No more Air NZ points for BNZ credit cards as Westpac steps in; cash replacement mooted
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Bank of New Zealand customers will miss out on earning Air New Zealand [NZX: AIR] Airpoints through spending on their credit cards when a deal between Air New Zealand and the lender expires next month.
Air New Zealand and BNZ have decided not to renew the agreement between them that provided Airpoints dollars and status points on BNZ GlobalPlus products, Air New Zealand said. When it expires at midnight on April 30, BNZ's GlobalPlus customers will no longer earn points.
As many as 100,000 BNZ customers are affected and some may elect to change credit card providers to continue to have access to Air New Zealand Airpoints, according to media reports. BNZ says it will offer a cash-back deal equal to the value of Airpoints dollars from May 1 and plans to announce "a comprehensive package" of alternative rewards to its card holders. A BNZ spokesman said Airpoints "were not what our customers wanted any more."
Westpac Banking Corp is stepping into the space occupied by BNZ, striking a new Airpoints deal that begins on May 1.
Westpac joins Kiwibank, ANZ and American Express who already have Airpoints earning cards available, Air New Zealand says.
Air New Zealand General Manager Customer Value Hamish Rumbold and BNZ Director Retail Banking & Marketing Craig Herbison say both organisations are developing alternatives for their customers.
Both BNZ and Air New Zealand will be notifying their respective customers to inform them of the change and advise them of their options.
Westpac's new products include WestpacAirpoints MasterCard, Westpac Airpoints Platinum MasterCard and Westpac Airpoints World MasterCard and Westpac Airpoints Business MasterCard.