business
Credit Cards Offer Up to 200,000 Frequent Flyer Points Ahead of Surcharge Ban
Several Australian-issued credit cards continue to advertise large sign-up bonuses of Qantas and Velocity points. The offers remain available even as a nationwide ban on explicit card surcharges takes effect October 1.
May 29, 3:01 PM·1m read1 source
The Sydney Morning HeraldAudio version
Tap play to generate a narrated version.
Developing·Limited corroboration so far. This page will refresh as more sources emerge.
Multiple credit cards continue to advertise large upfront bonuses of Qantas and Velocity frequent flyer points, despite an approaching nationwide ban on explicit credit-card surcharges. The surcharge prohibition begins October 1. After that date, banks and card issuers will no longer be permitted to charge customers separate fees for paying by card, which is expected to reduce issuer margins.
Comparison site Canstar listed the largest available sign-up bonuses. Westpac Altitude Black, BankSA/Bank of Melbourne/St.George Amplify Qantas Signature, and Qantas Money Titanium each offer 150,000 Qantas points. ANZ Frequent Flyer Black and NAB Qantas Rewards Signature provide 130,000 points, while MyCard Prestige Qantas offers 125,000 and Qantas Money Platinum offers 120,000.
All listed cards carry interest rates above 20 percent.
The article states that consumers who carry a balance month to month should avoid these products. Some offers require cardholders to meet minimum spending thresholds and to remain enrolled for up to 15 months before receiving the full bonus. Annual fees on the highest-bonus cards range from $700 to $1,200.
Several issuers have raised both bonus amounts and spending requirements since the surcharge ban was announced. Others have reduced bonuses while increasing minimum spend. The article notes that some programs now tie full point delivery to continued card use into the second year.
