Changes to your American Express card
There have been some changes to the way bank issued American Express companion cards are being processed.
To help you understand the changes, we have compiled answers to some common questions on the topic.
Frequently Asked Questions
- Following the Reserve Bank of Australia’s decision in July 2017 to restrict credit card interchange fees, bank issued American Express companion cards became subject to the same regulation as Visa and Mastercard schemes.
- With these changes, some banks felt they could no longer offer the high points earn rates that usually come with American Express cards.
- Many of the major banks have stopped issuing and processing AMEX companion cards (effective varying dates depending on your bank)
- For more information on effective dates, check your bank website:
- ANZ: http://c.ecomm.anz.com/credit-cards/faqs/frequentflyer
- Commbank: https://www.commbank.com.au/latest/amexclosure.html
- NAB: https://www.nab.com.au/personal/banking/credit-cards/manage-your-credit-card/changes-to-our-credit-cards
- Update automatic debits set up through these credit cards to another card.
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