VISA gift cards plus Woolworths points promotion - worth it?

damnable on 25/03/2019 - 22:30

Hi Folks,
I'm just wondering if someone has already thought about the cost vs benefit of the upcoming Woolworths promotion for VISA gift cards starting from Wednesday, or better yet, done some analysis.

The promotion is purchase a $100 VISA gift card for $105.95 and get 1000 Woolworths points.

2000 Woolworths points can be redeemed for $10 off Woolies purchases.

I've seen some discussion around buying these with a credit card for the rewards points, especially with an Amex card as the Visa gift card will be accepted at more places.

Without doing any calculations it looks like there may be some overall benefit, but possibly not a huge amount, but I'd appreciate the thoughts of other OzBargaineers.

Financial Gift Card

Related Stores

Woolworths
Woolworths
Only1 Gift Card
Only1 Gift Card

Comments

  • Diji1 on 25/03/2019 - 22:41
    -1

    So your making $4.05 that can only be spent at Woolworths …

    I think the problem with electronic payments generally is that they change purchasing decisions not in your favour. And the problem with loyalty programs specifically is that the user loses money due to tracking -> marketing and never using non-electronic means of payment.

  • Trung on 25/03/2019 - 22:51
    +1

    I don't think it's worth it.

    You spend $105.95 to get a $100 Visa gift card and $5 worth of points.
    So you'll lose 95cents.

    Whatever points you get from buying the card could still be earned by paying for $100 worth of stuff that you otherwise be paying using the Visa gift card anyway.

    edit to add:

    Just realised some places charge more surcharge on Amex vs Visa.
    So it'll only be worth it if you're spending the Visa gift card at a place where Amex surcharge is more than 0.95% more.

    • JIMB0 on 26/03/2019 - 06:30
      +4

      Plus you'll lose another 25c when buying groceries with the $5 of points as you would have otherwise paid with a discounted wish card.

      • Neoika on 26/03/2019 - 22:38

        Unless one redeems the reward on another giftcard purchase to save 50c per $10 Woolies Dollars..

  • Mad Max on 25/03/2019 - 23:23
    +2

    It was good when you could buy them with ewish cards purchased with 5% discount. But no more…unless someone knows better.

    • cwongtech on 26/03/2019 - 01:14

      And you could still buy them when there was a no purchase fee too!
      $100 visa card paid with $100 egift (@5% off :D ), effectively $95 cash!

      Those were the days..

  • marquise on 26/03/2019 - 05:22
    -2

    The $10 off shop doesn't seem to work when you're buying prepaid visas (and potentially all gift cards). I've had 2 occasions now where it's failed. Even though you get asked if you want to redeem your $10 and say 'yes', it doesn't take $10 off.

    So this promo isn't worth it to me unless you have a lot of grocery shopping to offset against.

  • capslock on 26/03/2019 - 08:27

    If you use an Amex Platinum Edge you get 3 points per dollar (until 15 April). Assuming you already have a Visa card that earns 1 point per dollar then the benefit of this deal is you get an extra 2 points per dollar.

    You therefore get 200 Amex points per prepaid card at a cost of 95 cents. For points collectors that is a good deal but the average person is unlikely to need enough of these cards to generate/buy a meaningful amount of points. Not to mention the effort of buying these cards, spending them, checking balances, etc.

    Bottom line is it is a lot of effort for little gain. There are easier ways to earn points. It might still be a good deal though for people who are time rich and like the thrill of chasing points from every possible opportunity.

  • lilblank29 on 26/03/2019 - 19:59

    Only benefit if you are a team member or has family who work for woolies.
    I think they get 5% off on gift card.

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