Qantas’ ‘Premier’ Mastercard ranks 26th in comparison of 43 rewards cards

mozologo

Qantas’ ‘Premier’ Mastercard ranks 26th in comparison of 43 rewards cards

A new Qantas branded credit card fails to deliver on its ‘Premier’ name, ranking 26 for net value in a market-wide comparison by Mozo.com.au of 43 rewards cards earning Qantas Points.

Mozo evaluated the QFF rewards credit card market using the average annual credit card spend of $18,000, and found the new Qantas Premium Mastercard could deliver just $70 in net annual rewards value once the annual fee is taken into account.

“Qantas’ new Premier Mastercard fails to take off for the average cardholder, ranking just 26th in our comparison of Qantas Frequent Flyer rewards cards and earning up to $300 less rewards value each year than the top-ranked American Express Qantas Discovery Card,” says Mozo Director Kirsty Lamont.

“There’s better news for big spenders with Qantas’ new card at least making the top 10 for those swiping $60,000 a year, however the so-called ‘Premier’ Mastercard is still far from first place with Qantas delivering $464 less value than the top-ranked American Express Qantas Ultimate Card.”

“Loyal Qantas travellers will get the best value out of the card, with Qantas offering 2 points per dollar spent with the airline and 1.5 points per $1 spent on eligible overseas purchases, compared with the standard earn rate of 1 point per $1.”

Mozo calculations show that the average cardholder spending $18,000 a year on the Qantas Premier Mastercard would earn 1.13 Sydney to Melbourne return flights.

“The new card comes at an interesting time in the rewards card landscape with many banks slashing the value of rewards programs as regulations kick in around interchange fees and increase the cost of funding rewards cards,” says Lamont.

“A number of rewards cards providers have turned to perks like airport lounge visits and free flights to lure in customers as the value of rewards points drops, however Qantas has taken a somewhat miserly approach merely matching competitors offering 2 lounge invitations each year and offering a discount on selected domestic fares.”

The new Qantas Premier Mastercard has an annual fee of $299 ($149 in the first year) and a 19.99% interest rate.

To find out which card reward programs deliver the most value, consumers can crunch the numbers using Mozo’s Rewards Revealer, which compares 100 rewards cards from 39 providers based on an individual’s spending habits and preferred rewards type.

Source = Mozo.com.au
Pin It

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>