Qantas has launched a brand new premium credit card aimed at high-income earners. The Qantas Premier Titanium MasterCard comes with a range of unique benefits, but has an eye-watering $1,200 annual fee.
In Australia, only the Amex Platinum and Amex Centurion charge cards have a higher annual fee – and they arguably come with many more benefits to justify the cost.
So, other than a fancy metal card, what benefits does the Qantas Premier Titanium credit card offer for its $1,200 annual fee?
There are a range of perks on offer. A key selling-point is the ability to earn 20% bonus status credits on Qantas flights booked using this credit card. This benefit applies to flights that are marketed and operated by Qantas. This benefit also applies to an additional cardholder, which costs $100 per year to add. However, the bonus status credits don’t count towards attaining Platinum One status, lifetime status, loyalty bonuses or the Platinum Bonus Reward. The bonus status credits also cannot be combined with a Double Status Credit promotion.
Other card benefits include:
- Two annual Qantas First Lounge passes for use in Sydney, Melbourne or Los Angeles;
- Two annual Qantas lounge passes for use at domestic Qantas Club or Qantas international Business lounges;
- A 10% discount on Qantas airfares up to twice per year;
- Complimentary Qantas Wine Premium Membership;
- Ability to earn points with the Qantas Wellbeing App;
- Overseas travel insurance.
With this card you’d earn 1.25 Qantas Frequent Flyer points per dollar, plus an additional 2 Qantas points per dollar spent with Qantas or overseas. However, the higher earning rate is capped. After spending $12,500 on the card each month, the base earn rate reduces to just 0.5 Qantas points per dollar.
The Qantas Premier Titanium card, issued by Citibank, does have the highest Qantas points earning rate of any Visa or MasterCard product in Australia. But there are several other Australian credit cards that also offer 1.25 Qantas points per dollar and don’t have any monthly earning caps, including the Frequent Flyer Diners Club and Westpac Altitude Black Amex cards. The Qantas Amex Ultimate card currently awards 1.5 uncapped Qantas points per dollar spent, but this will reduce to 1.25 Qantas points per dollar from mid-April.
Qantas makes no secret of the fact that this card is aimed at high-income earners. To apply for the card, you would need to earn at least $200,000 per year.
If you’re thinking about applying for the card, Qantas is sweetening the deal with 150,000 bonus sign-up points for new Premier Titanium applicants that apply by 30 April 2019 and spend at least $5,000 on the card within 90 days.
What do you think – is this a worthwhile credit card to add to your wallet? Join the discussion on the Australian Frequent Flyer forum: Qantas Premier Titanium card (150k QFF points, $1,200 annual fee)