Isn't that what is going to happen eventually?
I think this is the beginning of the end. RBA wants to tinker with interchange rates again. Banks won't give up their multi-billion dollar profits, merchants are getting antsy about increased fees, so it's down to you and I to keep the banks solvent.
As I am retired, and spending as little as possible to preserve savings, and survive on the pension, I cannot earn as many points these days. I try to put everything I can on my ANZ Amex, but am growing weary of businesses who won't take Amex, and I have to use my Woolworths Visa Card. I'm not enamoured with Woolworths/Macquarie, but I cannot get a new card anywhere else now.
On my rare travels I usually fly Air Asia and look for bargains, so FF points are no longer much use, mainly because I never had enough, and the age old problem of not being able to get a flight anyway. I have finally reached the conclusion of the futility of FF points. I have the 280k QF points I need for a biz class trip to London and back, but realistically, am I ever going to be able to get a flight? Probably not. I have no status. The burn rate will change again soon, as QF need to constantly "enhance" the program to keep it fresh!
So I think I will soon be saying goodbye to FF points and schemes. They no longer work for me. In the early days they were great, I had many flights on American, Delta, TWA, and United way back in the 80's, and started with QF right at the beginning. But the glory days have long gone.
I'm better to go somewhere like ING and use their cashback scheme now I think, and forget about points.
