Changes to FF Redeem rate

[Leroy87]

Just logged in to Commbank awards today to see my points balance and found these changes:

As of 1 November 2013, Awards and Gold will only be able to transfer to Velocity at 2.5:1 (no change for Platinum or Diamond redeem rate... yet)

As of 1 October 2013, Awards and Gold will only be able to transfer to Qantas at 2.5:1 (again, no change for Platinum or Diamond yet)

As of 20 November 2013, Air NZ Airpoints will no longer be available in the Commbank rewards program.


I'm ok, as I currently have a platinum card, but it did make me fear for my points that are sitting there, seemingly ripe for devalue when commbank makes the call.

Does this greatly affect anybody? Did people even use Air NZ?

 

[Newk]

Just logged in to Commbank awards today to see my points balance and found these changes:

As of 1 November 2013, Awards and Gold will only be able to transfer to Velocity at 2.5:1 (no change for Platinum or Diamond redeem rate... yet)

As of 1 October 2013, Awards and Gold will only be able to transfer to Qantas at 2.5:1 (again, no change for Platinum or Diamond yet)

As of 20 November 2013, Air NZ Airpoints will no longer be available in the Commbank rewards program.


I'm ok, as I currently have a platinum card, but it did make me fear for my points that are sitting there, seemingly ripe for devalue when commbank makes the call.

Does this greatly affect anybody? Did people even use Air NZ?

Wow, good pick up, thanks
As a diamond holder I'm not affected yet
I am on the QF sweep, and don't use NZ points anywhere else....although don't rule it out entirely one day

 

[DeKa]

What was the old rate? I have some family members with these cards.
Thanks

 

[paultiffen]

I believe it was 2:1

 

[akeno]

Unfortunately Platinum is affected. The earn rate on Commbank Platinum is 1.25 QFF points on Amex effective from 1st October 2013.

The only card not affected yet is Diamond. I think this new earn rate is very rubbish. Good thing i canned my Gold card.

The new earn rate (effective from 1st of October) is as follows:

Award Card
0.4 QFF points per dollar on MasterCard
0.6 QFF points per dollar on Amex

Gold
0.4 QFF points per dollar on MasterCard
0.8 QFF points per dollar on Amex

Platinum
0.4 QFF points per dollar on MasterCard
1.25 QFF points per dollar on Amex

Diamond
0.625 QFF points per dollar on MasterCard
1.5 QFF points per dollar on Amex

https://www.commbank.com.au/personal/credit-cards/expect-more/frequent-flyers.html

 

[Leroy87]

Unfortunately Platinum is affected. The earn rate on Commbank Platinum is 1.25 QFF points on Amex effective from 1st October 2013.

Bummer didn't notice this one as well, I was only looking at the redeem rates on the awards page.

Seems the real change for platinum card holders is that the AMEX (from October) will only earn 2.5 award points per dollar, not 3. This has an effective flow-on to QFF point level (only 1.25 pts per dollar at 2:1).

 

[lovestotravel]

Since Amex issued Amex cards changed their earn rate, it was always going to flow down to banks etc

Also as merchant fees continue to drop, reward rates continue to drop in-line with this

 

[Intra]

Bummer.... Looks like I'll be doing amass transfer of CBA Points soon....

 

[WPHT]

Must be why they are doing rounds of upgrades recently.

About a month ago I got sent Diamond cards in the mail offering a free upgrade, all I had to do was activate and destroy old cards etc.

And a friend also recently got the same but for Platinum cards.

I'm not complaining, yet, unless this is just a step in the direction to change Diamond too...

 

[jj92]

I currently have a gold card. Should I ask them to give me free upgrade to Platinum Card?

 

[PLANT]

So I understand and see the the changes for QFF as per: Frequent Flyer - Earning Points - Pay to this https://www.commbank.com.au/persona...or/commbank-awards-credit-card-redemption.pdf

What I want to check is if you do not have direct sweep and have the PLAT card for free 1. Best not to contact them and pay $10 for direct sweep. 2. No fee for Virgin sweep and can be done anytime? 3. Whats happening on 1 Nov to Virgin sweep?
Is there any 25% increase happening before 1 Nov

Regards

 

[bismarck]

Very disappointed with this change (and lack of communication). Have dumped all my Commbank accounts as a result.

 

[akeno]

So I understand and see the the changes for QFF as per: Frequent Flyer - Earning Points - Pay to this https://www.commbank.com.au/persona...or/commbank-awards-credit-card-redemption.pdf

What I want to check is if you do not have direct sweep and have the PLAT card for free 1. Best not to contact them and pay $10 for direct sweep. 2. No fee for Virgin sweep and can be done anytime? 3. Whats happening on 1 Nov to Virgin sweep?
Is there any 25% increase happening before 1 Nov

Regards

i use to have the gold awards card and to my knowledge commbank would not allow me transfer my award points to Qantas unless I earned those points on the Qantas Direct program (which cost $10 a year). Since the earn rate isn't changing on velocity and its free to transfer to velocity, i would just stay with commbank awards.

i haven't personally received any communication yet about any 25% bonus points for transferring to velocity.

 

[lovestotravel]

Commbank still serves me well with an easy 1.5 points per $ spent on Amex for Qantas without having to worry about what I am buying

 

[maomaocat]

I'm pretty peeved about this. I just got the email half an hour ago, and I'm half an hour behind Sydney, so I had a very limited window in which to call up to complain before the long weekend. My new statement period started yesterday, too.

Time to look for new cards!

 

[scheps]

Just curious, if one was to upgrade and change to QF (pay $10) do existing points turn into QF? or you just lose the existing points? or have two pools of points?

 

[aerotravel]

I've cancelled my platinum card now. complained the $250 annual fee wasn't in line with points earning devaluation.

They didn't even try to keep me e.g. waive annual fee....
Oh well...