Impact of RBA interchange fee cuts on Qantas Frequent Flyer points earnings and alternatives

Consensus Summary

The core story revolves around the impact of Australia’s October 2023 ban on debit and credit surcharges, which was driven by a 63% cut to interchange fees for credit cards. This reduction, implemented by the Reserve Bank of Australia, is expected to significantly reduce the revenue credit card providers pay to airlines for rewards points, including Qantas Frequent Flyer. Both sources highlight that the 2017 interchange fee cut led to major point rate reductions and capped bonuses, and warn that frequent flyers may soon struggle to earn bulk points through credit cards alone. As alternatives, the articles emphasize Qantas’ own programs—such as health insurance sign-up bonuses (140,000 points), the Qantas Wellbeing app for activity-based rewards, and partnerships with retailers like Woolworths (2:1 point conversion) and energy providers (20,000+ points annually from electricity bills). The consensus is clear: while credit card rewards are fading, on-the-ground strategies like shopping portals, insurance sign-ups, and utility switching now dominate the landscape for earning Qantas points.