American Express Qantas Ultimate Card
Best for: Qantas flyers who can use the annual travel credit and want the highest uncapped earn rate
Pros
- Fee is effectively refunded by the travel credit for Qantas flyers
- High base Qantas Points rate up to the yearly cap
- Premium insurance and lounge package
Cons
- Amex acceptance gaps at smaller Australian merchants
- A$450 fee is real money if you do not fly Qantas
- 3% foreign transaction fee
Rates and offers change. Confirm today's terms on the issuer's official site before applying. Independent comparison — not financial advice.
The Qantas Ultimate is the strongest Qantas Points earner in Australia: 1.25 points per $1 on everyday spend with no cap, 2.25 points on Qantas flights and products, and a A$450 Qantas Travel Credit every year that effectively refunds the A$450 fee for anyone who flies Qantas. Add two Amex lounge visits, two Qantas Club invitations and comprehensive insurance, and it beats the big-bank cards on value — as long as the places you shop accept Amex.
American Express Qantas Ultimate Card at a glance
| Issuer | American Express Australia |
| Card network | American Express |
| Annual fee | A$450 |
| Rewards rate | 1.25 Qantas Points per A$1, dropping to 1 point after 100,000 points in a calendar year; 2.25 points on Qantas flights and products |
| Welcome bonus | Large bonus Qantas Points after minimum spend (varies) |
| Intro APR | None |
| Purchase rate | 23.99% p.a. (variable) |
| Foreign transaction fee | 3% |
| Credit needed | Good to excellent (minimum income A$65,000) |
| Airport lounge access | 2 Amex lounge visits and 2 Qantas Club invitations a year |
| Best for | Qantas flyers who can use the annual travel credit |
Rewards & perks
- A$450 Qantas Travel Credit every year, redeemable on Qantas flights
- Uncapped Qantas Points earn on everyday spending
- Amex lounges in Sydney and Melbourne plus Qantas Club invitations
Pros
- Fee is effectively refunded by the travel credit for Qantas flyers
- High base Qantas Points rate up to the yearly cap
- Premium insurance and lounge package
Cons
- Amex acceptance gaps at smaller Australian merchants
- A$450 fee is real money if you do not fly Qantas
- 3% foreign transaction fee
Who should apply
- Australian residents with a strong credit history and A$65,000+ income
- Qantas Frequent Flyers who book at least one Qantas flight a year
- Spenders who can route most purchases through Amex
Before you apply: card terms change often. Confirm the current annual fee, interest rate, welcome offer and rewards on the official American Express Australia site. CreditCardCompare is an independent comparison resource, not the card issuer, and this is not financial advice.
How it compares with similar Australia cards
| Card | Annual fee | Rewards | Intro APR | Foreign fee | Credit needed | Rating |
|---|---|---|---|---|---|---|
American Express Qantas Ultimate CardQantas flyers who can use the annual travel credit |
A$450/yr | 1.25 Qantas Points per A$1, dropping to 1 point after 100,000 points i… | None | 3% | Good to excellent (minimum inc… | |
CommBank Ultimate Awards Credit CardCommBank customers who spend enough to have the fee waived |
A$420/yr | 3 Awards points per A$1 overseas, 2 on supermarkets, dining and petrol… | None | None | Good to excellent |
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