Can I change the term of my Statement Instalment Plan?
Yes, you may be able to change it to a shorter or longer term if you wish to (and if that term is available) however this will change your monthly instalment repayment amount. Simply call us on 1300 992 700 (or +61 2 8222 2569 if you're calling from overseas).
How will my repayments be applied to my card?
By applying for a Statement Instalment Plan, payments made to your account will be first applied to the Statement Instalment Plan up to the amount of any initial interest charge or instalment or related interest due or overdue in that period. Any additional payments will be applied to the balance of your account in accordance with your credit card credit terms and conditions.
Can I have more than one Statement Instalment Plan?
Yes, you can have more than one Statement Instalment Plan on your card as long as the total amount of all plans is within your credit limit. However, you can only set up one Statement Instalment Plan per statement period.
How do I make the monthly instalment repayment?
You can repay the monthly instalment in a similar way as to how you pay your credit card bill. Note that the monthly instalment is included in your Minimum Payment Due in your statement.
Who can create a Statement Instalment Plan on my card?
Only the primary card holder will be able to request a Statement Instalment Plan.
Does a Statement Instalment Plan earn Qantas Points?
Your initial purchase that has been converted into an Instalment Plan will earn Qantas Points if it is an Eligible Transaction. The conversion itself into an instalment plan will not earn Qantas Points unless we tell you otherwise.
What happens if I return a purchase that was converted into a Statement Instalment Plan?
Returning a purchase that was converted into a Statement Instalment Plan does not automatically cancel the instalment plan. If you return a purchase that was converted into a Statement Instalment Plan and you wish to cancel the Statement Instalment Plan, please call us on 1300 992 700 (or +61 2 8222 2569 if you're calling from overseas).
How does it appear on my statement?
Your Statement Instalment Plan will appear as a 'Fixed Payment Option' on your statement which will include a summary of your progress. Any initial interest charge or instalment due will be included in the Minimum Payment Due.
How can I track my instalment plan?
You will be able to track the progress of your instalment plan on your monthly statement, Qantas Money mobile app or by logging in to qantasmoney.com.
Can I pay more than my monthly instalment amount?
Information on how repayments are applied to your instalment plan.
Is the Statement Instalment Plan amount part of my existing credit limit?
Yes. The Statement Instalment Plan uses part of your existing credit limit, which means that your credit limit doesn’t change. As you pay off your Statement Instalment Plan amount(s), the amount(s) you pay off will become available for you to use again as part of your credit limit and will be subject to the standard Annual Percentage Rates applicable on your account.
When will I be charged my first monthly instalment?
During the cycle in which the Statement Instalment Plan is set up, you will be charged an initial interest charge which will be included in the Minimum Payment Due on your next statement. Subsequent statements will include an instalment for each month of the term.
Can I pay off my Statement Instalment Plan early?
You can pay off your Statement Instalment Plan at any time without early repayment fees. Simply call us on 1300 992 700 (or +61 2 8222 2569 if you're calling from overseas).
What if I already have direct debit set up?
If you have a direct debit set up to pay off your full statement balance, you need to change the direct debit arrangement before you can set up a Statement Instalment Plan.
What is a Statement Instalment Plan?
A Statement Instalment Plan allows you to repay purchases in the closing balance on your last statement in monthly instalments at a fixed rate over a set term.
Will a Statement Instalment Plan affect my interest-free days on my purchases?
The interest free period applies when you pay your full closing balance from your last statement by the Payment Due Date (excluding any Instalment Plan balance which isn’t due for payment by that Payment Due Date). No interest free period is available on Cash Advances or Balance Transfers.
What happens if I miss paying the initial interest charge or monthly instalment repayment by the Payment Due Date?
If you fail to pay the initial interest charge or monthly instalment by the Payment Due Date: i. that initial interest charge or monthly instalment will be charged interest at the Retail Purchase Rate from the day after the Payment Due Date. ii. We may cancel any instalment plans, in which case, any outstanding balance of the plan will revert to the Retail Purchase Rate for Statement Instalment Plans.