Qantas Cash Upto 10,000 Points

[Ansett]

Got this this morning and not sure I will take advantage of it.

 

[burmans]

The lack of commentary suggests everyone else was totally underwhelmed too!

 

[kcoulson]

It comes down to the competitiveness of the exchange rate.

 

[qiktune]

I was just about to post this same question.....

I guess 10000 points could be underwhelming for some but for someone just starting out it looks pretty damn righteous! I think I'll check exchange rates over the next couple of days and give it a shot......get myself in to "5 digit" points club :-/

 

[medhead]

Lets look at the cost to achieve the 10000 points with a hypothetical transfer in NZ$:

XE.com says A$1=NZ$1.079
Citibank plus (my alternative) would give me A$1=NZ$1.064 on my subjective guesstimate.
Qantas Cash website A$1=NZ$1.026

So A$5000 =
Qantas cash NZ$5130
Citibank NZ$5320

Cost NZ$190

Then say I actually use the NZ$, that's going to require withdraws from ATMs at NZ$2.50 per withdrawal. I don't know the transaction limit but lets say NZ$10 to NZ$20 total.

Otherwise, If I just want the money back then I'll have to convert to A$, with a 3% fee - A$150, then A$1.95 ATM withdrawal fee. Possibly requiring a few withdrawals due to withdrawal limits, that I can't find on the website.

Or likely it will be a combination of the above.

So $200-$400 to get 10000 points. 2 to 4 cents per point. If we get lambasted for spending 2 cents per point buying petrol, I can't see many putting their hands up on this one.

 

[qiktune]

Awesome, thanks for taking the time to explain it all medhead.....I'm a complete noob!

Using your example I'll be out of pocket say $400 to get those points. As someone who doesn't have a CC and whose only way of earning points are via fuel/shopping (Everyday Rewards ) or by actually flying I'm not (yet) sure to where I could fly for that little cost that would grab me that many points.

 

[medhead]

Awesome, thanks for taking the time to explain it all medhead.....I'm a complete noob!

Using your example I'll be out of pocket say $400 to get those points. As someone who doesn't have a CC and whose only way of earning points are via fuel/shopping (Everyday Rewards ) or by actually flying I'm not (yet) sure to where I could fly for that little cost that would grab me that many points.

No worries. The real trick with this offer is that you have to load in non-A$. So if you're going to spend in Australia in A$ the 3% conversion fee will apply.

I did forget the actual points earning for spending the money. Is that 1point per $2 in Australia?

Finally for points from flights you're probably right that you couldn't earn as much for $400. About the closest I can think of is maybe 5 or 6 thousand points for a return to Singapore which is sometimes on sale for about $650.

At the end of the day only you can determine the cost you're prepared to accept.

 

[AustraliaPoochie]

Yes, 99.9% of the time, its 1 point per $2 spent within Australia using QCC.
A lot of the cheaper "true" credit cards also now have that ratio. AMEX still has 1 point per $1 spent for a lot of their cards, though some very few places will not accept AMEX/Diners.
Very occasionally, I think I have had a bonus points, where I have got more, but this would appear as a separate line in the QF FF statement, and not mentioned in QCC.
Got an unexpected double points into my QF FF account, through QCC spent in month of Apr this year, nice touch.
Only down side about EDR is the $30 min spend, to start to earn QF FF points.
Like you, I also dont have any "true" credit cards, my other friend is my VGW card.

 

[mooingchicken]

Awesome, thanks for taking the time to explain it all medhead.....I'm a complete noob!

Using your example I'll be out of pocket say $400 to get those points. As someone who doesn't have a CC and whose only way of earning points are via fuel/shopping (Everyday Rewards ) or by actually flying I'm not (yet) sure to where I could fly for that little cost that would grab me that many points.

Unless you really really badly needed the points I wouldn't bother $400 is way to much for 10,000/15,000 points. Any reason why u cant get a credit card? you can get a lot more bonus points then 10 000 for free