The Qantas Premier Platinum credit card has emerged as the top pick in two recent comparison site rankings of frequent flyer cards.
Both RateCity and Finder have given the Qantas card their top rating, citing the large number of bonus points on offer and the reduced fee in the first year.
The card has an earn rate of one point per dollar on all purchases up to $10,000 a month and 0.5 points per dollar after that. Cardholders earn 1.5 points per dollar on international purchases and additional points on select Qantas product purchases.
There is currently a sign-up bonus. Consumers who apply before May 30 and spend $3500 on eligible purchases in the first 90 days get 70,000 bonus points. And they will receive an additional 30,000 points within 12 weeks of paying their second year’s annual fee.
The $299 annual fee is reduced to $149 in the first year. The interest rate is 19.99 per cent.
Based on a consumer who spends $20,000 a year on the card over three years, and does not incur any interest charges, RateCity estimates that a cardholder would end up with a gain of more than $1900 after three years.
Finder says a cardholder could use the 100,000 bonus points to fly return from Perth to Singapore in business class (50,000 points each way), one way from Sydney to London in premium economy (96,000 points) or Melbourne to Los Angeles in premium economy (96,000 points).
The card also offers a zero rate balance transfer for 18 months.
RateCity also gives high ratings to Virgin Money’s Virgin Australia Velocity Frequent Flyer, ANZ’s Frequent Flyer Black, the American Express Qantas Utimate Card and St George Bank’s Amplify Signature (Qantas) card.
Finder gives honourable mention to the St George Amplify Signature card, Virgin Australia Velocity Frequent Flyer and American Express Velocity Platinum.
Qantas has been making a concerted push for share in the frequent flyer card market. In February, it launched an ‘ultra-premium’ card with benefits including first class lounge access, a concierge service and flight discounts.
The Qantas Premier Titanium Mastercard, which is being issued by Citigroup, has an annual fee of A$1200 and a minimum annual income requirement of $200,000.
It offers two Qantas points for each dollar spent overseas and up to 1.25 points for each dollars spent in Australia up to $12,500 each statement period.
Card holders can claim a 10 per cent discount on Qantas operated flights for up to two bookings a year – international and domestic. They can also claim 20 per cent “bonus status credits” on Qantas flights.