ANZ reduces Qantas credit‑card sign‑up points and raises spend thresholds in Australia

Australian banks are scaling back credit‑card reward perks ahead of the October 1 surcharge ban. ANZ has cut the upfront Qantas Frequent Flyer points on its Black Card from 130,000 to 80,000 and raised the minimum spend in the first three months from AU$5,000 to AU$6,000, while removing the AU$200 cashback offer. The same day the bank reduced the Platinum Card sign‑up bonus from 75,000 to 40,000 points, increased the required spend from AU$2,500 to AU$3,500, and eliminated the AU$100 credit.

These changes signal a broader industry shift toward higher spend requirements and delayed bonus payouts, with many new cards now delivering points in multiple tranches over 12‑18 months. Existing cardholders may also see adjustments to their rewards structures after October 1.