The Qantas American Express Ultimate Card is another 'premium product' from the ever expanding international finance company which bases its trademark on imagery from the Roman Empire, in conjunction with the world famous flying kangaroo.
Whilst less complex than the Platinum Card, if you are looking for a budget product, the Qantas Ultimate Card is clearly not for you. The card is aimed directly at frequent flyers, and currently offers one of the highest points per dollar of spend available. The only catch is the annual card fee of $395 p.a. and a minimum income requirement of $65,000 p.a. for applicants. At 18.49%, the standard variable rate is a little above par, so maybe one to avoid if you don't usually pay your monthly balance in full.
So just what do American Express customers get? Well, according to their website, the Qantas Ultimate Card is designed by travellers, for travellers. The key feature is of course the rewards program, which offers 1.5 Qantas Frequent Flyer Points for every dollar spent, increasing to 2.5 points per dollar on selected Qantas services. Whilst customers do not have access to a diverse range of awards, if you are looking for free flights, this card will get you there 3 times faster than the standard American Express Product.
Key benefits in addition to standard American Express items include Domestic and Overseas Travel Insurance to insure you for the following items:
The other key benefit is a free Domestic Economy return flight with Qantas every year, valid for flights between Melbourne, Sydney, Adelaide, Canberra or Brisbane. If you are certain to fly interstate at least once a year - this alone could recover your annual membership fee in one hit!
Other benefits of the Platinum Card include a lifetime interest rate of 6.99% on balance transfers, plus the standard 55 interest free days on purchases. So it's useful for your typical credit card transactions like buying things, paying direct debits, getting a cash-advance, and paying bills over the phone using BPAY. Not a low-cost option, but if yourself or a family member travels frequently, the Qantas American Express Ultimate Card will save you money!