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.