The NAB Qantas Gold credit card, part of NAB‘s range of Qantas or Velocity Rewards linked cards, has two cards linked to one account so that you can maximise the number of Qantas Frequent Flyer points earned. This card isn’t all about earning rewards though as it also packs some other very useful features, which we’ll come on to later.

Frequent Flyer Points

You’ll probably be looking to earn as many points as possible, so this dual card account may be of interest to you. Some frequent flyer cards have got only one card linked to the account, which means you can only earn rewards at a single rate.

The NAB Qantas Gold credit card, however, has American Express and Visa branded cards, both with different rewards ratios. Spending with the American Express version of the NAB Qantas Gold credit card is rewarded at the higher rate of 2 QFF points per $2. With the Visa branded version of the NAB Qantas Gold credit card, this ratio drops to 2 QFF per $3. Both earnings ratios apply for the first $3,000 spent. Thereafter you’ll earn 1 QFF point per $2 with the Amex and 1 QFF point per $3 with Visa. There is a cap at $10,000.

Points earned can be redeemed for flights with Qantas or Jetstar to various domestic and international destinations.

Other Rewards

As a card targeting frequent travellers, the NAB Qantas Gold credit card comes with a range of insurance cover aimed to make travelling easier and safer. Cardholders will get complimentary international travel insurance, which, importantly, only applies to travel purchased with your NAB Qantas Gold credit card that cost $500 or more. Therefore, if your flight, train ticket, bus journey, etc. costs less than $500, you won’t be covered. You’ll also get flight inconvenience cover for domestic flights that have been cancelled or delayed, or if you’ve had to change your plans. Transport accident damage covers you against injury while travelling and the domestic hotel burglary policy will cover you against the theft of items from a hotel or motel room in Australia.

The other insurances are price protection insurance, purchase protection insurance and, lastly, extended warranty insurance.

Pros

With an Amex and Visa branded cards, you’ll be able to earn more QFF points faster than you would if you had a single card with one fixed rate of rewards. This is one of the best points about this card. The fact that it comes with so much insurance cover is an added bonus, helping you to travel safer when you buy your tickets with your NAB Qantas Gold credit card.

One of the other benefits of this card, and one that is relatively uncommon with frequent flyer cards in general, is the balance transfer offer. At 4.99% p.a. for 6 months, you can switch to the NAB Qantas Gold credit card and save money on your existing debt. (Note that a balance transfer will not earn you any extra QFF points.)

The $145.50 p.a. annual fee is cheaper than other cards with similar features such as the American Express Velocity Platinum and ANZ Platinum Frequent Flyer.

The interest changed on purchases (20.24% p.a.) and cash advances (21.74% p.a.) is about average for this kind of card.

Cons

The amount of QFF points you can earn with the NAB Qantas Gold credit card is tiered and capped. The higher rate applies to the first $3,000 spent with either the Amex or Visa card. If you use your card sparingly, then the tiering of rewards won’t affect you too much. However, if you regularly spend more than $3,000 per month, you’ll be earning at a much slower rate. Such people would be better looking for a different card without tiering such as the ANZ Frequent Flyer credit card. Also, if you spend more than $10,000 per month, any spend above that mark will not be rewarded. In this case, you’d be better to look for an uncapped card here.

There is also some debate around credit card insurance and how much protection it provides. It is no doubt a useful feature, but if you are already covered by a dedicated travel insurance policy then it would be worth comparing the two before cancelling an existing policy. Of course, on the other hand, anyone travelling without insurance cover will be better off with this card.

Eligibility

Make sure that you are an 18 year old, or older, citizen of Australia with a taxable income of at least $50,000.

Is This Card Right For You?

If you want a card that lets you earn QFF points and would find the complimentary insurances worthwhile, but don’t spend much more than $3,000 per month, then the NAB Qantas Gold card is a strong offer. If you spend more than that, there are other offers better suited to you.