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)

 

[albyd]

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

It appears that way. I won’t be using mine very much anymore. Guessing Amex will follow suit at some point and then that’s that with AU cards. Shame

 

[mandja]

So...does this affect rates earned etc for Amplify cards?

 

[albyd]

I suspect they will be changing these soon since Westpac is St George’s parent company.

 

[blacksultan]

Just had my second year fee charged on Westpac velocity black . Chatted with them about rebate , or refunding within product t change . Said not possible . Asked me to call in .
Any similar experiences ?

 

[danielwang002]

Well WBC card had always be one of the worst "Bank Issued" Credit Card here in OZ...Better try ANZ if possible. Although WBC still bundle CC with Loan Package so hmm could be still worth it somehow if you got it bundled(i.e. no AF)

 

[danielwang002]

It appears that way. I won’t be using mine very much anymore. Guessing Amex will follow suit at some point and then that’s that with AU cards. Shame

I am interested to see what would happen after CY2025 due to Amex's Plat Charge 200+200 Dining Credit is coming to an end and the Amazon Prime Credit too(as planned not sure if they gonna extend that or nah). Also Amex is squeezing the "0 AF" credit card series as currently only can apply Qantas Discovery(which is still a good card but no VA coverage and no free "For-Keeping-MR" card anymore...)