Bankwest reduces rate from 16 may

Discussion in 'Other Credit Card Rewards' started by Johninperth, May 23, 2014.

Thread Status:
Not open for further replies.
Welcome to Australia's leading independent Frequent Flyer and Travel Resource!
Our site contains tons of information that will improve your travel experience.
Joining AFF is fast, simple & ABSOLUTELY FREE -  join now by clicking on the JOIN NOW button, and take immediate advantage of these great BENEFITS.
Once registered, this box will disappear. And you will see fewer advertisements :)
  1. Johninperth

    Johninperth Junior Member

    Apr 29, 2014
    12
    0
    I just noticed the rate on platinum cards has reduced from 1:1 to 0.75:1. Has anyone else noticed this?
    I messaged BW and they sent the following
    "Effective from Friday May 16th 2014, the earn rate for new Qantas
    Platinum Mastercards is decreasing to 0.75 Qantas points per $1.00"
    And that my 1:1 rate would remain extant.
     

  2. burmans

    burmans Senior Member

    Feb 21, 2006
    6,231
    1,760
    Sydney
    Flight Map:
    View my flight map
    You've gotta love advanced notice.
     
  3. Aussie_flyer

    Aussie_flyer Established Member

    Apr 26, 2009
    4,499
    1,691
    Melbourne
    It doesn't apply for existing card holders...
     
    • Like Like x 1
  4. deejo77

    deejo77 Active Member

    Feb 5, 2012
    886
    223
    brisbane
    *&^% this was next on my hit list to get..............it just lost a lot of its value for me
     
  5. Pleb Status

    Pleb Status Established Member

    Feb 19, 2011
    2,774
    1,505
    Perth
    Although existing card holders are grandfathered at this stage, I do not think it will be long before we are 'enhanced' to 0.75 points per AUD.
     
    • Like Like x 1
  6. Aussie_flyer

    Aussie_flyer Established Member

    Apr 26, 2009
    4,499
    1,691
    Melbourne
    Well I guess my mc spend will go back to the woolies card
     
  7. WeeGraeme

    WeeGraeme Intern

    May 4, 2013
    88
    11
    Brisbane
    Flight Map:
    View my flight map
    I noticed it the other day. I currently have a Woolworths Qantas CC, but I've just found out that they've sold their business to Macquarie Bank. I choose not to have a business relationship with Macquarie Bank, so I'll be looking for another card. I'd researched the Bankwest card a while bank and was half way through the sign-up when I noticed the changed earn rate. Time to find someone else now. They'll also lose my deposit business. I was in the process of transferring that over too.
     
  8. Isochronous

    Isochronous Established Member

    Dec 18, 2009
    4,111
    940
    1A
    Flight Map:
    View my flight map
    I'd rather them just up the annual fee a little than reduce the points earn.
     
  9. JohnK

    JohnK Veteran Member

    Mar 22, 2005
    40,478
    8,821
    BNE, SYD and CNX
    And then people request the annual fee to be waived?
     
  10. Isochronous

    Isochronous Established Member

    Dec 18, 2009
    4,111
    940
    1A
    Flight Map:
    View my flight map
    Bankwest could always have a hardline policy of no.
     
  11. JohnK

    JohnK Veteran Member

    Mar 22, 2005
    40,478
    8,821
    BNE, SYD and CNX
    Something has to give. Transaction fees remain the same. The banks cannot continue to pay out points at the current rate. Or can they?
     
  12. FrankC

    FrankC Member

    Apr 10, 2006
    332
    46
    Sydney
    I hope they continue for existing card members :D
     
  13. severus

    severus Junior Member

    Jun 12, 2014
    18
    1
    To anyone who has Bankwest no foreign transaction fee credit card, how's the exchange rate like compared to citi debit plus/28 degree mastercard? Thinking of using it for overseas spend. Even with reduced point earn, it may be better than nothing.
     
  14. Isochronous

    Isochronous Established Member

    Dec 18, 2009
    4,111
    940
    1A
    Flight Map:
    View my flight map
    No evidence available to prove that they were losing money on it.
     
  15. Pleb Status

    Pleb Status Established Member

    Feb 19, 2011
    2,774
    1,505
    Perth
    I have the Bankwest QF Platinum card and have found the FX rate to be right on the MasterCard wholesale FX rate. So they do not appear to be taking an 'additional hidden' FX fee.

    https://www.mastercard.com/global/currencyconversion/

     
  16. severus

    severus Junior Member

    Jun 12, 2014
    18
    1
    Thanks, that's exactly what I want to hear.
     
  17. opusman

    opusman Senior Member

    Jun 27, 2006
    5,099
    3,203
    Melbourne
    My latest Bankwest statement has a note that the rate will be dropping to 0.75 pts / $ from November :(

    Time to look for another card... do I really want to go back to Woolies??
     
  18. akeno

    akeno Member

    Jan 11, 2012
    212
    12
    Oz
    Best to hold onto the card as I spoke with a representative that said a new card would be launched soon to coincide with these changes. So you don't have to go back to Woolies :D
     
  19. Isochronous

    Isochronous Established Member

    Dec 18, 2009
    4,111
    940
    1A
    Flight Map:
    View my flight map
    Wonder what the new card will be like and if existing holders of the QF Plat can migrate automatically.
     
  20. FrankC

    FrankC Member

    Apr 10, 2006
    332
    46
    Sydney
    Pure speculation - I think it would be QF black & hope that they will give this free as part of the packaged homeloan
     
Loading...

Share This Page