UPDATE: The reduction in points earn for Bankwest Qantas Mastercards is now being rolled out to existing cardholders too. The new points earn rate comes down from 1 point per $ to 0.75 points per $ as of November 15th, which significantly reduces the value of the card now to both existing and new cardholders.
Previously, July 15th 2015: Unfortunately Bankwest have decided to cut the earn rate on their Qantas Mastercards to 0.5 points per $ on the Standard and Gold cards, and to 0.75 points per $ on the Platinum card, but thankfully (for me at least) for new applicants only.
I’ve used and abused my Bankwest Qantas Platinum Mastercard as my secondary card for several years now. This is the power of inertia – my day to day banking is with Bankwest, which I’m happy with, I rate their app and online banking systems, and the card yielded 1 Qantas per $1 spent, along with no foreign exchange fees on overseas transactions.
It dramatically reduces the appeal of the full Bankwest Qantas credit card range, and is odd considering Bankwest’s approach and trying to innovate with new products with their Bankwest Qantas Transaction account launched earlier this year.
Grrr… I have Qantas Platinum & now just received mail from BankWest…. they are reducing
points further!…..0.66 down from 0.75 WTF? Methinks its time for a switch!
I just went to the link and accepted the invitation.. even though i did not get one.. lets see what happens. If I dont get it .. i am happy to take my business elsewhere 😀
Only by invitation regardless I have a healthy $18k limit and spend and pay about $10k a month and was not invited and even though I also have 2 home loans and 2 other transaction accounts apparently didn’t meet the invitation criteria………
Yeah, I don’t get that. I am in a similar situation but did get the invite. Maybe they haven’t rolled the invitations out widely yet, only explanation I can think of other than weird criteria / limited numbers.
Only by invitation if you have a $12000 credit limit.
Goodbye Bankwest!!!!
Info on there new ‘World’ card is only at bankwest.com.au/world
Thanks for this, helpful…
They are introducing a World card that will restore the 1:1 QFFF regime.
Looks like they’re extending this same rate cut (1pt/$1 down to 0.75pt/$1) to all pre-existing customers for purchases from November 15th. At least this is what my latest statement is telling me.
Thanks for the heads up – I can see the same. I’ll update this post and resurface to ensure noone misses it.