All Bankwest Qantas Mastercard and More Mastercard credit cards will be impacted by these changes.
Changes to Interest Free Period
The maximum duration of the interest free period will be reduced from 55 days to 44 days for both products and all tiers – this means Classic, Gold, Platinum and World Qantas and More Mastercard products, from the next statement day on or after the 20 June 2016.
This means that your payment due date will fall approximately 11 days earlier than your current payment due date.
Changes to Qantas Points* earn rate
Effective 20 June 2016, the earn rate on your Bankwest Qantas Mastercard will change as follows:
- Bankwest Qantas World Mastercard earn rate will change to 0.66 Qantas Points per A$1 of eligible purchases rather than the existing 1 Qantas Point.
- Bankwest Qantas Platinum Mastercard earn rate will change to 0.50 Qantas Points per A$1 of eligible purchases rather than the existing 0.75 Qantas Points. That means for every $2 you spend on eligible purchases you will earn 1 Qantas Point.
- There are no changes to the earn rates on the Classic or Gold cards at this time.
Changes to More Reward Points** conversion rate
As of 4 July 2016 the points required to redeem products and services from the More Rewards website will change. You will be able to view all new point redemption values at bankwestmorerewards.com.au after this date.
Changes to Cashback redemption
As of 20 June 2016 cashback can only be redeemed on your More Rewards credit card. Cashback redemptions will automatically be applied to your More Rewards credit card linked to your member identification number.
Due to some recent industry changes, we have since reviewed our products and updated them in line with the market to ensure we continue to provide products that are competitive.
How does the change affect statement dates and payment due dates?
There will be no change to your statement date as a result of this change, but you will need to make your payment earlier.
If you have a payment set up scheduled for your due date, this will automatically change to reflect the new due date. You should ensure that you have sufficient funds in the account where the payment is coming from so as not to incur penalty fees or interest from overdrawing your account.
If you have recurring payments on fixed dates (other than “payment due date”) please ensure that you adjust to reflect the shorter interest free period.
What do you need to do once the change is live?
If you have a direct debit set up to be paid on the payment due date, your payment will be debited from your account 11 days earlier.
You should ensure that you have sufficient funds in your account beforehand to avoid any fees or penalty interest.
How will the points rate change impact me?
From 20 June 2016 any transactions posted on a Bankwest Qantas Platinum Mastercard or Bankwest Qantas World Mastercard will have points calculated at the new rates.
From 4 July 2016 the points required to redeem products and services from the More Rewards website will change. You will be able to view all new point redemption values at bankwestmorerewards.com.au after this date.
We encourage you to redeem your points ahead of 4 July in order to gain the most value from the points you have already earned.
Who can I speak to find out more information about this change?
If you have any questions or would like more information on your credit card, please contact the Customer Help Centre on 13 17 19 (8am to 8pm, local time 7 days a week).
Important things you should know:
Bankwest More Rewards and Bankwest Qantas Rewards are separate programs. Bankwest More Rewards and Bankwest Qantas Rewards exclusions, limitations and points caps apply. Qantas Points and Bankwest More Rewards are earned on eligible purchases only. Points earned and redemption values subject to change.
* Qantas Points are earned in accordance with and subject to the Bankwest Qantas Rewards Terms and Conditions available at bankwest.com.au. Membership and the earning and redemption of Qantas Points are subject to the Qantas Frequent Flyer program terms and conditions available at Qantas.com/terms.
** More Reward Points are earned in accordance with and subject to the Bankwest More Rewards Terms and Conditions.
Mastercard and the Mastercard brand mark are registered trademarks, and the circles design and Tap & go are trademarks of Mastercard International Incorporated.