300,000 Qantas points is almost enough to book a Oneworld round-the-world award in Business class after the Qantas Frequent Flyer changes take effect in September. And it’s more than enough Qantas points to book two round-the-world tickets in Economy. (The ANZ website “helpfully” points out that you can also redeem those points for fancy household appliances… but we don’t recommend wasting your points on that!)
This is one of the highest offers of bonus Qantas points from a single promotion that we’ve ever seen. But you should only consider taking up the offer if you’re already in the market for a new mortgage anyway. Borrowing $300k or more is a costly exercise and we don’t suggest taking out a loan just for the Qantas points!
To be eligible for this offer, you would need to apply for a new ANZ home loan by 31 August 2019 and settle by 31 January 2020. After settlement, ANZ promises that the 300,000 Qantas points will hit your Qantas Frequent Flyer account within 90 days. There are a few other terms & conditions which you can read on the ANZ website.
If you’re thinking about taking out a new loan or refinancing, remember to shop around to make sure you’re getting a good deal. Qantas points can be valuable, but it’s not worth getting a mortgage with a poor interest rate just for the points if it means paying tens of thousands of dollars more in interest over the life of the loan. That’s not necessarily to say that you shouldn’t take up this offer, but you should do your homework first.
If you’re not in the market for a mortgage, remember that you can also earn substantial amounts of bonus frequent flyer points relatively easily with credit card sign-up offers. You can even earn up to 150,000 bonus Qantas points with the best credit card offers for July 2019.
Join the discussion on the Australian Frequent Flyer forum: ANZ – 300,000 QFF points offer on a mortgage