St. George, Bank of Melbourne and Bank SA are the next three credit card issuers to cut the number of frequent flyer points that customers can earn as the Westpac-backed trio updates its frequent flyer plastic ahead the RBA’s upcoming cuts to credit card ‘interchange fees’.

These changes take effect from July 1 2017 – the same date as the new RBA regulations – across the banks’ Amplify Signature, Amplify Platinum and Amplify credit cards, but interestingly, only reduce points earned on international transactions: on which no cuts to interchange fees are being made.

In explaining the move to its customers, all three banks affirm that “the Reserve Bank of Australia has announced new regulations that impact Australian bank issued credit cards. In response, (the bank) is reviewing its rewards programs, and from 1 July 2017 there will be changes to how you earn … points.”

Whether your Amplify card is issued by St. George, Bank of Melbourne or Bank SA, here’s how the shake-up affects you.

New St. George, Bank of Melbourne, Bank SA Amplify frequent flyer credit card earning rates

Amplify Signature (with Amplify Rewards): Using your card overseas will earn half as many points per dollar spent as available today, lowering from 3 to 1.5 Amplify points.

That’s equal to 0.75 Virgin Australia Velocity points, 0.75 Singapore Airlines KrisFlyer miles or 0.75 Malaysia Airlines Enrich Miles per dollar spent: the same rate as continues to apply to transactions within Australia.

Amplify Signature (with Qantas Points): Spenders collecting Qantas Points can earn 0.75 points per dollar spent overseas from July, being a 50% cut to the current earning rate of 1.5 Qantas Points per dollar spent.

Amplify Platinum (with Amplify Rewards): Double points on international spend will also be axed for Platinum cardholders, descending from two to one Amplify point per dollar spent, worth 0.5 Velocity points, 0.5 KrisFlyer miles or 0.5 Enrich miles.

Amplify Platinum (with Qantas Points): You guessed it – the number of points awarded on overseas transactions will again be sliced in half, decreasing from 1.0 to 0.5 Qantas Points per Aussie dollar charged abroad.

All cards: There are no revisions to the conversion rates used when exchanging Amplify Rewards points for Velocity points, KrisFlyer miles or Enrich miles (remaining 2:1); for any spend on entry-level Amplify cards; on transactions made within Australia on any card; or for Amplify Business cards.

No changes to the 10% 'birthday bonus' for Amplify Signature cardholders have been announced, so these members can continue to receive a bonus of 10% on their yearly points earnings, delivered within four weeks of their birhday evey year.

The move follows parent company Westpac axing bonus points on international transactions for its own top-tier Altitude and Earth customers, and comes in the same week as NAB and Commonwealth Bank roll-out revisions to their own lines of frequent flyer credit cards.