Qantas Points Transfer Partners in Australia 2026: Amex vs ANZ vs Westpac vs NAB

Qantas Frequent Flyer is the most-earned airline loyalty currency in Australia, and the credit card ecosystem that feeds it is one of the deepest globally. Understanding which AU issuer routes actually deliver Qantas Points at the sharpest effective rate matters for anyone chasing Classic Reward business cabin awards or oneworld premium redemptions. This is the 2026 comparison across the four main routes: Amex, ANZ, Westpac, and NAB.

The verdict

TL;DR, best Qantas transfer to X: for pure category earn, Amex Qantas Ultimate at up to 2.25 QFF Points per AUD1 leads (subject to AUD 450 annual fee and effective spend threshold). For cap-free bulk earn, a two-card portfolio pairing Amex direct-earn Qantas with an ANZ Frequent Flyer Black or NAB Qantas Rewards Signature covers monthly bank caps. Amex Membership Rewards to Qantas at 2 MR to 1 QFF is a 50 percent haircut and rarely optimal versus direct Qantas earn on Amex Qantas-branded cards. Direct-earn cards from bank issuers typically earn 0.5 to 1.0 Qantas Points per AUD1 with monthly caps in the 3,000 to 10,000 Points range. As of 2026-08-12.

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The Qantas Points card matrix at a glance

Below is the shape of AU credit card routes into Qantas Frequent Flyer as of 2026-08-12. Verify current earn rates, caps, and annual fees on each issuer's website before applying; product terms are revised through the year.

Card	Direct Qantas Points earn (base)	Category boost	Monthly cap	Annual fee	Notes
Amex Qantas Ultimate	1.25 QFF/AUD1	Up to 2.25 on Qantas products, dining, travel	Effectively uncapped (points-based)	~AUD 450	Qantas Club lounge access select fare classes
Amex Qantas Discovery	0.75 QFF/AUD1	Up to 1.5 on Qantas products	Effectively uncapped	AUD 0 (no annual fee)	Entry-level Amex Qantas card
Amex Explorer	2 MR/AUD1 (converts 2 MR to 1 QFF = 1 QFF/AUD1 effective)	Various category boosts on MR	Uncapped at MR level	~AUD 395	MR conversion haircut to Qantas
Amex Platinum Charge	Varies (MR earning)	Category multipliers	Uncapped at MR level	~AUD 1,750	High-fee premium card; MR to Qantas at 2:1
ANZ Frequent Flyer Black	1 QFF/AUD1 base	Bonus on ANZ Travel bookings	5,000 to 7,500 QFF/mo cap on some tiers	~AUD 375	Direct Qantas earn
ANZ Frequent Flyer Platinum	0.75 QFF/AUD1 base	Lower tier of ANZ direct earn	Lower monthly cap	~AUD 95	Entry-level ANZ Qantas direct earn
Westpac Altitude Qantas Black	1 QFF/AUD1 base	Bonus on select categories	Monthly cap on some products	~AUD 250 to 395	Verify current Westpac direct-earn Qantas variants
Westpac Altitude Rewards	Altitude Points, convert at published ratio	Varies	Cap on high-tier	Varies	Convert to Qantas from Altitude Points
NAB Qantas Rewards Signature	1 QFF/AUD1 (up to cap)	Bonus on select categories	Monthly cap around 7,000 to 10,000 QFF	~AUD 295	Direct earn
NAB Rewards Platinum	NAB Rewards Points, convert at published ratio	Various	Varies	Varies	Convert to Qantas from NAB Rewards Points

Two structural notes for AU Qantas collectors. First, most bank direct-earn Qantas cards apply monthly Points caps, which effectively force high spenders to run parallel card portfolios or lose earn above the cap. Second, Amex MR to Qantas at 2 MR to 1 QFF is a 50 percent haircut versus Amex Qantas-branded direct-earn products, so MR-earning Amex cards are usually not the correct route to Qantas Points unless the collector values MR flexibility for other partners.

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Amex route: direct-earn Qantas is the sharpest headline

Amex offers both direct-earn Qantas products (Qantas Ultimate, Qantas Discovery, Qantas Business Rewards) and MR-earning products (Explorer, Platinum Charge, Business Platinum) in Australia. The direct-earn Qantas cards feed Qantas Points at 1 to 1 without the MR conversion haircut, and are the sharpest headline for pure Qantas collectors.

Amex Qantas Ultimate (as of 2026-08-12).

• 2.25 QFF per AUD1 on eligible Qantas products (flights booked with Qantas, Qantas Wine, Qantas Insurance)
• 2.25 QFF per AUD1 on select dining and travel categories
• 1.25 QFF per AUD1 on all other eligible spend
• Effectively uncapped at the earning level (no monthly Points cap)
• ~AUD 450 annual fee, offset in part by AUD 450 Qantas Travel Credit and Qantas Club lounge access on select fare classes

Amex Qantas Discovery (no annual fee).

• 0.75 QFF per AUD1 on all eligible spend
• 1.5 QFF per AUD1 on eligible Qantas products
• Best entry-level Qantas earn without annual fee commitment
• Recommended as second-card for moderate spenders who want no-fee Qantas earn

Amex Explorer and Platinum Charge (MR-earning).

• Earn Amex MR, which converts to Qantas at 2 MR to 1 QFF
• Effective earn on general spend: 1 to 1.25 QFF per AUD1 (equivalent to a mid-tier direct-earn card, but with MR flexibility for other partners)
• Best used for collectors who want optionality: MR converts to KrisFlyer, Cathay Asia Miles, Marriott, Hilton, plus Qantas at haircut

Where Amex shines for Qantas.

• Highest headline earn (Qantas Ultimate at 2.25 QFF per AUD1 on category)
• No monthly Points cap
• Qantas Club lounge access on premium products
• Amex acceptance in Australia has expanded significantly; most major retailers now accept Amex

Where Amex is weakest.

• Annual fee on Qantas Ultimate is high
• Amex acceptance is still narrower than Visa/Mastercard at some smaller merchants
• MR-to-Qantas conversion at 2:1 is a substantial haircut

Practical take. Amex Qantas Ultimate is the sharpest single card for high-spend Qantas collectors. Amex Qantas Discovery is the best no-fee Qantas card. Amex MR-earning cards should not be held primarily for Qantas earning; hold them for MR flexibility across multiple partners.

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ANZ route: Frequent Flyer Black is the workhorse

ANZ Frequent Flyer Black is the most-recommended non-Amex Qantas earning card among AU Points blogs and comparison sites. It earns 1 Qantas Point per AUD1 on eligible spend with a monthly Points cap that varies by tier.

ANZ Frequent Flyer Black (as of 2026-08-12).

• 1 QFF per AUD1 on the first ~AUD 3,000 to AUD 5,000 eligible spend per month
• Reduced earn (typically 0.5 QFF per AUD1) above the monthly cap
• Bonus multipliers on ANZ Travel bookings
• ~AUD 375 annual fee
• Complimentary domestic lounge access on select fare classes (varies by current terms)

ANZ Frequent Flyer Platinum.

• 0.75 QFF per AUD1 on eligible spend
• Lower monthly cap than Black tier
• ~AUD 95 annual fee
• Entry-level ANZ Qantas direct earn

ANZ Rewards (non-Qantas-branded).

• ANZ Rewards Points do not have a direct Qantas Points conversion route on most current products
• Verify current ANZ Rewards partnership options with the issuer

Where ANZ shines for Qantas.

• Reliable direct earn at 1 QFF per AUD1 on Black tier
• Widely accepted (Visa/Mastercard network)
• Complimentary lounge access on select fare classes on Black
• ANZ Travel booking multipliers

Where ANZ is weakest.

• Monthly cap limits high-spend earn
• Annual fee on Black is meaningful for lower spenders
• ANZ Rewards Points route to Qantas is limited

Practical take. ANZ Frequent Flyer Black is the standard AU bank Qantas card for moderate to high spenders who want to complement Amex or use as a solo Qantas card. The monthly cap makes it best-paired with a supplementary card for spend above the cap.

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Westpac route: Altitude Qantas variants

Westpac has multiple Altitude product tiers with different Qantas earning approaches. The Altitude Qantas variants earn Qantas Points directly; the regular Altitude Rewards program earns Altitude Points that convert to Qantas at published ratios.

Westpac Altitude Qantas Black (as of 2026-08-12).

• 1 QFF per AUD1 on eligible spend
• Bonus earn on select categories (varies by current product terms)
• Monthly cap on some products; verify current terms
• ~AUD 250 to 395 annual fee depending on card tier
• Complimentary travel insurance on many Altitude Qantas products

Westpac Altitude Platinum.

• 0.5 to 0.75 QFF per AUD1 direct on some Altitude Platinum Qantas variants
• Lower annual fee
• Reduced benefit package

Westpac Altitude Rewards (non-Qantas-direct).

• Earn Altitude Points, convert to Qantas at published ratios (typically 2 to 3 Altitude Points to 1 QFF)
• Effective earn on general spend: 0.5 to 0.75 QFF per AUD1 after conversion
• Best held if Altitude Points also convert to other partners (Velocity, KrisFlyer)

Where Westpac shines for Qantas.

• Multiple Qantas-branded product tiers
• Bundled with Westpac banking for existing customers
• Sometimes runs Points-boost or fee-waiver promotions for new applicants

Where Westpac is weakest.

• Altitude Rewards Points conversion to Qantas is a haircut (2:1 or 3:1 typical)
• Some Altitude Qantas products have withdrawn or been restructured; verify current product options
• Cap structures on some products limit high-spend earn

Practical take. Westpac is a viable Qantas card for existing Westpac banking customers looking for bundled convenience. For pure Qantas Points optimization, Amex and ANZ typically deliver better effective earn per dollar.

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NAB route: Qantas Rewards Signature is the direct-earn option

NAB Qantas Rewards Signature earns Qantas Points directly on eligible spend, with a monthly Points cap and reduced earn above the cap. NAB Rewards on non-Qantas-branded cards earns NAB Rewards Points that convert to Qantas at published ratios.

NAB Qantas Rewards Signature (as of 2026-08-12).

• 1 QFF per AUD1 on eligible spend up to monthly cap (~7,000 to 10,000 QFF per month depending on current terms)
• Reduced earn above cap (typically 0.5 QFF per AUD1)
• Bonus earn on select categories
• ~AUD 295 annual fee

NAB Rewards Platinum.

• NAB Rewards Points earn 1 to 2 points per AUD1 on eligible spend
• Convert to Qantas at published ratios (typically 2 or 2.5 NAB Rewards Points to 1 QFF)
• Effective Qantas earn after conversion: 0.4 to 1.0 QFF per AUD1

Where NAB shines for Qantas.

• Direct 1 QFF per AUD1 earn on Signature
• Widely accepted card network
• NAB Rewards Points convert to Qantas plus other airline programs

Where NAB is weakest.

• Monthly cap limits high-spend earn
• NAB Rewards Points conversion to Qantas is a haircut
• Fewer premium travel benefits than Amex Qantas Ultimate

Practical take. NAB Qantas Rewards Signature is a solid supplementary Qantas earning card, particularly for NAB banking customers. Not typically the primary Qantas card for serious collectors.

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The optimal AU Qantas card portfolio: single-card vs multi-card

Portfolio profile	Recommended primary	Recommended secondary	Effective annual Qantas Points on AUD 5,000/mo spend
Cost-sensitive, no annual fee	Amex Qantas Discovery	None	~45,000 to 60,000 QFF/yr
Balanced, moderate spend	Amex Qantas Ultimate	None	~75,000 to 110,000 QFF/yr
High-spend Qantas maximizer	Amex Qantas Ultimate	ANZ Frequent Flyer Black	~120,000 to 170,000 QFF/yr
Amex-averse (acceptance concerns)	ANZ Frequent Flyer Black	NAB Qantas Rewards Signature	~85,000 to 120,000 QFF/yr
Multi-partner flexibility	Amex Platinum Charge (MR)	Amex Qantas Discovery for pure QFF	Mixed MR + direct QFF earn
Existing Westpac customer	Westpac Altitude Qantas Black	Amex Qantas Discovery	~80,000 to 110,000 QFF/yr
Existing NAB customer	NAB Qantas Rewards Signature	Amex Qantas Discovery	~80,000 to 110,000 QFF/yr

The pattern: two-card portfolios beat single-card on Qantas Points annual earn, especially for spenders above AUD 3,000 per month who hit bank card monthly caps. Amex is the anchor for uncapped high-category earn; a bank direct-earn card covers spend that Amex may not accept or spend above the Amex category thresholds.

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Qantas Points sweet spots for AU-based flyers in 2026

The value of accumulated Qantas Points depends on redemption. Below are the strongest Qantas redemptions accessible from Australia in 2026.

• Qantas Classic Reward business, Sydney or Melbourne to Los Angeles. ~108,400 QFF one-way plus taxes/fees (~AUD 200 to AUD 500). Cash equivalent business fare AUD 6,000 to AUD 10,000; effective value 5 to 8 cents per Qantas Point.
• Qantas Classic Reward business, Sydney or Melbourne to London (via Perth or Singapore). ~144,600 QFF one-way plus taxes/fees. Cash equivalent business AUD 8,000 to AUD 12,000; effective value 5 to 7 cents per Qantas Point.
• oneworld Classic Awards on Cathay Pacific business, SYD to HKG to Europe. ~132,400 QFF one-way at partner chart pricing.
• oneworld Classic Awards on JAL business, SYD to NRT. ~72,300 QFF one-way at partner chart pricing.
• Qatar Airways Qsuite business via Doha. Excellent hard-product redemption; ~136,000 QFF one-way to Europe.
• Qantas Classic Reward economy, domestic and trans-Tasman. 8,000 to 18,000 QFF one-way for MEL-SYD, SYD-BNE, or trans-Tasman. Low absolute value but high liquidity.

Two structural notes on Qantas redemptions. First, Classic Reward availability on Qantas metal has become tighter on peak dates; plan bookings 6 to 12 months ahead. Second, Points Plus Pay (redeem Points for cash-value discount) and Any Seat Awards (dynamic pricing on cash-fare tickets) are usually low-value redemptions and should be avoided unless no Classic Reward is available.

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What this means in practice: three worked examples

Example one, moderate spender, AUD 4,000/mo, no annual fee tolerance. Amex Qantas Discovery only: 4,000 AUD x 0.75 QFF = 3,000 QFF/mo. Annual: 36,000 QFF. Achieves a one-way domestic Classic Reward business award (~41,900 QFF) in ~14 months. Verdict: viable for casual collectors; slow build.

Example two, high spender, AUD 8,000/mo, annual fee-tolerant. Amex Qantas Ultimate: 4,000 AUD on category (2.25 QFF) = 9,000 QFF/mo + 4,000 AUD on base (1.25 QFF) = 5,000 QFF/mo. Monthly: 14,000 QFF. Annual: 168,000 QFF. Achieves Sydney to LAX Classic Reward business (~108,400 QFF) in ~8 months. Verdict: viable for premium cabin chasers with the AUD 450 annual fee absorbed by the Qantas Travel Credit + Points value.

Example three, high spender, AUD 10,000/mo, multi-card portfolio. Amex Qantas Ultimate on AUD 5,000/mo (category and base) = ~10,000 QFF/mo + ANZ Frequent Flyer Black on AUD 5,000/mo (up to cap 5,000 QFF, above cap 2,500 QFF for AUD 5,000 = ~5,000 QFF/mo). Monthly: 15,000 QFF. Annual: 180,000 QFF. Achieves Sydney to London Classic Reward business (~144,600 QFF) in ~10 months. Verdict: two-card portfolio adds ~30,000 to 40,000 QFF/year over single-card at this spend level.

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When AU Qantas Points card portfolios do NOT deliver value

• You do not fly Qantas or oneworld on paid or award tickets. Points are only valuable at redemption; if your travel is on Star Alliance or SkyTeam carriers, target Velocity Frequent Flyer (Virgin Australia) or KrisFlyer instead.
• You cannot spend to the monthly cap on bank direct-earn cards. Below AUD 3,000/mo total spend, monthly caps do not bind and the annual fee absorbs the earn value.
• You need the Amex acceptance to work at merchants that decline Amex. Amex acceptance in Australia has expanded but some smaller merchants and utilities do not accept Amex; maintain a Visa/Mastercard for those.
• You cannot pay the balance in full each month. Interest charges destroy Points value quickly; cards with 20-plus percent APR are not viable earning tools for revolvers.
• You do not travel in premium cabins. Domestic economy Classic Reward is fine but low absolute redemption value; premium cabin business awards are where Qantas Points genuinely shine.
• You are chasing status through spending. Qantas Frequent Flyer status is earned via Status Credits from paid flying, not from card spend directly (with limited exceptions on premium cards). Cards accelerate Points earning, not status.
• You have low tolerance for annual fees. Amex Qantas Discovery at AUD 0 annual fee is the entry point; do not commit to Amex Qantas Ultimate at AUD 450 unless you can justify the fee via spend and lounge use.

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Frequently asked questions

Which Australian bank offers the best Qantas Points earn rate in 2026?

As of 2026-08-12, no single AU bank is optimal for all spend types. American Express Qantas Ultimate Card delivers up to 2.25 Qantas Points per AUD1 on eligible categories but has a high annual fee. Direct-earn Qantas Points cards from major banks (ANZ Frequent Flyer, Westpac Altitude Qantas, NAB Qantas Rewards, CommBank Qantas) typically earn 0.5 to 1.0 Qantas Point per AUD1 on standard spend, with capped bonus categories on some products. Amex Explorer and Amex Platinum Charge convert MR to Qantas at 2 MR to 1 Qantas Point (a 50% haircut versus Amex's direct Qantas Ultimate route). The sharpest portfolios pair a category-heavy Amex product with a bank direct-earn card for spend Amex acceptance does not cover.

What is the transfer ratio from Amex Membership Rewards to Qantas in Australia?

As of 2026-08-12, Amex Membership Rewards transfers to Qantas Frequent Flyer at 2 MR to 1 Qantas Point on most Australian Amex MR-earning cards (Amex Platinum Charge, Amex Explorer, Amex Business Platinum). This is a substantial haircut versus the 1 to 1 ratio on some other partners like Virgin Atlantic Flying Club. Amex Qantas-branded cards (Qantas Ultimate, Qantas Discovery, Qantas Business Rewards) earn Qantas Points directly at 1 to 1 without going through MR conversion, which is why the direct-earn Qantas cards are typically more efficient for pure Qantas focus.

Do ANZ Rewards points convert to Qantas Points?

ANZ has multiple product families with different Qantas routing. ANZ Frequent Flyer Black and ANZ Frequent Flyer Platinum earn Qantas Points directly at 1 Qantas Point per AUD1 on eligible spend (with tiered caps). ANZ Rewards cards (non-Frequent Flyer variants) earn ANZ Rewards Points which historically have not had a direct Qantas Points conversion route; verify current ANZ Rewards partnership options directly with the issuer. As of 2026-08-12.

What is Westpac Altitude Qantas earning in 2026?

Westpac Altitude Qantas variants earn Qantas Points directly at 0.5 to 1.0 Qantas Point per AUD1 depending on card tier and spend category, subject to monthly point caps on select cards. Westpac's regular Altitude Rewards program earns Altitude Points which convert to Qantas at published ratios; verify the current conversion table with Westpac. Some Westpac Altitude products have withdrawn direct Qantas earn in favor of Velocity or altitude-only options; check current product offerings and card variants before applying. As of 2026-08-12.

Does NAB have Qantas Points earning cards in 2026?

NAB's Qantas Rewards Signature Credit Card historically has earned Qantas Points directly at 1 Qantas Point per AUD1 up to a monthly cap, with reduced earn above the cap. NAB Rewards Points on other NAB Rewards products convert to Qantas at published ratios that vary by product. Verify current NAB card options and earn rates directly with NAB before applying, program terms have shifted through the year. As of 2026-08-12.

How does the CommBank Qantas card compare?

CommBank offers the CommBank Qantas-branded credit card (formerly known as CommBank Diamond Awards Qantas). It earns Qantas Points directly on eligible spend at a rate typically in the 0.4 to 0.75 Qantas Points per AUD1 band, with capped earn on select categories. CommBank is not in the primary four (Amex, ANZ, Westpac, NAB) covered in this article but is a viable fifth option for Qantas-focused collectors banking with CommBank. Verify current CommBank Qantas earn rates and caps with the issuer.

Is Amex Qantas Ultimate worth the annual fee for pure Qantas Points?

The Amex Qantas Ultimate Card has a high annual fee (typically AUD 450 as of 2026-08-12) but delivers up to 2.25 Qantas Points per AUD1 on Qantas products and premium travel bookings, plus 1.25 Qantas Points per AUD1 on general spend, plus complimentary Qantas Club lounge access on select fare classes. For pure Qantas Points collectors spending AUD 30,000-plus per year on the card with meaningful lounge use, the card can pay for itself in Points value + lounge benefit. For spend under AUD 20,000 per year with limited lounge use, cheaper Qantas-earning cards from ANZ or NAB often deliver better annual value.

What is the biggest structural limitation of Qantas Points earning in Australia in 2026?

Monthly and annual point caps on direct-earn Qantas cards. Most AU bank direct-earn Qantas cards apply caps (typical range: 3,000 to 10,000 Qantas Points per month) above which earn drops significantly or stops entirely. This means large monthly spenders effectively cap their earn at the same rate as moderate spenders, unless they run parallel card portfolios. Amex Membership Rewards has fewer earn caps at the point level but a 50% haircut on Qantas transfer. Trade-off analysis is required for high-spend collectors.

Should Australian Qantas collectors hold multiple Qantas Points earning cards?

For collectors targeting more than 100,000 Qantas Points per year, yes. Two-card portfolios are standard among serious Qantas Points collectors in Australia in 2026. Typical pairings: Amex Qantas Ultimate as primary category earner + ANZ Frequent Flyer Black or NAB Qantas Rewards Signature for cap-freeing base earn. This structure lets you earn the highest category rate on Amex until the monthly cap on the bank card, then switch to Amex for uncapped spend. Verify current caps and terms with each issuer before you plan a portfolio.

What are the best Qantas Points redemptions from Australia in 2026?

Classic Reward business awards on Qantas metal Sydney to Los Angeles or Sydney to London are among the highest-value redemptions, typically pricing at 108,400 Qantas Points one-way plus taxes and fees, with cash-equivalent business fares in the AUD 6,000 to AUD 10,000 range delivering effective value of roughly 5 to 8 cents per Qantas Point. oneworld Classic Awards on Cathay Pacific, JAL, and Qatar Airways are also strong redemptions. Qantas Points redemptions on Jetstar are usually low-value; Points Plus Pay is a fallback but rarely the best economics. Award availability is highly variable; plan bookings 6 to 12 months in advance.

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Key takeaways

• Amex Qantas Ultimate delivers the highest headline Qantas earn (up to 2.25 QFF per AUD1) with the highest annual fee
• Amex Qantas Discovery is the strongest no-annual-fee Qantas earning card
• ANZ Frequent Flyer Black is the workhorse bank direct-earn Qantas card at 1 QFF per AUD1
• Westpac and NAB Qantas Rewards products are viable but not the sharpest single-card options
• Amex MR to Qantas at 2 MR to 1 QFF is a 50 percent haircut; direct-earn Qantas cards are more efficient
• Bank direct-earn Qantas cards typically apply monthly caps; high spenders need two-card portfolios
• Classic Reward business awards on Qantas metal deliver 5 to 8 cents per Qantas Point at optimal redemption
• ShopBack cashback on AUD spend that funds card earn compounds the entire Qantas Points loop

Cashback on the AUD spend that fuels your Qantas Points balance compounds alongside your card portfolio. Join ShopBack and start earning

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Disclaimer

The views and recommendations expressed in this article are those of the author.

Credit card earn rates, monthly Points caps, annual fees, and conversion ratios are subject to change. Please verify current details directly with American Express Australia, ANZ, Westpac, National Australia Bank, and Qantas Frequent Flyer before making planning or booking decisions. Bank product offerings and card terms are revised through the year. As of 2026-08-12.

This article is intended for general informational purposes only and should not be considered professional financial or travel advice.