Earn up to 110,000 Qantas Points with a NAB Personal Loan - Is This Worth The Time and Effort?

Lkaykay4 on 04/09/2022 - 14:19

Got this in an email, would this be worth applying just to churn points?

Considering 8 wks for points to be credited and all the fees associated with it like application fee, interest and monthly fees is not really worth it but want to check if there is way to get around paying minimal interest then might be worth it compared to credit card annual fees?

NAB deal link:
https://www.nab.com.au/personal/personal-loans/qantas-points…

How long will it take for my Qantas Points to be credited?
Qantas will allocate your points to your Qantas Frequent Flyer membership account within eight weeks following registration.

Thanks.

Financial

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National Australia Bank Group (NAB)

Comments

  • MrThing on 04/09/2022 - 14:36

    "Earn two Qantas Points for each dollar of your approved NAB Personal Loan amount when you borrow between $5,000 and up to $55,000"

    tl;dr: not worth it

    Get the Citibank virgin offer, $5k personal loan and 150k virgin points.
    https://www.ozbargain.com.au/node/713039

    • kaykay4 on 04/09/2022 - 14:47

      $5k loan for 150k points sounds much better. thanks will take a look.

  • ozbargainsam on 04/09/2022 - 14:56

    In theory, if you apply for the max, pull out all the money and move it back in ASAP, you'll only be out the $150 app fee, up to two months of fees ($20) and whatever variable interest charged for a few days? Assuming you get the max amount, it's comparable to CC churning. Albeit with the much bigger credit impact.

    • MrThing on 04/09/2022 - 15:28

      I am a furious churner, but applying for a 55k personal loan just to get 110k points (and easy to get qantas points at that) doesn't vibe me

      • kaykay4 on 04/09/2022 - 15:33

        agree with both of you. Good old days when we had loads of no annual fees and 100k points. We rarely see that anymore so been looking elsewhere for points. Weighing between credit impact vs 110k points, i am leaning towards impact being not worth the points although 110k is alot these days.

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