RBA Payment Rule Changes Slap Credit Card Rewards

The Reserve Bank of Australia's (RBA) new payment rule changes are expected to reshape the country's credit card rewards landscape. The reforms, which were implemented on August 3, 2026, will reduce the value of credit card rewards programs as banks respond to lower interchange fees by cutting sign-up bonuses and reducing points earn rates.

According to Tom Goward, Editor-in-Chief at Flight Hacks, 'The RBA has thrown consumers under the bus' with these new rules. He argues that the changes will make it harder for Australians to maximise the value of their spending through frequent flyer and rewards programs.

Beyond reduced rewards, consumers could also face higher costs if businesses choose to pass on more payment acceptance fees at the checkout. The long-term impact on existing cardholders and future rewards programs remains unclear, but the changes are expected to have significant implications for millions of Australians who rely on credit card perks.