Qantas has today announced plans to offer its own platinum credit card, offering a high rate of points earn and exclusive travel benefits. The card will be powered by Mastercard and issued by Citi. It is expected to be launched by the end of this financial year.

The new card will be aimed at those who collect Qantas Points and who travel enough to want access to special deals on air fares and lounge access.

Qantas Hong Kong Lounge

There is speculation that a Qantas branded credit card could offer perks like free lounge passes or subsidised annual lounge access

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 to mixed success in August 2013. While uptake of Qantas Cash has been arguably slower than expected, 670,000 cards have been activated and almost $3 billion of funds loaded.

We’ll report back with more information on the Qantas credit card when applications open before the end of this financial year.