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NAB Qantas Rewards Signature Credit Card - 90K Bonus Qantas Points w/$4K Spend in 60 Days; First Year Annual Fee $295 ($100 off)

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NAB Qantas Rewards Signature Credit Card - 90K Bonus Qantas Points w/$4K Spend in 60 Days; First Year Annual Fee $295 ($100 off)
Go to Deal
LSean R on 31/07/2018 - 07:07 nab.com.au (1344 clicks)
Last edited 31/07/2018 - 17:48 by 1 other user

This NAB card is a good option for those who churn cards to accrue Qantas Frequent Flyer points, and who are not currently eligible for better value offers.

If you're new to the game, I recommend you take a look at the current deals on here from other banks, such as Westpac, St George and ANZ.

However, if you're looking to pick up a NAB Qantas card, now's probably the time - with the reduced annual fee, it's significantly better value than it has ever been*.

Key points:

  • 90,000 bonus points with $4,000 spend in 60 days
  • Annual fee $295 in first year; $395 in subsequent years
  • Earn rate 1 point per $1 up to 5K p/m; 0.5 points up to $20K p/m
  • One additional cardholder free (may help if struggling to meet minimum spend)
  • Minimum credit limit $15,000
  • Not open to those who have received NAB Qantas bonus points within 12 months

The card also includes typical premium credit card perks, such as complimentary insurances, and concierge services (see the link for full details).

*Past deals and discussions:
Apr '18 - $395 for 115K points ($4K min spend): https://www.ozbargain.com.au/node/372748
Nov '17 - $395 for 100K points ($3K min spend): https://www.ozbargain.com.au/node/343693
Sep '17 - $395 for 90K points ($4K min spend): https://www.ozbargain.com.au/node/331351
Jul '17 - $395 for 75K points ($4K min spend): https://www.ozbargain.com.au/node/317533

Financial Credit Card Frequent Flyer Qantas Frequent Flyer Reward Points

Related Stores

National Australia Bank Group (NAB)
National Australia Bank Group (NAB)

closed Comments

  • Slo20 on 31/07/2018 - 07:14
    +15

    +1 for a nice first post. Great reference to past deals. Only critique is to remove ‘qantas Lounge pass’ from your keywords as it doesn’t appear included.

    • Sean R on 31/07/2018 - 07:36
      +8

      Thanks! I'm a first-time poster but long-time lurker, so I've read my fair share of deals over the years.

  • Retailrecommprice on 31/07/2018 - 07:17

    What are some of the better offers out there?

    • Slo20 on 31/07/2018 - 07:21
      +6

      Anz always has the best offer. But ones like this can be good fillers between the 12 month periods.

    • Sean R on 31/07/2018 - 07:51
      +7

      As Slo20 said, the ANZ Frequent Flyer Black regularly has great $0 deals. Right now, the Westpac Visa+Amex bundle with 120K points is attractive if you don't mind the two credit enquiries. St George also has a pretty good deal with 90K points for $179 annual fee via Point Hacks referral ($100 off promo ends today).

      • brett-au on 31/07/2018 - 12:49

        Am rolling the dice to see if next month's St George deal is better..

  • mcnugget on 31/07/2018 - 08:04

    A decent deal and appreciate popping the cherry, but 115k was subjectively better value at ~75k points minus the fee.

    This one is ~60k at 1c a point if cashed in to recover the fee.

    • Sean R on 31/07/2018 - 09:50
      +3

      Thanks, mcnugget. I think what you're saying is that if you sold the points at 1c each, you'd have made more profit with the previous deal. You're right, but the ROI (return on investment) was worse in the previous deals, because each point cost more.

      My 'best value' assertion was based on how much it costs (in fees) to acquire each point. In other words, how much is each point costing me? I want to 'buy' points at the lowest cost possible. For the previous deal to be on par with the current one, the 115,000 points should have cost just $377.20, or provided 124,900 points for the $395. (90,000 at $295 = $0.003277778 each; 115000 at $395 = $0.003434783 each).

      I acquire points to redeem towards flights, so the cheaper each point is for me to buy, the better value I'm getting on the flights! Understand where you're coming from, though.

      • mcnugget on 31/07/2018 - 12:52

        Understand the ROI if you included the fee, but if you negate the initial investment (might even get 1.1c), you would have 75k points for $0.00000000 each.

        Redeeming them is better value than the market price (jagged a few flights in F over Xmas ~10c), but in market terms this makes it something for nothing. Could always use the $300-400 you make to buy them back if short on a redemption or to cover the taxes on an award flight.

        • jdogg on 31/07/2018 - 16:53
          +1

          You would have to actually sell the required amount of points to negate the annual fee. This can only be done once, maybe twice if you're lucky (unless selling them to a legit family member). If you're chasing points through credit card deals constantly you have to look at your ROI.

        • mcnugget on 31/07/2018 - 18:59

          Appreciate the risk however when there is an option to convert points to cash in a market that clearly exists, it's a fairer way to assess market value and ROI.

          Hold or sell the 25k points for the additional $100, it's still $150 convertible profit based on what the market says (not how someone feels or subjectively values redemption).

          Return on investment is based on what the return/benefit is for something you can sell divided by the cost of the investment, not just what you buy it at per unit.

        • jdogg on 31/07/2018 - 19:24
          +1

          @mcnugget:
          Well yeah there is a market, but it's unwise to use that to work out the value of the points if you will never sell them because you chase points. If someone was to take up this offer, sell some points to get their annual fee back and then never chase points again I would say sure that is a good way evaluate the points (free points!). However most of us on here will never see the cost of the annual fee returned to us in cash or monetary value. It's an expense.

        • mcnugget on 31/07/2018 - 20:27

          @jdogg:
          Whether you choose to sell or not the option is available.

          Even if you went the other way and valued return at say 5c redemption cost, 25k more points (~$1,250) for $100 trumps zero points @ 5c for $0.

          Return is the benefit received, not the investment itself. Probably agree to disagree, but appreciate the banter.

        • Sean R on 31/07/2018 - 20:42
          +1

          @jdogg:
          Exactly how I see it. I like acquiring points to redeem. The less I pay for the points, the more value I get when I redeem.

          I agree that the market calculation isn't as simple as it seems. As you said, if you exclude one-off transactions there are a bunch of other factors.

          There are limits on the ability to acquire credit card sign-ups - such as credit score hits from multiple apps, the limited number of card providers offering cards, and 'lock out' periods - and there are risks in selling points, like forfeiting points, having rewards flights cancelled, and account suspension/bans.

          @mcnugget:
          Okay, but the definition of ROI doesn't necessarily include a return on something you can sell. When I 'buy' points with credit card bonuses and then turn my points into flights worth thousands of dollars I'm getting a return, despite not being able to on-sell the flights.

          You're right that each person's ROI when redeeming flights is subjective and variable. Your ROI on those F flights during peak period - great work nabbing them! - might be different to the ROI I get with my next flight, even if we pay the same for each point, but we both get a return of some sort.

          However, both of us inevitably get a better ROI if the cost per point is lower. Given this, I reckon cost per point is the most objective way of valuing deals. Each to their own, though!

        • Sean R on 31/07/2018 - 21:15
          +2

          @mcnugget:
          Just saw your last post after I posted this. You're right that as long as your redemption rate is higher than the cost per point, paying $100 for 25K points is rational - assuming the aim is to get as many points as possible if they're under the redemption value.

          That kind of thinking makes sense if I'm thinking about say, a business marketing budget. If I'm guaranteed a profit it makes sense for me to keep pouring money in, even if the marketing costs are higher as I keep spending. However, my aim isn't the same with QFF points.

          I reckon most people would think that 25K for $100 is a pretty bad deal. That's because the cost per point is worse than lots of other deals, and most people aren't driven to gain as many points as possible, as quickly as possible.

          If there's a limit to how much flying you're doing, there are diminishing returns. Maybe you could get another 120K points at a pretty high cost per point and theoretically redeem those at a profit. However, if you already have a bunch of points, getting more at an increased cost per point is not worth it.

          One person might be happy generating 500K+ each year by churning cards without paying anything like $100 for 25K, and another person might be constantly flying premium cabins and just want as many points as possible.

          Whether or not it's worth it still comes back to cost per point, IMO. +1 for the discussion, though!

        • mcnugget on 31/07/2018 - 22:26

          @Sean R:
          Not sure I'd say receiving 25k points for $100 down then turning around to sell them for $250 is such a bad deal (aims, intentions and redemptions aside).

          Would wager folks on here have done more and taken higher risks for less coin.

          Different strokes for different folks.

  • cynicor on 31/07/2018 - 08:26

    Anyone know offhand the "lockout" period for this card if you've held it before?

    • tajid on 31/07/2018 - 08:46
      +1

      12 months

      • CyberMurning on 31/07/2018 - 09:07

        yes standard is always 12 so far i see

        • Sean R on 31/07/2018 - 09:56
          +1

          Yeah, from memory AMEX is 18 months, and the rest are 12 months.

    • Meconium on 31/07/2018 - 11:24
      -2

      I'm pretty sure NAB is the only bank that doesn't care, i.e. no lockout period afaik.

  • MrBr0 on 31/07/2018 - 08:36

    12 months

  • frewer on 31/07/2018 - 08:47

    Does 'paid rent' constitutes as 'Spend' ?

    • glassyan on 31/07/2018 - 09:07
      +1

      If your RE agent allows it, sure, but expect a hefty surcharge though.

      Just keep in mind nearly all RE company will not accept credit card via BPAY, it will be via a different system that have setup specifically for this purpose.

      • frewer on 31/07/2018 - 20:11

        Right, thank you for that. I dont think I can spend 4k/60days …

  • CyberMurning on 31/07/2018 - 09:08

    damn now i regret applying for citi cc. only around $450 profit after selling points

  • spuderump on 31/07/2018 - 09:18
    +1

    Annual fee is a killer.

    • PlasticSpaceman on 31/07/2018 - 09:54

      Definitely makes it less attractive, but still not too bad. Assuming you get around $0.007 per point then you're getting effectively $630 worth of points. Less the annual fee, you are clearing $335 or about 48,000 points - plus the 4,000 points or more you will get from using the card(s). The current Westpac deal (https://www.ozbargain.com.au/node/388942) of 90k points for $0 (with a minimum credit level of $9k - $6k for Visa, $3k for Amex) is of course better if you are eligible and can meet the spending criteria. :-)

  • Archi on 31/07/2018 - 09:26

    do you guys always sell the points after to gain the profit or do you guys normally accumulate to use.?

    • PlasticSpaceman on 31/07/2018 - 09:42
      +3

      No. Some people do, but there is a significant risk associated with that - basically, if you are found out (buying or selling) then you risk losing all your points and being banned from the FF program. Part of the T's and C's include "7.1 Members must not:…… (iii) selling, assigning, transferring or acquiring, or offering to sell, assign, transfer or acquire any Reward, Benefit or Qantas Points other than in accordance with these Terms and Conditions;" (https://www.qantas.com/au/en/frequent-flyer/discover-and-joi…)

      I save them up and use them for flights for the family.

    • Sean R on 31/07/2018 - 09:54
      +1

      I also redeem points for flights, and it works out that I get much better value than the 1-1.2c p/point that people commonly advertise on OzBargain.

      • dreamtime on 31/07/2018 - 10:49

        especially for business class. You can sometimes get 5c/p or better depending on the flight

        • Samsungnote10 on 31/07/2018 - 10:53

          How do you get 5c.

          The best I can seem to find is 4.5c with first class.

          Or are you referring to rtw?

        • dreamtime on 31/07/2018 - 11:00

          @hellohello123: sorry, miscalculated. Should have been 4 cents.

        • Samsungnote10 on 31/07/2018 - 11:01

          @cartsmate:

          Ha.. No stress. You just got me into research mode
          I just did a rtw one world for one trip and managed to get 4.99c!

        • bargainfinder on 31/07/2018 - 11:38

          @hellohello123:
          Link please?

        • Samsungnote10 on 31/07/2018 - 13:14
          +3

          @bargainfinder:

          It wasn't a Link but my on the back of my napkin calculation my first example was 4.1 and second one 4.9, even got one at 5.9c

          Singapore kris
          296k points + $300 taxes F to europe
          Price $12.5k+
          4.1c

          Qantas rtw oneword F
          420k points
          Sydney-Johannesburg-london-NY-HK-syd
          Price $27.5k
          Taxes $2.5k
          5.9c

          Syd-South America-syd-Europe, South Africa - syd
          Price : $22.5k
          Taxes :1.8k
          4.9c

          Edit: I only got to 5.9c when I did an extreme itenrary, pot luck to be honest

        • bargainfinder on 31/07/2018 - 13:21

          @hellohello123: Thanks for your reply.
          I've never travel anywhere apart from my home country and Australia.
          How do you organise these RTW tour? Do you need visa for entry in every country? Is it a continuous flight or do you spend a couple of days in each destination?

        • dlcx on 31/07/2018 - 17:12
          +1

          @bargainfinder:

          Perhaps this link may help you out.

          https://www.pointhacks.com.au/qantas-round-the-world-classic…

  • twofoursix on 31/07/2018 - 10:02

    Hello all,

    I have couple of Q in relation to above matter, hope one yous can help me out.

    1) when you say selling points for 0.01c a point, who do you sell this points to? Is there a grey market that you can sell these points?

    2) say after applying the CC and claim the 90K or 75K points, can i cancel the card after claiming the points, then would they forfeit the points or do they still end up in my account?

    I am very new to these points side of the universe & i am thinking of starting it now, is it too late???

    • Sean R on 31/07/2018 - 10:18
      +3

      Hey twofoursix, it's definitely not too late to start!

      RE: #1, people are selling points for ~$0.01 (1 cent) per point. People sell points on Gumtree and in the OzBargain classifieds. As PlasticSpaceman said, this is against the Qantas terms and conditions.

      RE: #2, that is exactly what many people do! Once the points hit your Frequent Flyer account you can cancel the card. Usually you can't gain sign-up points if you've had a similar card from the same company in the last 12 months (AMEX is 18 months), so it's best to cancel the card as early as you can. This NAB deal is attractive to people who can't take advantage of the very best offers around at the moment because they've already held those cards in the past 12 months, but who still want to acquire more points. If you're just starting out, check out the cards I mentioned in my deal post first; linked in comments earlier from Slo120 and I - you can 'buy' the points cheaper with some other banks.

      Note that I get much better than 1c value by redeeming points for flights, but your redemption rate will obviously depends on how often you travel, where you go, etc.

      Hope that helps!

      • twofoursix on 31/07/2018 - 10:31

        Thanks Sean R for taking time to explain.

        But this card has a fees of $295 for 90K points so to be profited from this card the 90K points should at least have a return of over $295 to call it as a profit.

        I am also exploring other option such as 0% fee on BT, do you know any banks that have this offer at present?

        Thanks again my fellow bargainer……

        • dreamtime on 31/07/2018 - 10:58
          +5

          I always find using the points on business class is the best value. For example, if you took up this 90k offer, that can almost get you a one way business class flight from Brisbane (or sydney or melbourne) to LA. Those flights are $3000+ each way, so even with taxes and fees (around $250-300) you'd come out 2.5k in front. These point deals make business class possible and affordable, and its awesome!

        • Sean R on 31/07/2018 - 11:11
          +2

          No problem.

          Exactly right. At 1c per point the points are worth $900, but you can get points cheaper with other cards. Redeeming points for high value flights - whether it's business, as cartsmate has mentioned, or a multi-city 'round the world' fare - can mean you make a decent four figure 'profit'.

          If you're carrying credit card debt ATM then you're probably better off using a balance transfer to pay off the debt, and then jumping on the rewards cards. I find these the best sites to compare credit cards:
          https://www.canstar.com.au/balance-transfers/
          https://www.finder.com.au/credit-cards/balance-transfer-cred…

          There are always heaps of balance transfer offers. The four most important things to consider are the length of the interest free period, the revert rate, the establishment fee and the annual fee.

        • twofoursix on 31/07/2018 - 11:29
          +1

          @dreamtime:

          Thanks for your explanations….

        • PlasticSpaceman on 31/07/2018 - 12:12

          @dreamtime: Yep - 96,000 points in fact for business one way to LA. Keeping in mind that to get the 90k points you will need to put at least $4k on the card which will in turn earn points so you will only be 2k points short. Only 72k points for premium economy but it's worth the extra points IMHO. 144k points for first, which is probably not worth it unless you have a lot of points to burn.

          You can always use a combination of points and cash to 'bid' on an upgrade, but usually it's way more cost effective to just use points.

        • whoopdeedoo on 31/07/2018 - 13:50

          @dreamtime:

          So whats the process to obtain these upgrades?
          Do you buy a economy ticket first then call in and ask for a upgrade with points?
          Or just book business class upfront and use a combination of points and $$?

        • Sean R on 31/07/2018 - 19:01

          @whoopdeedoo: Upgrades are only assigned shortly before flying, and depend on your status class (and availability, obviously) - in my experience, you can't bank on an upgrade if you have low status.

          If you want business class, best to book the fares up-front with points. Note that it's best to pay for the whole fare with points (excl. compulsory taxes/surcharges), rather than take up the points and pay option Qantas provides.

        • dreamtime on 01/08/2018 - 11:27

          @whoopdeedoo: You book through Qantas' website. When you log in and search for a flight, there is an option for "classic rewards". These are the flights that you book with points. The available rewards flights for that day will come up, you select what class you want, and then book as normal. On the checkout page, it will show you the total number of points required, and the taxes and fees.

          never use Qantas' points+ pay thing. Its always been really expensive whenever I have looked.

          Another thing, when booking flights to the US, Select American Airlines flights (they show up when you search just like Qantas flights). The fees are usually less than half of Qantas. A quick search I just did shows Sydney-LA with Qantas having $300 in taxes and fees (each way), while AA is $140 each way. Huge savings.

      • starburstyellow on 31/07/2018 - 14:29
        +1

        Good reminder on buying and selling: https://www.ozbargain.com.au/node/237052

  • Samsungnote10 on 31/07/2018 - 10:15

    OP says "not valid if you have received bonus points in the last 12months.

    Does this mean 12 months since you received bonus points or since you cancelled the card?

    • Sean R on 31/07/2018 - 10:22

      I pulled that straight from the deal page. In context:

      'This bonus points offer is not available to existing customers who have received or are entitled to receive NAB Qantas Rewards Bonus Points for a new personal NAB Qantas Rewards credit card in the twelve months prior to the opening of a NAB Qantas Rewards Signature Card, NAB Qantas Rewards Premium Card or NAB Qantas Rewards Card . Offer is not available when closing/transferring from another NAB credit card account or in conjunction with any other NAB offer.'

      The last sentence is pretty ambiguous - what do they define as 'closing'? What if I close today and apply tomorrow, or in a week, or a month? Putting that aside, it seems to be referencing 12 months from receiving NAB Qantas sign-up bonus points.

      • Samsungnote10 on 31/07/2018 - 10:29

        Nice find, I couldn't find it on my phone.

        That being said
        “when closing/transferring from another“
        Is quite ambiguous but if you got very technical, means if you continuously hold another nab product, so as you said, if you have any sort of gap, it's fine! But I'm not sure what their intentions are

        Not sure if I'm willing to test it :)

    • arctan on 31/07/2018 - 14:37

      I used to have NAB reward card (non Qantas version) and I closed it off 6 months ago.
      Am I able to get this card as it's a Qantas reward not the normal NAB reward card?

  • yolow on 31/07/2018 - 10:28

    What is the minimum income to apply? I'm assuming it'd be around 75k(similar to ANZ's one?) - Can somebody confirm this?

    • sageybadegey on 31/07/2018 - 15:24

      I would love to know the answer to this one as well.

    • Godric on 31/07/2018 - 16:55

      It's not always solely based on income, aslong as you can service the limit you're after/min limit without financial hardship after expenses etc.

  • tuannn on 31/07/2018 - 10:53

    How long will it take for the points to hit your Qantas Frequent Flyer account after the spending requirements are met?

    • spuderump on 31/07/2018 - 11:38

      Usually 60 days.

      • bowtiehoon on 31/07/2018 - 12:01

        Mine hit the end of the billing cycle of the month I spent the criteria, not sure if it’s the same for everyone

  • bargainfinder on 31/07/2018 - 11:34

    Whats the best point per $ spend earning card at the moment? If you spend 20k every month on a Non-amex card?

    • Carbon Door on 31/07/2018 - 12:39

      What do you do to spend 20k every month??

      • follow on 31/07/2018 - 12:40

        Shopping?

      • bargainfinder on 31/07/2018 - 13:17
        +1

        Supplies for my brother's business

  • kojihama on 31/07/2018 - 12:08

    Does having an excessive number of credit cards affect your credit rating? I'm a bit cautious about jumping on the band wagon for this reason…

    • Tony-Abbott on 31/07/2018 - 13:48

      Why does your credit rating matter to you for? Honestly makes not much difference if getting a home loan.
      Currently in Australia it's just a big marketing tool for these companies to get your details and sell them off to the highest bidder.

      • Samsungnote10 on 31/07/2018 - 18:04
        +1

        If it's the difference between getting a loan for the biggest purchase of most peoples life and not, then yes it's damn important.

        Also it affects eligibility of other cards if you are churning

    • JetBombat on 31/07/2018 - 19:14

      Yes

  • dtpearson on 31/07/2018 - 13:46

    From experience, first years fee gets applied on the first months statement, not at the end of that 12 months. So don't think you can cancel the card after you get the points, but before the first years fee. You will be paying the $295 before you get the points.

  • lltravel on 31/07/2018 - 13:46

    does anyone know how you can spend the minimum amount and then use a percentage of it to get it back

    for eg pay yourself 5k through western union?

    • Tony-Abbott on 31/07/2018 - 13:50

      Get a square reader, pay the 2% commission and $20 something for the reader.

      • hyp3dup on 01/08/2018 - 20:04

        A 1.5 point earning AMEX card paired with this reader which has a 1.9% fee allows you to earn infinite points at 1.27c/point? Is this legit?

  • arctan on 31/07/2018 - 14:35
    +1

    You put down 900k points… it should be just 90k

    • Godric on 31/07/2018 - 16:56
      +1

      Use the Report function.

  • arctan on 31/07/2018 - 17:10

    If you have home loan with NAB I am sure you can get the annual fee waived.

  • Rosace on 03/08/2018 - 16:46
    +1

    Thanks, applied on 31/07, approved on 01/08 and card received on 03/08.

  • cryinoutloud on 04/08/2018 - 08:19

    Anyone tried clicking through to apply in the last couple of day? Looks like the form is broken.

  • loveyou3000 on 08/08/2018 - 18:49
    +2

    Currently can also get an extra 10,000 Qantas Frequent Flyer Points (making it 100k worth of points) through using the below Qantas offer (expires 19/8/18):
    https://www.ozbargain.com.au/node/395374

    OP - Maybe add a point in your description to reflect this. :)

  • cryinoutloud on 09/08/2018 - 10:50

    I just called nab and apparently they're having issues with their new third party system that handles the points being processed to Qantas. That was my third call after not receiving points after two statements hence my neg.

    • Suspect420 on 30/08/2018 - 15:14

      Interesting - i am yet to receive my points as well.

      Did they mention how long it will take?

      I'm onto my third statement and no points yet

  • y_owez on 12/08/2018 - 18:18

    Hi all,
    Would I have better chances to get this if I apply on current job - I assume need to provide payslips?

    or when I moved to a new job ( higher pay about 15%) but no payslip?

    • tajid on 13/08/2018 - 16:59

      Higher pay of course better chance but they will need at least 2 months proof of salary on your bank statement - by then the promotion migjt be different?

  • tajid on 16/08/2018 - 18:44

    Just got thr card in the mail,
    Can’t see anywhere mentioning 90k bonus points on the paperwork.

  • Gooddeal21 on 20/08/2018 - 16:01

    Usually I stay away from the cards with annual fee, that's just my choice, I pick the one with bonus points, cancel after minimum spend and repeat. Because we were applying for a home loan we had to wait a bit before applying for some, as you get a hight credit limit and that affects the amount you can borrow.
    I usually use points for flights but sometimes hotels or stuff on qantas store when on special, I know it's not a good value per points but I see it as free money :-)

  • Gelato on 22/08/2018 - 22:06

    Anyone has any idea on minimum requirement for this card?

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