Hi, just wondering if the 20% discount on points required to redeem Everyday WISH gift cards on the Qantas store (until 25th Feb) is a 'good' deal or if the sometimes do better? i.e. $500 gift card for 87240 pts
I don't have many points and we don't use them for upgrades/tickets, so I want to maximise my points for gift cards. Also don't need any of their wine, suitcases etc.
Does it make sense to buy now or do they, at times, have discounts on points redemptions in excess of 20%.
Thanks
yeah good time
i.e. $500 gift card for 87240 pts
So, a redemption value of about 0.56¢ per point, factoring in that you can typically get a 3% discount on Wish cards anyway. That strikes me as pretty poor (my own benchmark is 1.5¢ or better). Have you worked out what the points actually cost you, and how much you're ahead (or maybe even behind) by?
I don't have many points and we don't use them for upgrades/tickets, so I want to maximise my points for gift cards.
Perhaps a card that earns Qantas points isn't really the right card for you.
Perhaps it is t the right card. But what card would you go for instead of a card that accumulates Qantas or virgin cards?
We spend our money at wollies, at gas stations, insurance, and the occasional holiday. However, I dont fly a lot. So going for Qantas points &wollies reward points converted to Qantas points so far has been the way to go I would get $500 or so of wish gift cards out of my points per year which is nice.
Is there anything else you would suggest?? I really don't care about brands, amex/MasterCard/visa. Whatever gets me the best $/point ratio for someone who just wants a few % of his weekly shop?!?!?
So for every $10 of woolworths rewards you earn, instead of just redeeming them for $10 of stuff from woolies (or petrol at EG ampol), you convert them to 1000 qantas points which you now want to exchange to $5.73 of wish gift card (which you can normally buy for $5.56)??
Hmm
If 2000 points equal $10 (regular conversion), then;using the same ratio
87240 points equal $436.2
However, currently I can get a $500 giftcard for 87240 points. Hence I am $64 better off. Am I missing something here?
Please clarify, I really don't want to throw more money at wollies than I have to!
@surfingedge: (profanity). I just changed to $10 off for every 2000 points. I have only been doing this for the last 8 or so years :(
I assume there is no way of changing back my Qantas points to reward points?
@surfingedge: OK wo in light of this major f up. Going for he 20% discount for Qantas points for the a wollies voucher is as good as it gets?
@Qwer: Probably but someone else can chime in. You can transfer Qantas points to "family members" for free, it's obviously against the terms to do this for money, so if you do want to sell them just be careful.
Only collect Qantas points if you want to use them on flights.
If it was as easy as you mistakenly thought, everyone would be doing it!
In fact this is exactly what happened in the UK in 2021.
Woolworths = Sainsburys
Everyday rewards = Nectar points
Qantas points = British Airways Avios
Sainsburys decided to make Nectar interchangeable with Avios at the same exchange rate in both directions - they assumed people would convert Nectar to Avios meaning that BA would pay them lots of money - instead everyone with unusable Avios (due to covid) started cashing them out for money off their groceries and Sainsburys had to pay BA lots of money.
Is there anything else you would suggest??
Unless you're prepared to play the churning game, it's hardly worth it IMHO. Take for example Finder's current top pick for rewards, the ANZ Rewards Black Credit Card. The 180,000 bonus ANZ points equates to about $810 in Wish cards. The annual fee in the first year, provided that you meet the spend criteria, becomes $225. So, a pretty good deal for the first year. But let's suppose that you keep the card beyond the first year….. With an annual fee of $375, you'd have to spend $41,625 per year on the card just to break even. (And that's assuming that you don't hit $5000 in a billing month, where the points rate then halves.)
How much do you typically spend on your current card per month? (And does it have an annual fee?)
someone who just wants a few % of his weekly shop
You're never going to get a "few" percent off by spending directly with your credit card at Woolworths. Even the ANZ Rewards Black card will only give you about 0.9%, and that's before factoring in the annual fee, etc. You can of course buy discounted eGift cards (eg; my NRMA membership gives me a 3% discount on Wish), but perhaps you're doing that already.
The HSBC Global Everyday card is free and can get you 2% off for tap transactions <$100, but that is still not as good as just getting 3% discounted gift cards.
If you have time and don't worry about a bit of admin, https://marketplace.qantas.com/au/auto-rewards - this will give you a better value. Limited to 4x$20 WISH cards per year, but if you use family members' accounts, it's a multiply of that.
$20 for 3000 pts vs your (discounted) offer that is 3489.6 pts for $20.
Sure