Converting existing Commonwealth Rewards points to QFF points

[RWJ777]

The Commonwealth Bank does not allow existing points in its Rewards program to be applied to the QFF program (unlike to the Velocity or Air NZ frequent flyer programs where you can convert existing CBA points to their FF points). This is presented in the summary of the programs' interaction as being without exception.

However, tonight on checking out the CBA terms and conditions on another matter -- how sad is that on a Saturday night!! -- I discovered a very neat little exception which may help some people.

Qantas Frequent Flyer Direct

9. New members who opt into Qantas Frequent Flyer Direct within 3 months of being enrolled in Commonwealth Awards can elect to redeem any accrued Commonwealth Award points for Qantas Frequent Flyer points in accordance with these terms and conditions.

This indicates that new members, within their first three months, can indeed convert their points to QFFs.

Happy flighting.

 

[Warks]

No good to me having not opted to sweep my points there way I'm left with a huge accumulation of points that are pretty worthless in reality. Oh sure you can redeem them for a few hundred bucks worth of vouchers but really it's hardly worth bothering with. Just use the Woolworths card most of the time now.

So are you saying you can convert these points to Velocity points? I wouldn't have considered that a while ago but now I've made SG with them I'd think about it.

 

[RWJ777]

No good to me having not opted to sweep my points there way I'm left with a huge accumulation of points that are pretty worthless in reality. Oh sure you can redeem them for a few hundred bucks worth of vouchers but really it's hardly worth bothering with. Just use the Woolworths card most of the time now.

So are you saying you can convert these points to Velocity points? I wouldn't have considered that a while ago but now I've made SG with them I'd think about it.

Yes, I believe so.

 

[Newk]

what a great find. thanks. I had a look after seeing this thread. there is another clause of potential interest: on page 23 of the T and C: if a member opts to change from Comm bank awards to Qantas awards any Comm Bank award points from that current statement period will be redeemed for QFF points

There is certainly potential for gaming this

What we need now is a big sign on bonus to ice the cake

Thanks again. Not sure what I'll do about this other than keep it in the back of my mind for potential use. I have made enough applications recently. But the more the merrier as schemes are enhanced and there is sometimes a need to move on

 

[Newk]

I have applied for a card and if approved will try this and let people now what happens. Thanks again for bringing this to my attention

 

[RWJ777]

Bv

I have applied for a card and if approved will try this and let people now what happens. Thanks again for bringing this to my attention

You're very welcome ;-)

 

[Newk]

application conditionally approved. Little way to go yet but hopefully just a formality. I'll let you know how the scheme goes. The only downside I can see is being left with a pile of near worthless CBA points. But, hey it's all just a great big game.

 

[RWJ777]

application conditionally approved. Little way to go yet but hopefully just a formality. I'll let you know how the scheme goes. The only downside I can see is being left with a pile of near worthless CBA points. But, hey it's all just a great big game.

You could:

- convert them to DJ points,
- buy stuff from their (expensive) store, or
- cash out the points for reduced credit card balance.

Which you do might depend on how many you have.

 

[Moopere]

application conditionally approved. Little way to go yet but hopefully just a formality. I'll let you know how the scheme goes. The only downside I can see is being left with a pile of near worthless CBA points. But, hey it's all just a great big game.

I had a CBA Gold card for many many years but I gave it up as soon as I started gaining knowledge from this forum. The conversion to Velocity is 2:1 thus making any earn you get on the card very low indeed. There are many far better card options out there both in Amex and VISA/Mastercard land.

If you are going to spend money on living expenses and other costs then why not reap the largest possible FF points return? There is no downside really - get the best earning card you can is my view.

 

[Newk]

"If you are going to spend money on living expenses and other costs then why not reap the largest possible FF points return? There is no downside really - get the best earning card you can is my view."

Because part of "all this" is the thrill of the chase

IF the T and C read correctly, or indeed if we read them correctly, I can get 3 rewards points per dollar and then, if I decide to go the Qantas route within the first 3 months, transfer them to QFF at 1:1

OOPS Just as I write this I have found updated conditions dated September 1

Not sure if this particular game will work

Will get back

 

[Newk]

mmm

Clause 9 under "QFF Direct" still says very clearly that "new members who opt in to QFF direct within the first 3 months of being enrolled in Commonwealth Awards can elect to redeem any accrued Commonwealth Award points for QFF points......"

I am still not sure how this will work. The operative word may be "redeem". Commonwealth Award points are redeemed at 2:1 to QFF.
So redemption rates may apply rather than direct transfer?

The worst that can happen is that I get 1.5 points per dollar on the Amex and 0.625 per dollar on the MasterCard. And I have another card in the mix. It may not be "the best" card. I don't mind that. As cards are enhanced all the time the best card will vary. I would rather have another choice in the drawer than apply for another one when things change. The fees don't worry me too much in the overall scheme of things. Especially if a value is put on "fun and games"

Also I rationalise that if I spread big payments like ATO around I may not attract the attention of the CC companies

I also note that from November B-pay from this card will not attract points. There is another thread somewhere about cards and B pay and points. Must try and find it and add that info

 

[Newk]

Now that I have this card I am pretty sure I have misread the situation. It's not a Qantas OR Commbank rewards choice. You seem to always earn Commbank points. It's just that you can choose under certain circumstances to convert them to other programs, including Qantas at a set rate.

 

[Moopere]

Yes - thats how it appeared to be to me when I had a CBA gold a couple of years ago.

 

[paultiffen]

I thought the opposite actually the Comm Bank points can't be converted to QFF. BUT what I did find out is that if you exhaust your cap or faster earning rate in one you can switch to the other ie:


Platinum Awards

Platinum Awards Members with an American Express Card may earn a maximum of 250,000 Awards points per year in accordance with the table below:

Additional 100,000 Awards points earned
Earn 3 Awards points per $1 spent using your American Express Card	Earn 1 Awards point per $1 spent using your MasterCard or Visa Card	Earn 1 Awards point per $1 spent using your American Express Card only.

[TD="colspan: 3"]Total points cap = 250,000 Awards points per year[/TD]

[TD="colspan: 2"]First 150,000 points Awards points earned[/TD]

Platinum Awards Members without an American Express Card may earn 1 Awards point per $1 spent up to a maximum of 150,000 Awards points per year by using their Platinum Awards MasterCard or Visa credit card.

Platinum Awards with Qantas Frequent Flyer Direct

Platinum Awards Members with a Linked American Express Card who have opted-in to Qantas Frequent
Flyer Direct may earn a maximum of 200,000 Awards points per year in accordance with the table below:

Additional 80,000 Awards points earned
Earn 3 Awards points per $1 spent using your American Express Card	Earn 1 Awards point per $1 spent using your MasterCard or Visa Card	Earn 1 Awards point per $1 spent using your American Express Card only.

[TD="colspan: 3"]Total points cap = 200,000 Awards points per year[/TD]

[TD="colspan: 2"]First 120,000 points Awards points earned[/TD]

Platinum Awards Members without an American Express Card, who have opted in to Qantas Frequent
Flyer Direct, may earn 1 Awards point per $1 spent up to a maximum of 120,000 Awards points per year by using their Platinum Awards MasterCard or Visa credit card.


You can switch after 6 months from earning QFF to the normal points!


Paul

 

[Moopere]

Just be sure to remember that Frequent flyer Points and Awards points are not interchangeable terms. All QFF points are direct sweep into QFF once a month (I believe) and spend a small amount of time as CBA "Awards" points, before being converted at the appropriate rate and swept into QFF. As the customer, its certainly true that you don't really get to see nor manipulate this process, but its possibly important to conceptualise whats really going on.

I doubt, for instance, that you can circumvent the 120K Awards earn raqte restriction by switching to QFF direct earn. On first glance it does look like you could 'game' the system in this way, but if you think of all earned points as CBA points, at least for a few hours/days, then you'd still likely hit the problem of reduced earn.

 

[paultiffen]

I thought so too however the rep advised me today that I could change. I didn't believe her though and might try a second person. If anyone has any experience with this it would be good. To me it seems like the Westpac product might be better, I've just been with Commonwealth for years.

 

[Moopere]

I thought so too however the rep advised me today that I could change.

I think you most likely can change the scheme you want to follow, but I don't know that this will have much effect on the points cap/reduction. I do notice that there is a difference in the cap depending on which scheme you choose, so, presumably, the scheme you are currently on will provide the guidance for the points cap .... I imagine existing Awards points tallys would follow you as schemes are changed.

 

[Newk]

"On first glance it does look like you could 'game' the system in this way, but if you think of all earned points as CBA points, at least for a few hours/days, then you'd still likely hit the problem of reduced earn."

yes, you have got it- I am pretty sure. I too used to think that this system could be gamed...see my posts above. When I really, REALLY went through the terms and conditions I came to the same conclusion as you.

 

[Newk]

this should answer the questions. I have my first statement today

spend: $3368.20
total points earned: 10,075
Points redeemed -10,075

Points that appeared in my QFF account: 5038

 

[Mark3000]

Hi,
I'm about to apply for the CBA Diamond Amex / Visa and will set it up initially as direct sweep to QFF. (It seems that is the only way to get QFF points, i.e. you can't leave them in CBA and then transfer them later)
If after a year or two the QFF points pile up, does anyone know if you can change programs, so that from that point onwards, all new points go to Velocity points for the next year or so.
Would it then be possible to switch back so that new points could then be directed back to QFF at some point in the future?