Impact of RBA surcharge ban on Qantas points earnings and alternatives

Consensus Summary

The core story revolves around the Reserve Bank of Australia’s October 2023 ban on debit and credit surcharges, which indirectly impacts Qantas Frequent Flyer points earnings. The 63% reduction in interchange fees (from 0.8% to 0.3%) cuts revenue that credit card issuers pay airlines for rewards, mirroring a 2017 crackdown that slashed points earn rates and capped bonuses. While credit cards once allowed users to accumulate 200,000 points for holidays, the latest changes threaten this strategy. The articles highlight alternative ways to earn points, such as Qantas Health Insurance (140,000 points for new sign-ups), the Qantas Wellbeing app (1,000 points for daily activity), and everyday spending through portals like Everyday Rewards (2:1 conversion) or utility providers like Red Energy and Origin Energy (20,000+ points annually from electricity). Grocery stores, fuel stations, and Qantas’ own shopping/hotel platforms also offer boosted rewards. Experts warn that credit card perks like travel insurance and lounge passes may shrink, but non-card strategies remain viable for frequent flyers.