Westpac is capping rewards points monthly from June 17th 2013

[wxxnxs]

Hi Folks

looks like honey moon is over, WBC is launching points capping scheme in every statement cycle from 17 June this year. Take a look this screen shot, and you will be shocked with that. I think bank is getting smarter, and we will have to face more difficulty with points accumulating from credit cards eventually. Banks are pushing those people who are currently using person cards to pay ATO to normal business cards.

	Altitude Platinum​	Altitude Platinum Plus​	Earth Platinum​	Earth Platinum Plus​
	Close​	Close​	Close​	Close​
	Apply	Apply	Apply	Apply
	Altitude Platinum	Altitude Platinum Plus	Earth Platinum	Earth Platinum Plus
	Close​	Close​	Close​	Close​
	Apply	Apply	Apply	Apply
Features​
Points cappingClose row​	In any statement cycle commencing before or on 16 June 2013, there’s no maximum number of points you could earn, using either or both cards. Effective for each statement cycle commencing on and from 17 June 2013, a points cap of 7,500 points applies when using either or both cards. Bonus points do not count towards the points cap.​	In any statement cycle commencing before or on 16 June 2013, there’s no maximum number of points you could earn, using either or both cards. Effective for each statement cycle commencing on and from 17 June 2013, a points cap of 7,500 points applies when using either or both cards. Bonus points do not count towards the points cap.​	In any statement cycle commencing before or on 16 June 2013, there’s no maximum number of Qantas Frequent Flyer points you could earn, using either or both cards. Effective for each statement cycle commencing on and from 17 June 2013, a points cap of 3,750 Qantas Frequent Flyer points applies when using either or both cards. Bonus points do not count towards the points cap.​	In any statement cycle commencing before or on 16 June 2013, there’s no maximum number of Qantas Frequent Flyer points you could earn, using either or both cards. Effective for each statement cycle commencing on and from 17 June 2013, a points cap of 3,750 Qantas Frequent Flyer points applies when using either or both cards. Bonus points do not count towards the points cap.​

 

[Hvr]

Absolutely disgusting. Fortunately I'm going to have a smaller spend for the next few months but as soon as possible I'll be changing.

 

[casanovawa]

3,750 QFF points on a platinum card?

Wow that's generous... ANZ better never try it...

 

[wxxnxs]

3,750 QFF points on a platinum card?

Wow that's generous... ANZ better never try it...

I doubt, CBA always have points capping, then NAB followed, now WBC, won't be long for ANZ.

 

[casanovawa]

Or they could be smart and attract plenty of business being the one to differentiate...

 

[Mattyana2003]

Is it true that Wpac and CBA already don't pay points on Bpay purchases?

 

[kpc]

Unbelievable!!! 3750 QF Pts cap / month for the Earth Plat Plus card......what are they smoking??

It is actually from June 17th!!

 

[Mattyana2003]

Our money rolled up like a cigar!

 

[Beta4Me]

That is insanity! That's $2.5K spend per month on the Alt Plat Plus Amex :S

 

[dajop]

Wow this is truly pathetic. My parents have the standard Altitude Amex/Visa combo (not platinum), the cap on that will be 5000pts (somewhere between $2500 and $5000 depending on the mix between Amex and visa). On an individual month basis, that's hardly a massive spend. Even $30K over a year isn't that much.

 

[Mal]

Nasty. But sadly the trend the card issuers are following. More competition is needed ....

 

[cove]

Westpac Platinum Kris Flyer Amex appears to be the only survivor. All the others will need to get cancelled after emptying any warehoused points. That will create room in my credit card/ gift card wallets.
Need to load up before the changes.
Westpac will get stacks of market share losses but I don't think they care.

 

[medhead]

Need to get my missing bonus points and then kill the Earth card. Shame really. I do love how bonus points are excluded from the cap. If you're not paying them in the first place, it hardly makes a difference.

 

[legroom]

Is it true that Wpac and CBA already don't pay points on Bpay purchases?

Yes, that's true

 

[legroom]

That is insanity! That's $2.5K spend per month on the Alt Plat Plus Amex :S

Lucky me !

I got my Alt Plat Plus card last week but kept procrastinating to activate it.

Now, I don't have to - with good reasons

Saved $295 in the process too.

 

[Princess Fiona]

:shock: :shock: I nearly fell off my chair!
Loyal Westpac customer who will be cancelling all cards.
Is there an uncapped direct sweep QF Amex left?

 

[Keith009]

That's a very low points cap for the top end card. I was tossing up between Westpac Altitude Platinum Plus and Westpac SQ Platinum and decided to go with the latter for cheaper fee, bonus SQ earn when booking SQ and a lot of my long haul burn is on SQ these days anyway. I'm glad I went with the SQ card but this change is making me a little nervous as it's only a matter of time before the SQ card is in the firing line...

 

[legroom]

.....
Is there an uncapped direct sweep QF Amex left?

Yes, sort of... Non AMEX though

Citi Select choosing the QFF option.

 

[asg29e]

:shock: :shock: I nearly fell off my chair!
Loyal Westpac customer who will be cancelling all cards.
Is there an uncapped direct sweep QF Amex left?

Only the Qantas Amex Ultimate. And then only if you've already got one.

 

[kevrosmith]

It makes the NAB $100k point-earn limit (recently introduced) look so generous now... :shock: