House byline
Credit Cards correspondent
Nathan Price is a house byline for InfoHandle’s Credit Cards desk.
Westpac lifted variable home-loan reference rates by 25 basis points from 9 October, leaving its lowest advertised owner-occupier rate at 6.24 percent as all four majors ended sub-6 percent headline pricing after the RBA move to 4.60 percent.
From 1 October, lower card interchange caps forced NAB and its peers to recut Qantas Points earn rates, annual fees and insurance bundles that were funded by swipe-fee revenue.
St.George Amplify Rewards cardholders will earn fewer partner points on supermarket and fuel spend from November as Westpac rebalances transfer economics.
St.George has halved the Velocity and KrisFlyer value of everyday Amplify points from 30 September, leaving Woolworths transfers untouched and angering points maximisers.
NAB and Westpac updated cash-advance pricing on several revolving cards within days of the Reserve Bank lifting the cash rate to 4.60 per cent, widening the spread shoppers pay at ATMs versus standard purchases.
ANZ told Velocity Platinum cardholders their ongoing purchase rate will rise half a percentage point while a 12-month balance-transfer offer stays on the table.
Westpac and National Australia Bank updated October rewards earn tables on premium cards just days after Canberra’s checkout surcharge ban shifted merchant economics.
Businesses can no longer add card payment surcharges at checkout from 1 October, as Treasury rules and ACCC guidance take effect for most in-person and online purchases.
Commonwealth Bank will lift the minimum purchase threshold for four-instalment StepPay plans and shorten the grace window on sub-$100 charges after the RBA move to 4.60 per cent.
Australia's fifth-largest lender said variable home loan reference rates will rise by the full quarter-point after the Reserve Bank lifted the cash rate target to 4.60 percent, adding roughly ninety dollars a month on a typical six-hundred-thousand-dollar loan.
Bank of Queensland removed the annual fee on its Metro Visa for applications lodged this month, pitching everyday spend perks as major banks reprice variable mortgages.
Major banks saw August surges in mortgage offset and redraw balances as households stockpiled cash before an expected Tuesday cash-rate increase to 4.60 per cent.
Finder's September panel has 37 of 41 respondents tipping a hike on Tuesday, and 48% expecting another before 2027. Two moves would add about $540 a month to a typical variable mortgage — and the household bill absorbs it either way.
Four of the majors now expect the RBA board to lift the cash rate 25 basis points to 4.60 per cent on Monday, and markets have about a 90 per cent chance of it priced in. On a $600,000 variable loan that is roughly $125 a month — and pass-through usually lands within a fortnight.
Commonwealth Bank lifted its two-year fixed owner-occupier rate to 6.82 per cent ahead of the 28–29 September RBA meeting, as the major banks price in a cash rate move to 4.6 per cent.
Westpac Banking Corp.’s updated Compare tool highlights households carrying roughly 18 months of credit-card debt while fixed-rate home loans written at pandemic-era lows roll onto higher revert rates, nudging borrowers toward consolidation and hardship pathways before Christmas spending.
Commonwealth Bank cut effective Flybuys-linked earn on several no-annual-fee card paths as CommBank Yello replaces Awards, pushing supermarket loyalists to recalculate whether Low Fee and conditional Smart products still stack with Coles Flybuys membership.
Borrowers rolling off pandemic-era fixed mortgages face revert rates near seven percent while comparison sites highlight variable home loans near six percent and no-annual-fee credit cards for everyday spend ahead of the ABS monthly inflation print.
Westpac is tightening PartPay pay-in-four rules so split purchases stay within credit limits and merchant categories ASIC expects under licensed BNPL rules, ahead of broader responsible-lending exams.
Commonwealth Bank has refreshed introductory cashback and personalised rate benchmarks on its Low Rate card as economists price a 4.6 percent cash rate, widening the gap between mortgage and purchase APRs.
Bankwest will retire Halo ring debit perks and spare-change roundup on Easy Transaction accounts as Commonwealth Bank finishes integrating ledgers, pushing customers toward the national app for everyday spending.
Translink reshaped go card top-up rebate rules ahead of wider Brisbane fare harmonisation, tightening when unused online loads reverse while keeping the 50-cent flat fare and smart-ticketing migration on track.
ING Australia left foreign-exchange revert rates on its Orange Everyday card unchanged while lifting monthly deposit caps that gate Bonus Saver headline interest, a split that rewards savers who hit transfer thresholds but offers little new for card travellers.
Latitude Financial trimmed Flybuys earn rates on several store-card products as Coles resets loyalty mechanics, nudging households to recalculate whether supermarket-linked credit still beats straight Flybuys membership on everyday spend.
CommBank is winding back overseas ATM fee waivers on Smart Awards and related reward cards before Bali's peak holiday season, leaving cash-hungry travellers to pay advance fees even when international purchase surcharges stay at zero.
ANZ is shortening promotional balance-transfer windows on several cards while the Reserve Bank holds the cash rate at 4.35 per cent, squeezing households trying to refinance credit-card debt without paying revert rates near 23 per cent.