Woolworths Qantas Platinum cardholders will have their earn rate halved to just 0.5 Qantas points per $1 spent from 1 April 2018. It’s just the latest in a series of cuts to a credit card that was once highly competitive.
The Woolworths Qantas Platinum credit card currently awards 1 Qantas point per dollar for the first $2,500 spent per month. Once this cap is reached, only 0.5 points per dollar are earned for the rest of the month. But Woolworths Money will now drop the normal earn rate to just 0.5 Qantas points per dollar. Expenditure at Woolworths Big W, Woolworths Petrol, Cellarmasters and Dan Murphy’s will still earn 1 Qantas point per dollar. But cardholders will almost certainly be worse-off unless they normally spend more than $2,500 per month at these stores.
The Woolworths Qantas Platinum card also comes with 10% off one Woolworths shop per month, up to $500. For some, this benefit is enough to justify keeping the card.
I’ll keep mine. It won’t be used for purchases, but the discount from the “once a month 10% off shop” at Woolworths it offers (capped at $50 off each month) will – over a year – exceed the annual fee I pay. If that benefit is ever enhanced, I will terminate the card with extreme prejudice.
But for others, this most recent cut is the final straw.
Had no correspondance from them yet but it looks like a change is on the way. If so the card will get cut from my wallet as that’s a shocking earn rate for most of my spend.
Wow nasty!, My annual fee is due next month. I will only keep the card if they waive it. This was a good card to start with.
The Woolworths Qantas credit card used to be extremely competitive, with an $89 annual fee and an uncapped earning rate of 1 Qantas point per dollar. But over the past few years it’s been on a steady decline. There have been cuts to earn rates, a removal of points for ATO spend and the annual fee has increased to $169.
Join the discussion on the Australian Frequent Flyer forum: Upcoming points earn cut?