Have you received your new Qantas Card? Apply for Qantas Cash today.

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Re: New WP 1 Card QF Cash

Put some $s into Euro on Monday getting what I thought was a decent rate - then the A$ kept on going up :-(

Despite paying by Poli, money didn't show up until this morning, so no real difference to BPay.

Also when you load money in a currency you can see the "Buy-Back rates" which aren't displayed when you don't have any money.

As at moment.
Buy EUR 0.7317
Sell EUR 0.6710

XE Mid-Market 0.70036
Spread to Buy 4.5%
Spread to Sell 4.2%

Another data point that does show that for some reason the Euro rates are particularly high.
 
markis10 said:
I think we are all in agreement :)
Click to expand...

So in reality its a good deal for international travellers ? but not so hot for spending here in Oz!
I use my 28Deg card at the moment as the costs associated with my AMEX or other QFF aligned card makes the points earn too expensive.
If this is the case then I may try it out for NZ in Feb and UK in May.
BTW received my card a bout 2 days ago, in low key plan envelope.
 
GPH said:
So in reality its a good deal for international travellers ? but not so hot for spending here in Oz!. ...
Click to expand...
I am not in agreement. It is not a good deal when compared with the Citi Debit or 28°.

Any forex transaction is going to cost at from around 3% on the daily forex rate and up to double that if you purchase in a foreign currency with the funds coming out of one of the eight non AUD "Wallets".

It's best uses are for:

Either earning debit card points for AUD expenditure at ½ a point per $:

e.g
samh004 said:
Already spending big on my new card that arrived this morning, though was a bit annoyed to find that just because it's MasterCard doesn't mean it's a fee-free transaction on Jetstar. There's probably a gift voucher loop hole somewhere?

Will try PayPass at Woolworths in an hour or so no doubt too. May as well earn points if I suddenly can!
Click to expand...

or "Locking in" current Forex rates for later use:

e.g.
markis10 said:
...

Most of my destinations are in USD pegged currencies, I am going to start loading now because I think our dollar is at its best it will be for some time, did too much travelling when it was at 56c!
Click to expand...

See this earlier post for an example:

serfty said:
There is the confusion! There is a margin in transferring money from your AU$ "Wallet" to the "Wallet" of another currency.Here's some scenarios (As of September 5th):

[TABLE="class: grid"]
[TR]
[TD]1.[/TD]
[TD]Put AU$1000 into your AU 'Wallet" and there is AU$1000 there.

Transfer that to the card's USD wallet @ .891 (the rate published by markis10 this morning) and you have US$891 to spend.

Buy something in the USA for US$800 and ...[/TD]
[TD]you then have US$91 in the wallet (~AU$99)

Also you have earned ~1800 QFF points.[/TD]
[/TR]
[TR]
[TD]2.[/TD]
[TD]Put AU$1000 into you AU 'Wallet" and there is AU$1000 available.

Don't convert that to the card's US$ wallet and buy something for US$800. There's no credit in the US$ wallet, so it will be taken from the AU$ wallet at the current exchange rate plus 3%. The exchange rate is 91.5, so that works out to AU$875.

The 3% fee on that is ~AU$26 so you end up paying a total of AU$901 ...[/TD]
[TD]leaving you with about AU$99.

Also you have earned ~1750 QFF points.[/TD]
[/TR]
[TR]
[TD]3.[/TD]
[TD]Put AU$1000 into your 28° Citibank Debit Visa.

Use that to purchase an item for US$800.

The exchange rate is 91.5, so the cost is AU$875.[/TD]
[TD]You have AU$125 left.[/TD]
[/TR]
[TR]
[TD]4.[/TD]
[TD]Put AU$1000 into your AU 'Wallet" and there is AU$1000 there.

Transfer that to the card's USD wallet @ .891 (the rate published by markis10 this morning) and you have US$891 to spend.

Buy something in the UK for GB£513 and the funds come out of your USD "Wallet" (as your AUD "Wallet" is 'empty') at a rate of ~1.56 coming out at US$800.

The US$800 then has a 3% fee of US$24 tacked on for a total of US$824 and ...[/TD]
[TD]you then have US$67 in the wallet (~AU$73)

Also you have earned ~1800 QFF points.[/TD]
[/TR]
[/TABLE]
Click to expand...
 
Last edited:
GPH said:
So in reality its a good deal for international travellers ? but not so hot for spending here in Oz!
I use my 28Deg card at the moment as the costs associated with my AMEX or other QFF aligned card makes the points earn too expensive.
If this is the case then I may try it out for NZ in Feb and UK in May.
BTW received my card a bout 2 days ago, in low key plan envelope.
Click to expand...

serfty said:
I am not in agreement. It is not a good deal when compared with the Citi Debit or 28°.

Any forex transaction is going to cost at from around 3% on the daily forex rate and up to double that if you purchase in a foreign currency with the funds coming out of one of the eight non AUD "Wallets".

It's best uses are for:

Either earning debit card points for AUD expenditure at ½ a point per $:

e.g

or "Locking in" current Forex rates for later use:

e.g.

See this earlier post for an example:
Click to expand...

What is probably better than all of these options is the Bankwest Platinum Qantas Mastercard, which is fee free for international transactions, uses the competitive Mastercard forex rates and earns 1pt/$ on your spend :).
 
Mr_Orange said:
What is probably better than all of these options is the Bankwest Platinum Qantas Mastercard, which is fee free for international transactions, uses the competitive Mastercard forex rates and earns 1pt/$ on your spend :).
Click to expand...

My 'weapon of choice' at the moment for the reasons you have stated above.

Have found BPay very slow to credit onto the QF Cash account. Credited on the three business days which is very rare.
 
Revived mine on Monday. I am a life QP member card only has member since 1996, nothing about being a QP member.

So another piece of plastic in the wallet.
 
Had to buy a game on Steam this morning, so logged into QCASH and then converted some cash to USD in seconds, then paid for the game. The cash was taken from the USD and all seems to have worked fine. The difference between what google tells me USD$19.99 is worth and what I had to pay was 60¢ (AUD).

I'm cough at maths, but had I not converted some cash to USD I'd have had to pay an additional 3% I take it, which would have been about 68¢ more? Seems like I'm ahead.
 
Only 1 day after getting the white card, I used it as BP on MEL-SYD and forgot it on the plane :( No one found it so I had to order a new one.
Felt so strange to print BP's again, like I went back in time...
 
boomy said:
Only 1 day after getting the white card, I used it as BP on MEL-SYD and forgot it on the plane :( No one found it so I had to order a new one.
Felt so strange to print BP's again, like I went back in time...
Click to expand...

Woops... Thats gotta suck.

Could you not still use your previous WP1 card now?
 
Received the card not sure I will use it as a travelling card; earn much more points on certain credit cards, especially when used overseas
 
samh004 said:
I'm cough at maths, but had I not converted some cash to USD I'd have had to pay an additional 3% I take it, which would have been about 68¢ more? Seems like I'm ahead.
Click to expand...

Not quite.
My understanding is if you pull it out of a different bucket you pay the MasterCard spot less 3%.

Thus say on aud-usd
Qantas cash 0.88
Xe.com 0.91 (mid market rate)
MasterCard buy 0.90 (some spread to xe - this is purely an estimate).

If you transfer on qcash aud100 gives you usd88

If you forgot to transfer then the aud100 would give you usd87 (.90x.97x100)..

The main advantage of qcash is the ability to lock in the rates.
On spot purchases you are probably better transferring for usd (as spread seems to run at 2.5%, but conversely better not transferring for eur as the spread seems to run nearer to 4%)
 
Has anyone (WP's in particular) who didn't pre-register already receive a card? Mrs B and I didn't at the time but now have a trip coming up. Would be nice to have as an option.
 
bosox76 said:
Has anyone (WP's in particular) who didn't pre-register already receive a card? Mrs B and I didn't at the time but now have a trip coming up. Would be nice to have as an option.
Click to expand...

Didn't pre-register and got mine about two weeks ago.
 
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