The new qantas platinum credit card

Qantas to launch its own Credit Card targeting Frequent Flyers

10 May 2017

Qantas to launch its own Credit Card targeting Frequent Flyers

Qantas on Friday confirmed long-speculated plans to enter the Credit Card market by offering its own credit card through a tie-up with Mastercard and investment bank Citi. Frequent flyers will be able to earn points with the Platinum Qantas Mastercard by the end of the financial year.

Qantas Loyalty chief executive Lesley Grant said the Qantas Credit Card was a response to the strong consumer demand for points as part of everyday spending.

"Around 35 per cent of credit card spend in Australia earn Qantas Points, which shows strong interest in this type of reward but also plenty of room for growth," said Ms Grant.

Each of the major banks (including American Express, ANZ, HSBC, Westpac, St. George, Bank of Melbourne, NAB and Bankwest) currently offer credit cards that can earn Qantas Points per dollar spent. However, this new product will be the first that is ultimately owned by Qantas that should result in some enticing Frequent Flyer benefits for cardholders.

Qantas Loyalty chief executive Lesley Grant says the new Qantas credit card is about giving customers more choice.

"Ultimately, it's about giving customers more choice by widening the range of cards that you can earn points on and adding some unique features that only Qantas can offer."

Qantas declined to release any information on how many the Qantas Point earn rates the new card will offer or other conditions ahead of a more detailed launch by the end of the financial year.

Citi Australia's Consumer banking head Julian Potter said the bank was delighted to be involved.

"This partnership continues Citi's strategy of bringing world-leading financial services capabilities to Australians and is further evidence of our commitment to grow our credit card business in this market," he said.

More information on the Qantas credit card will be available when applications open before the end of this financial year.

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