Bonus points offers by activating and loading on Qantas cash and Velocity global wallet

tqf8h on 17/09/2014 - 00:15
Last edited 17/09/2014 - 00:17

I have both of these cards from the qantas and virgin frequent flyer programs, but never used or activated them due to the high fees that they had. During this month I received offers via email from both programs of bonus points for activating and loading money onto the cards.

Velocity offer: activate and load $100 by 25 September to receive 500 velocity points

Qantas offer: 1. activate and load AU$50 by 25 September to receive 500 QFF points OR
2. activate and load AU$50 equivalent directly in foreign currency to receive 1000 QFF points

I have checked both programs and it seems that most of the fees have since been removed
http://www.velocityfrequentflyer.com/content/ProgramBenefits…
http://www.qantascash.com/why-qantas-cash/fees-and-charges/

There is a bit at the bottom of the qantas t&cs that I am unsure about

Access and Qantas earn foreign exchange revenue from Qantas Cash transactions. Access receives a processing fee from domestic Qantas Cash "point of sale" transactions. Qantas receives revenue generated by Qantas Cash transactions based on interchange fees paid to the Issuer, deposits held by the Issuer, cardholder fee and certain rebates and incentives from MasterCard Asia/Pacific Pte Ltd.

Does this mean I will be charged the processing fee for domestic purchases or is that just the interchange fee between the merchant and banks?

So if I load the money onto the card, and spend it domestically within the year, then will I get the bonus points and also not be charged any fees? If so I will find my cards and do both deals.

Also, did many other people receive these emails? Not sure if it is targeted.

Financial

Comments

  • coolsteps on 17/09/2014 - 00:36

    i too wonder if u get charged a commission or other fees for o/s purchases?

  • Crazy Diamond on 17/09/2014 - 07:37

    When I received my velocity card recently (4-5 weeks ago) before activating I too searched through all their fees. Came across one sneaky one which you may want to check whether it still exists - a monthly "inactivity fee" of something like $5 per month, which kicks in after a card has initially been activated and if it then remains inactive for 12 months. So if you're doing a one off to get some points, make sure you deactivate the card within 12 months after that (or keep doing semi regular load and spends)

    • tqf8h on 17/09/2014 - 12:38

      Thanks for that. Definitely one to look out for. I always thought that the inactivity fee was only charged if you had money remaining on the card, so I guess i will have to deactivate after spending the month. I will take up both offers and spend the loaded anounts asap.

  • Crazy Diamond on 17/09/2014 - 07:40

    Spry, just saw in the link you posted they mention the inactivity fee! And now only $1 per month - but still one to look out for (esp as fees usually only go up)

  • [Deactivated] on 17/09/2014 - 09:31

    The Qantas offer sounds like it is targeted. These offers appear from time to time.

    On the Qantas card there is no fee per transaction.

    I don't really understand foreign currency conversions and transactions. There is some sort of fee based into the conversion but it's about the same as other banks and cards for the same type of service.

  • [Deactivated] on 17/09/2014 - 09:32

    I think Qantas have gotten rid of the inactivity fee. I don't know about Velocity as I don't have that card.

  • jackofspade on 17/09/2014 - 13:20

    I received the email but the offer is not as good as yours.

    • Activate and load at least AU$50 and receive 250 Qantas Points or
    • Activate and load at least AU$50 equivalent directly in foreign currency and receive 500 Qantas Points
    • txb on 18/09/2014 - 17:31

      Myself and a family member both got different amount too. I have a small kitty accumulated and they offered 250. The family member had a few pts and got offered 500 like OP.

  • tqf8h on 18/09/2014 - 00:45

    Both cards allow loading via Bpay. Anybody tried bpaying by credit card and is it treated as cash advance?

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