Macquarie cuts earning on Qantas cards

Last week, I wrote about Macquarie removing the ability to earn points on the Hilton HHonors Macquarie card wheh paying the ATO. Since then, I have learnt that the change also affects the Macqaurie Qantas Rewards card. These cards will also be having a tiered earning applied to the cards.

Macquarie have two flavours of the Qantas cards – the platinum card and the black card. Both are being affected by changes that affect ATO payments. Holders of the card have reported similar emails to those received by the Hilton HHonors card.

ATO Payments

Qantas Points are not earned in respect of the following amounts that may be charged to your account:

  • GST and government charges (including fines paid to any government agency)
  • payments made to the Australian Tax Office
  • interest and other bank fees and charges (including any GST payable on any of these)
  • BPAY® payments, i.e. bill payments and other payments made through the BPAY Electronic Payments Scheme
  • cash advances
  • transactions
    for items that are directly convertible to cash (including, but not
    limited to, purchase of foreign currency and travellers cheques) or cash
    equivalent transactions
  • balance transfers
  • transactions deemed by us to be for operating a business or in connection with business expenditure
  • transactions that are reversed (refunds)
  • payments for credit card protection insurance
  • transactions used for gambling purposes (including gambling chip and lottery ticket purchases).

Point Tiers

Point Tiers are being applied to holders of the Macquarie Qantas cards.  For the Platinum and Black cards, earning will remain at 1 Point per Dollar charged to the card, up to a spend limit per month. Once that limit is reached the earn rate on the card will drop back to 1//2 point per dollar. Note that there is still an annual spend limit of $200,000 per year that will earn Qantas points on these cards.

For Platinum

  • 1 Qantas Point per $1 spent on eligible purchases for the first $2,500 spent per statement period, then 0.5 Qantas Points per $1 spent thereafter per statement period

For Black

  • 1 Qantas Point per $1 spent on eligible purchases for the first $4,000 spent per statement period, then 0.5 Qantas Points per $1 spent thereafter per statement period

For new customers, the change to a tiered structure will be effective from 20 June 2016

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