With the credit card surcharges and interchange fee changes taking place from October 1, banks have been moving to adjust their reward programs. Westpac is the latest to move, announcing a series of changes to its Westpac Altitude card lineup.
The changes follow recent change by Nab on its own products, and its whitelabel products including MyCard and Virgin Money cards.
For travellers, this means two things: •
- You will need to pay more: Westpac is introducing or increasing the Rewards fee on the programs•
- Redemptions will cost more: Members of the Westpac Altitude program will need more points when making gift card redemptions or transfering points to partners
Changes Overview
Westpac issues several variants of its Altitude credit cards.
- The Altitude Rewards cards earn Altitude Points, which you can redeem in multiple ways.
- The Altitude Qantas and Altitude Velocity cards earn points directly in their respective frequent flyer programs.
With upcoming program changes, all three card groups will see updates to fees, earning categories, and points rates. Here’s a breakdown of what’s changing across the cards.
Higher Rewards Fees Across All Cards
One of the biggest changes is the increase in Rewards Fees.
- Altitude Rewards: A new Rewards Fee is being introduced for the first time.
- Altitude Qantas & Altitude Velocity: Existing fees will increase, with the final amount depending on your specific card.
This update means every cardholder will either start paying a fee or see their current fee rise.
Updated Spending Categories
The program uses three spending categories to calculate points:
- International spending
- Everyday spending
- All other spending
The major change is the Dining category moving from Everyday Spending to the All Other Spending category.
Dining includes:
- Restaurants
- Cafes
- Fast food
- Hotels
- Entertainment venues
This shift means dining transactions will now earn fewer points than before.
Adjusted Points Earning Rates
Some cards will see small changes to their earning rates across selected categories. These adjustments vary by card type but generally reduce the number of points earned on certain purchases.
The Changes by Program
Westpac Altitude Program
Fees
The big one on the fees side is that there will be a new Rewards Fee applied to the account. For both Platinum and Black cardholders this is set at $75 per year.
Earning
If you are in the Westpac Altitude Program, there are not many changes on the earning side of the equation. The main one is that dining will move from ‘Everyday Spend’ to ‘All Other’. All other earn rates will remain the same.
For Platinum Cardholders the earn rate will be
| Total spent on eligible purchases per statement cycle | Points earn rate |
|---|---|
| 2 | Altitude points per $1 on international spend |
| 1.25 | Altitude points per $1 on everyday spend (Supermarkets, department stores, petrol stations, and utilities) |
| 1 | Altitude point per $1 spend on all other purchases (including dining) |
In the case if Altitude Black Members the earn rates will be as follows:
| Total spent on eligible purchases per statement cycle | Points earn rate |
|---|---|
| 3 | Altitude points per $1 on international spend |
| 2 | Altitude points per $1 on everyday spend (Supermarkets, department stores, petrol stations, and utilities) |
| 1 | Altitude point per $1 spend on all other purchases (including dining) |
Redeeming
You will generally need more points when redeeming or transferring points. Westpac has given the following examples:
| Redemption category | Example value | Required Points (before 30 September 2026) | Required Points (from 30 September 2026) |
|---|---|---|---|
| Digital gift cards | $100 eGift Card | ~23,500 points | ~29,412 points |
| Cashback | $100 cashback | ~28,200 points | ~31,250 points |
| Annual fee rebates | $100 rebate | ~20,000 points | ~26,316 points |
| Velocity Frequent Flyer Manual Transfers | N/A | 3 Altitude Points = 1 Velocity Point | 4 Altitude Points = 1 Velocity Point |
| Singapore Airlines KrisFlyer Transfers | N/A | 3 Altitude Points = 1 KrisFlyer Mile | 4 Altitude Points = 1 KrisFlyer Mile |
| Cathay Asia Miles Transfers | N/A | 3 Altitude Points = 1 Asia Mile | 4 Altitude Points = 1 Asia Mile |
| Air New Zealand Koru Transfers | N/A | 180 Altitude Points = 1 Koru Airpoint | 300 Altitude Points = 1 Koru Airpoint |
It is notable that while Nab is choosing to adjust points balances to maintain the value of the already earned points, Westpac does not appear to have made the same decision. As such, the value of your points will see a marked decrease on 30 September.
Westpac Altitude Qantas Program
Fees
The current Altitude Reward fee of $75 per year will be increasing. However, the increase will vary depending on which card you hold
- Altitude Qantas Platinum – will increase to $125 per year
- Altitude Qantas Black – the rewards fee will increase to $155 per year
Earning Points
The Westpac Altitude cards earn points in the Qantas Frequent Flyer program. There are two main changes. Firstly, there is the move of the Dining category the All Other Spend, so you’ll get less while eating out. There is also a minor reduction in the number of points earned at the ‘All other purchases’ rate.
For Qantas Altitude Platinum members, the earn rate will be as follows:
| Points Earning Category | Earn rate per dollar prior to 30 September | Earn rate per dollar from 30 September |
|---|---|---|
| Qantas points per $1 on international spend | 0.75 | 0.75 Qantas Points |
| Qantas points per $1 on everyday spend Includes Supermarkets, department stores, petrol stations, and utilities | 0.5 (includes dining until 30 Sept) | 0.5 Qantas Points |
| Qantas points per $1 spend on all other purchases | 0.35 | 0.33 Qantas Points (Dining included |
| Cap | Once you spend $5,000 in a statement cycle, you will earn 0.20 Points per $1 on further eligible purchases. | |
For Qantas Altitude Black members, the earn rates will change as follows:
| Category | Earn rate per dollar prior to 30 September | Earn rate per dollar from 30 September |
|---|---|---|
| Qantas Points per $1 on international spend | 0.75Qantas Points | 1.5 Qantas Points |
| Qantas Points per $1 on everyday spend Includes Supermarkets, department stores, petrol stations, and utilities | 0.5Qantas Points (includes dining until 30 Sept) | 0.8 Qantas Points |
| Qantas Points per $1 spend on all other purchases | 0.35Qantas Points | 0.4 Qantas Points (Dining included |
| Cap | Once you spend $10,000 in a statement cycle, you will earn 0.25 Points per $1 on further eligible purchases. | |
Westpac Altitude Velocity
The changes to the Westpac Alitude Velocity cards mirror those of the Altitude Qantas cards.
Fees
The current Altitude Reward fee of $75 per year will be increasing. However, the increase will vary depending on which card you hold
- Altitude Velocity Platinum – will increase to $125 per year
- Altitude Velocity Black – the rewards fee will increase to $155 per year
Earning Points
The Westpac Velocity Altitude cards earn points in the Velocity Frequent Flyer program. There are two main changes. Firstly, there is the move of the Dining category the All Other Spend, so you’ll get less while eating out. There is also a minor reduction in the number of points earned at the ‘All other purchases’ rate.
For Velocity Altitude Platinum members, the earn rate will be as follows:
| Points Earning Category | Earn rate per dollar prior to 30 September | Earn rate per dollar from 30 September |
|---|---|---|
| Velocity points per $1 on international spend | 0.75 Velocity Points | 0.75 Velocity Points |
| Velocity points per $1 on everyday spend Includes Supermarkets, department stores, petrol stations, and utilities | 0.5 Velocity Points (includes dining until 30 Sept) | 0.5 Velocity Points |
| Velocity points per $1 spend on all other purchases | 0.35 Velocity Points | 0.33 Velocity Points (Dining included |
| Cap | Once you spend $5,000 in a statement cycle, you will earn 0.20 Points per $1 on further eligible purchases. | |
For Velocity Altitude Black members, the earn rates will change as follows:
| Category | Earn rate per dollar prior to 30 September | Earn rate per dollar from 30 September |
|---|---|---|
| Velocity points per $1 on international spend | 0.75 Velocity Points | 1.5 Velocity Points |
| Velocity points per $1 on everyday spend Includes Supermarkets, department stores, petrol stations, and utilities | 0.5 Velocity Points (includes dining until 30 Sept) | 0.8 Velocity Points |
| Velocity point per $1 spend on all other purchases | 0.35 Velocity Points | 0.4 Qantas Points (Dining included |
| Cap | Once you spend $10,000 in a statement cycle, you will earn 0.25 Points per $1 on further eligible purchases. | |
Final Words
From October 2026, banks will earn substantially less interchange revenue on every consumer credit card transaction. Historically, this revenue has supported:
- Generous points earn rates
- Large sign‑up bonuses
- High‑value redemption options
As I mentioned earlier this year, with that funding reduced, issuers across Australia are reassessing how their rewards programs operate.
Westpac have taken a slightly different approach to NAB. In order to bolster the points earn rate, they are directly charging the customer a Rewards Fee.
That said, Altitude Rewards members look like they’ll be getting a haircut come 30 September. Given the changes in redemption values from that date, it may be worth moving points out before then.
