Bankwest is offering 0.4 QFF points for every $100 sitting in your transaction account, daily.
I'm thinking this could be an alternative to taxable "high interest" savings accounts.
Sorry ATO.
http://www.bankwest.com.au/personal/everyday-accounts/lp/ban…
Oh you did not just do the gift card thing!!
But you're right, "high interest" accounts still win.
e.g. $100k pa = $3.6k ([email protected]%) vs 146k QFF points
Well we need to think about what to spend the points on.
Gift cards are a relatively poor way to spend the QFF points - so if you can find something with a higher redemption rate, or if you get taxed at a high marginal rate, then maybe earning QFF points makes sense. Many other people would be better off with a high interest rate account.
There are two other things to watch out for: i) Qantas can change the redemption rate at any time, which affect the value of your QFF points ii) you don't get the benefits of compound interest.
what do u expect him to do… calculate it at a business class to first class upgrade during peak period?
This info is about a year old OP. A simple search would have saved you the trouble.
Thanks :-)
5 Qantas Points per eligible purchase completed with your Debit MasterCard
12 Qantas Points per month per $100 balance in your account
5 Qantas Points every time you withdraw cash from an overseas ATM**
5 points per transaction NOT 5 points for $
Not very much points really
Especially for OS transactions where they charge you 2.95% of the transaction amount say $200 = $5.90 which gives you 5 FFP
It's the points per balance I was referring to in this thread, not the transaction points.
I agree with you.
I was just pointing out that the other points being offered is per transaction not a dollar amount.
Something others may not realise, as usually points like the balance points you refer to, are based on dollar amounts.
Qantas also has this but better:
https://www.qantascu.com.au/savings-accounts-qantas-points-s…
Edit - Actually maybe not.. says per annum.
I am one of those people who could not care less about upgrades, business class etc. Happy to fly with Air Asia, Cebu Pacific and the like cheapest carriers and cover my cost of groceries with the gift cards. No better way to use the points for me. And most of my points were made from opening then cancelling credit cards anyway.
To put this into perspective. You can redeem an $100 gift voucher for 15,000 QFF points. This means the 144 QFF point you earn from Bankwest from the $100 deposit is equivalent to a 0.96% p.a. return if you choose to redeem a gift voucher.