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Westpac Amex cards - gone

sudoer

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Hope this partnership comes back eventually - it's been a good earner while serving an 18 month wait for Amex signup bonus, and some of the Amex Offers are actually useful.

Westpac certainly wasn't pushing them hard, but the Qantas Black Amex was one of the better value cards around recently IMO - $199 annual fee, 1.25 points (+0.75 Int, +1.25 QF) per dollar and $3k min credit requirement made it great for churning!
 

Mattg

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After all that effort Westpac went to to create an Amex-issued product to get around the RBA changes, this seems like a sad outcome.

Interesting that Westpac has blamed a "significant change in consumer appetite for bundled credit card products" - I presume this is covid/recession-related.
 
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sudoer

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Interesting that Westpac has blamed a "significant change in consumer appetite for bundled credit card products" - I presume this is covid/recession-related.
I think Westpac's promotions for the card was also part of the problem - and that was pre-covid.

The sign-up bonus on the Black Amex was a mere 20k QFF for $199, compared to the 80-100k on the Black MC for $250 or 120k on the direct Amex Qantas Ultimate for $450 (w/ $450 travel credit). I can certainly see how it could have lacked appeal to the average punter looking for a quick serve of Qantas points.
 

Lynda2475

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Interesting that Westpac has blamed a "significant change in consumer appetite for bundled credit card products" - I presume this is covid/recession-related.
Covid might have been the last nail in the coffin, but fact is Westpac too long to stand up a Amex product after banks stopped issuing Amex cards and when they did, the reduction is Altitude Qantas earn and introduction of annual fee to get Qantas points made it unappealing.

I used to have Earth Black (QFF earning which replaced original Altitude) MasterCard & bank issued Amex combo a legacy option which had great points earn, no annual fee, no rewards fee. I still have the MasterCard as it costs me nothing and use it only when im churning other cards, but before Westpac announced their new Amex partner cards Id already switched to the Amex Qantas Ultimate which effectively costs nothing due to the travel credit and has better sign-on bonus, and better points earn, so had no need for what Westpac eventually stood up.

I think the smart cookies just realised it is much easier to get your Amex directly from Amex with superior points earn and sign-on bonuses, and just get a Visa or mastercrd or both directly form whichever bank is offering best incentive and then churn before any 2nd year fees are due.
 

madrooster

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I think Westpac's promotions for the card was also part of the problem - and that was pre-covid.

The sign-up bonus on the Black Amex was a mere 20k QFF for $199, compared to the 80-100k on the Black MC for $250 or 120k on the direct Amex Qantas Ultimate for $450 (w/ $450 travel credit). I can certainly see how it could have lacked appeal to the average punter looking for a quick serve of Qantas points.
Even on a regular day, without sign up bonuses being considered... at $199 for the Westpac Black Amex, $250 for the Westpac Black MC and then a $50 QF rewards fee on top, it was quite an expensive proposition totalling $499/year.

As you mentioned, the Amex QF Ultimate with the $450 travel credit is by far a better proposition here in combination with the Westpac Black MC. With the travel credit factored in, it's just $300/year to hold both cards.
 

33kft

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One advantage of the Westpac AMEX was that it was able to be held whilst serving out an AMEX exclusion period (for AMEX branded cards) as it did not count. Probably more important back when AMEX cards had higher earn rates, but still all the Visa/MC cards except the St George card (that I know of) have a cap for their earnings if they are anywhere near AMEX rate.
 

mrmerc500

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This was surprising news & disappointing to hear as it could have the potential to weaken the competitiveness of the local credit card market.

I wonder if it was a directive from Amex directly looking to reduce credit liability however understand from a consumer’s perspective that 2 credit checks, limits & annual fee’s isn’t necessarily ideal.

It was a great package card to obtain if the Amex fee was $0 as was the case at least once & the Westpac card fee could be justified or was included with a Homeloan package.

It was considered Amex Affinity & had seperate statement periods.
 

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