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Qantas Pay: up to 50,000 Bonus Qantas Points by Loading Foreign Currency @ Qantas Money

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Qantas Pay: up to 50,000 Bonus Qantas Points by Loading Foreign Currency @ Qantas Money
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GeneralKeen on 30/05/2024 - 13:42 qantasmoney.com (201 clicks)
Last edited 14/07/2024 - 17:39 by 2 other users

Load foreign currency now to earn up to 50,000 bonus Qantas Points.13 Offer ends 4 June

If I am reading this right, it seems to be a sweet deal since you just need to load $20000 (max) to get 50000 Qantas points? There is no mention we need to spend the money but there might be transaction fees and losses in foreign exchange.

From the website

Here’s how it works: Earn 1 Qantas Point for every AU$1 equivalent of foreign currency you load onto your card (up to $1,000); then 3 points for every AU$1 equivalent thereafter (to a maximum of 50,000 points) on your single highest load.

— okay, from the comments it seems like a bad deal —

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closed Comments

  • gembel on 30/05/2024 - 13:44

    can you convert it back to AUD after getting the points?

    • abs898 on 30/05/2024 - 13:46
      +11

      Their rates are so shit that it's not even worth it

  • samehada on 30/05/2024 - 13:52
    +23

    It is cr*p deal, their fx mark up is ridiculous
    i.e 20k aud you can only get $12619 when the xe rate is $13217usd.

    The markup is $600usd (~$900UD), if you have to convert this back to AUD you will lose double this due to 2x mark up ($1800). There are better way to earn 50k QF points than having to lose $1800

    Who on earth will use their sh*tty service.

    • evgpek on 30/05/2024 - 14:38
      +1

      Each point will cost you at least 2.7 cents - no deal

    • Muselibar on 30/05/2024 - 15:03
      +1

      Suppose even good marketing can't compete with the math!

    • His_Holiness on 30/05/2024 - 15:34

      Thank you for doing the math.

    • bobwokeup on 29/06/2024 - 11:42

      Damn thanks for that. I’ve always been curious about whether it’s worth it and now I know!

  • evgpek on 30/05/2024 - 13:52
    +3

    You lose 572$ on converting 17k to USD compared to Revolut
    Same if you convert back

    • samehada on 30/05/2024 - 14:00
      +1

      572USD is $865AUD, and double this for convert it back to AUD.

  • Ashburtonian on 30/05/2024 - 14:09
    +3

    I've never understood who buys these shitty products, get an Up! Card, I travel overseas 10 times a year, there is no better value, the MasterCard rate is good, no fees, works everywhere, great app… All these FX preload cards, the rate is the product and you are paying for that!

    • nightelves on 30/05/2024 - 14:12

      Do you have to load the card first with Up?

      • SirFrankGrimes on 30/05/2024 - 14:41
        +1

        Problem is, you can't lock in a rate with Up. For example, I'd be keen to put a few thousand AUD worth on YEN onto a card because the exchange rate is so good.

        Also, Up don't have the best conversion rates. I speak from experience having just come back from Japan and used my Up and NAB Debit cards at the same time to compare. The difference is small but noticeable.

        • nightelves on 30/05/2024 - 15:06
          +2

          Think Wise you can lock in the rates I think. I’m also looking to lock in Yen as well.

          • Ashburtonian on 30/05/2024 - 16:44

            @nightelves: Wise is really good, just not real time on the transfers from another Aussie account. Up is NPP so you can literally fund it in seconds.

            I get the rate lock, but ask how much are you really saving? And is it worth the fx fees? Even if you plan spend $10k and swing of 2% on currency is $200… And it can easily move both ways 😝

        • Ashburtonian on 30/05/2024 - 16:42

          NAB debit card has a transaction fee?

    • bobwokeup on 29/06/2024 - 11:41

      Yep agreed it is the best for travelling. I’ve also just got the new NAB rewards signature card as there are no international fees and you get reward points. So I’ll use the Up card to withdraw cash plus as a backup and use the rewards card for all purchases.

  • GeneralKeen on 30/05/2024 - 14:12

    Okay, seems like it's a crap deal! Should I unpublish it or keep it opens for awareness?

    • jv on 30/05/2024 - 14:44
      +3

      Should I unpublish it

      No, leave it here for a good laugh…

      I'm enjoying all the comments.

  • Rifts on 30/05/2024 - 14:14
    +1

    So this is backed by Airwallex. Who I use for my business. I set up Qantas (when they first did this) and then they changed it, so now the increase in conversion and sending costs is insanely high. Ive not used it once. Airwallex even tell people not to use it as its just highway robbery.

  • Muselibar on 30/05/2024 - 15:04

    Gotta remember, not everyone is an OzBargainer!

  • clover on 30/05/2024 - 15:15
    +2

    This is terrible. I commented so i can vote it down to offset the positive votes (who upvoted this????)

    • sinnerman on 30/05/2024 - 15:37
      +1

      You're an inspiration

  • DingoBlue on 30/05/2024 - 15:29
    +1

    Ah yes our trustworthy flag carrier.

  • Ginger1 on 30/05/2024 - 16:07

    shite deal. Insane how expensive it is

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