Westpac Altitude rewards has reduced the cost of the cashback redemptions by 15% for "a limited time". Similar to this expired deal (https://www.ozbargain.com.au/node/323035) but the reduced the discount now.
Direct link to cashback redemption page: https://altituderewards.com.au/public/redeem_product.aspx?de…
The cashback is still good value compared to Woolworths gift cards and Bunnings cards (for example) for the lower value in particular, but the gift cards of a larger value are slightly better value. However considering the cashback is actually money now, I think it is quite good still.
For comparison:
| Value | Cashback | Woolworths | Bunnings | ||||||
|---|---|---|---|---|---|---|---|---|---|
| $50 | 11,975 pts | 11,750 pts | 11,900 pts | ||||||
| $100 | 23,950 pts | 23,500 pts | 23,200 pts | ||||||
| $200 | 47,900 pts | 47,000 pts | 45,800 pts (no $200 cashback, but based on doing 2 x $100) |
I usually redeem 20,000 points for $100 (MORTGAGE PREMIER ADVANTAGE PACKAGE FEE or Altitude Annual Fee Rebate.)
Best Value IMO.