Forget credit cards. Here’s where to earn bulk Qantas points now

April 4, 2026 — 2:01am

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You could almost hear a cheer go up around the country when debit and credit surcharges were banned last week. Kicking in on October 1, it’s the removal of that checkout kick in the teeth, when you have to pay just that little more than you expected.

But what’s been largely missed is – for credit card holders – that tiny bit of payment pain funds a bunch of personal gain. Complimentary travel insurance, airline lounge passes – such offerings could soon be scaled back.

But the mainstay of a smart credit card strategy – big rewards points – is on borrowed time. Let’s look at what’s happening before the new best frequent-flyer practice.

No longer can merchants charge you the explicit fee when you flash the plastic but, to compensate them for this, reduced too is what’s called the interchange fee that terminal-operating banks can charge payment-providing banks to facilitate the transaction.

For credit cards, it’s being slashed 63 per cent from 0.8 per cent to 0.3 per cent. That’s a huge revenue cull, revenue that card providers currently pay airlines for points.

When the Reserve Bank did this last time, in 2017, the impact on points was dramatic: reduced points earn rates, some by up to a half and some capped, and slashed sign-up bonuses.........

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