Australian airline Qantas has introduced a new ultra-premium credit card for high-income passengers.

The new Qantas Premier Titanium Mastercard comes with a range of benefits. These include, highest Qantas Points earn rate and highest sign-up bonus points.

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The benefits include two Qantas First Lounge invitations and two lounge invitations for the Qantas Club Domestic and selected International Business Lounges.

Additionally, the card holders will receive 20% bonus status credits on Qantas flights. It also offers 10% discount on Qantas operated flights for two people on all classes, twice a year.

The passengers will also receive 150,000 bonus Qantas Points, if they spend A$5,000 within 90 days of card approval.

Qantas Loyalty CEO Olivia Wirth said that the ultra-premium credit card will attract its high spending members.

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Wirth said: “We started our loyalty programme for frequent flyers, but as the number of partners has grown it’s actually frequent buyers who are now earning the most points.

“The top 1,000 points balances are held by members who have maximised their points earn on everyday spend, with our partners like Woolworths and Red Energy or by using Qantas Points-earning credit cards.

“The expansion of the programme means you can earn points buying wine or buying a car, so the potential for larger balances without flying is huge.”

Qantas Premier Titanium is available for customers with an annual income more than A$200,000 for an annual fee of A$1,200.

The newly launched offering bolsters Qantas existing credit card portfolio which includes Qantas Premier Platinum and Qantas Premier Everyday.