I got a call today from Woolies Money - was asked why I hadn't activated the new card, to which I simply responded "points capping". The rep offered to waive my next annual fee if I activated, but I politely declined (I've already changed all my direct debits over to my new HSBC Qantas Platinum Visa and can't be bothered with multiple cards).
Despite not activating the new card, my card account remains active so annoyingly I'll have to call to cancel once I've paid off the balance on my April bill (due in a few weeks). Interestingly, the rep couldn't tell me if should use the old (Master Card) or new (Visa) card number to BPay off my final balance, and said I would need to speak to customer service to get an answer - didn't waste my time and I'll just use the new card number to avoid any delays/late fees/interest.