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Gift card churn value

NAB Qantas Rewards Premium Card Point Hacks Exclusive Offer

Ended — kept for reference

This page is my best effort to summarise the card's terms from the information I found. Read the bank's terms for full details, or contact the bank if you have questions.

I'd like to use my bonus for:

Can I get this?

This offer is advertised to the public. Bonus conditions and the bank’s approval requirements still apply.

Can I get this bonus if I have held a card before?

I have not checked the waiting period for this bonus.

See the waiting rules for every Australian bank →

What must I spend?

$2,500 within 60 days — about $1,250 per month.

Can I get the card?

The minimum credit limit is $6,000. This is the least the bank may let you borrow.

I do not have a minimum income for this card.

Meeting the bonus rules does not mean the bank will approve your application. The bank must assess and approve the card separately.

How long is this available?

The listed end date has passed: 13 December 2021. Date comparison uses the Australia/Sydney calendar. The issuer’s closing time and timezone are not recorded. Check availability with the issuer.

$250
x 1
$50
x 1
$25
x 1
in Woolworths gift cards, $325 total, with 4,290 points remaining.

Should I keep it after the first year?

Keeping the card costs $150 each year ($150 annual fee) — the first year was $150.

There is no bonus in year two. The fee buys points on your spending, plus the card's perks.

Ongoing earn: 0.66x Qantas points per $1.

Keeping pays off only if the ongoing earn and benefits are worth $150/yr to you.

The maths behind churn value

$325 in Woolworths gift cards (67,360 of 71,650 Qantas points; 4,290 left over) − $150 card fee. Assumes you earn the bonus and pay in full; extra spend or interest changes the outcome.

This offer has ended. I keep this page so you can check the old terms.

+70,000sign-up bonus
+1,650from $2,500 spend
=71,650Qantas points
→$325in Woolworths gift cards
=4,290points left over
−$150first-year fees
=$175churn value
What this calculation assumes
  • You make the required purchases and the bonus is paid.
  • You pay the balance in full — any interest changes the outcome.
  • The required spend is ordinary planned spending, not extra cost.
  • You close the card before the next annual fee, or you decide keeping it is worth that fee.
  • Gift card prices can change. I check them again at renewal time.

Did this help you make a decision?

Terms and evidence

Full current terms

Offer terms

Mid-TierOffer Ended

Signup Bonus

70,000 points

Qantas

Minimum Spend

$2,500

within 60 days (about 2 months)

Offer Expires

December 13, 2021

5 years ago

Ongoing Earn Rate

0.66x points per $1 spent

Fees

First Year Annual Fee

$150

Ongoing Annual Fee

$150

From year 2 onwards

Purchase Interest Rate

20.00% p.a.

The value above assumes you pay in full and never pay this. Any interest changes the outcome.

Benefit history (5 changes)
  • Travel InsuranceUpdated May 2026
  • Purchase Protection InsuranceUpdated May 2026
  • Extended Warranty InsuranceUpdated May 2026
  • No Additional Cardholder FeeUpdated May 2026
  • Concierge ServiceUpdated May 2026
Offer terms history (1 version — old terms, for checking)

These are published versions of this offer's terms. Each version preserves the conditions available at that time.

Published 30 Jun 2024

First recorded terms

Bonus Qantas:
70,000
Annual Fee:
$150
Minimum Spend:
$2,500 in 60 days
Source wording history

Captures behind the selected terms record — evidence for these terms, not a complete history of the named offer.


Discussion

About these ended terms (published 30 Jun 2024) — not the current offer.


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