QANTAS Frequent Flyer Points - cash out now?

Lbadg3rz on 16/03/2014 - 20:06

Hi,

Just wondering what everyone is doing with their points, given the circumstances with QANTAS at the moment.

Is it better to cash out all the points into gift cards now, in case it does go belly up?

Is the frequent flyer program separate to the QANTAS side in trouble, if so, wouldn't it at least drop in value if it goes to the bottom, given you wouldn't be able to use points on flights etc…?

I have a fair few points, and I would hate to loose them in future knowing I could have cashed out now and done something about it, yet I don't want to jump the gun in panic.

Does anyone have any experience with points regarding Ansett when they went under?

Where does everyone stand in this situation?

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Comments

  • expertreader on 16/03/2014 - 21:00

    I dont know about what happened with Ansett frequent flyer points but I have cashed out all of my 50k points… I wasnt going to upgrade a flight or buy a flight with qantas(due to it being expensive) so cashed out in woolworths gift cards…one months groceries for free-very happy wife….

  • roughana on 16/03/2014 - 21:54

    My wife lost a lot of Ansett points and is keen not to have that happen again. Ansett FF were considered unsecured creditors and got nothing.
    Thanks for the heads up about converting to gift cards.

    David Jones from 3500 pts for $25
    Big W from 3750 pts for $25
    JB HiFi from 3750 pts for $25
    Woolworths and Caltex Woolworths are 4000 pts for $25
    There are heaps of others including Harvey Norman, Myer etc

  • punk on 17/03/2014 - 08:38

    I don't have any issues keeping my points. I don't see qantas going the way of ansett.

    But if you're concerned, go for it :)

  • Skramit on 17/03/2014 - 09:44

    Cashing out QFF points to gift cards has always been poor value for money if you ever plan on flying again. 4000 points for $25 at Woolies would be fairly poor use generally speaking.

    16000 gets your return SYD-MEL-SYD flights. Loosely valued at $200 which would be more like $50 per 4000. Double the value.

    Or upgrade your international flight from Econ to Bus and you'll see good value for points.

    I wouldn't be storing hundreds of thousands of points for the next decade but to jump out of QFF today by using them for gift cards isn't brilliant value for points.

  • tonester on 17/03/2014 - 10:00

    Is the frequent flyer program separate to the QANTAS side in trouble

    qff is the most profitable part of qantas :)

    http://www.theage.com.au/money/frequent-flyers-give-qantas-a…
    https://www.businessspectator.com.au/article/2014/2/28/indus…

    Is it better to cash out all the points into gift cards now, in case it does go belly up?

    depends but probably not

    http://www.pointhacks.com.au/might-happen-qantas-sells-qanta…
    http://www.theage.com.au/executive-style/business-travel/blo…

    • voteoften on 18/03/2014 - 18:57

      Thanks for that. I have over 400,000 points and am undecided what to do.

    • roughana on 18/03/2014 - 20:10

      I think the best advice from the above is - keep what you can use within 3 months if the rules are changed.

  • Natt on 18/03/2014 - 20:25

    This

    http://www.ausbt.com.au/emirates-airbus-a380-business-class-…

    Booked in Auckland to Hobart business class for 36,000 points + tax

  • Baghern on 19/03/2014 - 08:50

    I was under the impression Qantas would more likely sell off FF part… then go belly up.

    Which would most likely mean a heavy reduction in what you can get in points eventually.

  • mini2 on 19/03/2014 - 13:08

    The points are slowly depreciating in value which is unfortunately and keep in mind despite QANTAS is in a bit of crap at the moment, check out how much cash they've got left in their arsenal…a fair bit.

    $2.4 bil according to Yahoo here - http://au.news.yahoo.com/a/21723645/

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