include 2 complimentary Qantas Club lounge invitations and 2 Centurion lounge invitations every year, complimentary travel insurance and complimentary Qantas Wine Premium membership.

Details

Product details

Product Name	Qantas American Express Ultimate Card
Purchase rate p.a.	23.99%
Interest-free period	Up to 44 days on purchases
Min credit limit	$3,000
Card type	American Express

Eligibility

Available to temporary residents	Yes - Conditions apply
Minimum income	$65,000
Joint application	No

Rewards

Rewards program	Qantas Frequent Flyer
Bonus points	100,000
Rewards points per $ spent	1.25
Rewards points cap	Uncapped

Fees

Annual fee	$450
Minimum monthly repayment	2.5% of the closing balance or $30, whichever is greater
Late payment fee	$30
Foreign currency conversion fee	3%
Additional cardholder fee	$0
Number of additional cardholders	4

How to apply

If you've compared your options and decided on the Qantas American Express Ultimate Card, you can apply online in around 10 minutes and may get a response within 60 seconds. Before you get started, make sure you meet the eligibility criteria and have all the essential documents and details to complete the application.

Eligibility criteria

New cardholder. The introductory bonus points offer on this card is only available if you have not held another card issued by American Express in the past 18 months.
Residency. You must be an Australian citizen, permanent resident or hold a current long term visa (12 months or more). Student visas are not eligible.

Age. You must be at least 18 years old.
Credit history. You must not have a history of bad debt or payment defaults. If you don't know your credit score or what's on your file, you can get a free copy of your credit report through Finder.

Required documents

Personal documents. This covers your full name, email address, date of birth, driver's licence number, marital status, number of dependants and contact number.
Frequent flyer number. You'll need to provide your Qantas Frequent Flyer number to collect points with this card. If you're not a Qantas Frequent Flyer member yet, check out our guide on how to join for free.
Employment details. This includes your current employment status, job title and your employer's contact details. You may also be asked for recent payslips, your most recent tax return or your accountant's contact details (particularly if you're self-employed).
Financial details. As well as your provide details of your savings, shares or other assets. You also need to include details of any existing debts and credit accounts, as well as estimates of your regular household expenses.

Go to American Express' site More info

Card benefits

100,000 bonus Qantas Points. You'll get 100,000 bonus Qantas Points when you apply online as a new Amex card member by 02 April 2024 and spend $3,000 or more on eligible purchases within the first 3 months. Eligible purchases include most everyday spending but do not include cash advances, interest, fees and charges or traveller's cheques and foreign currencies.
$450 Qantas Travel Credit. You can use this travel credit for eligible Qantas flights (with a QF number) booked through American Express Travel, including international and domestic flights for you or someone else. You can redeem the travel credit once you have paid the annual fee for that year and paid at least the minimum amount listed by the statement due date. When making a booking, you need to log in to your Amex account, select the "Travel Credit" option on the booking page and pay using your Amex card. The travel credit's then added to your account within 3 business days (but may take up to 30 days). As the booking must be made through American Express Travel, note that ticket prices may differ from those listed on the Qantas website or other booking services.

Uncapped Qantas Points per $1 spent. You'll earn 1.25 Qantas Points per $1 spent on everyday purchases made with this card (up to 100,000 points per year), then 1 point per $1 spent after. For government bodies spending in Australia, you'll earn 0.5 points per $1. For people who applied and were approved for this card between 1 July 2023 and 9 January 2024, the annual points cap will come into effect from 10 July 2024.
Additional point per $1 for Qantas spending. You'll earn 1 additional Qantas Point per $1 when you use this card to pay for Qantas flights with a QF flight number through qantas.com.au, or for Qantas Frequent Flyer and Qantas Club membership joining/annual fees. This means you'll earn up to 2.25 points per $1 on eligible spending with this card.
Complimentary travel insurance. You'll get complimentary domestic and international travel insurance through this card when you use it to pay for your return trip – including cover for emergency medical expenses, trip cancellations and amendments and some cover for COVID-19. Your partner and dependent children are also eligible for this travel insurance when they're travelling with you and meet the requirements. See Finder's guide to American Express complimentary insurance for more details.
Airport lounge passes. This card gives you two complimentary Qantas Club lounge invitations after your first card spend each anniversary year when paying for selected Qantas products and services in Australia. You will also receive two entries to the Centurion Lounge at Sydney International (Kingsford Smith) Airport T1 or Melbourne International Airport T2 each year.
Complimentary Qantas Wine Premium membership. Qantas Wine offers a waived $99 annual fee on premium membership for Qantas American Express Ultimate cardholders, giving you access to benefits including free delivery on all orders within Australia and 3 points per $1 spent on wine (in addition to the points earned through your card).
Mobile payments. This card lets you make payments straight from your iPhone, Samsung or Android device when you add it to Apple Pay, Samsung Pay or Google Pay.

Rates & fees

Annual fee. This card charges a $450 annual fee.
Interest rate. The Qantas American Express Ultimate Card has an interest rate of 23.99% p.a. for purchases.

Interest-free period. If you pay your balance in full by the due date on each statement, you'll get up to 44 interest-free days on purchases.
Additional cards. You can get up to 4 additional cards for anyone over 18 years of age. Additional cards don't attract an extra fee and additional card members can earn Qantas Points too. However, you will be responsible for managing the account and card balance.
Foreign transaction fee. A 3% fee applies for transactions made in a foreign currency overseas or online.

I took out the Qantas Amex Ultimate Card specifically for my upcoming trip to the US. By booking my flights using this card, not only did I make progress towards the bonus points deal but also qualified for free travel insurance on my trip.

— Tom Stelzer, Finder Publisher

Go to American Express' site More info

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Corey

January 26, 2024

If i kept the card until the anniversary date and got the $450 travel credit, would I then be able to close the card before being charged the second year annual fee?

Amy Bradney-George Finder

January 29, 2024

Hi Corey,

You can use the $450 Qantas Travel Credit in the first year you have this card, as long as you have paid the annual fee and the account is in good standing. But the terms and conditions specifically state that “you must have paid the annual fee” and the account must be active to be able to use the travel credit, so cancelling the card would mean you couldn’t use this benefit. I hope that helps.

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Oliver

January 11, 2024

Does this card grant you access to the international centurion (Amex) lounges or is it restricted to just Australia?

Amy Bradney-George Finder

January 14, 2024

Hi Oliver,

This card offers 2 entries into The Centurion®Lounges in Australia per calendar year, which currently means you would have access at Sydney and Melbourne international airports. It also offers 2 complimentary Qantas Club lounge invitations each year, after your first spend on selected Qantas products and services. I hope this helps.

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Katie

January 05, 2024

If I have a business AMEX card but would like to apply for a new card for personal use, would I get the bonus points?

Amy Bradney-George Finder

January 15, 2024

Hi Katie,

Unfortunately, you wouldn’t be eligible for this offer if you currently hold any card product issued by American Express Australia Limited, or if you have held one in the past 18 months. But as an existing Amex card member, you could consider contacting the American Express customer service team to discuss different options if you want to switch to another Amex card. I hope this helps.

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Tariq

December 10, 2023

Hi Amy,

How to use $450 credit for flight booking, I have got Qantas American Express Ultimate Card since July 2023

Thanks

Amy Bradney-George Finder

December 12, 2023

Hi Tariq,

Here are the basic steps to redeem the $450 Qantas Travel Credit:

Go to the American Express Travel Online website.

Search for Qantas flights. Make sure your chosen flight is worth $450 or more and has a QF number (e.g. Qantas Flight 410 or QF410).

Pay for the booking with your Qantas American Express Ultimate Card. The travel credit will be added back on your card account within 3 business days (but it could take up to 30 days in some cases).

If you have further questions, you can contact American Express using the online chat service or the phone number on your card. I hope this helps.

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Tim

November 04, 2023

can the yearly $450 credit be used for the airfare for relatives, such as children? Thank you!

Amy Bradney-George Finder

November 06, 2023

Hi Tim,

Yes, according to the American Express Australia website, you can use the Qantas Travel Credit on bookings for other people “provided the tickets are not for resale, promotional, or commercial use. You do not have to travel with them.” Keep in mind that the booking must be made through American Express Travel, so the prices may be different to those on the Qantas website or other booking services. Bookings for children will also need to be in keeping with Qantas travel terms and conditions. I hope this helps.

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Qantas American Express Ultimate Card

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