What to do with your QFF points during the COVID-19 travel slump?

[Mr H]

Why would it close? They want you to use your points for wine and other goods vis a vis flights.

I'm not sure that they do. If you use your points for purchases, QF has to pay the suppliers for those purchases. If you spend on QF flights then they are not really out of pocket because the flight was going to operate anyway. Just the cost of a meal and a few glasses of wine if the redemption is in a premium cabin.

 

[exceladdict]

Seems Virgin aren't (yet) doing the same.

I just cashed out all of my Velocity points for gift cards. Seemingly no limits.

Is it Time to transfer/withdraw points from Velocity?

Hi All, I need some advice from the brains trust on this forum. I, like many on here, have hundreds of thousands of points sitting with velocity. With the current COVID-19 situation and virgins financial position I’m concerned that if the airline was declare bankruptcy points may disappear...

www.australianfrequentflyer.com.au

I did this earlier last week. Physical cards though for me

 

[exceladdict]

Also appears to be a 200k/day limit per QFF account spending on gift cards

 

[LadyC]

I don't have that many points at the moment with QF, having spent nearly 500k in late January for some award flights in December 2020. I'm happy to sit on them for the time being, as others have said, I don't think that Qantas will collapse. I think the Government is more interested in keeping them afloat than any of the other airlines.

 

[LadyC]

Well they are actually flights home from the USA. But who knows if we will even be able to travel then? Strange times we are in.....

 

[jboy90]

To where? Hopefully not thailand

Why not to Thailand? Their handling of the current situation?

 

[Mr H]

Here's my take on it - and I'm not a very good capitalist.

I already have too much stuff. I spend my income on stuff.

I do not spend my income on premium cabin air travel, so FF points give me access to a world I love but could never justify spending cash money on. And I know I have spent cash money on the FF points, but somehow it doesn't feel like it.

So I'm going to keep my points and hope I can use them for future travel. If I lose them, I lose them. But I'd rather have the hope of premium air travel than the certainty of more stuff.

 

[Mr H]

Looking like most banks are pulling back from points, take it as you will.. Excluding Qantas only ANZ and NAB have decent points signs up but with huge card fees.. Any ideas what that means?

If that's true - and I'm not sure it is - it indicates to me that banks are trying to reduce the card churning. That's why some cards now specify spend over several months, or offer bonuses on renewal into the second year.

 

[Dr Ralph]

Compare Credit Cards that earn Qantas Points | Qantas Frequent Flyer AU

All major banks in Australia offer credit cards that allow you to earn Qantas Points, which are automatically added to your Qantas Frequent Flyer account.

www.qantas.com

Looking like most banks are pulling back from points, take it as you will.. Excluding Qantas only ANZ and NAB have decent points signs up but with huge card fees.. Any ideas what that means?

Suggest you check more closely. I can see no evidence of any of the advertised offers being pulled other than those offers that already had a clearly stated expiry date. Offers have ALWAYS been cyclical. Spend some time having a look at the various threads on AFF which clearly show this.

@celsioraus since joining very recently you've posted a large number of 'the world is ending' type posts.

If that's true - and I'm not sure it is

To be blunt, it isn't true.

 

[opusman]

I think the Government is more interested in keeping them afloat than any of the other airlines.

Agreed, imagine being the government (party) that let Qantas go under. Can't see it happening. Plus what would they all do without their Chairman's Lounge memberships?

 

[amaroo]

I'm guessing there will be the mother of all devaluations, from all airlines once they get their heads out of the current $ hit pile they're in.

Can't really blame them. Most things will be very different after this global event.

 

[exceladdict]

I'm guessing there will be the mother of all devaluations, from all airlines once they get their heads out of the current $ hit pile they're in.

Can't really blame them. Most things will be very different after this global event.

Agree. The question is whether 0.5c/P on gift cards now is better value than whatever may happen in the future. I don't know enough about Airpoints, but it may be the closest we have to a case study.

 

[amaroo]

Agree. The question is whether 0.5c/P on gift cards now is better value than whatever may happen in the future. I don't know enough about Airpoints, but it may be the closest we have to a case study.

I'm thinking they will deval existing balances - 50% could be the best outcome.... not sure what the worse could be.

 

[Mr H]

I'm thinking they will deval existing balances - 50% could be the best outcome.... not sure what the worse could be.

I don't pretend to understand the economics of FF schemes but I don't see why they would devalue. Surely they would want to entice people back to flying by filling up planes.

 

[amaroo]

Surely they would want to entice people back to flying by filling up planes.

With cash, they haven't already banked and spent.