Hi all,
I currently have an Amex for earning points, and I have been using ING direct for anything outside of Amex (earns nothing now).
I am thinking of setting up Qantas Cash on my Frequent Flyer card to earn 1 Qantas point per $2 spent in Australia. Anyone else know a better card that can earn better points? It must not be a Credit Card.
Their earn rate is halving (for spend within Australia) on 1 July unfortunately:
https://www.ausbt.com.au/qantas-cash-travel-card-revises-freā¦
No personal experience with the card, but at the existing rates the earn is not too bad, but at half those, it's not going to earn you much
To my knowledge (and i could be wrong) the only other non-credit card option for earning Qantas points is the Bankwest Qantas Transaction Account. You earn Qantas points from the following:
5 Qantas Points per eligible purchase
12 Qantas Points per month per $100 balance in your account
5 Qantas Points every time you withdraw cash from an overseas ATM
See the link for more information: Bankwest Qantas Transaction Account
Also, depending on your savings habits you may be interested in a savings account by Qudos Bank, called the Qantas Points Saver. Not sure if that will really be what you are looking for but here is more info if you want: Qudos Bank Qantas Points Saver
What's the return rate on these? Is it possible to convert it to QFF points?
lol no it is absolutely not possible to convert Velocity points to Qantas points
How is loading of Velocity Wallet or Qantas Cash treated when Bpay from a Credit Card? Can you make BPay payment from CC? Is it cash advance or just a payment?
It will be treated as a cash advance. I think they identify it from the bpay biller code.
I have Qantas Cash. I am not sure why I got it originally. It must have been for an offer. For foreign currency I use Citibank Plus which has no conversion rate fees or transaction charges (that I have ever been hit for anyway).
However the Qantas Cash is a Mastercard, and so it is good for mastercard offers such as the expedia 12% off for mastercard - you just have to pre-load it.
https://www.ozbargain.com.au/node/291166
There aren't too many cards in the market that are non-credit cards that earn you points.
Is there any reason you don't want a credit card? Of the ones above, Velocity Global Wallet or Bankwest Qantas Transaction account seem like they'd be best for you. If you make a lot of high value transactions, Velocity Global Wallet would probably be better as it earns you points per dollar as opposed to the Bankwest one which is per transaction. Keep in mind one earns you Qantas points and the other earns you Velocity points though.
Thanks for the detailed reply. Do you know the differences in return rate for velocity vs qantas point? How much is a point worth?
The reason for not having another cc is because of credit rating. I would like to minmise the impacts of getting a mortage a year or two down the track.
I think it was coles cc that was the best earning cc for points?
Velocity Global Wallet and Qantas Cash earn at the same rate, until July 1 when the earn rate on the Qantas Cash card is halved (credit to Crazy Diamond/AusBT, as I wasn't aware of this change). That is, you earn 1 point per $2.
A point is worth roughly 1 cent - and this is based on the rate at which Ozbargainers most commonly purchase points from each other for through the Classified section. However, the real value of a point could vary anywhere from about 0.5 cents per point to about 6-7 cents per point. Taking a conservative approach, I would say 0.7 cents per point is a "reasonable" valuation.
The factors that affect how much a point are worth would roughly be as follows:
It is commonly said here and from many sources that you get better value by redeeming it on premium classes of travel, e.g. Business Class & First Class. This is largely arguable and really comes down to the individual - i.e. how much do you value flying in premium classes of travel? If you wish to get from A to B, the argument is that you get more flights out of redeeming your points on Economy.
If your concern is in regards to your credit rating for a mortgage at least a year a way, I would say you have absolutely nothing to be worried about in relation to your credit rating. Firstly, a year is more than enough time for your credit rating to "recover". Secondly, I think the impact of a Credit Card application on your credit rating is overstated. Thirdly, there are actually quite a number of things that can affect your credit rating, some of which people do not even think about. As an example, a phone contract, changing electricity/gas/internet providers, obtaining a quote on a Personal Loan - these activities may all affect your credit rating (albeit slightly).
I would highly recommend a Credit Card over any of the cards mentioned above. Opting for a Credit Card will open up your options significantly and will also offer you more benefits.
The Coles Mastercard is probably not the "best" but it is indeed a pretty good card, especially for a non-American Express Card. I would argue that amongst the non-AMEX Credit Card range, the following are "good":
You get the odd card that is also offered fee-free for life - those are worth looking out for too but I don't believe there are any offers for those at the moment.
Which do you own and recommend out of the list provided?
Does anybody know which earn rate applies when the transaction is in AUD but processed overseas? I know NAB have given me a nice little surcharge for AUD purchases from Banggood and I've since avoided that by using 28Degrees.
Earn 1 Qantas Point for every $2 you spend in Australian dollars on eligible everyday purchases
Earn 1.5 Qantas Points for every $1 you spend in foreign currency on eligible purchases (overseas or online)
It is the exchange rate that they make their money on!
In one of their recent promo emails they stated:
50% more Qantas Points - earn 1.5 points for every dollar spent on eligible purchases overseas^
…which is a little bit different from the second category you've found. It's probably just someone on marketing/communications not being tight with their wording.
Bankwest debit card with Qantas points.I personally have one
https://www.bankwest.com.au/personal/bank-accounts/qantas-reā¦
š¤ But all those bonus points offers…
What about life insurance? Edit: nope too late