ANZ: What's everyone doing to spend their $1500 to utilise the recent QFF 50,000 points offer?

LNotAMoodle on 15/07/2014 - 17:50
Last edited 15/07/2014 - 18:34

Hi team,

This is in regards to https://www.ozbargain.com.au/node/151161

I've received and activated my cards, and am wondering what everyone else is doing to spend their $1500 and pay the balance off within the interest free period.

Obviously there are some of you out there that will make legitimate purchases which are necessary, then pay them off. But I'm after idea's on whats the best thing to buy and then sell for the same price (or close enough) as to get the 50,000 points without actually spending a cent.

Have looked into the gift cards option, but some users report here - https://www.ozbargain.com.au/node/150255 that ANZ handle them as cash advances in some instances, which IS NOT an eligible purchase to get the 50,000 points.

EDIT:

$1500 worth of eligible purchases (excluding fees, cash, cash equivalent transactions, balance transfers and premiums for ANZ credit card insurance) within three months of approval to receive the bonus Qantas Points. The bonus Qantas Points will be credited to your account within four months of the eligible spend criteria being met.

Any ideas?

Cheers,

Financial

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Comments

  • modsec802 on 15/07/2014 - 18:10
    +5

    Full sleeve tattoo

    • NotAMoodle on 15/07/2014 - 18:22
      +2

      And how exactly do I re-sell that within 44 days to pay the card off?

      • Dorka on 16/07/2014 - 10:32
        +14

        Sell it as advertising space for a business

    • easternculture on 17/07/2014 - 00:29
      -1

      Well ill be spending my $1500 on escort services and Hookers who own a Paypal here card reader.
      Ill also be checking with my local drug dealer if they own a Paypal Card Reader too

  • 2jzzzz on 15/07/2014 - 18:23

    You can't just buy groceries, fuel and a few bills?

    • NotAMoodle on 15/07/2014 - 18:32
      +1

      Yes. I obviously could. But the points take 4 months to get onto your card, and you have 3 months to gather the points. So a total of 7 months it might take to get the QFF points. I am just enquiring into a way to get it done quicker.

  • chubbyguts on 15/07/2014 - 18:30

    can you buy an macbook air for $1500 and get a refund the next day? Would that qualify for the minimum spend and would you still get the points after a refund?

    • NotAMoodle on 15/07/2014 - 18:33

      I've asked Dicks about this, however they said they (and probably most stores) will refund straight to the card, and that the banks in previous deals like this do not give you the points (this is why I believe they take up to 4 months to give you the points) so they can verify it was legit $1500 of purchases.

      • MelbBargainChaser77 on 16/07/2014 - 20:41
        +7

        Ive done this in the past. Give them another card to refund to, a little white lie of "I closed that account" always does the trick, in the very rare event they will ask for the exact same CC. All they would be looking for is any CC

  • MITM on 15/07/2014 - 18:40
    +1

    Give DSE another card to refund to. Doubt if they'll read the numbers.
    Then cash advance/withdraw the refund and pay it into the ANZ/QFF card, thus paying off the balance. Sit back and plan your 50,000 point spending spree.

    • NotAMoodle on 15/07/2014 - 18:48
      -3

      That's a good idea. Except then I'd have to pay the 20% + on the cash advance card correct?

      • MITM on 15/07/2014 - 21:48
        +2

        the cash advance is taken from the refund deposited into the card - you're not borrowing money
        eg credit card limit = $500.
        Refund of $1500 takes limit to $2000
        Withdrawing $1500 (called a cash advance) brings the limit back to $500.
        None of which you "borrowed" from the credit card, so nil interest.
        You've moved money around. Just like using a 28 degrees card while overseas.

        • NotAMoodle on 15/07/2014 - 22:29

          I have a mate that works for DSE so I'll ask him re: the changing of the refund card tomorrow.

    • chubbyguts on 15/07/2014 - 20:12
      +5

      maybe give them a debit card to refund onto and then transfer the refund to the creditcard to pay off the $1500

      • NotAMoodle on 15/07/2014 - 20:19

        Now thats an Idea. I wonder if they will refund to just my standard Visa debit card. That is the problem solved right there if that's the case.

        • microsnot on 16/07/2014 - 22:17
          +2

          Your mate at DSE might do it but shouldn't. It's there to protect the merchant from fraud and there's probably some money laundering reasons also.

          Possible scenarios:
          1. Steal a credit card, buy a MBP, refund it onto another credit card, withdraw cash.
          2. Use your credit card to buy a MBP, refund onto another card, open a dispute with the credit card company.

    • ronnknee on 16/07/2014 - 11:04

      Don't know why you got negged. This is actually a feasible solution. I gave you a vote to bring you back to neutral.

      • MITM on 16/07/2014 - 17:47

        thanx ronn

  • DryScissors on 15/07/2014 - 19:24
    +1

    Let my missus buy $500 worth of clothes. The rest will go on groceries.

  • [Deactivated] on 15/07/2014 - 20:07
    +2

    I don't have any ideas for the full $1500 but here's an idea for some of it.

    Do you have medical expenses such as an out of pocket GP bill, optomotrist or other medical fee where you can get a medicare refund straight away? Pay the fee in full using the credit card. Then get the medicare refund sent to a transaction account from one of your other cards. I do this all the time to maximise the base points on my credit card. This means the full bill amount counts towards your $1500 target but you get back some of that money without the credit card company being able to track that there's been a refund.

    • NotAMoodle on 15/07/2014 - 20:18
      +2

      Good idea. Will look into that, unfortunately (fortunately) I'm extremely healthy at the moment so this could be difficult… But great way to maximise points in general!!

  • Colin2905 on 15/07/2014 - 20:42

    I only applied for the card today, but I'll probably pay my land rates. I expect that I'll be seeing the rates notice soon, and it'll be due by mid-August. Last year it was about $1700, but it'll be more this year.

  • verio on 15/07/2014 - 21:42
    +4

    I don't think this is right to buy something and then return it for a refund to get these QFF. Technically it is perfectly legal, but if everyone is going to do that we will soon end up without any credit card offers at all. Plus I believe it is unethical.

    • MITM on 15/07/2014 - 21:50
      +1

      Good for you. And the bank CEO's sleep just as sound after slugging you for ATM fees of $650 million a year !!

      • ronnknee on 16/07/2014 - 11:20

        I read from an ad that it's $1.5 million a day so that makes it closer to $550 million a year :)

    • MITM on 15/07/2014 - 21:54

      And how much time have you wasted buying something online from DSE for example, when it was never available for purchase all along ?
      And what is the real price of petrol - do you get a discount with the voucher or do you pay more without one?

    • NotAMoodle on 15/07/2014 - 22:27
      +3

      "ANZ has lifted its first half cash profit 11 per cent following solid growth across its divisions. The bank made a cash profit of $3.5 billion for the six months to March 31, up from $3.2 billion for the same period last year. Net profit was $3.4 billion, up 15 per cent from $2.9 billion a year ago."

      I will still go to sleep OK tonight.

  • p1 ama on 16/07/2014 - 01:33
    +3

    Why can't you just do it properly rather than trying to cheat the system?

    Here are some ideas of purchases you can make:

    1) Groceries and standard expenses, maybe stock up on nonperishables such as canned foods, tissues, toilet paper, detergent…etc. This should account for a heap, if your grocery bill is $150 pw then you'll easily hit half the requirement ($750) in a month if you spend a bit more.

    2) Any new things you need around the house. Do you need any new things.

    3) Stock up on things you WILL need in the future, e.g. clothes.

    4) Find some good deals on the OzBargain home page that would be useful for you.

    It's not hard to spend the remaining $750 on something, surely there's stuff you've been putting off.

    • p1 ama on 16/07/2014 - 01:36

      Also forgot, what about your utility bills?

      • ozy on 16/07/2014 - 08:59
        +1

        Its not cheating. Its Ozbargaining.

        • p1 ama on 16/07/2014 - 10:18
          +1

          Except there's no reason to, all you have to do is spend $1500 in the first three months to get the points.

          Why go through the trouble of trying to cheat the system when you could just use the card for your bills and groceries and things you're going to buy anyway?

          Everyone I know spend $1500+ in groceries over 3 months.

        • lolmao on 16/07/2014 - 12:18

          @paulsterio: some of us dont have $1500 of groceries to buy :(

        • p1 ama on 16/07/2014 - 15:30

          @lolmao: What you're saying is that your montly expenditure including all groceries, bills and other necessary items is less than $500?

        • lolmao on 16/07/2014 - 22:03

          @paulsterio:
          my parents pay for my food and utilities, my employer pays my myki and i already bought 12 month of phone credit on the last 50% off telstra deal

        • p1 ama on 16/07/2014 - 23:36
          +2

          @lolmao: Give the card to your parents to use and they can pay you back in cash? I'm sure they'd have lots to spend in bills, food and the like? Just an idea!

        • lolmao on 17/07/2014 - 07:36

          @paulsterio: yeah could be the go

        • IanK on 18/07/2014 - 15:42

          @paulsterio: Oops, accidentally negged. This seems like a good idea - in fact, if your parents don't use a card that gives them points, you should get them to use your card more often…

      • Orange on 17/07/2014 - 21:22

        AGL charge me 1% more if paying by CC…

    • MITM on 16/07/2014 - 17:53

      You,ve missed the point - OP wants the QFF points ASAP, hence one big spend without spending a cent ie without costing anything. 3 months of spending plus up to 4 months waiting for points = 7 months max.

      A macbook & refund will take one weekend.

      • p1 ama on 16/07/2014 - 19:39

        Except that would refund back to the card and it's most likely that ANZ would be onto people doing that. I'd read the terms and conditions carefully, there might be clauses which prevent us from doing that sort of stuff.

  • shaneharley on 16/07/2014 - 08:41
    +2

    Reading that previous article, it seems like most of the banks charging gift cards as cash advances were part of GE Money. I'm going to just buy $1000 worth of gift cards in store, that way it only comes up as 'Coles' and no specific details of what it was for.

  • daveozsydney on 16/07/2014 - 10:08

    Buy some ANZ shares :)

  • uniqualz on 16/07/2014 - 10:12

    Can someone please give me a SERIOUSLY GOLD example of how FF programs actually represent a good investment when other airlines just offer cheaper flights to start with? I don't get FF programs at all, but you all seem so into it..! Edumercate me, please..!

    • p1 ama on 16/07/2014 - 10:20

      It's not just for flights, there are other things you can buy as well.

      I don't fly (don't really like to travel!!) but I find that there are sometimes nice things you can buy with your points.

    • modsec802 on 16/07/2014 - 10:20

      Simple: loyalty of customers. Since I have Qantas FF I would be hesitant to book another airline as I get benefits (points, status credits, upgrades)

      • modsec802 on 16/07/2014 - 10:22
        +2

        Update: I thought you meant from an airline's point of view.
        From a consumers point of view, not much.
        You would be financially better off just getting the cheapest fare. But once you have loyality then it's easy to get used to lounge access and upgrades etc.
        Since most of my travel in the past hasn't been paid by me, my employer, I chose Qantas and racked up points

    • Malarkey on 16/07/2014 - 10:26
      +1

      Have you ever been stuck on a 14hr plane ride? You'll appreciate the upgrade to business class using your FF points, trust me ;)

    • ronnknee on 16/07/2014 - 11:49
      +7

      What I've gathered from most Ozbargainers/Whirlpoolers is that it offers a cheaper way of upgrading your seats. However, personally I think gift cards are better because I'm used to Economy class and don't care about upgrades.

      Consider this example (the numbers are completely arbitrary):

      A flight to somewhere in Economy class costs $1,000 while Business class costs $2,000. You also have collected 50,000 FF points using an FF credit card. You can use all those points to redeem an upgrade from Economy to Business class.

      Using Ozbargainer's logic, you have saved $1,000 for not paying for the upgrade but by using your points instead. That means each FF point is valued at 2 cents/FFP.

      Alternatively, you can spend all those points on supermarket gift cards instead and it will net you $500 instead. That means each FF point is valued at 1 cent/FFP.

      An Ozbargainer would say that best way to use your points is to redeem an upgrade because your FFP is worth more. However, my argument is, do you normally pay for an upgrade to Business class (or a higher class other than Economy)? If you were going to upgrade anyway, then yes, paying for an upgrade would certainly have the most worth. Otherwise, if you're happy to seat in Economy normally, then an upgrade would be a waste and therefore gift cards would be more worth it (because you would have to pay for groceries anyway).

      In the end, it comes down to what you value more, regardless of FFP dollar value: cheaper groceries or a flight upgrade.

      If cheaper groceries matter to you the most, then collecting FF points is the worst of doing it because you save less per dollar spent (realistically it's about 0.2%). You're much better off with MeBank/ING's 5% PayPass/PayWave cashback or Coles Mastercard Annual Fee Rewards 2% equivalent cashback. However, given that the FF points are free, then it's certainly fine to spend them on groceries.

      • p1 ama on 16/07/2014 - 15:33

        It's important to note the economics here, what you're talking about is cost, but most of the time cost is not the same as utility, i.e. what we benefit from something.

        For some, the "worth" of a flight upgrade may be heaps, for others, such as myself, it's not worth anything because I don't fly, thus, it comes down to what is worth the most for each individual.

        • gimli on 18/07/2014 - 18:59

          Thanks professor.
          I guess we know who'll be winning the noble prize for economics next year.

        • ronnknee on 19/08/2014 - 09:37

          Isn't that what I'm saying?

          In the end, it comes down to what you value more, regardless of FFP dollar value: cheaper groceries or a flight upgrade.

  • edgar28 on 16/07/2014 - 10:41

    pay your council rate in advance……. or water rates

    • NotAMoodle on 16/07/2014 - 16:54

      My council/water/electricity/EPA etc all get Direct Debited from an account which I can't touch easily, and everything is setup automatically…. Cancelling some of these to pay via credit would be a huge pain in the ass really!

  • twister292 on 16/07/2014 - 11:10

    Paid for new passport ($366 for frequent traveller), EngineersAustralia membership renewal ($354) so $720 straight up done. Also helped buy a mate a Sony tablet and case for $550, and the rest can be easily covered by grocery shopping over the next couple of weeks.

    Just to be doubly sure, instead of BPay, might pay the water bill for the house on the CC too.

    • ronnknee on 16/07/2014 - 11:21
      +2

      Do you find the EA membership useful? I cancelled mine recently because I'm no longer a student and I would have to pay for a renewal. I didn't really have much use for it.

      • TopCat on 16/07/2014 - 12:36
        +1

        It is useful for when you want to approach/obtain Chartership.
        The details of the new system should be clear and available without requiring to be a member. As a young engineer, it is most financially viable to write chartership reports without being a member, and when you feel that you are ready to obtain chartership and start submitting reports, then you can become a member within that year.
        AFAIK, there is no penalty for skipping a year or two of membership.
        I believe that to maintain a Chartered title, you must be a member.

    • lolmao on 16/07/2014 - 12:21

      yes it is useful?

  • harper on 16/07/2014 - 13:14

    How about putting 500 or so on your myki/ go card and then get the cash refunded when you get the points? I like the Mac book idea though too so if anyone has done this and been able to put the refund on a new card would be good the know.

  • modsec802 on 16/07/2014 - 13:30
    +7

    Made some amazing progress at lunch, $6 on a salad and $9 on confectionery for my team members. $15 down, $1485 to go!

  • Malarkey on 16/07/2014 - 13:48
    +5

    I got lucky and about two days after my card was activated I had to buy a whole lot of stuff for a team day we were having at work but the boss was out so he said to just buy it and get reimbursed. I ended up spending $1400 in two days. Most of it was on the AMEX card so I netted about 1700 points as well. Didn't cost me a cent as I've already been paid back the money I spent!

  • andyken on 16/07/2014 - 15:13

    pay your car or home insurance or registration in advance. DONE

  • Kenb0 on 16/07/2014 - 15:42

    buy a high priced item at costco on the card, then return it a day later. Last few times I've returned stuff for refund, they asked for any card to refund it back onto, so just produce a different debit/credit card then.

    • NotAMoodle on 16/07/2014 - 16:55

      No Costco in Adelaide yet :(

  • windsurfer-sp on 16/07/2014 - 16:01
    +1

    I have been buying everyone's lunch at work. $100+ trips to Nandos paid for by the AMEX and I get cash in hand: sometimes with a "keep the change" too!

    • Baghern on 17/07/2014 - 20:57
      +3

      nandos points as well?

  • therooftop on 16/07/2014 - 16:40
    +1

    Paying for bills, holiday, Opal Card and groceries. I think Ive already spent $1000 since my card was received a few weeks ago. Once I reach the 1,500 Ill go back to using my Amex Platinum edge.

  • NotAMoodle on 16/07/2014 - 16:51

    @uniqualz

    I am a Qantas Gold member and do a whole heap of travel. I regularly use the extra points to upgrade to domestic business, and also to book Classic Award Flights. As I'm Qantas gold, I get to access to more seats than say a silver or bronze member.

    For instance just last week I flew ADL-MEL during peak hours (over Friday night, back Monday morning red eye) and the whole thing cost me 16,000 points and $71.00 in taxes. I took the mrs into the QC Friday arvo and we drank Chivez for free for a few hours before our flight. These flights during these times (with Qantas) would normally be around $400 return or more.

    So if I can get an extra 50,000 points for $0, then I personally believe its worth it.

  • NotAMoodle on 16/07/2014 - 16:52

    FYI Update on the Dick Smiths idea.

    They will not refund to another card. I "raised" the idea that what if I had lost the card which I had paid for the goods with, they said no problem, we would provide you with a "Refund Card". Which essentially is a store/online credit.

    • chubbyguts on 16/07/2014 - 17:35

      Bugger

    • MelbBargainChaser77 on 16/07/2014 - 20:49
      +1

      I returned a product to DS, $499 and got a refund on a different card that I paid with- No questions asked- this was about 2 months ago'

  • fedwood on 16/07/2014 - 22:37
    +1

    Perhaps if you were planning to donate to charity sometime in this new financial year you could get it out of the way now.

  • hj0809 on 17/07/2014 - 00:31
    +1

    Dyson vacuums

  • j4ck on 17/07/2014 - 10:45

    I had $1400 worth of Basketball fees to pay. So almost there in one go!

    • thejew on 18/07/2014 - 19:30

      What about Basketball costs $1,400 ??

  • [Deactivated] on 17/07/2014 - 10:52

    Wait for a 15% off sale on Apple. Buy it then resell.

  • Peanut money on 17/07/2014 - 11:36

    Buy a $1500 fully flexible qantas fare 1 yr in advance
    Get the points
    Cancel fare and get refund
    Win win

    • shaneharley on 17/07/2014 - 12:50

      Can you refund these fares to a different card?

      • ronnknee on 18/07/2014 - 09:11

        I think what this OP means is: he will purchase a flexible ticket (most expensive one, but allows free cancellation and full refund) for a distant future eg. 10 months ahead. Once the FF points have been awarded after 7 months, he will cancel the ticket and claim the refund on the same card (who cares after the points have been awarded, right?). After that, he will cancel the card.

    • ronnknee on 18/07/2014 - 09:08

      About our prices
      * Price includes taxes, fees and carrier charges except local airport taxes collected at time of check-in. The prices shown are based on payment at Qantas.com by BPAY. Add A$10.00 per passenger for payment by debit/prepaid cards or A$30.00 for all other card payments (excluding UATP). Flight Out and Flight Back fares shown are only valid when purchased as a return journey. Price differences within a fare type may be due to flight connections or availability.

      The refund will be the difference (if any) between the fare paid and the applicable fare for the journey travelled.

      It sounds like you can't have the $30 card payment fee refunded; unless, you can BPAY using the credit card that I don't know of?

      • Peanut money on 18/07/2014 - 10:40

        Wasn't being too serious. Wanted to show some humour in using the 2 companies into exploiting the programme.

  • hoiboy on 17/07/2014 - 13:43

    I'm curious - what's the rush with getting QFF points asap? Just take your itme and spend it within the 3 months. The actual time difference to getting the points would be like 2-ish months right - you obviously haven't found anywhere to spend the $1500 as of now, and the QFF processing time would be the same.

    I can't imagine most people I know not being able to spend $1500 generally on life within 3 months (dining / groceries/ fuel / insurance etc), and that's not considering big ticket items that occasionally get bought.

    Why don't you see if you have a friend who's looking to buy a big ticket item?

  • davohatcher on 17/07/2014 - 13:56
    -1

    Does anyone know if there is a cancellation fee, Use the card for about 6 months then cancel after getting FF points etc

    • NotAMoodle on 17/07/2014 - 17:52
      +1

      No cancellation fee, however if you cancel before receiving the points (even if you've spent $1500) you're at risk of not having the points credited.

  • seanti on 17/07/2014 - 14:21

    I don't know how worthwhile it would be, but could you create an online store, buy something from yourself with the card, and get paid in a different account? I've always though that it would work with no/minimal loss as you're just moving the money in a loop.

    • bluedufflecoat on 25/07/2014 - 13:59
      +1

      As a merchant, wouldn't you be paying a commission to the credit card company? So that could be anything from 1% to 3%.

  • nadan on 17/07/2014 - 14:23

    To help further with better returns on the points, here is an article.

    http://www.theage.com.au/executive-style/business-travel/the…

  • IanC on 17/07/2014 - 16:40
    +1

    If you have private health insurance pay 6 months or whatever in advance.
    Gone immediately

  • ahoyhoy on 17/07/2014 - 17:41
    +1

    My old lady pays my grandfathers nursing home once a month with cash ($1400) . Look for old people to help out you may even know one !!

  • gstfree on 17/07/2014 - 19:59

    Bought an airticket to Ireland for 2.9k.

    Suggest spending if you can not reach 1.5k:

    Prepay council fees
    Buy some discount woolie coles giftcards
    Prepay some utilities
    Recharge your myki if you are commuter.

  • shadowfangz on 17/07/2014 - 20:05
    +1

    Rent

    • adn on 18/07/2014 - 00:59

      Some places don't let you pay rent by CC

      • shadowfangz on 18/07/2014 - 10:40
        +1

        Aye, I'm very fortunate in this

  • juke33 on 17/07/2014 - 21:35
    +1

    What about sending money to a 'friend' on PayPal? I could send $1500 to my Dad, Paypal would subtract $36.30 in fees in addition to that transaction. Is it likely that the bank would deem that as a non-purchase?

    • NotAMoodle on 17/07/2014 - 22:27

      I feel this would most likely be charged as a "Cash Advance" ??

      • juke33 on 18/07/2014 - 00:24

        I figured so. I just came to realise that many other Paypal transactions which should be charged as so have not.

  • nadan on 18/07/2014 - 16:07

    Already $1000 gone on this, Paid a bill for dad and a sibling spent another $400.

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