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

[elanshin]

How many would remained loyal, I wonder?

Loyalty has never been the goal for any bank (or telecommunications). Your best goal is always to hop around on CC and mortgage products. What they don't want is for it to be too frequent.

At the end of the day one of the key metrics is "new customer acquisition". Much flashier than "customer retention rate"

 

[Aeryn]

My Altitude Black including Qantas fee has always been free and should be for life. Its a back up card when churning others but the earn rate on the occasional spend is so much lower than ANZ Black, NAB Black or Amex that I'm thinking of closing it anyway, to reduce my credit total.

 

[oz_mark]

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

Unless there is specific language around the fee being for life, it can change. Often increased fees only apply to 'new' customers, with them being rolled out to 'existing' customers later.

 

[Mattg]

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

I'm not currently aware of any changes to the business cards.

 

[Kremmen]

I just wish there was a button to convert marketing wanker-ese ("earn rate" and "spend cap") into English ("earning rate" and "spending cap").

I also wonder why "Points-Earning Caps" isn't "Points-Earn Caps" for consistency.