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Qantas Points Saver- 400 Qantas Points for Every $1000 of Your Average Monthly Balance Per Annum

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Qantas Points Saver- 400 Qantas Points for Every $1000 of Your Average Monthly Balance Per Annum
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KangarooOz on 11/12/2013 - 00:41 qantascu.com.au (500 clicks)

" Not only will you receive a competitive interest rate on your savings, but you’ll also earn 400 Qantas Points1 for every $1,000 in your account." The current rate is 2.50%. In my opinion, it would not be too difficult to find a better rate but I believe the QFF point is tax-free. It may be more attractive to people who have a higher marginal tax rate.

With a balance of $49,000 that's an impressive 61,039 Qantas Points over 3 years2. What’s more, there’s no application fee and no minimum balance so you can start earning Qantas Points from your first dollar.

Financial Frequent Flyer Qantas Qantas Frequent Flyer Reward Points

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  • xiuhan83 on 11/12/2013 - 01:04
    +1

    Not a good deal. 400 points per annum is too slow.

  • hamza23 on 11/12/2013 - 01:13
    +9

    Thanks for the post, interesting deal to check out.

    $10000 @ 4.5% interest rate at say Ubank = $450 interest
    $10000 @ 2.5% interest rate at Qantas + 4000 QFF points = $250 interest + $25 worth of points = $275 interest ($25 tax free)

    Quite a big difference, the point earning ratio is too small to matter for any tax circumstance.

    • ctemby on 11/12/2013 - 01:28
      -2

      Agreed, and even though Qantas Staff Credit Union Ltd is backed by government guarantee, I would personally be avoiding putting any of my money with Qantas at the moment, given their current financial position:

      http://www.theaustralian.com.au/business/aviation/qantas-cre…

      • Bargain4U on 11/12/2013 - 01:32

        Unrelated to Qantas Airways Limited.

        • ctemby on 11/12/2013 - 01:56

          I understand what you mean, however if you accumulate 4000 QFF points as above (or 61,039 as per OP), then those points are with Qantas Airways Ltd at the moment. I wouldn't want to lose hundreds of thousands of points …. again. Remember Ansett?

        • [Deactivated] on 11/12/2013 - 02:19
          +1

          @ctemby @Bargain4U Even if Qantas doesn't go belly up like Ansett, there's a genuine risk they will devalue those QFF points sooner rather than later.

          QFF is already a pretty bad program by international standards, offering relatively poor value for redemptions, and it wouldn't surprise me if it gets even worse. Reducing their future liabilities by devaluing the billions of points out there would no doubt be pretty tempting to Qantas management given their current financial difficulties.

        • RockyRaccoon on 11/12/2013 - 05:45
          +2

          Reducing their future liabilities by devaluing the billions of points out there would no doubt be pretty tempting to Qantas management given their current financial difficulties.

          Stop being ridiculous. Even US Airlines who have done chapter elevens numerous times, avoided touching their frequent flyer programs, that would be the kiss of death to any future loyalty. The Frequent flyer program is a profitable part of Qantas business.

          Your points on its value compared to other programs maybe valid

          And most of this is really just off topic and may satisfy the Qantas haters who are mostly ideologists ever since it was sold by the Labor govt in 1992. They forget that boycotts etc just hurt the workers more than it helps, and that the overseas airline they now use, service their planes overseas with cheap labour.

          No matter who's FF points are being offered Hemza23 points out the real value of this deal. Which is not that good.

        • [Deactivated] on 11/12/2013 - 06:48
          +5

          Stop being ridiculous.

          Seriously? Devaluations are a common occurrence when it comes to loyalty or frequent flyer programs. You can't have much experience with such programs if you've never experienced a devaluation of miles or points before.

          Qantas have had major devaluations of their frequent flyer points before, particularly when they added hefty taxes and fuel surcharges to award redemptions back in 2006: http://www.australianfrequentflyer.com.au/community/qantas-f…

          Even US Airlines who have done chapter elevens numerous times, avoided touching their frequent flyer programs, that would be the kiss of death to any future loyalty.

          Devaluations happen all the time with the US airlines — perhaps more so than FF programs in other parts of the world — and there are plenty of examples just this year alone.

          United announced a major devaluation on November 1 of this year, by significantly increasing the miles needed to redeem many awards (some awards were 60% more expensive): http://www.welltraveledmile.com/the-rundown-on-uniteds-award…

          Delta followed a week later with a devaluation of their own: http://boardingarea.com/onemileatatime/2013/11/08/delta-deva…

          Delta had already announced a devaluation back in August: http://boardingarea.com/onemileatatime/2013/08/14/delta-skym…

          Southwest did a devaluation back in September: http://boardingarea.com/viewfromthewing/2013/09/23/todays-so…

          Another recent example when it comes to loyalty programs is Hilton, who are just about to go public. Realising that guest loyalty liability (the value of unused points sitting on their books) stood at US$796 million, they announced a devaluation to make themselves more attractive to potential investors.

          The list goes on, but hopefully you get the point.

          the Qantas haters

          I'm a QFF Platinum One; I fly with them frequently and I'm certainly not a Qantas hater.

        • RockyRaccoon on 11/12/2013 - 07:01
          +1

          I have misread your response, seeing as a response to ctemby's comments about Qantas going belly up and the points going with it. (Not the same as devaluing)

          Apologies for this misreading. I guess I get a little tired of the Qantas hate, when most of it comes from those who are thinking they can change the world by somehow having it and workers protected by government money, but at the same time stating they will fly with another overseas airline.

          My last few international flights with them have been quite pleasant, But I digress.

          Cheers

        • abc on 11/12/2013 - 09:39

          the QFF program is the most valuable asset of Qantas. I doubt they would do anything to jeopardise it.

          In fact at one point they were considering floating QFF off into its own entity.

  • pmupsinep on 11/12/2013 - 05:28
    +2

    Gimmick and waste of time. No bargain.

  • tomclancy on 11/12/2013 - 08:30

    Cash is king

  • JohnHowardsEyebrows on 11/12/2013 - 10:03
    +4

    Better off earning decent interest, then purchasing the points.

  • danielh on 11/12/2013 - 20:46

    Well. Better off leaving my cash in the old offset account.

    They would have to make the points increase pretty enticing to get anyone with a mortgage to think of switching over (unless you don't have an offset account facility that is).

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