10,000 QFF points will cost approximate $0.24 with early repayment of $2,490
Repost from previously expired deal offered from Qantas Money, with updated step by step as below.
- In app go to Statements > Instalment Plan > Set-up Instalment Plan.
- Select either Cash Instalment Plan (Available balance transferred to external BSB/ACC), or Statement Instalment Plan (Statement balance to instalment plan) dependant on which is on offer.
- Enter min. $2500 over 12 months.
- Confirm information and submit. Instalment plan is now set-up.
If Cash Instalment Plan set up:
- Wait for funds to be credited to nominated bank account. Once credited, transfer $2490 back to Qantas Premier Card via BPAY.
- Once funds received on QPC, call QP and ask them to allocate the $2490 to the Instalment Plan as an ‘extra repayment’.
If Statement Instalment Plan set up:
- Transfer $2490 via BPAY from external bank account.
- Once funds show on QPC, call QP and ask them to allocate the $2490 to the Instalment Plan as an ‘extra repayment’.
The ‘extra repayment’ allocation generally completes within 24 hours. Your instalment plan will now show updated repayments of approx. $0.80 Principal and $0.08 interest. The month ‘0’ interest only repayment is also updated (approx. $0.08c) even though it does not show this listed. An additional bonus, due to the way this ‘extra repayment’ is processed, it will also either cover some or all of your minimum monthly statement, dependant on statement balance/extra repayment amount. You can likely utilise this with larger amounts to benefit an offset account but I only have a minimal credit limit so haven’t bothered.
Plan/s must be active with repayments met for 3 months to receive the 10,000 points. Note, points only available for one type of each plan set up per calendar month. Believe points will be paid within 90 days after the 3rd payment is met. I won’t pay the instalment plan off until points credited just in case, interest is extremely minimal so won’t matter.
Based on only setting up one instalment plan, it equates to approx. $0.24 for 10,000 QFF points. For reference, I currently have 5 set up, all with balances under $10 and the same monthly repayments.
https://www.ozbargain.com.au/node/892557
Link to my previous post, which yes, is quite messy, but may answer any questions you might have.
This offer is exclusively available to Qantas Premier Credit Card holders. If you don’t have the card, this deal doesn’t apply to you. Happy Sunday!