Understand what’s changing and what to expect next.
Upcoming changes to your Rewards Program
From 1 October 2026, we’re making changes to the number of points you will need to redeem rewards. We’ll also be applying a one-off points increase to your points balance, so that your existing points hold a similar value once the changes take effect.
To help you understand what’s changing and what to expect, we’ve provided further information below including answers to common questions.
What are the changes
The number of points you need to redeem rewards will change. You’ll be able to see the new points needed for each reward when you log in to the MyCard App or MyCard Online and visit the MyCard Rewards Portal.
We’ve provided a few examples below to illustrate what the changes look like.
| Reward* | Today | From 1 October 2026 |
|---|---|---|
Reward* $100 Giftcard | Today 20,900 points | From 1 October 2026 33,770 points |
Reward* $25 Cashback | Today 10,000 points | From 1 October 2026 15,625 points |
Reward* 1,500 Velocity Points | Today 3,750 points | From 1 October 2026 4,500 points |
*Examples are a guide only, and the number of points you need for different redemptions today vary slightly depending on your product. To view your available rewards and points required for redemption, you will need to log in to the MyCard App or MyCard Online and select "Redeem MyCard Reward Points" to access the MyCard Rewards Portal.
How the one-off points increase will work
We want to make sure the points you’ve earned hold a similar value after this change, so we’ll apply a one-off points increase to your points balance. The number of points included in your one-off points increase will depend on the MyCard credit card you hold.
It will be based on your points balance as at 1 October 2026
We will automatically add them, so you don’t need to do anything
It ensures your existing points deliver a similar value
To help show you how the increase will be applied we’ve included an example below:
- Amy has a MyCard Rewards Card with 20,000 points on 1 October 2026
- She will receive a one-off points increase of +8,000 points
- Her new points balance will be 28,000 points so that her points hold a similar value after the change. ^
^ Please note the one-off points increase example listed above is for illustrative purposes and will differ based on the card you have.
When you will receive your additional points
We will process your one-off points increase as soon as we can, and no later than 30 November 2026.
FAQs
No, the changes to your redemption rates will apply automatically from 1 October 2026.
We will ensure bonus points offered before 1 October 2026 continue to provide a similar value to you:
- Bonus points received before 1 October 2026 will be included as part of your one-off points increase.
- Bonus points received on or after 1 October 2026 will be increased to ensure you receive a similar value.
There are many ways to redeem your points, and number of points varies depending on the reward you choose. For example, a $50 Giftcard uses 10,450 points, while $50 using Pay with Points uses 12,500 points. We’ll adjust your points based on the average change across redemption options, which also considers which options are the most popular.
If you applied for your MyCard through an offer that included a specific number of Velocity Points when you set up autoredemption, the points will be adjusted to ensure you still receive the same number of Velocity Points originally offered.
If you have zero or a negative points balance, there will be no changes to your balance. You must have a positive points balance on 1 October 2026 for us to apply the one-off points increase.
Your one-off points increase will be applied to your points balance by 30 November 2026. If you haven’t received it by then, please get in touch with us so we can look into it for you.
From 1 October 2026, you can view the new number of points needed for a redemption by logging into the MyCard App or MyCard Online and selecting "Redeem MyCard Reward Points". This will open the MyCard Rewards Portal where you can select your preferred redemption option. Until this date there will be no changes to your current redemption rates.
No, you can continue to redeem your points for the same rewards however the number of points you need to redeem will change.
To view your redemption options you will need to log in to the MyCard App or MyCard Online and select "Redeem MyCard Reward Points" to access the MyCard Rewards Portal.
However, if you currently have a MyCard Classic Plus card, you will also be able to redeem Giftcards from 1 October 2026.
Contact us
If you have any further questions, please contact us below:
Call us: 13 24 84 or +61 2 8225 0615 if overseas
Chat via MyCard Online