Points calculator: estimate the value of Qantas Points, Flybuys + more
Calculate the points to dollar value of your Flybuys, Velocity, Qantas Frequent Flyer Points, Amex Membership Points and bank rewards points.
Key takeaways
- Use the calculator or simple formula provided to estimate the cash value of your rewards points.
- Prioritise redeeming points for international flights which often yield higher value per point.
- Factor in additional fees or transfer rates when calculating the true value of your reward redemptions.
How to use this points calculator
Put your rewards program and points in the credit card points calculator and it will show you the estimated cash value using a popular redemption.
We've included most of the credit card points programs in Australia. But if yours isn't there, you can use the formula in this guide to calculate the value of any rewards points.
How to calculate the value of rewards points
The actual value of any rewards points depends on what you spend the points on. And how many points an item costs.
Here's a simple way to estimate points value.
- Find (or estimate) the dollar value of your reward. If you're booking flights, estimate the flight cost. If you're buying an appliance, compare prices online.
- Divide the dollar value by the number of reward points required. Let's say you need to use 30,000 points to redeem a $500 flight. That works out to $0.0166 (about 1.66 cents) per reward point.
- Multiply the point value by 1,000. This gives you a figure in dollars per 1,000 points that's easier to understand. In this example, 1,000 points equals $16.60.
How to write this as a calculation
Using the example above, here is how the basic frequent flyer point calculation per point would look:
- $500/30000 = $0.0166 (or 1.66 cents per point)
- 0.0166 x 1,000 = $16.60
How can I make the most of my points?
Treat your points like cash when you're redeeming them. If you are rewarded with vouchers or gift cards, shop for items that are on sale. With frequent flyer rewards, go for the flights that are more expensive and generally never marked down.
Example: Getting more value from a rewards flight
You need to book a domestic Qantas flight from Melbourne to Sydney. It's on sale for $130. You also need to book a flight to London that costs $1,600.
The domestic flight costs 8,000 Qantas Points. The London flight costs 55,200 Qantas Points.
Using the value per 1,000 points calculation, this international flight is worth $28.98 per 1,000 points, while the domestic flight is worth $16.25. The value of flying to London with your points is higher.
What else do I need to think about?
The value you get from reward points – sometimes known as the "points currency" – is influenced by many factors.
- Additional reward costs. Some rewards attract additional fees and charges. For example, flights might have airline fees and taxes, while retail items like coffee machines could attract shipping costs.
- Point transfers. If you want to transfer credit card reward points to a frequent flyer program, be aware that the transfer rate could affect the value you get from your points. For example, if 2 credit card points are transferred to 1 frequent flyer point, you'd end up with half as many points after the transfer. But if that meant you got a higher-value reward flight, it could be worth it.
- Credit card costs. The annual fee, interest charges, international transaction fees and any other charges you often pay for your rewards credit card can offset the value you get from reward points. Ideally, the points and other benefits a credit card gives you should be worth more than the annual fee.
Our expert says
"The sweet spot for redeeming points is one that often gets ignored: Economy reward flights. While Business flights provide better value on paper, they're much harder to find. Economy seats are much easier to score and still offer really good value. They're particularly good if you're travelling to regional Australia, where standard fares are often north of $200."
Cash rewards vs other rewards
Most rewards programs offer some types of cash rewards, such as gift cards, cashback or cash off your shop at partner stores. But this is rarely the highest value use of points.
Flybuys offers $10 off your shop at partnered stores when you redeem 2,000 points. That means each point is worth 0.5 cents.
But if you transferred 2,000 Flybuys points to 1,000 Velocity Points, Finder analysis shows that you could get a point value of between 0.4 and 4 cents depending on how you redeemed them.
Redeeming the points for a reward flight would get you the most value per point.
💡Tip: Remember to consider how much value a reward has for you, based on your own goals. Using points to get cash off your shop or gift cards could make sense if you don't fly much, and you want to keep your costs down.
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Hello,
Question about Bankwest More rewards value please :
According to this site :
https://sonic.bankwest.com.au/Rewards/portal/rewards
Looks like More Rewards Points current value is 0.22 cents per point whereas on your calculator it’s only 0.18. Do you have a mistake ?
Bankwest Cashback
$20 – $500 cashback
20/9000= 0.0022
9,000 – 220,000 pts
Thanks
Thanks for the feedback! The rate for Bankwest varies a lot so we’ve removed it from the calculator for now.
You should add Microsoft rewards to $ calculator.
Hi Noah, Microsoft Rewards isn’t tied into any Australian credit cards, so it doesn’t make sense in this context to include it.
I have 570,000 CommBank Awards points. I love to travel! what’s the most “value” way to spend it? Convert to cash and “hope”, convert to velocity to buy tickets, convert to Qantas FF and buy tickets, convert to cash with Flight Centre and buy tickets? Any other ideas? Thank you so much I really don’t know how to find out, I have a big family, kids and so much info it’s confusing!
Hi Noah, All of those are possible options – a lot depends on your own circumstances and travel plans. That said, for Qantas, you need to opt in and convert the points, so that’s not an option with your existing bank of points, though you might want to opt in for future earnings (note that there’s a cap of 150,000 Qantas Points earned per year). The Velocity conversion rate is more generous than the Qantas rate (2 Awards points = 1 Velocity Point) – that said, Virgin doesn’t have the same range of flights and partnerships as Qantas. Spending with Flight Centre or Hopper would potentially give you a broader range of choices. Realistically, with reward seats it’s often hard to get seats for the whole family – in this case, paying for travel direct might meet your needs better. Hope this helps!
I have 500,000 altitude points – what is this in frequent flyer points and how do I check where I can fly to with those points
Hi Mitesh.
49,920 Altitude points* = 312 Air New Zealand Airpoints
50,000 Altitude points* = 25,000 Asia Miles
50,000 Altitude points* = 25,000 Singapore Airlines KrisFlyer Miles
50,000 Altitude points* = 25,000 Malaysia Airlines Enrich points
50,000 Altitude points* = 25,000 Qantas Frequent Flyer Points
50,000 Altitude points* = 25,000 Velocity Frequent Flyer Points
Thanks for your question.