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...)

 

[aussieboozer]

My wife has had the black Qantas card for many years on a grandfathered annual fee of $150. Not only do the point earning changes severely reduce its value to us but they now want to charge an annual fee of $295 + a $95 Qantas reward fee for a thoroughly unrewarding card. Will definitely be cancelling before it renews.

 

[danielwang002]

My wife has had the black Qantas card for many years on a grandfathered annual fee of $150. Not only do the point earning changes severely reduce its value to us but they now want to charge an annual fee of $295 + a $95 Qantas reward fee for a thoroughly unrewarding card. Will definitely be cancelling before it renews.

150 gf is definitely worth. 295+95 is pure horse sxxt mate

 

[JK1964]

I too had a grandfathered fee of $100 for the Altitude Black card, which was worthwhile if just for the two Priority Pass lounge visits. At $295 will clear out the points balance and not renew.

 

[m535607]

Hi Aussieboozer Did your wife receive a letter from Westpac stating her grandfathered annual fee will increase? I am on a grandfathered annual fee and was advised at that time by their retention team that the fee is guaranteed not to increase for life...so they should not put the annual fee up

 

[Trephinator]

PayPal/Afterpay spend at "everyday spend" retailers earning at the "all other purchases" rate will catch people out.

I wonder if Gift Card purchases for every day spend retailers will earn at the higher rate.

 

[albyd]

Are there any good GC offers atm aside from the Coles MC GC offers which used to be regular but haven't been seen for months now since Coles randomly cancelled the last offer mid-campaign?

 

[wsthong]

I too had a grandfathered fee of $100 for the Altitude Black card, which was worthwhile if just for the two Priority Pass lounge visits. At $295 will clear out the points balance and not renew.

I too had a grandfathered fee of $100 for the Altitude Black card, which was worthwhile if just for the two Priority Pass lounge visits. At $295 will clear out the points balance and not renew.

My card had grand fathered fees as well. Call the bank, rep said the bank can change the fees. Can GF fees be changed?

 

[elanshin]

I wonder if this change is reflected on the business card side @Mattg would you happen to know?

My card had grand fathered fees as well. Call the bank, rep said the bank can change the fees. Can GF fees be changed?

Yes they can change it at anytime as long as it wasn't any "life long" obligation. Grandfathered really only means the company decided to keep the deal the same for the old customers more out of goodwill. There's no contractual obligation past the timeline of the initial contract.

 

[wsthong]

I wonder if this change is reflected on the business card side @Mattg would you happen to know?


Yes they can change it at anytime as long as it wasn't any "life long" obligation. Grandfathered really only means the company decided to keep the deal the same for the old customers more out of goodwill. There's no contractual obligation past the timeline of the initial contract.

How many would remained loyal, I wonder?