Few things to keep in mind: new changes,
1.now there is a 0.005% fee for taking from a debit card, used to be instant and free (in the past), ie if you move from a debit card for $50, you will be charged an extra $0.25.
2.there is also a chance the transaction will be declined, even though your debit card account has funds in it!
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Real downside of the card, these 2, but only reason to keep the QP is to keep the QFF points alive, for those who do not have a "real true credit card/amex" card.
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Edit: from Brucetiki:
The only fee is if you're transferring from a debit card (0.5%). I don't think there's any other fees with Qantas Pay.
Most of the other providers sting you just for having a card active.
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The fee is new.
Had been free up to a few weeks ago, end of last month I think it was free.