Was going to use some of my rewards points with the Commonwealth Bank mastercard to pay for the months balance but saw that there is a place for a cashback offer code and wonder how do you get one? I never know the best way to use these rewards points so any suggestions would be great, thanks
About twice a year virgin velocity rewards scheme lets you transfer cc award points into velocity points at a bonus of 130% or so.
So effectively increases the value of the award points, which can then be used to by virgin flights.
Recently velocity hasnt been so generous.
Option 2 is gift cards as xmas or bday presents.
I have tried to redeem items on special offers or discount. I remember they offered discount on shopping card like Target or some sort.
Cashback is rarely the best option.
Check the gift cards and buy one for a shop you generally visit. Some are subtly better value than others - KMart, Myer, Target, Rebel Sport represent the best value (17400 points for $100 - Caltax/BP are 18000 points)
Calculate how much your points are worth here http://rewardscompared.com/program/commonwealth-awards
Yes, would buy a store card, but the only ones near me are supermarkets, do they offer cards, ie Coles, Woolworths, Bi-lo, thanks
My observation is that the $ value for cash based rewards is not as high as getting a product.
So, getting straight cash or credit to your account, or paying the annual fee is not as good as getting a product, or getting gift cards.
We normally get David Jones gift cards and buy clothes for work, but you might like to do something like get the fuel cards from caltex? and fuel your car instead. That is money you would have spent anyway, so it is effectively the same as cash, but better value for the points.
They also have a facility now to do points + a payment to buy things, so if you wanted a TV anyway, you could use your points to get a discounted price in effect. You'd need to check that the real world price is not too far off the points price obviously.