Amex changed its Qantas offers, HSBC announced its Australian retail exit, and Velocity opened a transfer bonus. Here is the rewards news from 27 July to 2 August 2026.
Amex changed the Qantas Ultimate welcome offer
A 29 July OzBargain post recorded a new offer for The Qantas American Express Ultimate Card. American Express's offer terms state up to 120,000 bonus Qantas Points, in two parts: 70,000 after $5,000 of eligible spend in the first three months, then 50,000 after a further $5,000 in the first three months of the second card membership year. The offer is for new Amex card members; anyone who held an Amex Australia card in the past 18 months is excluded. Applications close 17 November 2026. The annual fee is $450.
The full 120,000 points require the second year's spend and fee. I would compare the first-year 70,000 points with the card's cost before treating the full headline as a first-year bonus.
Amex offered points for business employee cards
Another 29 July OzBargain post flagged an American Express offer for Qantas Business Rewards Employee Cards. Eligible existing business card members can receive 40,000 bonus Qantas Points per approved employee card, for up to three cards. That is a maximum of 120,000 bonus points for three approved cards, subject to Amex's terms. Applications must be submitted by 22 October 2026. Amex says it can revoke the bonus if an employee card is cancelled within three months of approval.
This is an employee-card offer for businesses that already hold the relevant card. It is separate from a welcome offer for a new primary card.
HSBC announced its Australian retail exit
On 31 July, HSBC announced that it would close its Australian retail banking business in phases over 18 months. Its retail product applications stopped that day, including applications for the HSBC Star Alliance Credit Card. Point Hacks reported the card impact on 31 July. HSBC said existing customers did not need to act immediately and would receive product-specific information later.
The card gave eligible holders a route to Star Alliance Points and status, so its withdrawal matters to points collectors. HSBC had not stated a final card closure date in that week's announcement. Existing holders should use HSBC's direct communications for their own account timetable.
Velocity started an August–September transfer bonus
Velocity's dated campaign terms set a promotion from 1 August to 30 September 2026. The manual-transfer path offered 15% bonus Velocity Points on eligible bank-point transfers, but required at least one transfer in both August and September. The auto-transfer path offered 20% bonus Velocity Points for eligible members who opted in during the period and stayed opted in until its end. Members already set to auto-transfer with the named partners by 11:59 pm AEST on 31 July were excluded from the auto bonus. Partner rules, minimum transfers and other exclusions applied.
The promotion ends on 30 September 2026. Check your partner program and the campaign conditions before transferring.
Qantas swapped its Canberra lounge spaces
On 2 August, Australian Frequent Flyer reported that Qantas had moved its Canberra Domestic Business Lounge into the larger former Qantas Club space. The Qantas Club moved into the former Business Lounge space. That changes the space and view a visitor gets, even though the lounges still serve different access groups. Qantas's lounge access rules distinguish Business Lounge access from Qantas Club access, so check access for your flight and membership before travelling.