Changes to Westpac credit card point earn rates from 1/8/25

[Mattg]

Westpac is making changes to Altitude, Qantas and Velocity point earn rates on its Platinum and Black credit cards, which take effect from 1 August:

Rewards changes

www.westpac.com.au

These cards will also add monthly caps on the amount of spend that earns points at the full rate. After spending $5k/month on the Platinum cards, or $10k/month on the Black cards, the earn rate will halve.

The cards will introduce higher earning rates (compared to the new "all other purchases" rates - not necessarily compared to current earning rates) for international spend and with major supermarkets, department stores, petrol stations, dining and utilities.

 

[levelnine]

Banks are working very hard to squeeze the rewards space in Australia at the moment.

 

[kpc]

I just got the Westpac Altitude Platinum Card for bonus 75K Qf pts for $124 fee for 1 year. Might cancel as soon as bonus points post and ask for a pro rata refund in light of these changes!

 

[VPS]

Damn Damn Damn - its so much more effort to get a new card when retired

 

[kerfuffle]

I'd rather use my Amex; same foreign transaction fee, but 1.5 Velocity points per dollar instead of 0.75 (going by my recent purchases in Singapore)