There is an annual fee for QF FF membership, but it is waived for Silver, Gold and Platinum members. In order to manage postage costs, they now send statements at different intervals for each status level.

There is also an annual fee for the QF Visa Card (Telstra name dissappears in June). For people with a QF/Telstra ANZ Visa card who afre not members of the QF FF program, they are providing one year's free QF FF membership. I expect at the end of the first 12 months, if you are not Silver or above, you will be asked for the standard annual QF FF membership fee.