Macquarie cutting QFF earn rate on Black card from 20 June 2016

[Stephen65]

I noticed that the terms and conditions listed on the website have recently changed.

At: Black Qantas Credit Card | Earn Qantas Points | Macquarie

footnote 1 now links to a new version which instead of saying you earn 1 QFF point per dollar on eligible purchases, uncapped, now says:

1 Qantas Points are earned in accordance with and subject to the Macquarie Qantas Rewards Program Terms and Conditions, available at Macquarie Online Banking and macquarie.com.au/cards. You will earn 1 Qantas Point per $1 you spend on eligible purchases with no points cap on the Macquarie Black Card until 19 June 2016. From 20 June 2016, you will earn 1 Qantas Point per $1 you spend on eligible purchases up to $4,000 per statement period, then 0.5 Qantas Points per $1 spent thereafter per statement period with no points cap (note: these dates apply to new customers only).

I wonder what the note means? Will existing customers still get 1 for 1? Or will existing customers be told a new date for the cut?

 

[Beasley]

I'm a platinum card holder and received an email this evening that advices the changes to QFF points rewards will come into effect from 11th May. Platinum will only receive 1 for 1 for the first $2,500 spent in the statement period, and then reverts to .5 of a point per dollar thereafter.

Disappointing news because I only recently swapped over to Macquarie visa because Citibank halved the QFF return. Oh well, I got the 40,000 bonus points, so will now look for another alternative that provides maximum QFF points return.

 

[cove]

Looks like it could be time for scissors if it spreads to existing cards.
i have a Woolies one that Macquarie run so I try to remember to put $5000 a month of ATO on it. That works ok because the fee charged is $21 for 3750 Qantas points.

 

[aussieboozer]

Looks like it could be time for scissors if it spreads to existing cards.
i have a Woolies one that Macquarie run so I try to remember to put $5000 a month of ATO on it. That works ok because the fee charged is $21 for 3750 Qantas points.

Not any more! No points on ATO after 11 th May. I will be cancelling my Woolies card after the May points hit my account.

 

[cove]

Yes I saw that and I have two last opportunities so I have done one already. I will do the same aussieboozer.

 

[leyton01]

Only just got this card and time to move on already.

 

[pyffii]

yep me too !!!...the scissors will be out cutting the woolies and suncorp cards and I will need to have a ready reckoner handy to remember the monthly spend across my remaining cards.....and all in the name of maximising Qantas points...Hmm think its almost getting to be way too difficult !!!

 

[get me outta here]

OT, but I read of a good idea. Keep the extinct cancelled card where the possible pick pockets might go so that the extant card can be kept safe elsewhere.