Reward Point Credit Card Shopping

SaberX on 02/12/2017 - 17:16

Hi all. I have been reading points hacks etc. But am not able to keep up with the world of point hacking. I prrv had an amex platinum edge and only recently signed up for the anz ff black to get the 75k bonus points. I am looking now at seriously accumulating points via sign ups as a means of funding my honeymoon.

Am abit confused where to from here for my next card. Given credit is tight with a home loan i would expect another card may or may not be my limit. Given the anz one is very generous with no annual fee first yr most alternatives charge a fee.

I am abit confused but wanted to know from the more educated here which bank and card to go for next?? We are looking to go nordic like switzerland or european thereabouts but have no concrere plan. As such we really dont know which frequent flyer program to target. Would we better off targeting qantas then reward cards that can transfer to velocity or asia miles or kris flyer (flexibile)??

And what is the value of points for redemption flights??in the sense of the westpac altitude black is $250 for 80k qantas points. The nab signature one is 100k points for $395. For those well educated on the manner how do i assess if the $145 extra annual fee is worth 20k more points? St george do inbetween with their amplify card now offer 90k points. I think the fee is $279?

Could someone help with some advice on assigning value to points and which ff programs moving points to are strategically more accepted as being flexible to tf to partners?? Say if i wanted to close my amex platinum edge would i be more futureproof transferring ascent points to velocity over krisflyer?? Cause can veloc£ty then be tf to other airlines or used for redemption? Just abit confused and not much time to read up. I need to apply on monday for a new card to get it before 12 dec. I am hoping to use it to part pay my wedding costs and meet the min spending in one hit (it would help)

Thanks for any advice!!

Financial

Comments

  • AusGP on 02/12/2017 - 17:31

    Looks like you really should read up on Point Hacks.

    Do be aware if you're intending on booking business class flights, depending on your destination you do have to book up to 11 months in advance.

    • SaberX on 02/12/2017 - 17:33

      I do. But its hard to put it all together sometimes when your not across every single page. It doesnt do a comparison of say the 3 or 4 cards i mentioned above and the value of paying more annual fee for one card over another. It's fine if you know each program indepth from points hacks already though to decide.

  • AusGP on 02/12/2017 - 17:37
    +1

    Basically Point Hacks values each point for Velocity at 1.2c per point. For simplicity I usually assign 1c per point (usually can sell points for 1-1.1c easily).

    So as a result you decide whether the annual fee is worth it. Also do be aware whether the NAB card is giving you their rewards points or actual frequently flyer points as it may be a 2:1 conversion (I'm not entirely sure).

    Also be aware that if you have multiple card applications and multiple cards open, this may impact on whether they approve subsequent cards, and then in the longer term your credit rating.

    • SaberX on 03/12/2017 - 20:59

      Thanks. How about qantas ff? And other major programs like asia miles. Krisflyer etc? Is there a value per point generally when comparing thr value of using them for flight redemptions??

      I just find it confusing as bank reward programs usually convert as 2 to 1 or so into velocity. Asia miles etc. Compare that to programs like anz ff black where you earn 1 qantas point per spend. So trying to compare cards that give you say 100,000 local reward points that may convert to less in krisflyer or velocity - am struggling to compare that to sau 60k qantas points outright 1 to 1 conversion etc. I found points hacks goes intk detail on carda and items but am alittle more lost on stringing together all the articles when considrring a multi layer situation.

  • maverick1 on 02/12/2017 - 18:41

    Hey mate - congratulations for getting onto this journey.

    What are your goals? Just flights or are you looking at hotels as well?

    • SaberX on 03/12/2017 - 20:56

      Thank you. Just flights atm. Unless there is compelling hotel deals on points we only thought about points to get us on to good flights for the honeymoon.

      As per my reaponses below without having a specific carrier or route known now is there a generic approach most recommended strategy wise as to which ff programs to accumulatr points?? E.g. to close my amex card so i can get more bonus card offers i need to transfer my ascent points somewhere. Who should i stash it with?? Is there any ff programs where yoiu can retransfer it into other ff programs if you realise doen the track that airlines isnt right??

      Lastly just trying to figure out which banks and card offers are best targeted. E.g per my OP how much extra points are worth by paying a higher annual fee card

  • marketingpolice on 02/12/2017 - 19:04
    +1

    how many points are you hoping for? also have you looked into how much the fees for ff plane tickets are these days? they are a lot more pricey than some people realise.

    • SaberX on 03/12/2017 - 20:53

      The issue is we know our honeymoon is likely to be end of 2019. Nordic countries. Maybe switzerland or to see the green lights in a glass igloo. Given it's so far off we dont know our exact destinations and therefore we dont know what airlines to target.

      That's why i was wondering fromcthose more experienced what was the best way to hedge my options. For example now that ive gotten 75k qantas should i build that up then move onto velocity points??

      My biggest qualm is to shut down credit cards like my amex i really need to tf the points to the ff program. I am assuming there isnt an universal ff program where stashing points is safe as say it can be then transfereed to other airlines??or generally once you tf cc reward points you need to get your ff program choice right??

      Given my lack of destinations i did dummy tests from circa perth to switzerland. Zurich. Etc. Seemed just over 200k qantas points to get to most european places and back (business i think)

      So all i had in mind was get as close to 200k qantas points aa i can?? And am hoping they easily tf to airline partners at a good value over other asian ff programs when it comes to booking the honeymoon flight. Like e.g. emirates is a partner with qantas and do alot of european routes i.e. nordic countries right??

  • SaberX on 03/12/2017 - 20:52

    The issue is we know our honeymoon is likely to be end of 2019. Nordic countries. Maybe switzerland or to see the green lights in a glass igloo. Given it's so far off we dont know our exact destinations and therefore we dont know what airlines to target.

    That's why i was wondering fromcthose more experienced what was the best way to hedge my options. For example now that ive gotten 75k qantas should i build that up then move onto velocity points??

    My biggest qualm is to shut down credit cards like my amex i really need to tf the points to the ff program. I am assuming there isnt an universal ff program where stashing points is safe as say it can be then transfereed to other airlines??or generally once you tf cc reward points you need to get your ff program choice right??

    Given my lack of destinations i did dummy tests from circa perth to switzerland. Zurich. Etc. Seemed just over 200k qantas points to get to most european places and back (business i think)

    So all i had in mind was get as close to 200k qantas points aa i can?? And am hoping they easily tf to airline partners at a good value over other asian ff programs when it comes to booking the honeymoon flight. Like e.g. emirates is a partner with qantas and do alot of european routes i.e. nordic countries right??

    • melay0326 on 05/12/2017 - 15:08

      Redeemed our QFF points last year to booked our business class flight for our honeymoon last May. You need a buffer of at least 11months to have the points ready for booking before your intended travel as business class flights snaps up quickly. We used around 450K points for me and my husband.. flew from PER to ATH then flew back BEL to PER via Doh.. very happy experience considering it's both our first time to fly BC.. we used QATAR airways as they have more seat availability during the time of booking.. we went to Nordic countries too from Bulgaria and the flight was cheap..

      • SaberX on 12/12/2017 - 00:00

        wow that quick? 11 months to a yr to book ahead in order to get the flights? Can you cancel if things pop up? Or do you lose your points if so?

        So do you just use your points to book the flight and you pay some taxes, and that's about it?

        • melay0326 on 12/12/2017 - 12:19

          You lose some points when you cancel the flight. I am not entirely sure how much points though. We paid the taxes when we book as its more economical than using the points

        • donbot on 12/12/2017 - 13:03
          +1

          Yep.. Qantas I think charge 5-6000 points per ticket cancelled. Its a price you pay, but nothing you can do. Full refund of balance of points and taxes though, so not all bad news.

          Award bookings for high demand dates (think school holidays/peak season in destination) book out really quickly. Trying to book Japan Airlines flight home from NRT-MEL in business class at the end of April school holidays 2018 - I literally called up, knowing they get released at 11am and kept the agent searching as it ticked 10:58… 10:59.. 11:00am (11am they got released, 331 days out from flying from memory) - bang on 11am, the award seats opened up and we snaffled 2 of the 4 seats that opened. By the time the booking was complete, the agent couldnt see any availability on that flight in business class. We missed the flights the day before (which is what we really wanted), but nothing we could do.

          So yeah, if you've got specific/tight dates in mind.. be prepared!

        • MathNerd on 12/12/2017 - 13:55
          +1

          @tizey: Wow, thanks for this insight tizey. Definitely something I'm scared of in terms of banking all my points.

          Is there a source somewhere saying the award seats are released at 11am on the day that is 331 days before the flight? Or do you just know this?

          For SQ flights in F, do you know what the amount of days / time that the award seats open up? Happy to have a PM too. Appreciate it mate, thanks!

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