Earn 150,000 bonus Qantas Points when you spend $10,000 on everyday business purchases within 90 days of opening your new account.
Not a bad deal for those with ABN if you can manage the spend.
The previous deal: https://www.ozbargain.com.au/node/908208 was 100k points plus 50k after 12 months.
good deal, painful bank, painful process
If you're cycling through cards to maintain Points Club, keep in mind only 20,000 of the points transferred from Biz Rewards to your personal account are eligible.
Some feedback before you sign up:
The sign up process is a massive pain. It took a month between my application and its approval, and hours of gathering financial information and back and forth with their team, including having to visit a branch. I’ll spare you the details, but the process is just archaic compared to signing up to a new Amex for example, which always takes me less than 30 minutes, and is approved very quickly.
Something else I've found very sneaky is that they don’t notify you when your statements are available, and the penalty fees for late payments are massive. You have to set a reminder for yourself and if I hadn’t read another reviewer flagging this issue, I probably would have missed a payment as well. And finding the right statement in your account is not even easy. I had to call their support to help me. It turns out if you select “Most recent” in your Account statement section, you can only access a basic transactions statement. You have to select “Last 3 months” for the one showing how much you owe, payment instructions and deadlines to magically appear.
They do send statements over mail, but every other month it arrives after the payment deadline.
Anyway, maybe I was an exception with the sign-up process, and in the end I did receive the points on time, but if you go for it, go with a good dose of patience.
Also a word of warning, WHEN you CANCEL the card, make sure in the last month there are NO transactions. Any transactions on the LAST STATEMENT do not get any POINTS!
Sorry for the caps, angry typing.
Setting up a direct debit for this card is VERY very painful. You need to go to the bank multiple times as they will get it wrong (took them 6 months to fix).
Good to know!
I bank with NAB so any cc I’ve applied through them is approved straight away, never had any issues. St George on the other hand, wouldn’t recommend..
Do you use the app? I think I get notified when statements are available and you can find your latest by clicking on the credit account and pressing the big “statements” button. I find the NAB app the best/easiest to navigate out of all the banks I’ve tried.
Any consequences for taking Ccards with ABNs you don't use anymore? I don't do anything at tax time for the ABN as its inactive, but I just keep it alive!
yep, you aren't eligible (on paper) as turnover needs to be 75k
Aren't they have the similar deal for 200k qantas point a few weeks ago?
Yup, but 50.000 only after holding it more than 12 months I think.
Great deal but man, good luck trying to get approved. NAB make you jump through an infinite amount of hoops. I gave up last time and got approved for an amex qantas business rewards card in about 20 mins. Not sure why NAB have such crazy compliance requirements. Even if you have a solid business, if any of your financial documents or xero file isn't 100% organised, you're in for a world of hurt trying to get this. They even wanted screenshots from my ATO business portal.
Yes agreed, was a weeks long process and at the end was denied with a reason. Amex was approved straight away.
What is the best offer atm for Velocity points?
How long since last having a card?
Was 200,000 points previously (this deal ended early this year). And a $6,000 spend I think.
You will need to link it to your accounting software if you want the application to be painless (same as per ANZ). Otherwise the amount of financials they will ask for nuts.
Tempted to get this to pay my BAS (as ATO spend counts towards collecting points as well as the $10k spend) but after what a few people above have said about the sign up process, not sure I am game (my BAS payment is due in less than two weeks anyway).
Does 150k qantas points equal to $295 ?
SIN-SYD (QF2) econ upgrade to biz 70,000 points, your take
Coming soon: Spend 150k in 90 days, get 10k points!
Can stack with this?
https://www.ozbargain.com.au/node/928403
I activated this offer previously with Qantas and received a confirmation.