Caltex - QF points instead of fuel discount

[Mark3000]

Has anyone else thought about this:

Fill up on Qantas Points at participating Caltex Woolworths


When you have to buy fuel, why not make it more rewarding by earning Qantas Points? You can earn 2 points per litre on fuel at participating Caltex Woolworths co-branded fuel outlets when you swap your Everyday Rewards fuel savings for Qantas Points. It's just another way you can earn points on your everyday essentials, so you can reach the rewards you want faster. With over 450 locations across Australia, it's never been easier to earn points on fuel

https://www.qantaspoints.com/earn-points/shopping/caltex-woolworths

From my rough calculations, it seems very poor value if you have to give up the fuel savings:

Say a standard 60 litre tank, a saving of 4 c per litre would save $2.40
2 points per litre would be 120 points

That gives 120 points / 240 cents, ie 0.5 points per cent
Am I reading that right?

 

[Hvr]

I do the points all the time and you can generally tell if the previous person on the pump did if the total litres are rounded off rather than the dollar figure.

 

[sjd]

Has the lower petrol price made this more worthwhile?

 

[Mark3000]

Has the lower petrol price made this more worthwhile?

Good thinking, maybe, but probably since the points or savings are awarded per litre, the cost stays the same.
I guess the question is, is it worth buying points at 2 cents each. A lot of people buy points via ATO payments at 0.5 cents per point with a good 1 point per dollar card, or approx 1 cent per point for an Amex, but I'm thinking 2 cents per point is very expensive.
YMMV of course, and I guess if you can redeem them for J or F flights worth 8c per point potentially you would come out way ahead

 

[coles525]

Have always done it.

Whats $3 max per month, compared to 60ltrs per points (120 qff).

I infaxt save $117.00 for getting the same amount of poInts.

 

[Cool Cat Phil]

I do the points all the time and you can generally tell if the previous person on the pump did if the total litres are rounded off rather than the dollar figure.

That's precisely my re-fueling ritual.
Squeeze as many litres in as possible, rounding off to the nearest litre.

 

[andye]

Calculations change (1) if you are reimbursed for your fuel or (2) can tax-deduct it or (3) on novated lease. Maybe others

 

[Mr_Orange]

Calculations change (1) if you are reimbursed for your fuel or (2) can tax-deduct it or (3) on novated lease. Maybe others

Or if you purchase said fuel with a 5% discounted WISH card.

I take the points, although recently (twice only) I have been given the discount instead even though I have never changed my option from points .

 

[Mark3000]

Calculations change (1) if you are reimbursed for your fuel or (2) can tax-deduct it or (3) on novated lease. Maybe others

excellent point, I didn't think of that
very clever

 

[Mark3000]

Have always done it.

Whats $3 max per month, compared to 60ltrs per points (120 qff).

I infaxt save $117.00 for getting the same amount of poInts.

That sounds promising. I'm sorry though I don't understand where the $117 comes from

 

[coles525]

to normally collect 120 points, a normal spend is usually 1 point per $ spent.

Sometimes more (amex), sometimes less (0.5 points per $).

Spend $120, collect anywhere from 60 QFF to maby either 180 qff (1.5 per $) or 240 QFF (DJ Amex at 2.25 qff after conversion).

Or you could save $3! by getting 120 points, then recieving only 3 extra points from paying on cc and "saving a bundle"!

 

[SQ421]

Calculations change (1) if you are reimbursed for your fuel or (2) can tax-deduct it or (3) on novated lease. Maybe others

Or if you purchase said fuel with a 5% discounted WISH card.

I take the points, although recently (twice only) I have been given the discount instead even though I have never changed my option from points .

Or if you buy fuel at Costco

 

[ABC1]

My normal collect is around 212 points. I use 98 fuel. But mine is not 4 cents, but 8 cents because i get an additional 4 cents eaach time due to car insurance policies.. The way I see it, it all adds up.

 

[coles525]

My normal collect is around 212 points. I use 98 fuel. But mine is not 4 cents, but 8 cents because i get an additional 4 cents eaach time due to car insurance policies.. The way I see it, it all adds up.

4 QFF per litre @ say 53 litres = 212 QFF, Plus cc spend = over 300 points.

 

[k_sheep]

I get the points, but I buy so little petrol it doesn't really matter either way!

 

[Mark3000]

The amex points though are a separate issue though right, we get them either way.

 

[Mark3000]

So we can choose 4c/l or 2 points per litre

What then if you spend $5 in store, if you take the cash option you then save 8c/l. If you take the points option does that give you 4 points / litre?

 

[coles525]

The amex points though are a separate issue though right, we get them either way.

correct, charge the cc, get the usual points.

then it's either save $3 (less points on cc), or ditch the docket saving and get 100+ more points, for nothing extra (correct, you didn't spend/save $3 worth of points).

 

[Cool Cat Phil]

Or if you purchase said fuel with a 5% discounted WISH card.

I take the points, although recently (twice only) I have been given the discount instead even though I have never changed my option from points .

Yeh that has happened with me on the odd occasion as well & when question I've been told:
" The system's down".

Hmmm

 

[andye]

correct, charge the cc, get the usual points.

then it's either save $3 (less points on cc), or ditch the docket saving and get 100+ more points, for nothing extra (correct, you didn't spend/save $3 worth of points).

I think the OPs point still stands (for non-subsidised fuel). Even if you use a maximum earning payment method (eg a 5% discount WISH card with a Plat Edge to get some extra MR points and maybe some extra Myer points), you are still valuing QF points at over 1.7c each which is on the high side