In terms of credit card points in this climate, which one do you prefer?
If you use it to buy items, is the points per dollar worth better at your bank (please mention which bank) or Qantas Store?
Qantas or Bank's Awards Points
Frankensnore on 06/10/2020 - 14:06
Last edited 06/10/2020 - 14:07
Last edited 06/10/2020 - 14:07
Poll Options
- 30Frequent Flyer (Qantas, etc)
- 2Bank's Points
Comments
Let's assume we can't fly anywhere for a long long time. Therefore the points are only redeemable for products such as gift cards, phones, dyson, etc.
Do you still prefer FF?
Personally I'd say yes.
Worst case I can still redeem for gift cards like you said, granted at a slightly lower rate than with bank reward redemptions.
There's more potential upside in FF points IMO
I see, so points per dollar on bank's rewards is usually higher for products than at Qantas Store.
But for flying, it is better at FF.
I reckon there is no Velocity anymore since Virgin is bankrupt?
Qantas Frequent flyer points can be earned across all banks and you won't be tethered to a single scheme.
That's my 2 cents
Bank's FF points is usually bad.
For example in current promotion, Qantas Premier Platinum offered 100k bonus points which is about $500+ of Myer Gift Card at $199 annual fee (usually $299)
Commbank offered 100k Award Points which is converts to 40k QFF points at $379 annual fee.If you buy Myer Gift card directly from the Award Points, you get exactly $500.
You will get almost the same value ($1 spend equals a half-cent reward) from using either Qantas points to buy gift cards or items, or using a Bank's awards points.
The only reason for going for Bank's points is if there's a special sign-up deal, or some specific item or gift card that's unavailable or much better value on Qantas' reward shop, or if you get an annual fee saving on the Bank's award card.
Depending on what flights you redeem you could potentially get a few cents worth per Qantas point.
Bank points however tend to have a fixed exchange rate so there's very little opportunity to maximise value out of them.
QFF still better even though you probably won't be able to redeem for the flights you want at the moment.
Not much going around at the moment with cards for good points and low annual fees (not Amex)
All depends on what you want to use your points on.
Frequent flyer programs obviously have the best bang for buck redemption value if you want flights.
Bank rewards programs tend to be pretty mediocre all round, but have pockets of value in cash back and gift cards.
But my vote is strongly in favour for frequent flyer programs.