I need some advice on whether it is worth it to transfer all my Commbank credit card Award points to Qantas frequent flyer. I have 700,000 Awards points which is equivalent to 280,000 QFF points. With 700K Award points I can also exchange $3,300 worth of giftcards. There's a $30 transfer fee to convert the Commbank Award points to QFF.
280,000 is a return business class ticket to Europe, which tbh is not that hard to find. Was able to get something with 3 months notice.
Worth about $12,000
I'm pretty sure that you can only earn QFF points from CommBank while you're signed up to their $30/yr QFF scheme. In other words, I don't think that you can pay the $30 after you've earned them in order to convert any points you have already earned.
Let me know if I'm wrong though! Because I have 100k points that I'd much prefer to have as Qantas points as well.
You are correct. You cannot pay the fee today and retrospectively transfer the points to QFF. You can start today from scratch with the auto monthly transfer once the $30 fee is paid.
Best option is to transfer to velocity frequent flyer but transfer rate depends on type of cba card held. 2:1 (Diamond & Platinum cards)
2.5:1 (Gold & Awards cards)
You could also wait for velocity bonus offers for transfers every May and November but it’s not guaranteed for CBa transfers. In May 2019 they offered an extra 25% bonus for CBA awards transfers uncapped. First time in over 18 months.
In May 2019 they offered an extra 25% bonus for CBA awards transfers uncapped. First time in over 18 months.
Didn't realise they did this! Interesting..
I called up the customer service and was told I could opt in to earn QFF points with CommBank card for $30/yr. I can then transfer all the Award points to QFF on a rate of 2.5 to 1 QFF. After that's been done I can opt out again.
Unfortunately the agent has provided you incorrect information.
This is from their T&C’s:
It is important to note that any CommBank Awards points earned prior to the date of your opt-in cannot be transferred to your Qantas Frequent Flyer account.
Velocity would be your best option for travel, and then either transfer to Singapore airlines or redeem on Singapore, Etihad, delta, Hawaiian.
Do you know if this is still the case? Commbank staff I called are telling me I can, and I can’t find the info you posted here in their current terms and conditions…
I have 700,000 Awards points which is equivalent to 280,000 QFF points. With 700K Award points I can also exchange $3,300 worth of giftcards.
I would go with the giftcards, with the recent devaluation of QFF points, I wouldn't price them any higher than 1.2 - 1.3c per point (you can find people selling for that much already so if anything it's a high estimate. 280,000 points is worth ~$3,600 at the very maximum. I'd take the giftcards given they're much closer to cash and can be guaranteed to be redeemable at their face value (unlike QFF points).
Thanks for all the advices!
What's the best thing to transfer Commbank rewards points to? Coles gift cards?
For any that may not be aware, the option to rebate credit card annual fees through points redemption (at a better rate than cashback) was removed from the program at some point.
Cashback is currently priced at 283 points for $1.
Commbank sure know how to screw their customers, i went with them to get the loan settled quickly, but i'll be going with an online bank once the fixed period ends.
CC card for points value is terrible. plus hearing they screw you with existing commbank rewards is just disgusting
Just wondering if commbank let you transfer your existing commbank points to Qantas after you opted in? They are also telling me I can (400000 points) but say it will take until my billing cycle to transfer. They’ve taken the points out but now I’m concerned I might not get them??
Any updates if your points transferred to Qantas FF account successfully? I also have similar amount award points to be transferred, and read through their T&Cs and found no restrictions. Would be great to hear your good news.
No you can’t. Only the one you earn after you opt in. Best option is to transfer to velocity at the moment with the 15% transfer bonus and use on Virgin, Singapore + partners, Qatar, delta etc
Transfer and get rid of this card. It's one of the worst there is for earning points.