The Qantas American Express Ultimate Card
Churn value: $350 in gift cards.
You pay $450 in first-year fees.Spend $5,000 in 90 days.You get $350 in Woolworths gift cards.
The recorded minimum requirements are that you can take a credit limit of at least $3,000. Meeting them does not guarantee approval.
It is only worth it if you pay in full each month and close the card before the next $450 fee.
Available
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?
Card Members who currently hold or who have previously held any Card product issued by American Express Australia Limited in the past 18 months are ineligible for this offer. The wait is 18 months, from the last date you held one of these cards. If you hold one now, you cannot get this bonus.
See the waiting rules for every Australian bank →What must I spend?
$5,000 within 90 days — about $1,667 per month.
Can I get the card?
The minimum credit limit is $3,000. 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?
Listed end date: 17 November 2026. Date comparison uses the Australia/Sydney calendar. The issuer’s closing time and timezone are not recorded. Check availability with the issuer.
What do I do, step by step?
- Apply. Check the income and waiting rules in “Can I get this?” first. If you do not pass those, the bonus does not come.
- Spend $5,000 in 90 days on bills and shopping you had to pay anyway. Do not buy extra things just to hit the number.
- Pay in full each month. Interest can eat the whole bonus. The churn value at the top assumes you never pay interest.
- Use the points for gift cards. Points you never use are worth zero.
- Close the card before the next fee — keeping it costs $450 a year. The next section helps you decide if keeping it is worth it.
When this is not worth it
- You pay interest, or you cannot pay in full each month.
- You buy things you do not need to hit the spend target.
- You have no trip or use in mind for the points.
- You keep the card into year two out of habit and pay the fee again.
Should I keep it after the first year?
Keeping the card costs $450 each year ($450 annual fee) — the first year was $450.
The year-two bonus is 50,000 Qantas points.
Ongoing earn: 1.25x Qantas points per $1.
Keeping pays off only if you meet the second-year conditions and use the points and benefits enough to cover $450/yr.
What else makes the card useful?
Reward use
Ways to turn points into value.
- Points Transfer Benefits Compare across cards →Qantas Points transferred to your Qantas Frequent Flyer account each month
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Qantas Points transferred to your Qantas Frequent Flyer account each month
Purchase protection
Cover on things you buy with the card. Limits, excesses, and activation conditions apply.
- Purchase Protection Insurance Compare across cards →Purchase Protection Cover repairs or refunds eligible items accidentally broken or stolen within 90 days of purchase; Card Refund Cover credits your account if refused a refund on an unused eligible item within 90 days of purchase
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Purchase Protection Cover repairs or refunds eligible items accidentally broken or stolen within 90 days of purchase; Card Refund Cover credits your account if refused a refund on an unused eligible item within 90 days of purchase
Travel
Travel cover and perks. Most need qualifying bookings or payment with the card.
- Lounge Access Compare across cards →2 Qantas Club Lounge Invitations each year after first Card spend on selected Qantas products and services
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2 Qantas Club Lounge Invitations each year after first Card spend on selected Qantas products and services
- Travel Credits Compare across cards →$450 Qantas Travel Credit each year for eligible international or domestic Qantas flights booked and paid online at American Express Travel
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$450 Qantas Travel Credit each year for eligible international or domestic Qantas flights booked and paid online at American Express Travel
- Hotel Benefits Compare across cards →Complimentary Qantas Wine Premium Membership with gourmet food, exceptional wines, exclusive access to food and wine events, and complimentary delivery within Australia
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Complimentary Qantas Wine Premium Membership with gourmet food, exceptional wines, exclusive access to food and wine events, and complimentary delivery within Australia
- Lounge Access Compare across cards →4 visits/year · Qantas Club, The Centurion Lounge
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Two Qantas Club complimentary lounge invitations each year (after first Card spend on selected Qantas products/services), plus two complimentary entries per year to The Centurion Lounge at Sydney or Melbourne International Airport
- Travel Insurance Compare across cards →Complimentary domestic and international travel insurance: Medical Emergency Expenses up to $2,500,000; Trip Cancellation and Amendment up to $12,500; Personal Baggage, Valuables, Money and Documents up to $10,000; Travel Inconvenience up to $200 for flight delays; Personal…
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Complimentary domestic and international travel insurance: Medical Emergency Expenses up to $2,500,000; Trip Cancellation and Amendment up to $12,500; Personal Baggage, Valuables, Money and Documents up to $10,000; Travel Inconvenience up to $200 for flight delays; Personal Accident up to $400,000
- Flight Discounts Compare across cards →$450 Qantas Travel Credit each year for eligible international or domestic Qantas flights when booked and paid online at American Express Travel
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$450 Qantas Travel Credit each year for eligible international or domestic Qantas flights when booked and paid online at American Express Travel
Everyday savings
Discounts and cashback on spending. Activation and caps vary.
- Subscription Benefits Compare across cards →Complimentary Qantas Wine Premium Membership; earn 3 points per dollar on Qantas Wine purchases and complimentary Qantas Wine delivery within Australia
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Complimentary Qantas Wine Premium Membership; earn 3 points per dollar on Qantas Wine purchases and complimentary Qantas Wine delivery within Australia
Account management
Tools for running the account — repayment helpers, not reward value.
- Installment Plans Compare across cards →Plan It Instalments lets you pay off a portion of your Credit Card balance in equal monthly instalments with no interest and a fixed monthly fee
This is a repayment plan. It does not add reward value.
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Plan It Instalments lets you pay off a portion of your Credit Card balance in equal monthly instalments with no interest and a fixed monthly fee
- Digital Wallet Integration Compare across cards →Eligible for use with Apple Pay, Samsung Pay and Google Pay
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Eligible for use with Apple Pay, Samsung Pay and Google Pay
- No Additional Cardholder Fee Compare across cards →Up to 4 additional Cards for family members or friends at no extra fee
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Up to 4 additional Cards for family members or friends at no extra fee
- Interest Free Periods Compare across cards →Up to 44 interest-free days on purchases
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Up to 44 interest-free days on purchases
$350 in Woolworths gift cards (72,480 of 76,250 Qantas points; 3,770 left over) − $450 card fee. Assumes you earn the bonus and pay in full; extra spend or interest changes the outcome.
This offer is open now (terms from 13 Oct 2026).
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
First Year Points
70,000 points
Qantas
Second Year Points
50,000 points
With $450 annual fee
Minimum Spend
$5,000
within 90 days (about 3 months)
Cash Bonus
Offer Expires
November 17, 2026
in a month
Ongoing Earn Rate
1.25x points per $1 spent
Fees
First Year Annual Fee
$450
Ongoing Annual Fee
$450
From year 2 onwards
Purchase Interest Rate
23.99% p.a.
The value above assumes you pay in full and never pay this. Any interest changes the outcome.
Benefit history (5 changes)
- Digital Wallet IntegrationUpdated May 2026
- Purchase Protection InsuranceUpdated May 2026
- Installment PlansUpdated May 2026
- Travel InsuranceUpdated May 2026
- Lounge AccessUpdated May 2026
Now 4 visits/year · Qantas Club, The Centurion Lounge.
Offer terms history (13 versions — old terms, for checking)
These are published versions of this offer's terms. Each version preserves the conditions available at that time.
Published 13 Oct 2026
Availability changed from ended to available; conditions unchanged.
Changes from terms version 11
Changes from terms version 10
Changes from terms version 9
Changes from terms version 8
No recorded term changes from the previous version.
Changes from terms version 6
Changes from terms version 5
Changes from terms version 4
Changes from terms version 3
Changes from terms version 2
Changes from terms version 1
First recorded terms
Captures behind the selected terms record — evidence for these terms, not a complete history of the named offer.
Archived notes
Earlier notes about this offer, kept as an archive — not current terms. Note dates are separate from terms publication dates.
- Expiration changed from 03/08/24 to 03/09/242 years ago
- Expiration changed from 28/05/24 to 03/08/24, Bonus from 60K to 70K, Second Year Bonus from 0 to 20K2 years ago
- Expiration changed from 02/04/24 to 28/05/24, Bonus from 100K to 60K3 years ago
- Bonus increased from 60k to 100k, Expiration changed from no expiration to 02/04/24 (thanks via Instagram!)3 years ago
- Expiration changed from 31/10/23 to "", Bonus from 75000 to 60000, Bonus Period from 90 to 903 years ago
- Bonus points increased from 60,000 to 75,0003 years ago
- Lowered bonus points to 60,0003 years ago
- Bonus reduced from 75k to 50k4 years ago
- Bonus decreased from 100k to 75k first year, 25k second year and expiration added 23/08/224 years ago
- Bonus decreased from 120k to 100k4 years ago
- Bonus increased from 100k to 120k and extended to 27/04/225 years ago
- Bonus increased from 55,000 to 100,0005 years ago
Discussion
About the current terms (published 13 Oct 2026).
Community and personal tools
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