RewardPay Alternatives

[daft009]

The pay reward points are not really worth it IMO but you don't have to go for them

 

[Luciana Lanza]

I've edited my initial reply because I was going off the 1.5c per payrewards point (3c per QFF) calc but I don't think that's accurate, the public rate on their site is 1.8% for 2 payrewards points per dollar (effectively a 1.8c acquisition rate for QFF)

Sounds like your offer was 1.5c per QFF point? That can work, it's not out of the question, especially if it's for business expenses and potentially tax deductible. But you could also get 1.5cpp through other means. I'd only consider it for business expenses, personally.

If your offer is to buy at the 1.8c published pay.com.au rate and especially if it requires some sort of subscription on top, I'd be walking away

Thank you…. That’s what I thought. I’m just wondering why their business model works at all. It seems like they expect people not to do their maths because it’s really not at all good value!

 

[Franko Costa]

Has anyone negotiated a lower amex rate with Payment Logic?

 

[Kimster]

The recent Amex devalue to airlines offers some sweet spots for pay.com. Notably, if you use it with a combination of Visa/Master + Pay.com fee to pay an expense in comparison to just using Amex. For Ex: $10,000 spend with amex at 1.9% will yield 22,500 points converting to 11,250 QF or VA for $190 in fees. However, using it with a Mastercard (at 0.8% rate yielding 1ppd eard ) + Pay.com fee (1%) will result in 1.8% fee and a point earn of 15000 points and similarly with Visa (1% fee with 1ppd earn+ 1% pay.com fee) a 15,000 points earn with $200 in fee Note: Without considering GST

Quite a few of us have the premium sub at pay.com.au for free due to total spend on the platform- so this works best for this subset of people. Yes, Amex is unlimited earn - but most of Visa/Mastercard these days have a cap on points earn every month - so this mix and match will work well for some scenarios while using pay.com

in addition, pay.com has some unique redemption partners - like Aeroplan etc and has quite a few ongoing conversion bonus offers (to VA, Qantas etc.. - similar to autosweep options in some cards) - which would make this attractive for few others.

For those who are able to claim the fees from CC and pay.com as a tax deduction - the value is there to be had.

 

[Luciana Lanza]

The recent Amex devalue to airlines offers some sweet spots for pay.com. Notably, if you use it with a combination of Visa/Master + Pay.com fee to pay an expense in comparison to just using Amex. For Ex: $10,000 spend with amex at 1.9% will yield 22,500 points converting to 11,250 QF or VA for $190 in fees. However, using it with a Mastercard (at 0.8% rate yielding 1ppd eard ) + Pay.com fee (1%) will result in 1.8% fee and a point earn of 15000 points and similarly with Visa (1% fee with 1ppd earn+ 1% pay.com fee) a 15,000 points earn with $200 in fee Note: Without considering GST

Quite a few of us have the premium sub at pay.com.au for free due to total spend on the platform- so this works best for this subset of people. Yes, Amex is unlimited earn - but most of Visa/Mastercard these days have a cap on points earn every month - so this mix and match will work well for some scenarios while using pay.com

in addition, pay.com has some unique redemption partners - like Aeroplan etc and has quite a few ongoing conversion bonus offers (to VA, Qantas etc.. - similar to autosweep options in some cards) - which would make this attractive for few others.

For those who are able to claim the fees from CC and pay.com as a tax deduction - the value is there to be had.

I think I am missing something .....how is spending $180 (mastercard) 0r $200 (visa) for 15,000 points better than spending $190 (amex) for 22,500 points. Where is the sweet spot?? It seems to me that Pay.com.au is a business that preys on people who have dubious math and are happy to pay more for points than they are worth. Recently AFF valued Qantas and Virgin points at 1.6 and 1.7 cents respectively....this maths only works if you meant 15,000 QFF or velocity points but it seems you meant pay rewards which need then to be divided by 2 hence, making it very poor value. I would dearly like to be corrected, so I can use this sweet spot......

 

[Kimster]

I think I am missing something .....how is spending $180 (mastercard) 0r $200 (visa) for 15,000 points better than spending $190 (amex) for 22,500 points. Where is the sweet spot?? It seems to me that Pay.com.au is a business that preys on people who have dubious math and are happy to pay more for points than they are worth. Recently AFF valued Qantas and Virgin points at 1.6 and 1.7 cents respectively....this maths only works if you meant 15,000 QFF or velocity points but it seems you meant pay rewards which need then to be divided by 2 hence, making it very poor value. I would dearly like to be corrected, so I can use this sweet spot......

It is indeed 15,000 VA or QA points when using pay rewards