Weekly News Roundup: Apr 6 - Apr 12, 2026
Published on 4/13/2026
Quieter week after the RBA earthquake, but the fallout is already showing up. NAB hiked card fees, the churning community is soul-searching, and the biggest Amex Platinum offer in recent memory expires tomorrow. Here's what happened.
NAB Hikes Annual Fees on Low Rate and Low Fee Cards
NAB became the first big four bank to raise credit card fees in the wake of the RBA interchange reform. Two changes take effect April 27, 2026:
- NAB Low Rate Card: Annual fee rises from $59 to $99
- NAB Low Fee Card: Annual fee rises from $30 to $49
If your fee is waived under a NAB package, it stays waived — but if you ever drop the package, you'll cop the new rate.
This is exactly what I flagged last week. The RBA's interchange cut from 0.8% to 0.3% strips roughly $910 million a year from bank revenue. That money has to come from somewhere, and annual fees are the easiest lever. Expect other banks to follow.
Source: NAB credit card fees and charges
Is Credit Card Churning Dead in Australia?
Australian Frequent Flyer published a deep-dive this week asking the question every points enthusiast is thinking: is the churning game over?
The short answer is "not yet, but it's getting harder." Banks have been extending eligibility exclusion periods — most now require you to have not held any card from the same issuer for at least 18-24 months. The upcoming interchange cuts will likely shrink sign-up bonuses further, since banks will have less revenue to fund them.
For context, in the UK and Europe — where interchange caps have been in place for years — sign-up bonuses are dramatically worse than what we still get in Australia. That's probably where we're headed.
My take: if you've been meaning to apply for a big sign-up bonus, the next six months are your window. Once the October 1 changes bite, the offers we're used to seeing may not come back.
Source: Is Credit Card Churning Dead in Australia? — Australian Frequent Flyer
Last Call: Amex Platinum 220,000 MR Points (Expires April 14)
If you've been eyeing the American Express Platinum Card, this is it. The bespoke offer of 220,000 bonus Membership Rewards Points for new card members expires April 14, 2026 — that's tomorrow.
The requirements: spend $5,000 on eligible purchases in the first 3 months. You also get up to $400 in Global Dining Credit per year and a $450 annual Travel Credit.
This is the highest Amex Platinum sign-up bonus I've tracked in Australia. Given the interchange reform and Amex's recent benefit cuts (lounge access, FX fees), I wouldn't count on seeing an offer this generous again anytime soon.
Source: American Express Platinum Card — Australian Frequent Flyer
Notable Offers Still Running
A few cards worth watching this month:
- Bankwest More World Mastercard: Up to 180,000 bonus points when you spend $10,000 in 90 days and keep the card open for 15 months. $270 annual fee. No FX fees, 10 airport lounge passes per year. Highly commended at the 2026 Finder Awards for Best Travel Card.
- Qantas Money Titanium: 150,000 bonus Qantas Points (spend $5,000 in 90 days). $1,200 annual fee. Two Qantas First Lounge invitations per year. Must not have held a Qantas credit card in the past 24 months.
- Amex Velocity Platinum: 70,000 bonus Velocity Points (spend $5,000 in 3 months), plus 30,000 in Year 2. Offer ends April 30.
- Latitude Rewards: $260 bonus Latitude Rewards when you spend $2,000/month for your first 3 months. Offer ends April 30.
- Coles Rewards Mastercard: $250 Coles Gift Card (spend $3,000 in 90 days). Offer ends June 30.
What I'm Watching
The NAB fee hikes are the canary in the coal mine. Every bank is running the same spreadsheet right now — interchange revenue dropping by more than half means something has to give. Annual fees, earn rates, sign-up bonuses, and premium perks are all on the table.
I expect we'll see more fee increases and benefit reductions announced over the next few months as banks prepare for the October 1 deadline. If you're a rewards maximiser, this is the time to lock in offers while they're still around.
Next week I'll be watching for CBA and Westpac's responses to the interchange changes — and whether any of the remaining big offers get quietly pulled early.
