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Depends on how many points you have - I get around 500K points per annum just from credit cards, and about another 60K points for actual flights. I don't actually have the time - at the moment - to use the points, which means my actual points balance is well up over the million mark.
If I was to drop back below Gold, I would consider using points for QC membership. I would have to weigh it up with prospective travel first though.
Credit cards which earn frequent flyer points is a popular way to earn frequent flyer points. You can receive thousands of points on everyday spend. And, many of these cards offer generous signup bonuses! Compare to find the credit card that best suits your needs.