Explore the latest developments concerning RBA surcharge cuts.
Qantas and Virgin frequent flyers face points pain as RBA cuts credit card surcharge
Frequent flyers will see fewer bonus offers and earn points more slowly after the Reserve Bank of Australia said it would restrict the fees banks could charge for credit card use, crimping their ability to pay airlines.
Qantas Frequent Flyer and Virgin Australia’s Velocity programs have become intertwined over the past decade, with banks buying up points to pass on as they tried to entice customers to their own products.
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Banning card surcharges will make paying simpler – but not necessarily cheaper
The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.
University of Technology Sydney provides funding as a founding partner of The Conversation AU.
From October 1, 2026, Australians will no longer pay a fee for debit, prepaid and credit payments using eftpos, Mastercard and Visa cards. The Reserve Bank of Australia estimates the change could save consumers around A$1.6 billion a year.
The case for change sounds simple enough: one price, no add-ons, no surprises at the end of a transaction.
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