Westpac Altitude Points Devalue September 2016

[cove]

This news on the changed earn rate from Altitude affects two in our family as we have warehoused points. We skyped our youngest son to discuss the points transfer for him as it means he can transfer and drop this card prior to the next annual fee.
We have 2 Citi Prestige cards already and they do work well for our personal expenditure. These cards may not suit everyone due to the annual fee but by booking two stay 4 nights and pay for 3 nights I have saved almost $700.

 

[kkl]

looks like i will be transferring my warehoused points out and going for the citi prestige

prestige having half price fee at the moment $350

 

[bbqwer]

Got 1.5m altitude points, and now what to do ? Old rate will give me 750k KF , new rate is 600k KF ( huge differences 150k KF, this is return ticket J class to europe )

any suggestion guys ?

 

[Deleted member 29185]

Whilst 1.2KF miles per $ spent with the Westpac Altitude Black still isn't too bad, anyone know if there are any cards (eg bank issued Amex cards) that are still giving 1.5KF miles per $ spent?

I use the Priceline AMEX a fair bit simply because it gives me a good point earn on my most used spend....Masters (we're renovating at the moment) 2/$, fuel 2/$, supermarkets (except Aldi) 3/$ and Dans/ALH 2/$. For VA (3/$), restaurants (3/$) and accommodation (2/$) I use the Velocity platinum but it's only Velocity points, so still the 1.35:1 tnf rate to KF but that still returns 2.22KF/$ and 1.48KF/$ respectively. For any other AMEX spend, I use NAB Velocity AMEX which is 1.5/$ velocity or 1.11KF/$ and for non-AMEX spend, I use the JQ plat M/Card which gives me 1QFF/$.

I know it doesn't totally answer your question and I will be looking at the answers as well, but there are isolated gems still around.

 

[ninja-tim]

FYI, at the new redemption rates of 2.5 points for KF and AM it works out to be.
1.2 KF points per dollar for AMEX and 0.5 points per dollar for M/CARD compared to 1.5 and 0.625 previously.

No changes to Velocity or Air Points, I have this card free for life as it is part of my home-loan package so i will keep it.

Still a great card for warehousing points and still decent rates for AMEX spend.

Will probably need to look at Citi prestige for Visa/MC spend.

Let me know if there are any other suggestions for AMEX/MC/VISA combos or cards.

I mainly prefer Krisflyer.


Cheers

1.2KF/$ on the Westpac Amex is still pretty good comapred to other Amex on the market at the moment for general use isn't it?

I'm planning on moving all my points (albeit it under 500k points) to KF but most likely keep it for general use as 1.2kf/$ is better than 1.11kf/$ (after conversion from VA) which is the next best thing that I can find (excluding the Plat edge, not sure of those conversions).

I am moving my ATO spend to St George now as it's a visa with 0.75KF/$. I hope this change by Westpac doesn't affect the St George card :S

 

[burmans]

Got 1.5m altitude points, and now what to do ? Old rate will give me 750k KF , new rate is 600k KF ( huge differences 150k KF, this is return ticket J class to europe )

any suggestion guys ?

Not sure what you are asking for suggestions on? As you note is a huge difference so I'd be moving the money out and starting to plan a holiday in the next 3 years.

 

[bbqwer]

Not sure what you are asking for suggestions on? As you note is a huge difference so I'd be moving the money out and starting to plan a holiday in the next 3 years.

Was asking what others would do, because transferring to KF going to kill all flexibility compare to sitting at altitude account.

 

[Cruiser Elite]

Was asking what others would do, because transferring to KF going to kill all flexibility compare to sitting at altitude account.

I think it is a no-brainer bbqwer - KF here we come!

 

[cove]

That is what I am thinking CE.

 

[awkwardpaws]

Got 1.5m altitude points, and now what to do ? Old rate will give me 750k KF , new rate is 600k KF ( huge differences 150k KF, this is return ticket J class to europe )

any suggestion guys ?

IMHO think you need to decide between the value of 150KF to you and whether you plan to book something in the next 3 years. no point transferring if you are not able to use the KF in the next 3 years

 

[cove]

You can extend KF miles by 6 months for a fee.

 

[burmans]

You can extend KF miles by 6 months for a fee.

Indeed, it's really closer to 4 1/2 years in reality, you can first extend by 6 months, you can then book nearly a year out from the 3.5 year point (330 days from memory). Plus you can then change that flight any time up to expiry date (3.5 years plus 300 days). In regards to this last my wife managed to effectively push this out by other 4 months when she did this, not sure if this is supposed to be a benefit but they allowed it.

In doing so she effectively used points 4 years 9 months after she earned them.

 

[boomy]

In the latest statement, Westpac notified me that they will be devaluing the points on Altitude cards beginning Wednesday 28 September 2016.

Details are here: altituderewards.com.au/change

This will affect anyone warehousing points on these cards. Best to redeem your points a week before this date.

Thanks for posting!

I rarely bother reading their statement and would have probably missed the date. Now must remember to convert all points to KF few days prior.

 

[burmans]

Now must remember to convert all points to KF few days prior.

Yes, suspect that will be a few of us doing that, the main question is whether I will be cutting up the card at the same time.

 

[get me outta here]

This is sad as I was just about to apply, but wouldn't take the risk now that the points will be way too late into my account to transfer to SQ.

 

[boomy]

Yes, suspect that will be a few of us doing that, the main question is whether I will be cutting up the card at the same time.

Depends on the annual fee I suppose. Mine is free for life through a mortgage package so I'll keep it.

 

[jgm]

Although the reduction in FF points is disappointing, the big advantage of the Altitude card for me still remains. That is the "free" travel insurance. It is still way better than most of the other cards' schemes, and at least equal to any paid TI I have used over the years.

 

[DTM1]

looks like i will be transferring my warehoused points out and going for the citi prestige

prestige having half price fee at the moment $350

Can you please post a link to where the half price fee is offered.

thanks

 

[prozac]

I have 1.5m points warehoused. The difference on transfer 750k real points versus 600k real points. No brainer what I will need to do.

This would have to rate as one of the most valuable posts from a new member forumninja! Well done and welcome to AFF.

 

[cove]

prozac I am thinking I will put some into Asia Miles for the first time and the rest into Kris Flyer as I usually wait for the Velocity bonus when I am transferring to them. Right now I have many Velocity points and my sons now have their own.