One of the questions we get asked fairly regularly here at creditcard.com.au is what the conversion rate is between a bank’s rewards points and either Qantas Frequent Flyer points or another frequent flyer program points. This is something that looks really easy to figure out, but you will usually have to trawl the rewards program website to get the full picture. For a start, you’ll need to be sure that you can convert points to the frequent flyer program that you’re a member of (not all rewards programs have deals with all airlines).
To get a better understanding which frequent flyer programs are available, visit our frequent flyer credit card page which lists all relevant frequent flyer cards in an easy to view format.
There are a few things you might not be aware of until you actually go to make the transfer. Keep these in mind if you’re thinking about converting some rewards points into frequent flyer points:
Before actually converting to frequent flyer points, check out the options you might have to book flights with any airline, or to use points towards accommodation, ground transport options, tours or other rewards. Many bank rewards programs will have something to consider like travel vouchers. This could give you added flexibility when it comes to booking flights and might also mean you can fly a more direct route or at a preferred time.
Some smaller banks and credit unions also offer their own rewards program and don’t always allow members to transfer their points for frequent flyer miles. These may have a Qantas linked credit card on offer, or an alternative travel rewards program.
Founder of Creditcard.com.au. Roland has extensive knowledge about credit cards in Australia. Known as a credit card expert, he has been featured on tv and in various publications. Some popular offers on our site right now include the ANZ Low Rate. Ever popular with no annual fee first year, low purchase rate and 0% balance transfer. Have a look also at the 0% balance transfer HSBC offer with no balance transfer fee, plus an annual fee waiver each year you meet a spend criteria.