Westpac Altitude Rewards: how to get started

If you hold a Westpac Altitude Rewards card, two things changed on 30 September 2026. You now pay a $75 yearly program fee, and your points buy fewer Velocity Points than before.

Here's how Altitude Rewards works now, and how to tell if it's still worth keeping.

What is Altitude Rewards?

Altitude Rewards is the points program on Westpac's Altitude Platinum and Black cards. You earn Altitude points on spending and can transfer them to airline programs or use them for gift cards and merchandise. Westpac's Altitude Qantas cards are separate and earn Qantas Points directly.

How you earn

Correct as of October 2026.

Where your points can go

On Altitude Platinum, transfers to Velocity, KrisFlyer and Cathay Asia Miles moved from 3:1 to 4:1. That means every 4 Altitude points now gives 1 airline point. Westpac Group cards can also transfer to Everyday Rewards.

Points transfer partners shows how that compares with other banks.

Is it still worth it?

Run the numbers on your own spending:

1. Work out your yearly spend on the card.
2. Multiply by your earn rate, then divide by 4 to get airline points.
3. Value those points at what you'd realistically get, say 1 to 2 cents each.
4. Subtract the card fee and the $75 program fee.

If the result is small or negative, a card that earns airline points directly, or a bank with better ratios, may suit you more. Frequent flyer cards vs bank rewards points walks through the choice.

Why banks add program fees

When interchange was capped at 0.3% on 1 October, banks lost much of the income that paid for points. A program fee shifts some of that cost onto the members who use points most, rather than every cardholder. It's less visible than cutting the earn rate, which is why it's a common lever.

What I'd do now

1. Check your statement for the new fee.
2. Recalculate your real earn rate at 4:1.
3. Use or transfer points you're holding for a planned trip.
4. Compare alternatives before your next annual fee falls due.