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Netflix frequent flyer wars: Coles and Woolworths points deals compared

Posted: 4 August 2020 11:47 am
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Young adult couple together at home. They are sitting on the sofa using a tablet together, watching a TV show. Their dog is lying down near them.

Earn Qantas or Velocity points from streaming. Which deal is better?

2020 has not been a spectacular year for earning frequent flyer points. No overseas travel and restricted domestic options definitely play a role there. But topping up through supermarket loyalty scheme points hasn't been easy either.

For the last three weeks, neither Coles nor Woolworths has featured any gift card bonus point offers at all. That's cut off one of the more reliable options for earning Everyday Rewards or flybuys points for future conversion into proper frequent flyer points.

Fortunately, that's changed this week. Unusually, Woolworths and Coles are running competing Netflix gift card bonus points offers.

Points for Netflix is one of my absolute favourite options. Chances are you're already paying for Netflix. Over 13 million Australian households are, according to Roy Morgan. Using a Netflix gift card means you can score bonus points for something you're already purchasing. (Our full guide explains how to apply your gift card credit.)

At Coles, a $50 Netflix card will score you 1,000 bonus flybuys points. Those are worth 435 Velocity Points at normal conversion rates. Hang out until there's a 15% bonus conversion offer and that goes up to 500 points. The July 2020 bonus just concluded last week, and I predict we'll next see that offer in November.

At Woolworths, a $20 Netflix card gets you 400 Everyday Rewards points, worth 200 Qantas Points, while a $50 card scores 1,000 Everyday Rewards points, worth 500 Qantas Points. You can only redeem the offer once, so you might as well go for the $50 option.

So really there's nothing in it. If you're looking for more Qantas Points, then go with Woolworths. If you're set up for Qantas Points conversion (and you should be), that will happen automatically as soon as you've earned 2,000 Woolworths Points.

If you're earning with Velocity, go with Coles, but don't redeem your flybuys points until the next bonus offer.

Either way, it's the best-value way to score extra points in Australia this week.

Want to keep your frequent flyer points balance growing? Check out our guide to the latest bonus offers or credit card sign-up deals.

Angus Kidman's Findings column looks at new developments and research that help you save money, make wise decisions and enjoy your life more. It appears regularly on Finder.

Picture: Getty Images

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