Specifically, those who have opted in to earning Qantas Frequent Flyer points with their David Jones Amex or David Jones Amex Platinum card will find their earning potential reduced from 15 April 2019.
Last year, Amex publicised significant changes to its rewards program coming into effect on 15 April of this year. But the change to Qantas transfer rates on David Jones Amex cards was not previously announced.
Currently, both of Amex’s David Jones cards award 0.75 Qantas Frequent Flyer points per 1 Amex Membership Rewards point. Cardholders earn 1 Amex point per dollar spent on the card, increasing to 3 points per dollar spent at major supermarkets and petrol stations. But from 15 April 2019, the transfer ratio will reduce to 0.5 Qantas points per 1 Amex point.
It’s effectively a reduction in Qantas points earn from 0.75 points to 0.5 points per dollar on everyday spend. For spend on groceries and petrol, the earn rate will reduce from 2.25 Qantas points per $1 to 1.5 Qantas points per $1 spent.
At this stage, we’re not aware of any changes to transfer rates for David Jones Amex Rewards points. This is the program used by David Jones Amex cardholders that choose to opt-in to earning Amex points instead of Qantas points.
Amex began contacting existing cardholders today, giving David Jones Amex cardholders that earn Qantas points exactly three months’ notice of the devaluation. New David Jones Amex customers are already earning Qantas points at the lower rate.
The David Jones Amex credit cards remain a relatively good earner of Qantas Frequent Flyer points, even after the changes, for spend at supermarkets, petrol stations and David Jones stores. But for everything else, the card is no longer all that attractive, earning just half a Qantas point per dollar.
After the changes take effect, it may become better value to earn Amex Membership Rewards points with a David Jones card instead of Qantas points. The earn rate is still only 0.5 airline points per dollar, but you’ll have the flexibility to transfer the points to 11 airline and hotel loyalty programs including Singapore Airlines KrisFlyer, Cathay Pacific Asia Miles, Virgin Atlantic Flying Club and Virgin Australia Velocity.
Join the discussion on the upcoming Amex changes on the Australian Frequent Flyer forum: Reduced AMEX earn rates from April 2019
Are you prepared for the upcoming Amex changes?
Frequent Flyer Solutions is hosting a webinar at 8pm (AEDT) on Wednesday, 23 January covering everything you need to know about the upcoming Amex changes. Find out more: Webinar – Amex Points Devaluation: What Now?