Qantas American Express Ultimate card. The fees & need-to-knows

If you’re a regular traveller, you may have flown with Qantas Airlines before. Now, you can sign up for a Qantas American Express Ultimate card and accrue Qantas travel benefits while you spend.

Before you sign up, however, there are a few things you need to consider. It’s important to work out whether a credit card is right for you, and whether this card is going to meet your needs.

In this article, we look at the Qantas American Express Ultimate card, and we outline the specific benefits and limitations of this card, along with some surprises to watch out for.

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The Qantas American Express Ultimate card

The Qantas American Express Ultimate card is a credit card. It provides you with a line of credit so that you can make purchases without cash, and then pay it off later.¹ ²

This card can be used to make online, as well as in-store purchases. As long as you’re making the required repayments, you won’t pay any interest on the amount you spend for up to 44 days.¹

While you won’t pay transaction fees on purchases made in Australian dollars, This card isn’t entirely free to use.³ You’ll need to pay a membership fee to use the card, additional fees on cash withdrawals or international transactions, and you’ll also be subject to late payment penalties and interest if you aren’t making your repayments on time.³ ⁴

Who is this credit card for?

If you live in Australia but you’re a regular traveller then this card might be right for you. It gives you the ability to earn Qantas Points on your eligible purchases, and it also comes with other travel bonuses, including complimentary airport lounge entry and travel insurance.¹

However, if you’re heading overseas and looking for ways to spend your money abroad, then this might not be the best option. As with many credit cards, the Qantas American Express Ultimate card charges a foreign transaction fee when you spend money outside of Australia or in foreign currency, and ATM cash withdrawals come at an extra cost.³

The main features and benefits of the Qantas American Express Ultimate card

Signing up for a credit card like the Qantas American Express Ultimate card can make spending and managing your money easy, and helps you to earn rewards while you do. Here are some of its useful benefits¹:

• Earning Qantas Points on eligible purchases
• $450 travel credit to spend on Qantas flights each year
• Complimentary travel insurance for travel booked on this card
• Two Qantas Club lounge invitations
• Two passes to The Centurion Lounge at either Sydney or Melbourne international airport.
• A Qantas Wine Premium Membership
• Up to 4 additional cards, at no extra cost.

Read more: Qantas ticket refunds. All you need to know

Qantas American Express Ultimate card rewards

In addition to the annual membership benefits, you’ll continue to earn Qantas points when you spend on this credit card.

Specifically, the Qantas American Express Ultimate card gives you the following rewards¹:

• 2.25 Qantas Points for every $1 spent on eligible Qantas products and services
• 1.25 Qantas Points for every $1 that you spend on an eligible everyday purchase
• 0.5 Qantas Points for every $1 spent with an Australian Government agency

Your Qantas Points can then be redeemed on flights and hotels or spent at the Qantas Rewards Store.¹

Note: After a total of 100,000 Qantas Points is earned in a calendar year, the everyday earn rate will change from 1.25 to 1 Qantas Point per $1 spent. For Card Members who applied for the Card between 1 July 2023 – 9 January 2024, this change will come into effect from 10 July 2024.¹

The cons of using this card

If you’re thinking about signing up for the Qantas American Express Ultimate card, you need to be aware that there are significant fees.³

Additionally, this card can help you earn points towards paying for your travel, but using the Qantas American Express card may not be the best option for managing your money while you’re travelling.

You can use this card overseas, but it doesn’t provide you with a way to convert and hold additional currencies cheaply or easily. It also doesn’t provide you with fee-free access to cash while you’re travelling, as you’ll incur cash withdrawal fees when you use an ATM at home or abroad.⁴

The limits you get with this card

The minimum credit limit for this card is $3,000.¹ This amount of credit is available to any cardholder, however, you can request an increase to this amount, which will be considered by American Express.⁵

What are the fees for this card

Fees* in AUD	Qantas American Express Ultimate card¹
Maintenance fees	$450 annual membership fee
Points per $1 AUD spent	0.5 Qantas Points at Australian Government bodies 1.25 Qantas Points on eligible everyday purchases 2.25 Qantas Points for eligible purchases with Qantas.
Late repayments	$30³
Foreign exchange rates used	For charges to the card in a currency other than Australian dollars, American Express first converts the charge into US dollars, then into Australian dollars. The exchange rate used is from customary industry sources, and from the weekday prior to the day the foreign transaction is processed.⁴
Local/Foreign ATM fees	$2.50 or 2% cash withdrawal fee, in Australia and internationally.⁴
Foreign transaction fee	3% of the converted amount.⁴
Interest/purchase rate	23.99% p.a.
Record of charge	$7 for AU charges and $10 for others
Interest free days	Up to 44 days.

*As seen on 25 Jan 2024

Note: After a total of 100,000 Qantas Points is earned in a calendar year, the everyday earn rate will change from 1.25 to 1 Qantas Point per $1 spent. For Card Members who applied for the Card between 1 July 2023 – 9 January 2024, this change will come into effect from 10 July 2024.¹

What are the eligibility requirements for getting this credit card

To be eligible for this card, you need to meet the following requirements¹:

• Be over 18 years old
• Be an Australian citizen, permanent resident, or hold a long term visa. A long term visa is for 12 months or more, and is not a student visa
• Have no history of bad debts or payment defaults.

How do you get a Qantas American Express Ultimate card

Signing up for this credit card is a straightforward process¹:

• Visit the Qantas American Express Ultimate card page
• Confirm that you meet the requirements, then click ‘Apply Now’
• Fill out the application form, including your personal details, income information, and other financial details.
• Submit the application form
• Provide copies of any requested documents to confirm your identity.

You will then receive a decision on your application. If you’re successful, your new credit card will be headed for you in the mail.

How long does it take to get the card?

Once you’ve submitted the application form, American Express will take anywhere between 60 seconds and up to 10 working days to approve your application.¹ ⁶ Upon approval, your new card should be with you in less than 10** **days.⁷

Read more: Qantas flight credits. All you need to know

What else do I need to know?

If you haven’t held an American Express Card before, you might be eligible for the following additional points⁸:

• If you apply online for the Qantas American Express Ultimate card by 4 April 2023, and spend at least $3,000 on eligible purchases within 3 months of having the card approved, then you’ll receive 75,000 bonus Qantas Points.
• If you decide to continue using this card, you’ll get an additional 25,000 bonus points when you renew your annual membership and pay the next year’s membership fee.

These extra Qantas points are only available for new American Express Card Members.⁸

You must also be a Qantas Airlines Frequent Flyer Member to accrue and use Qantas Points. The membership fee is usually $99.50, however, if you aren’t already a Frequent Flyer, you’ll receive a complimentary membership upon signing up for an American Express credit card.⁹

Qantas Airlines and American Express contact details

For more information about this credit card, you can call American Express 7 days a week,** **between 6 am and midnight (AEST):

• From Australia: 1800 507 104
• From overseas: +61 2 9271 4498

For 24/7 contact:

• Log in to use American Express Live Chat
• American Express FAQ Page

To find out more about Qantas Points membership you can contact Qantas Airlines 24 hours a day, 7 days a week:

• From Australia: 13 11 31
• From overseas: +61 2 9433 2329

Wise Account and Debit card

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Not only can you use your Wise Account to hold and convert over 50 currencies, but you can order your own Wise Debit card to connect to your Wise Account and spend online or overseas at the mid-market rate — just like the one you see on Google.

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Sources:

1. Qantas American Express Ultimate Card
2. American Express: Credit Cards
3. American Express: Key Fact Sheet Qantas
4. American Express: Credit card fees
5. American Express: Credit Card Terms and Conditions, pages 6, 16
6. American Express: Qantas Ultimate Application FAQ
7. American ExpressAustralia
8. Qantas: American Express Ultimate
9. Qantas: Frequent Flyer Membership
10. Wise: Where can I use my card?

Sources checked on: 25 January 2024