- Credit Cards & Bank Points
17 Oct 2026 · 1 min read
ANZ Rewards: how to get started
ANZ kept its transfer rates through the 2026 card reforms. Here's how ANZ Rewards works, where the points can go and what changed instead.
- Credit Cards & Bank Points
MyCard Rewards (formerly Citi): how to get started
Former Citi cardholders now earn MyCard Rewards. Here's how the program works after October 2026 and what changed for Velocity and Qantas collectors.
14 October 20262 min read
MyCard is what Citi's Australian credit cards became after NAB bought them. If you had a Citi Rewards or Citi Premier card, you now have a MyCard. In October 2026, the earn rates went up but transfers to Velocity got more expensive.
Here's how MyCard Rewards works now.
What is MyCard Rewards?
MyCard Rewards is the points program on the former Citi cards, now run by NAB. You earn MyCard Rewards points and can transfer them to airline partners such as Velocity, or use them for gift cards and travel. The Premier Qantas card is different: it earns Qantas Points directly.
What changed on 1 October
| Card | Earn rate now | Other changes |
|---|---|---|
| MyCard Rewards | 2 points per $1 overseas and on domestic travel, 1.5 elsewhere | Annual fee up from $199 to $249; spend cap removed; Velocity from 2.5:1 to 3:1 |
| MyCard Premier | 2 points per $1 overseas and on domestic travel, 1.5 elsewhere | 200,000-point yearly cap removed; Velocity from 2:1 to 3:1 |
| MyCard Premier Qantas | 0.5 Qantas Points per $1 | Earning capped at $7,000 spend a statement |
Correct as of October 2026.
What it means for Velocity collectors
Higher earn rates offset part of the worse transfer rate. On the Premier card, everyday spend used to earn 1 point per dollar at 2:1, or half a Velocity Point. It now earns 1.5 points at 3:1, which is still half a Velocity Point. Online spending, which used to earn 2 points, is worse off.
What it means for Qantas collectors
The Premier Qantas card now earns a flat 0.5 Qantas Points per dollar, capped by spend each statement. That's low for a premium card. Frequent flyer cards vs bank rewards points compares the alternatives.
Why earn rates went up while ratios got worse
A higher earn rate looks better on a product page. A worse transfer ratio is easy to miss. Together they can leave the real return close to unchanged, or lower, while the headline improves. That's why the only number worth comparing is airline points per dollar spent.
What I'd do now
- Work out your airline points per dollar at the new rates.
- Count the new annual fee.
- Compare with other cards before the fee falls due.
- Pay the card in full each month.
This guide is general information only and isn’t financial advice. It doesn’t consider your personal circumstances. Check product terms and fees before applying for any credit card. The views here are ours.
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