Free points (almost)

Discussion in 'Travel Insider Tips' started by pomjim, Apr 30, 2005.

  1. pomjim

    pomjim Intern

    Aug 1, 2004
    86
    0
    Brisbane
    After some months of reading this board, I have noticed that nobody has mentioned a way that I use to get "free" points.

    I am a member of two online betting companies. All I do is make deposits from my credit card into my betting account, and leave the money in for a month or so.

    These deposits are NOT taken as cash advances by my c/c company (unlike in the US) but as purchases.

    When you take the money from the betting account however, it is paid into a nominated bank account. Cost: 1% of your deposit amount.
    Registered Users don't see this and have the option of removing all other advertisements.  Register HERE
     
  2. Karen

    Karen Intern

    Mar 4, 2005
    58
    0
    Sydney
    Um, I hate to tell you this but that is far from free - or even "cheap". 1% over say 6 weeks that you have left the money in the account annualised is around 9%. Thats the same amount as if you took out an unsecured line of credit to do the same thing. So if you did that with $10,000 over the course of the year it would have cost you $869 to get 10,000 points. they're cheaper than that over at qantas.com.au
     
  3. pomjim

    pomjim Intern

    Aug 1, 2004
    86
    0
    Brisbane
    karen

    this is an odd $1000 I have, sitting in the bank in case I need it. Effectively I can't get interest on it as I can't leave it in for any length of time, so I just transfer it back and forth.

    Ends up I efectively get 10000 points for $100.
     
  4. oz_mark

    oz_mark Enthusiast

    Jun 30, 2002
    16,877
    1,486
    Melbourne
    Flight Map:
    View my flight map
    Interesting idea, but I find for me, I am better off moving spare funds between the online accounts (5.5% interest) than trying to get points. In my calculations seemed to be a better approach.
     
  5. geoffb78

    geoffb78 Junior Member

    Jan 15, 2005
    48
    5
    I'd just like to add my two cents worth:

    Karen: I suspect the method employed by pomjim would work whether or not he left the funds in his online betting account for a month, six weeks or six months - the 1% fee would be charged on each withdrawal from the account. Your point about an annualised 9% rate doesn't apply here, I'd say.

    Also, while some may prefer to leave their money in an online savings account and earn $550 interest over a year on a $10000 balance (less tax, no doubt at around 47% for most people on this forum), earning a quick 10000 points for a $100 cost seems a good deal. To earn them otherwise, even for a silver or gold frequent flyer, would cost substantially more. Some of the posts I've seen on this board (relating to points runs across the country) would doubtless be worse uses of funds!
     
  6. oz_mark

    oz_mark Enthusiast

    Jun 30, 2002
    16,877
    1,486
    Melbourne
    Flight Map:
    View my flight map
    I think you'll find that the 'points runs' aren't about the points.
     
  7. geoffb78

    geoffb78 Junior Member

    Jan 15, 2005
    48
    5
    Hi Mark

    Could you elaborate on your earlier comments? I definitely got the impression that points runs were all about ensuring either sufficient points or status credits were accrued to ensure status retention. Am I misinformed?

    Geoff.
     
  8. dajop

    dajop Senior Member

    Jul 1, 2002
    7,966
    1,583
    SIN
    Flight Map:
    View my flight map
    I think Mark may have been alluding to the idea that some people who do points runs get some (perverse?) pleasure out of visiting 10 airports and flying 10,000km in less than 24 hrs in addition to the status/mileage benefits.
     
  9. Kiwi Flyer

    Kiwi Flyer Senior Member

    Sep 24, 2004
    5,453
    5
    There's a difference between a mileage run (extra travel to get extra points/miles) and a status run (extra travel to get extra status credits). Of course some runs can be both!

    Extra travel doesnt necessarily mean pointless (oops wrong word!) trips, it could be simply taking a connecting flight instead of direct where the marginal benefit exceeds the marginal cost.
     
  10. oz_mark

    oz_mark Enthusiast

    Jun 30, 2002
    16,877
    1,486
    Melbourne
    Flight Map:
    View my flight map
    I think yourself and others have covered what I was getting at:

    • The issue of retaining status
    • The 'perverse' ( I like that word - wouldn't have used it myself!) pleasure of visiting multiple airports in one day (not too mention the joy that goes into constructing the best value for money runs)


    The downside of such runs are that you are often on separate bookings and problems can arise if a flight runs late in the middle of your run
     
  11. abcde

    abcde Junior Member

    Jun 10, 2005
    14
    0
    i have thought about this idea before...
    and the betting agency im using allows you to withdrawl funds for free...
    but the catch is....
    you have to turn over your money before your allowed to withdrawl it.. ( you have to bet with the money , before they let you take it out)
    you cant put the money in and take it out the next day...
     
  12. bigjobs

    bigjobs Active Member

    Jun 4, 2005
    686
    60
    how to get free points - get someone else (employer/client) to pay for the airfare. keep the points for your own use.
     
  13. ruthabelle

    ruthabelle Newbie

    Jul 28, 2005
    1
    0
    What betting agencies do you use that allow you to withdraw your money for free?
     
  14. I agree that there is an economic cost in that you are loosing potential income - with ING Direct etc al you can get 5.6% or more with no minimum period (these are at call accounts not term deposits) so they are still available at short notice.

    You could just keep the money in a Woolworth's EzyAction cheque account and get 1 point per $10 of monthly minimum (for $1000 to $3000) - interest rate is still aweful compared to ING but still good for a cheque account.
     
  15. hoges

    hoges Junior Member

    Aug 9, 2005
    11
    0
    A little OT, but still in the spirit of the thread:

    My uncle is planning on making an international trip later on this year, most like to LHR. The thing is i have the same name first and last name as he does (middle names are different). I dont remember putting my middle name on the QFF application, so my question is; could i use my QFF number with his booking, seeing as how we have the same name? it would be very handy if i could, as there would be a boatload of points and SC's for me :)
     
  16. QF WP

    Moderator

    Jun 20, 2002
    14,242
    5,926
    Brisbane
    Flight Map:
    View my flight map
    Twitter:
    Facebook:
    Linkedin:
    Why wouldn't your uncle be taking his own FF points and SC's??

    But if you score his, well, good luck to you (and if he doesn't mind).
     
  17. hoges

    hoges Junior Member

    Aug 9, 2005
    11
    0
    well he isnt a member of QFF, and probly never will be, they dont fly very much at all, in fact this may be the first time he has ever flown! So your middle name is not used for QFF membership?
     
  18. QF WP

    Moderator

    Jun 20, 2002
    14,242
    5,926
    Brisbane
    Flight Map:
    View my flight map
    Twitter:
    Facebook:
    Linkedin:
    It does depend on whether you put your middle name on the QFF form and whether it shows on your tickets/BP's...my full name was put on my form and my midial initial is shown on my QFF card.

    Then you might get lucky...but if you get caught (say, they look at your DOB in the QFF system and know that he isn't you when matched againat his passport), then expect your membership to be cancelled, as they have the right under the T&C's:

    Section 8: Suspension or Termination of Membership

    in particular:

    8.1 If in Qantas' reasonable opinion a Member has committed a material breach of any of the Terms and Conditions or has failed to pay any money owed to Qantas by the due date, whether intentionally or otherwise, then Qantas may, at its sole discretion and without any liability, do any one or more of the following:

    (a) suspend or terminate the Member's Membership and/or the right of the Member to use the Card;
    (b) reverse or cancel the Member's Points or any part thereof; or
    (c) cancel or refuse to honour any Awards (including ticketed Award Flights), Benefits or both, that have been redeemed by or provided to the Member.

    8.2 In the event of suspension or termination of Membership or cancellation of any Points, Awards or Benefits under clause 8.1 subject to applicable laws, Qantas will not be liable for any loss or damage whatsoever suffered by any person as a result of such suspension, termination or cancellation.
     
  19. hoges

    hoges Junior Member

    Aug 9, 2005
    11
    0
    hmmmm im scared :shock: I guess i better just stick to the usual way of getting points. bugger.
     
Loading...

Share This Page