High Flyer came out ahead for me on this one, especially with the $129 VA voucher
I suspect it might be wise to take a wait & see approach. According to the press report below, Citibank are just the first to move. I think over the coming months, many of the other card issuers will also reduce their frequent flyer offerings.
It would be a waste of time applying for a new card, only to find that it also became another poor offering in 3 or 4 months time.
Citi first to cut loyalty program benefits
I'm currently looking at the Jetstar Platinum Mastercard:
Earn rate 1 Qantas FF point per $1 spent
First year $69 then $149pa
Spend $3000 in the first 60 days & receive 40,000 bonus QFF points
100,000 annual points capping
Jetstar’s Platinum Mastercard offering 40,000 bonus Qantas Points and reduced annual fee of $69, along with new Jetstar benefits - Point Hacks
Another alternative is the Qantas Credit Union Visa Platinum Credit Card:
30,000 bonus QFF points (5000 on signup & then 5000 on each use for the next 5 months)
Earn rate 1QFF point per $1 spent
Annual cost $195
No annual points capping
Qantas Credit Union Platinum Visa Guide - Point Hacks
For my Amex card I'm looking at the American Express Platinum Edge:
3 points per dollar spent at supermarkets
2 points per dollar spent at service stations
1 point per dollar with most other merchants including 0.5 point spent with the ATO
1 free flight per year on Virgin domestic between selected airports
Ability to send points to Virgin, Kris Flyer or Asia miles
$195pa
Exclusive! Point Hacks & American Express Platinum Edge offer with 15,000 bonus Membership Rewards points - Point Hacks
If you order it through the Priceline link below, you get the first year free provided you spend $200 with Priceline. You also qualify for 13,500 bonus points.
https://www.priceline.com.au/amex
I'm sure there are lots of other offers out there, so please keep the suggestions coming.