[AMA] Steve Hui founder of iFLYflat

Liflyflat on 18/08/2015 - 14:17
Last edited 18/08/2015 - 16:42 by 1 other user

Hello,

Using the format that Scott (OzBargain founder) used for his AMA.

I’m running an Ask-Me-Anything about ME & iFLYflat – scheduled for this Friday 21st August 2015, 10am to 11am (Sydney time).

Neil invited me to participate as it might make for an interesting chat.
You may remember me from https://www.ozbargain.com.au/node/135738

I’m, Steve Hui, the founder of www.iFLYflat.com.au – I wrapped up my corporate job at Macquarie Bank of 11 years and started this new venture 3 years ago. We help SME to optimise their rewards points from all sources to ‘pay’ for flights (ideally to luxe it up in first or business class).

After years of maximising the points of my own and my friends, I took the hobby of ‘travel hacking’ and turned it into a professional application of the technique, along the lines of ‘financial planning’. To-date we have redeemed just over 82,000,000 frequent flyer points for our clients, and helped people fly business class with their family and enjoying life, using points they never thought had any value.

This is an AMA – BUT however it’s not a strategy and planning session, so its not a free session about helping individuals decide on what to do with your own points, what is the best card specifically for you, or bitch about the airlines – as that would take forever, requires calculations and personal knowledge about your habits and that actually is my day job.

Some simple rules:

  • Ask questions in the top-level comments, and leave the replies for me to answer your questions & discussions. Top-level comments that do not contain a question might get removed.
  • Please vote up the good questions and vote down the bad ones.

Regards,
Steve Hui
Founder & Chief Executive
iFLYflat – Financial Planning for Points. We make your reward points FLY.

Mod: Ask questions now, and Steve will answer on Friday at 10AM

Poll Options expired

  • 8
    I have used my points to fly ECONOMY
  • 7
    I have used my points to fly BUSINESS
  • 2
    I have used my points to fly FIRST
Introduce Yourself

Comments

  • cypher67 on 18/08/2015 - 16:15
    +1

    Why do you think its been 2 hours and I am the first person to ask you a question?

    • rompastompa on 18/08/2015 - 16:29

      I’m running an Ask-Me-Anything about ME & iFLYflat – scheduled for this Friday 21st August 2015, 10am to 11am (Sydney time).

      We play by the rules!

      • cypher67 on 18/08/2015 - 16:39

        I seen "Ask questions now" and that's about it

        • rompastompa on 18/08/2015 - 16:41

          Neil just updated :)

          Ask questions now, they will be answer on Friday at 10AM

        • neil on 18/08/2015 - 16:42
          +1

          @rompastompa:

          Whoops, and this time in English:

          Ask questions now, and Steve will answer on Friday at 10AM.

  • neil on 18/08/2015 - 16:31

    Probably need 4th option. I've only ever used my points twice (on United) as I've never had enough. First time was about 15-20 years ago for magazine subscriptions and the other was a lounge pass a few years ago (both bad spends). Unfortunately, I have no flying loyalty.

    I've always contemplated signing up for multiple credit card offers that give you Qantas FF miles to see how many I can get however I'm a bit worried about affecting my credit rating. Would this be a methodolgy you would recommend?

    Also, a lot of your Instagram photos show you flying business/first class. How did you accomplish this?

    • iflyflat on 21/08/2015 - 10:03

      Hi Neil,
      Depending on your credit needs in the future, signing up for a few credit cards to score the bonus can be a plan.
      Everytime you apply for a card (whether approved or not), a request is marked on your credit file.
      So later if you are seeking a loan or other things, some banks may think you already have lots of credit elsewhere.
      But if you only do it once a while - then there is no harm.

      There are plenty of good points bonuses out there now
      ANZ has 50k Qantas
      Citi has 60k
      AMEX Virgin Velocity has 110k via referral links.

    • iflyflat on 21/08/2015 - 10:05

      On my personal flying - all my flights are on points.
      I structure 80% of my business spend to be paid via cards, and I also buy points from the airlines and structure a flight redemption that way.
      Overall, I accumulate a diversified points balances across a few airlines frequent flyer program to fly anywhere at anytime.

  • tomclancy on 18/08/2015 - 22:00

    Do you buy points from the airlines and on-sell them to your customers? If so, are you able to get around the family transfer limits (for example the QFF 100k/year limit)?

    • iflyflat on 21/08/2015 - 10:09

      hi PBG,

      No - I don't buy the points and on-sell (as that does breach airline frequent flyer terms and conditions).

      I can help customers to buy their own points from airlines (like American, United, Lifemiles etc) and redeem a flight from there - so it all stays legal and within their own ownership.

      Where you see on gumtree people selling points - this is a breach of the t+cs, and while some may not get caught - it is pretty easy for an airline to audit their transfers (if they wanted the expense) and cancel the transaction and even ban the membership.

      • tomclancy on 21/08/2015 - 10:57

        Ah, I see. That makes sense.

        I can help customers to buy their own points from airlines

        I was under the impression that buying points directly from airlines was not efficient? Are you able to help your clients obtain favourable/discounted prices on buying points?

        Thanks for your responses, Steve.

        • iflyflat on 21/08/2015 - 11:00
          +1

          Hi,

          On effective when using the purchased points to fly Business or First class.
          Not at all for economy.

          Effectively, with purchased points (when it is on discount or bonus), you can fly First class to USA (o United) for about $2,000 each way. You've got to say - thats worth it.

          Cheers

        • tomclancy on 21/08/2015 - 11:01

          @iflyflat: Gotcha. And yes that is a great price for a first class ticket :). Thanks again

  • iflyflat on 21/08/2015 - 10:00

    ok - 10am, I'm here to AMA!

  • mikeyaus74 on 21/08/2015 - 10:39

    Hi,
    Is there any way to accrue status credit without flying?
    I'm currently only 40 points away from getting to silver on my preferred scheme and looks like I may have to make a few flights to get those 40 points by end of Nov.
    If I do have to fly, do you have any pointers on the best way to accrue 40 status credits? Hometown is ADL

    • iflyflat on 21/08/2015 - 10:43

      Hi,

      Unfortunately no, flying is the only way.

      assuming you are talking about Qantas SC.
      ADL - SYD flying Qantas Econ is 20SC each way, this is a busy route, so probably the cheapest way.

      Adioso can show you where is the cheapest for particular dates
      http://adioso.com/au/adl-to-domestic-september-3-return-sept…

    • iflyflat on 21/08/2015 - 10:45

      Actually,discount economy is only 10 SC each way.
      flexible econ = 20SC each way

      https://www.qantas.com.au/fflyer/do/dyns/initialPointsEarned

      • mikeyaus74 on 21/08/2015 - 10:48

        Thanks. You are correct, It is with Qantas. I've fallen in the trap before about Discount economy V Std Economy. I've been playing with flights costs and different options, so I wont let Silver slip through my hands like last year.
        Thanks for the adioso link, I will look into that.

        • iflyflat on 21/08/2015 - 10:56

          Also remember to include Jetstar, you can earn points and SC when you add in the 'plus bundle'.
          This can be cheaper than flying Qantas on certain dates and routes.

  • iflyflat on 21/08/2015 - 10:58

    ok - thats about time.
    It wasn't very busy but I don't mind - during this time I multitasked and helped a client to double his points by switching one credit card.

    If you have anymore questions - I will also answer them during the day.

  • iflyflat on 21/08/2015 - 11:02

    Cheerio.

    While it may not work for you - if you know any friends who run a business - let them know and participate in our referral program.
    An easy way to score $100 by helping your friend to fly, and they can score $100 off too.

    Details:
    http://www.iflyflat.com.au/refer/

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