Woolworths Qantas card now offers 20,000 QFF [Ends 30/4/13] points

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Has anyone tried an ATO payment on it? They have a "no business expenses" clause but how do they categorise business expenses?
 
shintaro10x said:
Under $10k per month you should be ok
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I was going to give it a crack at 50 or so but will mix it up with other 'retail' spending and see what happens. To be honest if I can't smash it, it's not worth the hassle for me... Than again I guess I could spilt it between several cards. I was just to used to all on Amex or Citi...
 
shifty said:
I was going to give it a crack at 50 or so but will mix it up with other 'retail' spending and see what happens. To be honest if I can't smash it, it's not worth the hassle for me... Than again I guess I could spilt it between several cards. I was just to used to all on Amex or Citi...
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Shifty, this is not a card to smash, but if you play it smart, this is an OK card to have. For example it is possible to put ATO payments on this card at around ~$10k per month (Sure some have done more than this but it does also depend what you also put on this card, groceries and everyday spending etc.) I'm pretty sure if you put ~$150k of ATO through this card you "may" be audited, around $200k to $250k and it will be toast for you eventually.

Do what many of us do here and use a combination of split pay with other cards, and pre-pay ATO over a month or two with the QEDRCC, example would be to pre-pay ~$10k per month (this will "cover" a ~$30k quarterly payment) This shall harvest an easy 120,000 QFF per year at a cost of $576 for those points ($0.0048 per point) at under half a cent per point, I cant see why people walk away from this card, sure it is not the easiest card in the stack, but its super cheap points if you take a careful approach...

YMMV but stick with this card even as just a top-up of points :lol:
 
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shintaro10x said:
Shifty, this is not a card to smash, but if you play it smart, this is an OK card to have. For example it is possible to put ATO payments on this card at around ~$10k per month (Sure some have done more than this but it does also depend what you also put on this card, groceries and everyday spending etc.) I'm pretty sure if you put ~$150k of ATO through this card you "may" be audited, around $200k to $250k and it will be toast for you eventually.

Do what many of us do here and use a combination of split pay with other cards, and pre-pay ATO over a month or two with the QEDRCC, example would be to pre-pay ~$10k per month (this will "cover" a ~$30k quarterly payment) This shall harvest an easy 120,000 QFF per year at a cost of $576 for those points ($0.0048 per point) at under half a cent per point, I cant see why people walk away from this card, sure it is not the easiest card in the stack, but its super cheap points if you take a careful approach...

YMMV but stick with this card even as just a top-up of points :lol:
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Thanks shintaro. Good advice. I do need to change my habits as I was used to just putting the lot on one card in one day. However in my business the process is company account out in one lump sum for the total ato amount a few days before its due to personal account, than transfer to the credit cards in various transactions eg multiple bpays, than pay ato from cards and prove the transaction has taken place to the business for its records.

I am not sure how prepayment would work in my scenario based on the above, not from a cash flow point of view as I can self fund the prepayment, just from a I paid this on this date and this on this - just a bit messy. Also the ato statements would be harder to reconcile.

I have the opportunity to pay multiple business' other ato accounts as well, so keeping track would be difficult and a full time job in itself, and the accounts girls hate it.

With prepayment for me, it would have to be more on a weekly basis as I have monthly ato to pay not quarterly. I can appreciate how prepay would help for quarterly but monthly ato this becomes a little more painful.

All that said it is technically possible and it is a good source of cheap points if you use the prepayment method not to get the card cancelled. Appreciate your advice. Guess I still have to wait for the card, applied the other night...
 
shifty said:
Thanks shintaro. Good advice. I do need to change my habits as I was used to just putting the lot on one card in one day. However in my business the process is company account out in one lump sum for the total ato amount a few days before its due to personal account, than transfer to the credit cards in various transactions eg multiple bpays, than pay ato from cards and prove the transaction has taken place to the business for its records.

I am not sure how prepayment would work in my scenario based on the above, not from a cash flow point of view as I can self fund the prepayment, just from a I paid this on this date and this on this - just a bit messy. Also the ato statements would be harder to reconcile.

I have the opportunity to pay multiple business' other ato accounts as well, so keeping track would be difficult and a full time job in itself, and the accounts girls hate it.

With prepayment for me, it would have to be more on a weekly basis as I have monthly ato to pay not quarterly. I can appreciate how prepay would help for quarterly but monthly ato this becomes a little more painful.

All that said it is technically possible and it is a good source of cheap points if you use the prepayment method not to get the card cancelled. Appreciate your advice. Guess I still have to wait for the card, applied the other night...
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In your example, yes it is not an easy card for large monthly ATO payments, I'm sure you could push this card to the $200k p.a limit, but this is going to result in having the card cancelled "eventually" if you "expect" this to happen then you wont be disappointed I guess (other than losing some points)

Just remember this is a personal card, so they are effectively looking at your spend throughout this card based on the taxable income you told them when applying, if you quoted an income of ~$100k, its pretty hard for you to justify a $200k+ spend on the card as "personal" spend. They would also profile you and if you had a higher income then you may draw a lot of attention to your account, remember this is a mum's & dad's card and anyone with high income level would not really apply for this card (other than those here on AFF knowing its a great source of points if you can keep within the rules)

Be prudent, careful and have fun playing the game...

Edit: Also, lets be honest here, if you were successful in putting say $20k per month on this card, $240k p.a earning you 240,000 QFF. At a value of say 1.2c cents per point which is what QEDRCC would be paying for these points, that's a total points value of $2,880 that they are paying to give you your points, if they got the full merchant fee (which they won't) then they would recover $1152 of this, however they are still out of pocket by ~$1.7k.... So the maths does not work for them, hence they will be inclined to cancel the card

my 2c worth anyway...

Shintaro10x
 
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I agree with your 2 cents worth :)

You think they pay that much for the points from QFF?
 
shifty said:
You think they pay that much for the points from QFF?
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Nobody really knows... its a guess for most in here that the points cost is somewhere between 1 & 1.5 cents per point depending on who's buying them... also there would be GST applied to the purchase so this will also add 10%

Edit: If we used the QFF top-up points cost as an example http://www.qantas.com.au/fflyer/dyn/program/usingPoints/topupPoints

Lets say that the "big players" pay 1/3 of what Qantas offer the general public, hence 20,000 QFF for ($557.50 x 33%) $183.97. The resulting maths would then be ($183.97/20,000=$0.0092) + 10% GST would become a gross cost of $0.01 per point

All the above is pure speculation, but I would be surprised if anyone was paying less than this...
 
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shintaro10x said:
Nobody really knows... its a guess for most in here that the points cost is somewhere between 1 & 1.5 cents per point depending on who's buying them... also there would be GST applied to the purchase so this will also add 10%
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Well GST wouldn't be a factor, the business would pay and claim eg. cost neutral.

EDIT: Does anyone here have a QFF points giving business so we can work out the rate? That said it would be different for the big boys anyway.
 
shifty said:
Well GST wouldn't be a factor, the business would pay and claim eg. cost neutral.
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Would be interesting the calculation for the GST actually...

Frequent Flyer - About the Program - Terms & Conditions
19.3 Points do not have a monetary value and cannot be converted to money. They cannot be sold, transferred or exchanged other than in accordance with these Terms and Conditions. The prices for additional Points do not represent a monetary value for Points.
Click to expand...
 
shifty said:
Well GST wouldn't be a factor, the business would pay and claim eg. cost neutral.

EDIT: Does anyone here have a QFF points giving business so we can work out the rate? That said it would be different for the big boys anyway.
Click to expand...

Could be some big boys on here.
The CL guys perhaps.
 
It has been as low as 5,000 points sign up in the past, sure 16k is not as good as 20k, but it could be worse...

Just saying
 
Guys how long did it take for you to receive the 20k bonus points ?
 
T&C's say 8 weeks after first eligible purchase. Points are only issued on statement generation so it could be up to 12 weeks until you see them.
 
Just looking for a bit of clarification here. When I spend $120 with this card at Woolworths I receive 90 points (first $30 don't count). However, if I were to use my American Express card (see link below) for the same amount, I'd receive 120 points? Am I reading this wrong, or should I just be using the Amex all the time?

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