Westpac is capping rewards points monthly from June 17th 2013

[oz_mark]

Simply you trust them more than me which is your opinion, but remember this mob is a business, and their number 1 goal is to make money not to hand out free flights or points. Something for them has changed and perhaps their product no longer provides the return the share holders demand, or the greed has increased...

so the bait is the new un-capped card, the switch will be deep, deep in the fine print of the T&C's, pitty the poor buggers out there who don't know their plan yet and lose 0'000's of points all with the comfort of the bank telling them "these changes should have very little effect on the number of Qantas Frequent Flyer points you earn in the future"

I wouldn't say I trust them that much. I never started with Westpac - I started with other banks that have subsequently merged into Westpac. I simply don't see any Bait and Switch in the way that the the ACCC or the state departments would view Bait and Switch.

(and while I do hold an Altitude card, it is far from being my primary credit account)

 

[Edge]

got my letter + black notification yesterday.

black seems like an enhancement, though i assume we lose the complimentary insurances?

(i have the premier advantage package with my loans)

 

[Danger UXB]

Hangon, have I missed something here? The Altitude -> FF program redemption rates are also changing?[/QUOTE]



No sorry. They have not changed . But they have not in their letters clarified burn rate only earn rate of altitude points. Burn rates are totally seperate. I think someone, Simongr ?? ,possibly said something along similar lines earlier in the thread.

If they change the burn rate then I'll need the scissors next. They do have a history of doing this March 2004 from memory.

 

[oz_mark]

If they change the burn rate then I'll need the scissors next. They do have a history of doing this March 2004 from memory.

One would assume that if the burn rates were changing, that would also need to be subject of some sort of announcement. The previous change resulted in the notion of Reserved points where the redemption rate was protected, for points earned to that point.

 

[k3nnis]

Which altitude card do you have at the moment?
plat or plat plus?

got my letter + black notification yesterday.

black seems like an enhancement, though i assume we lose the complimentary insurances?

(i have the premier advantage package with my loans)

 

[bdl]

...
Of course, YMMV.

No, IHEA!

bdl

 

[wallacej]

My letter as a amex,visa plat plus customer is IHAA.

 

[chylld]

Had gold altitude MC+Amex with my loan package (premier advantage or whatever) as it was free. Upgraded for free to platinum last year and getting upgraded to black for free soon. Monthly spend $2k-5k, 1.1% discount on SVR loans for life

 

[k3nnis]

Did you have to request to get black for free on your premier advantage package or did they do it automatically?

Had gold altitude MC+Amex with my loan package (premier advantage or whatever) as it was free. Upgraded for free to platinum last year and getting upgraded to black for free soon. Monthly spend $2k-5k, 1.1% discount on SVR loans for life

 

[chylld]

Did you have to request to get black for free on your premier advantage package or did they do it automatically?

All automatic, never requested anything. Always pay off my CC in full every month... oh also my card limit is just over $10k (can't remember exactly what)

 

[k3nnis]

Ok thanks. I have the same package as you. limit of $9000. spend is approx 2k a month.

All automatic, never requested anything. Always pay off my CC in full every month... oh also my card limit is just over $10k (can't remember exactly what)

 

[Supersonic Swinger]

how so? Unless you have a Qantas Ultimate Amex the bank Amex cards are pretty good points earners. Certainly the attached Visas and MCs are not the best

Two reasons for me:

- For me, QFF points are far from the best value for my credit card spend; and
- the credit card divisions of major banks are just another profit centre, and they (more so than smaller or overseas banks) will use them to lock customers into other products. Those products are sold to customers as benefits and certainly help bank profitability, but may not be the most cost efficient for the customer if they look around.

 

[tim374]

I got a new code - INEA. Earth Plat Plus, "no effect" on points earn, no offer of Black and no mention of it in the link, that I saw. Lucky the better links are in the topic (thanks for sharing) which I'll try with Westpac if I don't get the Black offer.

 

[blackcat20]

I got a new code - INEA. Earth Plat Plus, "no effect" on points earn, no offer of Black and no mention of it in the link, that I saw. Lucky the better links are in the topic (thanks for sharing) which I'll try with Westpac if I don't get the Black offer.

Im an INEA too....totally useless link that one....

 

[ComeFlyWithMe]

I'm a WCGF'ed.

 

[ij05]

Got the letter for my Altitude Business card today - the link is a new code BIAA

 

[kpc]

Well, I'm one of the frustrated Westpac customers. I sent an email to Westpac last nite, and am waiting a reply...

Would be interested to know what the outcome is.

Well, got a reply from Westpac...2 actually. No problem switching both my cards to the Earth Black and Altitude Black cards; however, as I didn't get the letter offer for the black cards at the existing rate, getting the reduced fee of $250 and $295 annual fee respectively may be a problem. The bank manager said she will do her "best for me", and get back to me next week when she gets more information about the black cards!

 

[medhead]

Well I got my ILEA letter, earth platinum plus. Did the numbers on "should have very little effect" and over the last 12 months that would have cost me 46% of the base points earned. Had a rant on the Westpac facebook page and asked them to reduce my next closing balance by 46%, as it should have very little effect.... Keeping in mind that the last 12 months was a lower spending period for me on the card.

I rang the phone number and talked to some goose. My opening line was to ask if the letter is a deliberate insult to my intelligence with the 46% should have little effect. Just got BS in return, in particular trying to improve value, trying not to reduce redemption value. No answer when I said that as a direct sweep to Qantas card Westpac has little ability to reduce redemption value. They told me the black card was coming out on 25 March and details would be released then. I asked why I would pay $395 for a cap that is uncapped when I can get the NAB card for $250 with a cap that is 40 times the Westpac cap. Got told that they don't know the annual fee.

Ended the pointless conversation by telling them my feedback to senior management is that this card is suppose to be a premium card and the cap makes it a joke. Extra bonus partners - what a joke. And the greatest joke is they claim this is designed to make them more competitive.

Since then NAB have confirmed I can have their card as part of a package.

So I guess they don't want customers.

 

[Mardi]

Not sure I feel safe venturing back in here after a case of foot-in-mouth disease saw some people turning on me with the scissors they have poised to cut up their cards Thinking back over my conversation with my RM I am now second guessing what was actually said, since my impression at the time was that people who earn more points than the cap regularly will be offered black, but the mood of this thread suggests that is not the case.

I got two letters today. I have two WBC Earth cards, a plain one and a platinum plus. I use the plain one for expenditure on behalf of my mother, who is in a nursing home and therefore can't get one in her name. It's letter was the "the cap won't make any difference" so I will have to assess whether that is true or not. I guess I should just use the platinum plus for her spending as well to maximise points but it's so much easier to sort out reimbursing her or vice versa with separate cards.

The letter for the platinum plus was the "you will be offered the black card" variety and will hear more by 2 July.

 

[medhead]

Not sure I feel safe venturing back in here after a case of foot-in-mouth disease saw some people turning on me with the scissors they have poised to cut up their cards Thinking back over my conversation with my RM I am now second guessing what was actually said, since my impression at the time was that people who earn more points than the cap regularly will be offered black, but the mood of this thread suggests that is not the case.

Well you were right. I shouldn't have angst. This cap will end up saving me an annual fee and simply my finances. I should have checked the alternatives a long time ago.