Get to know your Qantas Points earning credit card

If you’ve never had a credit card or a rewards credit card before, you’ve probably heard the term a lot, but may not completely understand the process. Credit cards are one of those things in life you have to research to understand – or you can just read this article for a quick summary and save your time for better things, like planning your next getaway. 

How do credit cards work?

In a nutshell, you can use credit cards to pay for something immediately, with money on loan from the bank. Once you’ve made the purchase, you often have up to 40-55 days to pay it back before interest starts being charged (see below). After this interest-free period you can pay it back in full at any time, but you must regularly pay any minimum monthly repayments until it’s paid off. 

Think of it as your own little loan service, via a plastic card or a virtual credit card.

What are interest rates?

Both regular credit cards and rewards credit cards charge interest on money owed. After any interest-free period, interest will begin to accumulate on a monthly basis until you repay the amount. Choosing a credit card with a lower interest rate means less interest charged on the amount owed each month. Typically there are two interest rates: one on card purchases, and another on cash withdrawals.

What’s a credit limit?

The credit limit refers to how much you can spend all up, so if your credit limit is $5,000, you can’t just buy that lovely house next door with the pool, as it probably costs more than the $5,000 limit on your card. But you can buy and earn points on other eligible purchases up to a total of $5,000.

And now the good stuff… rewards

All credit cards can be quite practical, but rewards credit cards can offer so much more. A rewards credit card is a credit card that has a rewards program attached to it, for example a Qantas Points earning credit card lets you earn Qantas Points when you use your card for eligible purchases, which you can then use for anything from travel and accommodation, to clothes and kitchenware on the Qantas Marketplace.

And it’s not just about Qantas Points. Some of these credit cards also offer benefits in the form of complimentary travel insurance, a concierge service, Travel Credits or even complimentary Qantas Club Lounge Invitations for every year you hold the card.

How do I earn Qantas Points using a credit card?

The first way to earn points is a bonus offer for new cardholders – depending on the credit card, you could receive up to 100,000 bonus Qantas Points if you are approved and meet the eligibility criteria. It also pays to look out for promotions that offer even more bonus points for those who are first time cardholders, i.e. you have not held any Qantas Points earning credit card in the last 12 months.

Then, day to day, Qantas Points are also earned per dollar spent on your credit card on eligible purchases. Each card will offer a different earn rate, so make sure you compare cards before signing up. And if you’re a big spender, there may also be a cap on how many points you can earn each month. Take some time to compare the features and current offers of each Qantas Points earning credit card.

Which is the best Qantas Points earning credit card for me?

There’s no one-size-fits-all answer to this, as finding the perfect credit card for you is about balancing earn rates, annual fees, caps, interest rates, and taking into account how much you might use it. To make an informed choice, simply read the information available on the benefits of each card, while also taking into account your own financial situation and needs.

How do I collect and use my Qantas Points?

Once your credit card is linked up to your Qantas Frequent Flyer account, your Qantas Points will be automatically added to your account. The points earned on your spend are usually added to your account on a monthly basis, around the same time each month. Check with your bank or financial services provider for further details. You can use them (alone or with a combination of points and cash – called ‘Points plus Pay’) to book flights and hotels, or buy home electronics, homewares, toys, gift cards and more on Qantas Marketplace.

Compare  our current Qantas Points earning credit card offers.