Opt in to Earn 10 Bonus Points for every $1 spent

[tscharke]

purchased $500 wishcard yesterday @ 2pm and the bonus points posted overnight great turn around!

btw, I used the Amex Qantas Corp card which isn't linked to a cash withdrawal function!

 

[lovetravellingoz]

Hmm - out of interest there is no catch that the purchase of a gift voucher would be treated as a cash withdrawal is there?

It states on the back of the card that it is not redeemable for cash. (With grand visions of being a new Pudding Guy I had thought briefly about cashing in the card for many re-uses!!!!.....so was looking for the fine print on this!!!)


Therefore the card is effectively purchasing goods with payment in advance.

 

[futaris]

LOL. I could just see it now. Someone churns $87000-$91000 in giftcards through their amex to get a million MR points.

 

[lovetravellingoz]

LOL. I could just see it now. Someone churns $87000-$91000 in giftcards through their amex to get a million MR points.

Yep...that was my pleasant daydream ...shattered by reading the back of the card

 

[JohnK]

...shattered by reading the back of the card

Why? Just prepay your food bill for the next 8 or so years. If you want the MR points that badly then you need to be prepared for some sacrifices.

 

[lovetravellingoz]

Why? Just prepay your food bill for the next 8 or so years. If you want the MR points that badly then you need to be prepared for some sacrifices.

Err no, I think you misinterpretted my daydream....

...... I was not at all I was referring preayinga food bill for 8 years as I knew upfront that the cards are valid for only a year.......and with shares and other things there are more profitable ways for me to have some long term cash invested and so I will limit how much I prepay....

You missed the point that I was referring to.

IF you had been able to redeem the card for cash......one could have for example bought $5000 worth of Gift Cards...redeemed the cash...bought again $5000 worth of gift cards.....and so on....to effectively spend nothing back rack up a large points balance for nil cost.....and say 1,000, 000 points would not have been out of the question.

The card however says on the back that one cannot redeem the balance owing for cash.

It does however still permit me to my groceries fuel etc for a year....though the share market etc beckon and so I will not do that.


So instead of a momentary daydream of 1,000,000 pints I will gladly instead just soak up 50-100K of points instead.

 

[futaris]

You could buy enough food to stock your bunker for the nuclear holocaust.

NB, while it's not as good as cash, you could always resell your giftcards on eBay or the like.

 

[lovetravellingoz]

You could buy enough food to stock your bunker for the nuclear holocaust.

NB, while it's not as good as cash, you could always resell your giftcards on eBay or the like.

1/ yes there is guy on Ebay...who is also selling Coles Cards...so I am not sure what his source is as there is no Amex Coles deal.....but for me it would not be worth the time and effort at say a profit of $20 per transaction...PLUS the risk of things going wrong.

2/ I would not stock up on too much food....as their is alost opportunity cost compared to if you had the money invested elswehere.

iea quick 15% by spending on what you would anyway and prepaing some credit for groceries and fuel over a few months is a good deal....

Over a year..15% not so good...compared to other investments..

Prepaying 8 years worth of food for your fall out shelter a bad deal as the 15% discount would bea lot lot less that if you invested prudently the same sum on shares...

 

[lovetravellingoz]

. If you want the MR points that badly then you need to be prepared for some sacrifices.

I don't want them badly at all. To me FF points are just another form of currency...no better no less..

I look at it very logically...cost and time to get points. Same as my career...same as my investments.

When the equation is attractive I gain points. If the effort is to much or if it is a dud I ignore it.

If I can gain a cash discount greater than the points earn I take the discount in hand.

If another airline offers a much better deal than QANTAS then I fly with them despite being a QC member...as well as not gaining FF points.


Sometimes there are large numbers of points to be had for very little cost including in my time.

ie a recent Earth Card application for my wife and I say took 20 minutes and earned 30,000 points for the two of us. This to me is worth $450 for 20 minutes (though to be fair some time on this forum too...but that is not just for gathering pints...) of my time which for me is a good deal.


An hour of fiddling around on Ebay to make say $20 with risk is for mea bad deal and I would not do it. So I will not be flogging any Gift Cards on-line.


For each of us it is different....with me while yes there is an element of fun I basically look at FF points gathering as part of my yearly earn...added to my salary and investments....

As such I focus on maximum earn for minimum cost and effort....but as long as the equation is attractive I will grab points.

I know of others who buy things on Amex to earn the 1.5 points...but who then maintaina balance paying 18% interest on it....that to me is folly.

 

[JohnK]

I don't want them badly at all. To me FF points are just another form of currency...no better no less..

My post was a little tongue in cheek.

To me collecting FF points is important providing an avenue of opportunity for my next RTW. I won't go out of my way to collect them but why not collect FF points at every opportunity within reason and budget? Why not stay at Best Western? Why not stay at Hilton and double dip? Why not shop at SYD duty free? Why not hire a car from Avis, Budget etc?

I know of others who buy things on Amex to earn the 1.5 points...but who then maintaina balance paying 18% interest on it....that to me is folly.

I am, unfortunately, in the situation where I pay interest on credit cards. That is totally my fault with something that happened years ago.

Now I still need to purchase certain things eg, food, fuel, insurance, registration, airfares, accommodation, phone bills, pay tv subscription etc. I could pay cash for these things or I can deposit the money in the Amex and pay with Amex and still collect MR points which will more than likely be converted to FF points sometime in the future.

I do not buy something if I do not need it but still pay interest on credit cards. Whether that is right or wrong is a hard call to make and I don't think this is the right place for that discussion.

 

[simongr]

Whether someone decides to pay interest on CC or not is a totally personal decision. I would hope that anyoe who is managing heir finances through CC for their personal reasons would not punt on a "deal" like this - its great for people who pay in full each month and tomorrow I shall be availing myself f the opportunity

 

[Alanslegal]

I am, unfortunately, in the situation where I pay interest on credit cards. That is totally my fault with something that happened years ago.

Now I still need to purchase certain things eg, food, fuel, insurance, registration, airfares, accommodation, phone bills, pay tv subscription etc. I could pay cash for these things or I can deposit the money in the Amex and pay with Amex and still collect MR points which will more than likely be converted to FF points sometime in the future.

I do not buy something if I do not need it but still pay interest on credit cards. Whether that is right or wrong is a hard call to make and I don't think this is the right place for that discussion.

If i may suggest, why not consider using a CC balance transfer to another CC which offers very low interest % for ther lifeteime of those balances? in this way, you can t/f all the Amex balance to that new card..........

the amex is now empty, you can continue depositing $$$ into amex is what you are currently doing and continue to use it as you please and earn MR..... and hopefully, you would not need to part (or at least minimise) with any of your $$$ to pay interest charges.

 

[oz_mark]

If i may suggest, why not consider using a CC balance transfer to another CC which offers very low interest % for ther lifeteime of those balances? in this way, you can t/f all the Amex balance to that new card..........

the amex is now empty, you can continue depositing $$$ into amex is what you are currently doing and continue to use it as you please and earn MR..... and hopefully, you would not need to part (or at least minimise) with any of your $$$ to pay interest charges.

When I was carrying a level of debt (separation/divorce will do that!), this is exaclty what I did. Although it was mainly on the AMex cards back in the day when Amex offered some fairly regular deals with low interest rates. Haven't seen many of those latelky though.

 

[JohnK]

If i may suggest, why not consider using a CC balance transfer to another CC which offers very low interest % for ther lifeteime of those balances? in this way, you can t/f all the Amex balance to that new card..........

That is a good idea. I do use credit card balance transfers but it still takes time to pay the original debt....

 

[futaris]

Just a quick FYI. The Good Guys in Brisbane are having a 15% off sale this weekend...

 

[simongr]

I have put mrssimongr in charge of acquiring the Wish cards today whilst I paint the house - we shall see what happens when she returns.

One concern was as she left to go shopping and I told her to use the cards in Woolies and Dan Murphy's she shouted back "I'm bringing the Bolly" - I am slightly concerned that the wish cards may be being deemed to be free money...:shock:

 

[lovetravellingoz]

I have put mrssimongr in charge of acquiring the Wish cards today whilst I paint the house - we shall see what happens when she returns.

One concern was as she left to go shopping and I told her to use the cards in Woolies and Dan Murphy's she shouted back "I'm bringing the Bolly" - I am slightly concerned that the wish cards may be being deemed to be free money...:shock:

Well it could be worse....at least it is something you can share.....

 

[Shano]

Well it could be worse....at least it is something you can share.....

I checked the likelihood that any of the participating stores sold shoes or handbags before mentioning it to Mrs Shano....

 

[oz_mark]

I checked the likelihood that any of the participating stores sold shoes or handbags before mentioning it to Mrs Shano....

I'm sure your local outlets are considering expanding into these areas after discovering wives of various AFF members had access to funds accruing from point generating activities

 

[simongr]

Well mrssimongr bought the cards. Points not yet posted - assume that is a weekend thing...