# Why credit card rewards schemes are being slashed

An episode of [ABC News Top Stories](https://invisiblenetwork.ai/podcast/1668721389), 28 Sep 2026, 3:06.

Audio: https://mediacore-live-production.akamaized.net/audio/02/ou/Z/3l.mp3

Banks are cutting credit card rewards points, increasing fees and trimming travel insurance perks ahead of a ban on card surcharges. The Commonwealth Bank has wound up its Qantas Frequent Flyer partnership in favour of a new in-house program called Yello. So will Australians put up with smaller rewards, or start shopping around?

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