From 21 October 2024, you’ll no longer earn Qantas Points on your home loan. As part of this change, we’ll also reduce your home loan interest rate by 0.05% p.a. for both fixed and variable rate loan accounts.
Generally, you’ll receive a variation confirmation, which will show the interest rate applicable to your home loan, once the changes have been applied to your account.
From 21 October 2024, you’ll stop earning Qantas Points on your home loan.
You’ll continue to earn monthly Qantas Points as usual, subject to eligibility criteria, until 21 October 2024. The Qantas Points you’ve earned, rounded up to the nearest month, will be credited to your nominated Qantas Frequent Flyer account as usual.
If you haven’t reached the three or five-year anniversary of the Qantas Flyer feature being applied to your account, you may be eligible for a pro-rated portion of your next anniversary points bonus.
Any pro-rated portion of your anniversary points bonus will be calculated based on the time between the Qantas Flyer feature being applied to your loan and the removal date of the Qantas Flyer feature.
For example, if you added the Qantas Flyer feature to your home loan two years before 21 October 2024, you could be eligible for approximately 66.6% (2/3rds) of your three-year anniversary points bonus, or 16,667 Qantas Points.
The bonus points will generally be credited to your nominated Qantas Frequent Flyer account within 30 days of this change.
If all or part of your Macquarie Qantas Flyer home loan is fixed, your fixed rate term will not change when you stop earning Qantas Points on your home loan.
The fixed rate term noted in the ‘Reference rate details’ section of your variation confirmation summary has been rounded down to the nearest year. For example, if you have eight months remaining of your fixed rate term, your remaining fixed rate term will show as 0 years.
For more information on earning Qantas Points on your home loan, please visit our Help Centre.
Generally, you’ll receive a variation confirmation summary once the changes have been applied to your accounts.
From 21 October 2024, your Qantas Points rewards program will end and be replaced with the Macquarie Rewards program, which is subject to the Macquarie Rewards Terms and Conditions.
This means, from this date, you’ll stop earning Qantas Points on eligible purchases and begin earning Macquarie Reward points.
From 21 October 2024, you’ll know your account has moved to Macquarie Rewards by checking:
From 21 October 2024, any remaining Qantas Points on your Macquarie credit card account will be automatically redeemed and transferred to your Qantas Frequent Flyer account. You should expect to see these points credited into your Qantas Frequent Flyer account approximately 30 days after 21 October 2024.
Your remaining Qantas Points won’t be transferred to your Qantas Frequent Flyer account if you never:
Per clause 2.3 of the Macquarie Qantas Rewards Program Terms and Conditions, it is the Macquarie credit cardholder’s obligation to ensure that Macquarie have the correct Qantas Frequent Flyer Membership Number on file for you and that the name on your Qantas Frequent Flyer Account matches the name on your account. It is also the obligation of the Macquarie credit cardholder to contact Macquarie if their personal information changes, if we do not have their correct Qantas Frequent Flyer Membership Number or if your Qantas Points are not being credited to your Qantas Frequent Flyer account.
For more information on the Macquarie Rewards program, please visit our Help Centre.
Macquarie only offers Macquarie Rewards on credit card products.
If you decide the Macquarie credit card is no longer right for you, please visit our Help Centre and follow the steps to close your account.
Please note, the following conditions apply:
If you’re unable to close your account via Macquarie Online Banking or the Macquarie Mobile Banking app, you can get in touch with us via live chat through online or mobile banking.
If your credit card account is currently blocked, it will remain blocked once your account moves to the Macquarie Rewards program, and therefore you won’t be able to earn Macquarie Reward points.
