Explore the latest developments concerning CBA punishes Qantas.
CBA punishes Qantas customers in reward points overhaul
Commonwealth Bank is pushing customers to spend their credit card rewards with Virgin’s Velocity scheme instead of Qantas Frequent Flyer points, as part of a dramatic overhaul of its loyalty program.
On Tuesday, the bank announced the changes to its reward points program, which will also include the launch of a new inhouse “Yello” points currency, ahead of an October ban imposed by the Reserve Bank on the credit card surcharges that have funded generous perks to date.
Under the new scheme, customers wanting to convert Yello points to airline points will get more generous rates when exchanging them for Virgin Velocity points than Qantas Frequent Flyer points.
CBA punishes Qantas customers in reward points overhaul
Commonwealth Bank is pushing customers to spend their credit card rewards with Virgin’s Velocity scheme instead of Qantas Frequent Flyer points, as part of a dramatic overhaul of its loyalty program.
On Tuesday, the bank announced the changes to its reward points program, which will also include the launch of a new inhouse “Yello” points currency, ahead of an October ban imposed by the Reserve Bank on the credit card surcharges that have funded generous perks to date.
Under the new scheme, customers wanting to convert Yello points to airline points will get more generous rates when exchanging them for Virgin Velocity points than Qantas Frequent Flyer points.
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