Credit Card Reward Programs

[Bantam Roosta]

I was just looking at cashing in some points with my rewards program and I think I may have found a 'cheat' in my favour. I always try and maximise the value I get, and this is normally fuel (or similar) cash cards.

Here are some figures for a $100 Caltex fuel card:
18,600 points (186 points per $)
8,985 points + $50 (179.7 points per $)
5,600 points + $68 (175 points per $)

Now if my sums are correct, the more cash I put in, the better value I get for each point. For something like fuel, which I am going to pay for anyway, I would be better off paying the $68 + 5,600 points.

Any obvious holes in this? Normally you get rewarded for making bigger purchases ($100 card has a better points ratio than a $25 card), but it appears not in this case.

BR

 

[TMNT]

im a big points accumulator, well i try to but isnt that such a tiny tiny difference,

I have been told (happy to proven wrong) that the best bang for buck is to buy your international flights with cash and then to upgrade to business class

 

[westminster]

Can I blow your mind?

Using Enterntainment book/various clubs/discount schemes you can get 5% off gift cards.

1. Go buy $1000 gift cards to Woolies for $950. Pay with credit card you earn points with.
2. Go to Woolies and spend your gift cards and swipe your Everyday rewards cards and earn points.
3. Redeem rewards for more gift cards.
4. Spend again and swipe your Woolies every day rewards card

Or actually use them for flights

 

[oc1]

im a big points accumulator, well i try to but isnt that such a tiny tiny difference,

I have been told (happy to proven wrong) that the best bang for buck is to buy your international flights with cash and then to upgrade to business class

Not quite. I bought business with points and paid the taxes. Worked out much cheaper.

 

[Kinnon Bell]

Different store gift cards have different redemption rates too. I had to get a new coffee machine recently and Myer and Harvey Norman both stocked the machine. I ended up going to Harveys as I could get more vouchers than I could Myers ones with my points.

 

[Bantam Roosta]

im a big points accumulator, well i try to but isnt that such a tiny tiny difference,

At the per dollar rate it may seem small, but the difference is 6%, effectively for nothing.

I have been told (happy to proven wrong) that the best bang for buck is to buy your international flights with cash and then to upgrade to business class

If you travel business class normally, then perhaps. I don't, so that would be an unnecessary waste when I can use the points for things I would use them for anyway.

BR

 

[Bantam Roosta]

Can I blow your mind?

Using Enterntainment book/various clubs/discount schemes you can get 5% off gift cards.

1. Go buy $1000 gift cards to Woolies for $950. Pay with credit card you earn points with.
2. Go to Woolies and spend your gift cards and swipe your Everyday rewards cards and earn points.
3. Redeem rewards for more gift cards.
4. Spend again and swipe your Woolies every day rewards card

Or actually use them for flights

Yep, do all that. This is just in reference to maximising point 3. It was something I had never considered until today.

BR

 

[TMNT]

At the per dollar rate it may seem small, but the difference is 6%, effectively for nothing.

If you travel business class normally, then perhaps. I don't, so that would be an unnecessary waste when I can use the points for things I would use them for anyway.

BR

ive never travelled business class but maybe one day for me,

I dont think the economy flights are too bad value, not sure how they compare to yours, but I would only do europe not asia

my flights to bali are $420 return on sale or $600 during peak,

thats 50,000 points plus $371 in taxes,

so essentailly my 50,000 points are worth $49 or $229

pretty crap to be honest

 

[twodogs]

Here are some figures for a $100 Caltex fuel card:
18,600 points (186 points per $)
8,985 points + $50 (179.7 points per $)
5,600 points + $68 (175 points per $)

BR

Thanks for the heads up, would never have thought to try that. I'll test my points next time. I get bunnings vouchers as soon as I have enough points, they have no expiry date, have to watch out for point inflation when $100 costs more in points over time.

 

[lizzie]

I'm also a big point accumulator ... but tend to trade them in for Bunnings or Harvey Norman vouchers only. Get more $$ for your points this way.

Also means I can buy something I actually need like a few thousand in kitchen carcasses the last two months ... and like the Harvey Norman as they can be used at Joyce Mayne (the significantly cheaper cousin). Go in during the sales - haggle hard - give them your vouchers. Way cheaper than HN

 

[Banvard]

I use the Coles credit card with flybuys. It gives extra points for buying stuff through the card.

My partner and I shop at Coles and fill up at Coles petrol stations as they are both local and easy for us. We use the fuel 4c off a litre voucher things too.

When I looked at it quite a while back the best use of our points was the $10 off our Coles shopping for 2000 points (I think). It's still not a great return, but it's pretty much no extra effort for us so it's worth doing.

The flights and stuff were a much lower return from what I could calculate. Since we need to buy groceries anyway, better to save that money and just buy the flights we want.

 

[Anh]

5% cash rebate

Hi,

A bit off topic but i thought i would mention that ME bank and ING direct are offering 5% cash back for 5 months for Paypass transitions up to $100, which means if you spend $1000 you would get $50 back, which is better than the credit card point. I am with citibank and the cash back is getting worse 20,000 points for $100.

I make sure i split payments into $99/each to get the cash back.

Ta

Anne

 

[Mooze]

For those using points for giftcards worth checking out various retailers price match policies as well. We got our coffee machine from DJ's on a price match for a Harvey Norman deal for less points than direct at HN.

 

[kathryn d]

Doing online surveys got me $35 in gift cards to a hardware store (similar to Bunnings..but in Canada)

In Canada, we pay a lot of our rental property expenses with our credit card..giving us points with 2 different companies.

In return, our groceries for our 4 months in Canada, have been taken care of.