Reward Credit Cards - Comparing Redemption Rates for Gift Cards

ShortyX on 08/11/2021 - 11:59
Last edited 08/11/2021 - 12:52

Is there site that shows the redemption rates for gift cards from credit card's rewards stores?

We don't fly much so we've been using the Coles Rewards MC. With flybuys, it automatically redeems 2,000 points for $10 after scanning it at Coles (so 1 point is worth $0.005).

After YNAB's price increase, I want to try Toshl with automatic bank syncing but it only does the major players, eg CBA, NAB, Westpac, ANZ, St George, Bankwest, ING, etc. I'd like to know if there is a similar credit card from the major players that gives a similar cash/gift card return to the Coles MC.

Financial Credit Card

Comments

  • coffeeinmyveins on 08/11/2021 - 12:28
    +2

    (so 1 point is worth $0.50).

    What

    1 point is worth $0.005

    Also if you're looking at flybuys/woolies rewards, ignore the points you get on each shop, they're worthless. you really only get the benefit of these programs when you do the "Spend $120 and get 6000 points" type of promos they run or the "500 points for this item".

    • ShortyX on 08/11/2021 - 12:51

      1 point is worth $0.005

      Thanks… my brain isn't working on a Monday morning. Meant to say 0.5c.

      Edited original post.

      Also if you're looking at flybuys/woolies rewards, ignore the points you get on each shop, they're worthless. you really only get the benefit of these programs when you do the "Spend $120 and get 6000 points" type of promos they run or the "500 points for this item".

      True. I suppose we can still get the flybuys points at Coles ($1 = 1 point) no matter which card we use.

      Do you know if the redemption rate of 1 point for 0.5c is standard across all the reward stores?

      • avoidfullprice on 08/11/2021 - 13:00

        Do you know if the redemption rate of 1 point for 0.5c is standard across all the reward stores?

        Not always on Qantas or Velocity store. Some higher some lower depending on the GC value… hence your OP.

  • USER DC on 08/11/2021 - 13:09

    This is exactly why i considered HSBC's 2% CB because 2 cent return IN CASH straight after purchase is pretty decent (ALTHOUGH Not as good as signup bonuses from CC). But as they didn't correct their mistake once because of their system's glitch (not my fault), I left them.

    Always look at how much return in % can you get instead of how many rewards, can X points give you.

    But best offer i think in terms of % is AMMEX CASHBACK CC 5% for 3 months

    • ShortyX on 08/11/2021 - 14:01

      Always look at how much return in % can you get instead of how many rewards, can X points give you.

      Thanks - it seems easy to compare point collection data but harder to compare point redemption data.

  • ShortyX on 08/11/2021 - 14:10

    CBA Ultimate Awards looks pretty good:

    • Redemption rate is 0.48c for Coles gift card
    • No fee if spending $2,500/month
    • No international transaction fees
    • International travel insurance included

    Downside is 2 points for supermarkets, department stores, petrol stations and 1 point for everything else.

  • jace88 on 08/11/2021 - 15:10

    If you're willing to put in the effort switching/moving DDs/etc then you could always play the point-hunter approach on OzBargain. I know some people who have actively done this to collect Qantas points from the various financial institutions through sign up bonuses/etc. It is a bit of a hassle though.

  • demiurge on 09/11/2021 - 21:08

    Earn rate is irrelevant compared to the signup bonuses.

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