What is the Qantas Cash Card and Is It Worth It?
The Qantas Cash Card is a prepaid Mastercard. This means that it can be used wherever a Mastercard can be used, which can be rather convenient because that covers a wide range of places in a wide range of countries. However, where standard Mastercards let their users borrow up to their credit limits, prepaid Mastercards let their users make use of the cash that is stored within them, thus making for a very different financial product. With that said, it is interesting to note that the Qantas Cash Card has other characteristics that serve to distinguish it from other prepaid Mastercard, which can make it even more useful for the right segment of consumers.
What Can You Expect from the Qantas Cash Card?
First, the Qantas Cash Card can be loaded with more than one currency. In total, interested individuals can load the prepaid Mastercard with up to 10 international currencies, with examples ranging from the Euro and the US dollar to the British pound, the Canadian dollar, and the Japanese yen. Interested individuals should make sure to check out the full list of currencies that can be uploaded to the Qantas Cash Card, which is rather important because making assumptions about what can and can’t be uploaded could end up costing them if they are careless.
Regardless, this feature can prove to be very useful for people who are interested in international travel. However, they need to know that the foreign exchange rates used for loading the Qantas Cash Card change on a daily basis, meaning that if they are interested, they need to check the latest rates if they want to make fully-informed choices. By default, the base currency for the Qantas Cash Card is the Australian dollar, but that can be changed with relative ease by users once they check in with their account. When using the Qantas Cash Card, the appropriate amount will be deducted from the appropriate currency balance.
However, if there isn’t enough money in said balance, the transaction will still go through so long as there is enough money in the other currency balances to cover it. Interested individuals should know that there is a predetermined currency order, which will determine which currencies will be checked before others. Finally, it should be mentioned that the Qantas Cash Card comes with the option to lock in foreign exchange rates for a time, which is something that can prove to be very useful to say the least.
Moving on, the Qantas Cash Card has a minimum load of $50 and a maximum load of $20,000. In total, a user can load it with $100,000 on an annual basis. Besides this, it is useful to know that it has a 24-hour withdrawal limit of $3,000 as well as a 24-hour transaction limit of $15,000. Be warned that there is a reload fee of 1 percent. Moreover, there are ATM withdrawal fees as well, though these fees will differ for each currency.
With that said, chances are good that the part that people are most interested in is the part about how using the Qantas Cash Card can earn them Qantas Points. The rate is 1.5 Qantas Points per $1 spent in foreign currencies as well as 1 Qantas Point per $4 spent in Australian dollars so long as the spending was for eligible purchases. On top of this, it is possible to earn double points by spending with Qantas partners while using Qantas Travel Money, thus making for greater efficiency than otherwise possible. Naturally, Qantas Points can be used for upgrades as well as various other benefits from Qantas and its partners.
Is the Qantas Cash Card Worth It?
On the whole, the Qantas Cash Card isn’t a best choice for people who want a prepaid Mastercard that they can use in other countries when they travel abroad. However, in this as in other cases, interested individuals should make sure that they read all of the relevant information for the Qantas Cash Card. Otherwise, they won’t have everything that they need to know to make the right choice for themselves given their particular needs and circumstances. Generally speaking, people who are enrolled in the Qantas Frequent Flyer program might want to check it out, particularly since it has no annual fees whatsoever.