Qantas Cash alters its points earn rates
Frequent flyers will earn fewer points at home but more points overseas with the Qantas Cash travel money card.
The Qantas Cash is the latest card to give its reward points earn rates a revamp this year. But whether this is good news or bad news depends on where and how you use your card to make purchases to earn points.
The Qantas Cash card is designed to be a dual prepaid travel money card as well as a frequent flyer card that allows cardholders to earn points as they spend in Australia or in up to 11 foreign currencies overseas. Typically, cardholders can earn more points when spending overseas than when they’re making purchases in Australian dollars. However, exactly how many points you can earn is about to change.
As of 1 July 2017, transactions made in Australia will earn half as many points as they used to. They will drop from the current earn rate of 0.5 Qantas Points per dollar to 0.25 Qantas Points per $1. This means you’ll have to spend at least $4 in Australian dollars to earn just 1 Qantas Point. This is clearly not the most efficient way to earn points.
On the other hand, foreign transactions will see a boost in earn rates. Whether you’re using your card to spend in a foreign currency online or if you shop overseas, you’ll see a 50% increase in how many points you can earn per $1 spent. Rather than earning 1 Qantas Point per $1, frequent flyers can now collect 1.5 points per dollar they spend overseas from 1 May 2017. Considering this is as competitive as some of the earn rates on the top tier frequent flyer credit cards, this is an easy way to collect points without high credit card annual fees and interest rates.
Last week, we mentioned that travel cards such as the Qantas Cash and Velocity Global Wallet are an easy hack to collect points on everyday purchases without signing up for a credit card. However, considering the latest drop in earn rates on domestic spend, it might not be the fastest way to collect points on domestic costs for much longer.
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