Qantas is venturing further into financial services announcing plans to offer its own platinum credit card, allowing cardholders to earn a high rate of frequent flyer points and exclusive travel benefits.

The card, provided by Mastercard and issued by Citi, will be launched by the end of this financial year along with full details of features.

The Qantas credit card is the latest in new products launched by Qantas Loyalty, including travel, health and life insurance as part of Qantas Assure. It follows on from Qantas Cash – a travel money card launched in August 2013 that has grown 17 per cent market share of this segment with 670,000 cards activated and almost $3 billion of funds loaded.

Announcing plans for the card at the Qantas Investor Day last week, CEO of Qantas Loyalty Lesley Grant said the card was a response to the strong consumer demand for points as part of everyday spending.

“Around 35 per cent of credit card spend in Australia earn Qantas Points, which shows strong interest in this type of reward but also plenty of room for growth,” said Grant.

“This is a premium card aimed at people who love earning Qantas Points and who travel enough to want access to special deals on airfares and lounge access.

“Ultimately, it’s about giving customers more choice by widening the range of cards that you can earn points on and adding some unique features that only Qantas can offer.”

Grant said Qantas was pleased to partner with Citi, the world’s largest issuer of credit cards, and global technology and payments leader Mastercard as Qantas Loyalty enters this new phase of growth.

More information on the Qantas credit card will be available when applications open before the end of this financial year.

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