Qantas Cash - combined frequent flyer and travel money card

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RooFlyer said:
That AusBT article in the OP is worth a read - says a bit more than the Press release, for example:



As this looks a good benefit for FFers, I guess we are not calling it an 'enhancement'?
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Double dipping is available now. So nothing new in that. In fact, I can get 3 points/$ for use in a number of programs plus the EDR QFF points currently.
 
A nice product but the devil is in the details. Between the fees and the conversion rates that will be offered I suspect this will be similar to what most banks offer eg. CBA wallet offers multiple currencies however the conversion rate for US is currently US$0.99 while the actual forex rate is US$1.032.

We will need some serious number crunching to work out the value for dollar!

Edit: Bronze getting their own smart card is the best part of this story...lock em in!
 
Am I the only person wondering what methods can be used to load the card and/or which payments will be eligible for FF points?
;)
 
Princess Fiona said:
Am I the only person wondering what methods can be used to load the card and/or which payments will be eligible for FF points?
;)
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Only two methods mentioned: "BPay or via a transfer from your bank account" - but being e.g.'s there may be more methods available.
 
Princess Fiona said:
Am I the only person wondering what methods can be used to load the card and/or which payments will be eligible for FF points?
;)
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Re the first point, from the press release:

The new generation Qantas Frequent Flyer Card is a prepaid card not a credit or debit card. You can only spend the funds that you have pre-loaded (e.g. via BPay or via a transfer from your bank account).
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From the AusBT article:

Each card can store up to nine currencies in separate 'virtual wallets', with a new Qantas cash website and smartphone app making it easy to load currencies before each trip and manage the card.
Click to expand...
 
So far QF Cash sounds very similar to the prepaid foreign currency ATM cards that my bank currently offers, with the added attraction of QFF points. I'm interested in knowing more detail.

I recently noticed that Australia Post were offering something similar (no QFF points though) - does anyone know anything about that?
 
The suggestion that the card can be used in Woolworths etc in Australia would differentiate this card from most "Travel Money" cards - the vast majority (all?) only allow you to use funds overseas (I guess it adds to revenue from people having money trapped in a card that expires after a holiday).
 
It is all about the QFF point earn per dollar spent/recharged. If this is rubbish (any less than 0.5 QFF pts/$ is a waste of time), then they might as well not bother. Especially if they are going to charge around $24/year in account keeping fees (in line with NZ).

Looking at the NZ Onesmart earn, you would have to spend NZD173,000 in NZ to get a one way flight in Y on VA between SYD and LAX (NZD200/pt*865pts).

I do not expect anything special when QF release the fine print on this one. My guess is 1 QFF point per $5 spent/recharged. I will be opting out if this is the case.
 
Wonder how they'll manage the expiry dates. A FF card has a 12mth expiry (silver and above) whereas a credit or debit card normally has 2-5 years. Hopefully the same expiry date on the finance side of the card could be retained even when a new card is sent every year.
 
pshepvic said:
Wonder how they'll manage the expiry dates. A FF card has a 12mth expiry (silver and above) whereas a credit or debit card normally has 2-5 years. Hopefully the same expiry date on the finance side of the card could be retained even when a new card is sent every year.
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Those cards will get the same expiry dates as your Frequent Flyer card.

I have and use the LH Credit card: It is my Frequent Flyer Card and a real Master Card (linked to my Bank Account). It has two numbers printed on it: My Frequent Flyer Number and a credit card number. After reattaining a new status I get a new card (2 years with LH). The credit card number does not change - but the expiry date.
Quite convenient as I hate those tons of plastic cads filling up my wallet.

Seems an interesting product - sadly limited to Australian members. As prepaid CC it should be possible to get for overseas members.
 
there have been some questions wondering if there will be fees or charges, or what the exchange rate will be like.... first and foremost this is a money making venture for QF, so of course there will be fees and charges. Pre-paid cards rarely match something like 28 degrees (and the one by Citbank or whatever the other one is).

on average i withdraw around $20k a year in cash on my 28 degrees card. Saving me around 3-4% in fees and charges over other cards, and even more compared to currency cards. I paid around $30 in billed finance charges for those cash withdrawals. So I save around $600, less finance charges = around $570 saving... cash in hand. Even if i got 1 point per $ spent on the card, I'd be lucky to break even for 20K points vs $570 in my hand.
 
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