Woolworths Qantas Platinum card to offer fewer points per $1
From 1 April 2018, cardholders will earn 0.5 Qantas Points per $1 spent on most purchases.
Currently, the credit card offers 1 Qantas Point per $1 spent on eligible purchases for the first $2,500 per month, then 0.5 points per $1 after that.
But Woolworths – which earned a 2017 finder award nomination for one of its credit cards – has updated its website with earn rate details that apply after 31 March 2018.
The new earn rate scraps the $2,500 spending threshold and halves the standard earn rate to 0.5 points per $1 spent.
There is a silver lining, though: you will still be able to earn 1 Qantas Point per $1 for spending at Woolworths, BIG W, Caltex Woolworths co-branded fuel outlets, BWS, Dan Murphy's and Cellarmasters.
The Woolworths Qantas Platinum also offers an additional point per $1 spent on selected Qantas products and services in Australia. This means you can currently earn 2 Qantas Points per $1 when you book Qantas flights, pay for a Qantas Club lounge membership or use the card for Qantas Frequent Flyer joining or annual fees.
After 31 March 2018, you’ll see this rate drop to 1.5 Qantas Points per $1 spent with Qantas.
So who are these changes likely to have the most impact on? Based on data from finder.com.au, the Woolworths Qantas Platinum is a popular option for people aged 25 to 34, followed by those aged 35 to 44.
People who seek out good value credit cards could also be affected, as this card's annual fee of $169 (reduced to $99 in the first year) was competitive when coupled with a standard Qantas Point earn rate of 1:1.
On the flipside, if you regularly shop at Woolworths and its partners, this card will still give you a way to earn 1 Qantas Point per $1 spent when the changes come into play on 1 April 2018. It’s also linked to the Woolworths Rewards Program, which allows you to earn reward points that can be converted to Qantas Points.
But whether you have the Woolworths Qantas Platinum or you’re thinking about applying for it, this change is a reminder to compare Qantas Frequent Flyer credit cards so you can find one that offers the most value to you.