DEFT rent payment on amex - earn points?

[shuuy]

Do others have success paying DEFT rent on their amex using deft.com.au?

I'm now on the earn points train, and I like snipe for ATO payments - best rate for what I use.

For my rent, sniip doesn't allow amex payments for BPAY biller code 4481.

But I can logon to deft.com.au and pay rent using Amex, with a 1.5% surcharge (including GST).

Haven't seen anywhere that this transaction doesn't earn points.

And at a 1.5% surcharge, the 'cost' of points is 0.4% ($100,000 of rent spend is $1,500 of fee; 225,000 MR points is $1,100 at Amazon or Woolies ... if you don't use the points for flights)

What am I missing?

 

[sudoer]

What am I missing?

Personally I wouldn't pay 1.5% just to earn MR on rent, especially post SQ deval, unless I had a specific redemption coming up. There are just better earning opportunities out there, along with my usual spend levels, which keep my balances sufficiently replenished for my usual travel levels. I'm also a bit worried about further Amex devals, particularly for QFF transfers.

Paying the surcharge makes a bit more sense on business tax payments because you can claim the payment processing fee - but note the same does not apply to personal income tax payments to the ATO...

(usual disclaimer - not a tax agent, do your own research and speak to a professional etc)

 

[VPS]

I pay my Strata fees via DEFT - I think the cost is less than $100 a year but I get 10,000 FF with Qantas so that's OK for me

 

[hossein_au]

Do others have success paying DEFT rent on their amex using deft.com.au?

I'm now on the earn points train, and I like snipe for ATO payments - best rate for what I use.

For my rent, sniip doesn't allow amex payments for BPAY biller code 4481.

But I can logon to deft.com.au and pay rent using Amex, with a 1.5% surcharge (including GST).

Haven't seen anywhere that this transaction doesn't earn points.

And at a 1.5% surcharge, the 'cost' of points is 0.4% ($100,000 of rent spend is $1,500 of fee; 225,000 MR points is $1,100 at Amazon or Woolies ... if you don't use the points for flights)

What am I missing?

I cannot quite follow how you got to the figure of 0.4%?

Based on your example: "1.5% surcharge, ... ($100,000 ... spend is $1,500 of fee; 225,000 MR points...". If you transfer the MR points at 2:1, it equates to 112,500 points. That is about 1.1% for 'cost of points'.

 

[shuuy]

I cannot quite follow how you got to the figure of 0.4%?

Based on your example: "1.5% surcharge, ... ($100,000 ... spend is $1,500 of fee; 225,000 MR points...". If you transfer the MR points at 2:1, it equates to 112,500 points. That is about 1.1% for 'cost of points'.

If I spend $100,000, and have a $1,500 surcharge fee on that I earn 228,375 membership rewards points.

I can get a $50 gift card for 10,000 membership rewards points.
So 220,000 membership rewards points = $1,100 gift cards (eg Woolies, Amazon)

$1,500 surcharge less $1,100 gift cards is a $400 net cash outflow.

I've found some great Qatar awards redemptions (ex PER, ADL, MEL) recently so the inclusion of QR Avios is appealing to me.

 

[hossein_au]

If I spend $100,000, and have a $1,500 surcharge fee on that I earn 228,375 membership rewards points.

I can get a $50 gift card for 10,000 membership rewards points.
So 220,000 membership rewards points = $1,100 gift cards (eg Woolies, Amazon)

$1,500 surcharge less $1,100 gift cards is a $400 net cash outflow.

I've found some great Qatar awards redemptions (ex PER, ADL, MEL) recently so the inclusion of QR Avios is appealing to me.

I see. Your calculation is not 'cost of points', it is your 'cost of paying your bill'. You end up being about $400 out of pocket for paying a $100,000 bill. You will not have any 'points' left as you would have liquidated the points to reduce your out of pocket cash.

 

[frodo]

Not worth it for rewards points/gift cards, for me it's worth paying via deft where possible as I earn 1.25 QF points per $1.
With a 1.5% fee, this equals 1.2c/qf point which I am willing to pay for.

I pay my Strata fees via DEFT - I think the cost is less than $100 a year but I get 10,000 FF with Qantas so that's OK for me

Guessing that's taking into account the tax implications otherwise I can't see how you can get 10k QF points for under $100.

 

[bbqwer]

Dont use your amex.

Instead do this method, I have been doing this all for my deft payment.

https://www.giftcards.com.au/ShoppingCart/ProductDetail/CG_card_Mastercard%20Digital_%24250

Buy this coles digital mastercard ( promotion has been running a while now, waived $7 purchase fee ).

I got amex edge and amex charge. I use amex edge ( $1 for 3 points MR - this is counted as supermarket ).
Then use those coles digital mastercard to pay via deft ( you got lower fees as well ).


This is the best method by far. As long as those purchase fees are waived.

 

[wohoo]

Dont use your amex.

Instead do this method, I have been doing this all for my deft payment.

https://www.giftcards.com.au/ShoppingCart/ProductDetail/CG_card_Mastercard%20Digital_%24250

Buy this coles digital mastercard ( promotion has been running a while now, waived $7 purchase fee ).

I got amex edge and amex charge. I use amex edge ( $1 for 3 points MR - this is counted as supermarket ).
Then use those coles digital mastercard to pay via deft ( you got lower fees as well ).


This is the best method by far. As long as those purchase fees are waived.

Cool, just don't try to open the links to the giftcards overseas like me last year. Got my giftcards locked for 2-3 months until I filed a financial ombudsman complaint to incomm to get my cards unlocked.

Has to be opened with an Australian IP.

 

[VPS]

Guessing that's taking into account the tax implications otherwise I can't see how you can get 10k QF points for under $100.

There are no tax implications - I get 1.25 points per $1 spent - Strata fees about $7k plus I pay about $100 in surcharge so not quite 10k but about 8.9k Qantas points

 

[shuuy]

Dont use your amex.

Instead do this method, I have been doing this all for my deft payment.

https://www.giftcards.com.au/ShoppingCart/ProductDetail/CG_card_Mastercard%20Digital_%24250

Buy this coles digital mastercard ( promotion has been running a while now, waived $7 purchase fee ).

I got amex edge and amex charge. I use amex edge ( $1 for 3 points MR - this is counted as supermarket ).
Then use those coles digital mastercard to pay via deft ( you got lower fees as well ).


This is the best method by far. As long as those purchase fees are waived.

The only challenge with this method is needing 15+ gift cards / fortnight to pay rent.

 

[bbqwer]

The only challenge with this method is needing 15+ gift cards / fortnight to pay rent.

$250 each. Your rent $3750 / fortnight -