National Australia Bank
Up to 130,000 Qantas Points & $250 cashback; min. $15,000 limit; 0% on balance transfers for 12 months. Conditions, fees, and criteria apply.
The NAB Qantas Rewards Signature Card currently offers a compelling welcome bonus: up to 130,000 Qantas Points and $250 cashback for new approved applicants. To qualify, you need to spend at least $5,000 on everyday purchases within the first 90 days, and keep your card open for 12 months. The card has a minimum credit limit of $15,000, and minimum monthly repayments apply.
Besides the lucrative points, the card also features a 0% p.a. balance transfer offer for 12 months (a 3% transfer fee applies). Interest rates and other standard charges may vary, so carefully consider the terms to ensure this card aligns with your financial habits and goals.
How to Apply: Step by Step
- Check your eligibility and credit criteria, ensuring you meet the minimum income and residency requirements.
- Gather your identification and financial documents before starting your application.
- Fill out the online application form, providing accurate personal and employment details.
- Submit your application and wait for approval, which usually arrives promptly if all information is correct.
- Once approved, activate your card and start spending to meet the bonus requirements.
Pros of the NAB Qantas Rewards Signature Card
The standout feature of this card is the generous sign-up bonus, particularly valuable for frequent Qantas customers and travellers seeking rapid points accumulation. Additionally, the $250 cashback adds instant value.
Access to exclusive NAB Qantas perks, insurance options, and a competitive balance transfer rate for the first year are added benefits. The high minimum credit limit reflects its premium status and suitability for larger spends.
Cons to Consider
The card’s minimum credit limit of $15,000 may be restrictive or unnecessary for some applicants, potentially excluding those who prefer lower limits.
High ongoing fees and the need to meet significant spend within a set period can also deter applicants who don’t regularly use credit for everyday purchases.
Verdict
The NAB Qantas Rewards Signature Card is a great pick for those seeking maximum rewards, travel benefits, and cashback incentives. However, the high spend and credit limit requirements may not suit all users, so assess your needs before applying.