Looks like a 'citibankism' with a healthy level of ambiguity in the description.
My interpretation for discussion:
- Spending $1 on the card earns Suncorp Bank Reward points which can be converted to 1 QFF point provided the holder has paid the extra $19 fee.
- The 40,000 sign on points stay as Suncorp Bank Reward points and redeemed within the scheme but cannot be converted to QFF.
Edit: Maybe the topic of this thread would be better read as
Suncorp Clear Options Plat - $224 annual fee, 40,000 Suncorp Bank Reward Points.
Alby