JohnK
Veteran Member
- Joined
- Mar 22, 2005
- Posts
- 44,098
Why? I prefer to get the $$discounts rather than QFF points.I am surprised that there are still people who do not have a Woolworths rewards card attached to QF.
Why? I prefer to get the $$discounts rather than QFF points.I am surprised that there are still people who do not have a Woolworths rewards card attached to QF.
It depends on what you value them at; for me 870 QFF points are worth more than $10, for SWMBO it about the $$. So she got $110 off shops in December while I picked up some points.Why? I prefer to get the $$discounts rather than QFF points.
It also depends on how quickly you can earn points to do anything useful with them.It depends on what you value them at; for me 870 QFF points are worth more than $10...
Can you please arrange a flight for me using your points. No of course not under the rules. They have no value in this example.
They appear to have a value to you but it's not guaranteed it is only a promise to exchange them with you at the airlines discretion.
They have a perceived value based on a promise to pay.
Checking emails? A 73 year old may not have the capacity to read emails on a tablet in hospital. Nor be particularly concerned about Qantas points offers (the specific email notification seems to be new).
I disagree with this.
While the "value" of points for the member who uses them will vary based on how they use them and what they get out of it (eg: 20 toasters or a F seat to LHR) that's "preceived value."
my 200k points will have a different "value" to me as it does to you based on use, earn(how easy etc), if I can get the reward (seat, upgrade, partner award or gift card)...
BUT
those points, being the "currency" of QF Loyalty, have a value that is not perceived, but is set within QF and is known to them. That is their liability on their books at a specific value, and what stems from that is the pricing that they then put on goods and service using those points to reach a desired profit point, and those will vary based on the selling price of various vendors to them (as in, the merchant rate or wholesale price if you will) of that Good or Service - if it's a QF F seat, a partner award, a hotel room, a gift card or toaster etc....
And, in turn, QF on sells points to others like banks and they obviously do that at a profit to them, So those sign on bonus promotions and"earning power" of your credit card is again based on a agreed price between QF and the bank. That's not preceived, that's a real cost.
from the outside, without knowing any of these various deals and values we can not ascribe a set value to a QF point, but there is one and that's not perceived at all. By simple accountancy laws they *have* to have a value.
IMHO.
additional point to the subjective "value" from our perspective (or if you like perceived value) - it is so subjective and contextual to each member IMHO. Back some years ago when AJ grounded the airline and there was talk of QF going bust, QFF haing no value etc in some segments of the media, a friend of mine proudly informed me she redeemed all of her 190k odd points for woolies vouchers.
I was, as any member here would no doubt understand and possibly agree, appalled at this - so to ME her redemption was poor.. so her use of points had a poor perceived value. To HER though, she got what she wanted - some woolies vouchers and piece of mind so her perceived value was high. Of course I told her I wasn't concerned still earning and all the rest. We haven't discussed it sine, but I imagine she may have some regrets about her decision in hindsight.
but to HER at that time... total value.
Me? If I really thought the writing was on the wall I'd prob use 190k points of say EK F to europe or something like that. I am sure many others reading would use 190k points on different things that they consider of value.. for example I imagine JohnK would use those points on redemptions in Y to BKK.
All different "value" propoisitions but also very subjective
Of course this is a major tangent to the thread, so.. sorry about that
True but accountancy also recognises zero as a vale, which in most people terms effectively means exactly the same as "no value" if we ignore those who are pedantic about it.By simple accountancy laws they *have* to have a value.
QF points do not have zero value to the airline.
In a case from last year, Tuckson v Elsey, Federal Circuit Court judge John Coker noted with interest that “both the applicant and the respondent sought to have them (the points) included at the very least as a financial resource available to (them)”.
While he couldn’t put a specific value on those points, “they certainly do have value when used by one or other of the parties, either to upgrade the class of air travel that one or other might engage in or to be utilised for the purchases of products”.
“It would seem impossible to actually attempt to quantify them,” Judge Coker noted, and so he simply split them along with the rest of the property, with 287,850 Qantas frequent-flyer points going to the wife.
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When we all lost points in the Ansett failure, how many people here put in an unsecured creditors claim?
The T&Cs of the program are that they have no monetary value, and can't be converted to cash. But that's a different thing to saying they have no value.
Then on the flip side, QF would be putting in an unsecured creditor claim for any company they sell points to upon that companies failure.
They may not be redeemable for cash nor a member considered a creditor, but that doesn't ultimately mean they do not have a value, as QF's shareholders would certainly disagree.
That's what I thought, no one.
When we all lost points in the Ansett failure, how many people here put in an unsecured creditors claim?
What?