From 1 November 2021 any balances over $50,000 will no longer earn Qantas Points. You can still earn 0.3 Qantas Points per $100 each day for any balance under this cap.
Wonder if I can open multiple transaction accounts to spread balance and link them all to the same QFF account.
Got an email from Bankwest, also they updated the website.
https://www.bankwest.com.au/personal/bank-and-save/bank-acco…
Yikes - this ain't good. This was a big earner for me. Will move my cash holdings elsewhere.
Thanks for the heads up….. Darn was a good points earner while it lasted.
Heres the calculator for interest and qantas points you will get
Not anywhere as good as the BW offer….
$200k in BW was about 18k points a month vs 7k points with this company.
you get $76 a month as well
Oh ok, missed that bit.. Hmmm ok that makes it more tempting!
I’m getting 1 qantas point per $10 with boq specialist everyday plus account, but it’s not available to everyone i think. Still hoping one day we can travel again, and that qantas wont do another devaluation of points.
Who keeps more than $50k lying around in a bank account?
People who want cash on hand while earning better than basic bank saver interest rates.
ING saver earns 1.35%, on 50k it's $675 a year
Or you can earn ~55k qantas points a year which is worth about a grand. Worth more if you utilise the points well, like overseas business class flights (not that anyone can do that right now).
And remember the qantas points are not taxed, unlike interest earned.
Yeah this killed the deal I was enjoying a free hotel stay every 1-2 months
Are banks giving out points instead of interest on deposits?
Imagine people waking up every day and opening their phones to see something that they deserve.
https://files.ozbargain.com.au/upload/393946/91009/screensho…
You get 20000 points a month on 200K., its targeted
Only doctors, vets, dentists and accounts can bank with them :(
This hurts me that I can't get on this deal.
If you invest 200000 in La Trobe 12 month term deposit you get 50000 Qantas FF pointsi n advance plus 4.35 per month interest. I would have done it but I found one with capital growth as well
plus 4.35 per month interest.
A 12 Month Term Account 4.35%* p.a isn't the same as 4.35% per month interest.
The monthly interest rate is 0.3625% or $725 p/m.
I meant interest is paid monthly
An investment in the Credit Fund is not a bank deposit, and investors risk losing some or all of their principal investment.
Yes they explain that, and its clear it not a bank because the interest is much higher. I would do it, but found something better for me, so far so good
250000 is 62500 points, plus monthly interest
La Trobe money is put into pooled mortgages so the risk is spread over many property developments, not just one
High fees and low returns. No thanks.
4.35 is not a low return
It's low when inflation is 3.8% 1Y. That is a 0.55% 1Y RoR.
heres a way to get 4.60 but I would check that the money is paid straight to La Trobe, not via 3rd party.
https://www.100percentinvesting.com.au/la-trobe-australian-c…
Really - where did you see this? If this is the case, I'm dropping the account.