Effective on and from 1 November 2026 we are making changes to Bank Australia's credit cards.
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The changes that apply to your credit card are summarised below. Please review the information relevant to your card and read the detailed information further down on this page to understand how these changes may affect you.
Current | From 1 November 2026 | |
|---|---|---|
Interest rate on purchases | 12.99% p.a. | 12.34% p.a. |
Interest rate on cash advances | 12.99% p.a. | 12.34% p.a. |
Current | From 1 November 2026 | |
|---|---|---|
Interest rate on purchases | 20.24% p.a. | 20.99% p.a. |
Interest rate on cash advances | 20.24% p.a. | 20.99% p.a. |
From 1 November 2026:
If you carry a balance on your credit card, this change may increase the amount of interest you are charged. The new rates will apply from 1 November 2026.
From 1 November 2026, if your credit card balance exceeds your credit limit, the amount over your credit limit will be added to your minimum monthly payment. This means that your minimum monthly payment shown on your monthly statement may be higher than it would be under the current calculation if your account balance exceeds your credit limit. This change applies to Bank Australia’s Low Rate Visa Credit card, Visa Credit card and Platinum Rewards Visa Credit card.
The changes below also apply to Bank Australia Platinum Rewards Visa Credit card holders.
From 1 November 2026, we are changing how Qantas Points are earned on eligible transactions made using your Bank Australia Platinum Rewards Visa Credit card.
You will continue to earn Qantas Points on eligible transactions, however the earn rate will reduce for higher levels of monthly spending and a new monthly points cap will apply.
From 1 November 2026:
Bonus Qantas Points awarded under special promotions are unaffected and do not count towards the monthly points cap.
From 1 November 2026, you will not earn Qantas Points on eligible transactions if your credit card account is in arrears for more than 30 days.
From 1 November 2026, when you obtain a refund or reimbursement for an eligible transaction for which you earned Qantas Points, the amount of the refund or reimbursement will be deducted from the eligible transactions for the calendar month in which the refund or reimbursement is processed when calculating the Qantas Points earned for that month. Any negative balance in your rewards account will be carried over to the next month.
A refund or reimbursement processed on or after 1 November 2026 will be treated in accordance with these Terms and Conditions as in effect on the date the refund or reimbursement is processed, regardless of when the original eligible transaction occurred.
The changes described above will be reflected in updates to the Bank Australia Platinum Rewards Program Terms and Conditions from 1 November 2026. A summary of the key changes is set out below.
New definition of Monthly Rewards Balance: means the total number of Qantas Points earned during a Calendar Month, as adjusted to reflect any refunds, reimbursements or other adjustments processed during that Calendar Month.
Updated Clause 4.2: Bank Australia will allocate Qantas Points to your Rewards Account for every whole Australian dollar of the total value of all Eligible Transactions (the total value is rounded down to the whole Australian dollar value, ignoring cents) that is charged to your Credit Card in accordance with the table below:
Total Eligible Transactions per Calendar Month | Qantas Points earned for every whole Australian dollar |
|---|---|
Up to and including $3,000 | 0.75 points |
Over $3,000 | 0.35 points |
Bonus Qantas Points may also be allocated on an Eligible Transaction at Bank Australia’s absolute discretion. Bank Australia will make Bonus Qantas Points available on such terms and conditions as Bank Australia determines, including the period of time the relevant Bonus Qantas Points are available.
A Qantas Points cap of 5,000 Qantas Points applies per Calendar Month. Bonus Qantas points do not count towards the points cap. No further Qantas Points will be earned on eligible transactions that exceed this points cap in the month.
Updated clause 6.5:
When you obtain a refund or reimbursement for an Eligible Transaction for which you earned Qantas Points, the amount of the refund or reimbursement will be deducted from the Eligible Transactions for the Calendar Month in which the refund or reimbursement is processed when calculating the Qantas Points earned for that month. Any negative balance in your rewards account will be carried over to the next month.
A refund or reimbursement processed on or after 1 November 2026 will be treated in accordance with these Terms and Conditions as in effect on the date the refund or reimbursement is processed, regardless of when the original Eligible Transaction occurred.
Updated clause 7.1:
You will not earn Qantas Points:
The Reserve Bank of Australia is changing the rules for card payments in Australia, and these changes affect how card issuers pay for some card benefits and rewards programs. As part of these changes, and following a review of our credit card products, we're making changes from 1 November 2026. Full details of the changes that apply to your card are set out on this page.
The changes to how you earn Qantas Points will not affect your existing Qantas Points balance. Any Qantas Points that you have already earned will remain in your account and can continue to be used in line with the terms and conditions.
Bank Australia provides a range of credit cards that suit a range of needs. Learn more.
Yes, you can switch from one Bank Australia credit card to another without reapplying if your credit limit remains the same. Please see Switching credit cards terms and conditions for more information.
If you think you may have difficulty making your repayments in the future, contact our Customer Support team to discuss a tailored arrangement by calling 132 888 or emailing CustomerSupport@bankaust.com.au.
If you have questions about these changes, would like to discuss alternative credit card options, or are experiencing financial difficulty, we're here to help. Please contact us on 132 888 to discuss your circumstances and the support options available.
Information provided is of a general nature only. In providing you with this information you should consider the appropriateness of this advice with regards to your particular financial situation and needs. You should consult the Product Disclosure Documents below and Target Market Determination before making a decision to apply for products with Bank Australia.
Terms, conditions, and all fees and charges across our products are outlined below. We will update documents on 1 November 2026 where relevant.
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