Earning Qantas Points without Credit Cards - A Case Study of my Weekend!
The past two years I have moved away from using credit card churning as my main method to earn points. This move was pretty much enforced by quitting my previous long term job as a teacher and becoming a self-employed Points Coach!
I must admit I actually really enjoy now being across ALL the different ways to earn points so I can share them with you! However, I'm not denying that maximising credit card sign up bonuses do still offer a way to generate a large number of points (as I posted about here)
This post showcases a recent weekend where I dedicated some time to research and sign up for bonus point promotions, resulting in a potential 132,500 Qantas Points – just about enough to secure two Business Class flights between Australia and Asia or make significant progress toward a European adventure in style!
How Did I Earn the Points?
Now first of all - these points are not FREE. Points are basically never free and there are always some obvious or more hidden costs involved (such as your time, personal data, transaction fees, psychology of increased spending etc.)
So when 'chasing points' like this, I first research the deal and also look into the experience of others (using forum groups such as Ozbargain, Facebook and Reddit) and then simply consider....
What I am spending to earn the points VS what is the value I will receive in return.
I typically value points at 1c each, and focus on earning them at a rate lower than this. I know that I will basically always come out well ahead if I use the points to book reward seats - especially reward seats in Premium Cabins.
To earn these 132 500 Points I am actually spending only $244 over my current expenses.
I am therefore earning these points for under 0.2c each and I should be able to redeem them at a value of over 2c a point (10x as much!). This basic theory is how you maximise point collecting. Read on for a more detailed breakdown and description of the deals....
Points Earn #1 - 20 000 Points (Bankwest Qantas Transaction Account)
I have previously mentioned this Bankwest deal (click for a more detailed post) which earns 10 000 Qantas Points per new customer. So I signed myself and partner up. As she has zero interest in collecting points, until sitting in the plane with champagne in hand, I will probably 'manage' her account for her to ensure conditions are met...
Total Costs - 20 000 points for $0
Other considerations - Signing up took maybe 5 minutes (you need to verify ID online). I also have to ensure I 'jump through the hoops' and make 10 transactions each calendar month per account AND transfer $2000 in and out each month to avoid the $6 monthly account fees. So whilst it's potentially free, some 'time' costs are involved with this deal.
*This offer ends on the 30th November 2023 and is linked here
Points Earn #2 - 12 500 Points (Origin NBN Internet)
Origin is currently running a deal where you can earn 25 000 Everyday Reward Points when signing up as a new internet customer (12 month exclusion periods apply).
As Everyday Reward Points convert at a 2:1 rate this will earn me 12 500 Qantas Points AND I get the bonus of 12 months free Paramount+ subscription ($120 Value).
The best thing about this offer is that there are no contracts and you receive the points after approximately 45 days as per the T&Cs. One thing to be aware of with many NBN companies (Origin being one of these) is that whilst they don't have cancellation fees - you must provide them with 30 days notice before cancelling.
So I will be shopping around for a new NBN provider after the points hit my account - remember that there is no real reward for loyalty these days - the only rewards come from switching providers and chasing the deals.
As my previous NBN plan with Exetel was $69.95 a month, I am only paying an extra $5 a month for the same product. I do receive a $10 a month discount from Origin as an exisiting electricity customer.
I'll factor in an absolute maximum of 3 months to get my points so....
Total Costs - 12 500 Points for $15
Other considerations - In general the Origin NBN plans are slightly more expensive that others on the market so I'm purely in this for the points. If you already have an NBN connection your current equipment will usually be compatible (but doesn't hurt to double check this). From what I've read/researched your Paramount+ connection will remain active after you cancel so a nice bonus!
This offer expires on the 14th December and full details can be found here
Points Earn #3 - 50 000 Points (Qantas Home Insurance)
Now, generally I find the Qantas Insurance products over-priced and fairly uncompetitive BUT they are currently running their BIGGEST EVER bonus offer on Home Insurance with up to 50k points and you only need to remain with this policy for 60 days before receiving the bonus points (6 month new customer exclusions apply)
This offer had some good timing, as I haven't actually shopped around to compare my home insurance for a while, and have probably been paying the 'lazy tax' by not taking the time to compare (an interesting article on the psychology of this).
Now my goal was to get my home/contents insurance just above $1550 a year to ensure I'd receive the maximum 50k bonus for a minimal spend. I was able to do this fairly easily by adjusting the amount I was insured for and in particular making the excess levels a little higher.
I'm actually insured for a higher amount now than under my old policy and I must admit I wasn't too concerned with the possibility of paying a higher excess as I'll move on elsewhere in two months. But of course your insurance pricing and needs will vary depending on your own specific circumstances.
I am also choosing to pay using monthly instalments and you can also delay your first payment for up to 2 weeks after your policy starts which might give a nice buffer to cancel after the 60 day mark and avoid making a 3rd monthly payment.
The Qantas site is also VERY clear about showing you the amount of points you will earn with these insurance products when completing the sign-up process, as you can see in the image below.
As my current home/contents insurance was costing me $148 a month I'm actually SAVING over $17 a month signing up to this. Over 2 months i'll save $34. The T&Cs state that there is a potential charge of $40 for cancelling a policy early so I'll factor that in also....
Total Costs - 50 000 Points for $6
Other considerations - Now properly insuring your home and contents is a little more important than an NBN connection or new bank debit account so ensure you take the time to consider T&Cs and that you are happy with the level of insurance provided for this time period. Also consider the time needed to call up and cancel and again 'shop around' once you have received the bonus points. For me it is definitely worth the effort involved.
*This offer ends the 5th December and is linked here
Points Earn #4 - 50 000 Points (Qantas Car Insurance)
Finally, Qantas is currently running a similar 'best ever' deal for car insurance and offering up to 50k bonus points for annual policies over $1550. Again I don't intend on keeping this policy for 12 months but will be taking advantage of the flexible cancellations to look elsewhere after 60 days when the points are awarded.
As with the home insurance, my goal was tinkering around with the inclusions and excess amounts to make sure I went just over that $1550 annual amount ($130 a month repayment) - I found that even with a 'not that valuable 2011 Kia', by adding street parking, over 30 thousand km per year, accident car hire and windscreen excess reduction I was able to get to the required total. *Note that adding roadside assistance will give a seperate 'one off' charge - so maybe avoid this.
My old policy with Bingle was $462 for the year (works out to $38.50 a month) so this policy which will cost me $130 a month is over 3 TIMES AS MUCH!!! Obscenely expensive, but again emphasising I'm in it for the 50k points only (2 months needed).
So my total extra costs over 2 months will be $183 and potentially the $40 early cancellation fee.
Total Costs - 50 000 Points for $223
Other considerations - Again emphasising to ensure you carefully check the T&Cs and are happy with the inclusions of any policy before signing up. For me - I am getting a 'better' policy than I previously had for the next 2 months BUT I will definitely be moving away from Qantas once the points arrive as it's too expensive (so again factor in this 'research/cancelling' time)
*This offer ends the 5th December and is found here
Conclusion
If you've made it this far, hopefully this post has shown you that IT IS possible to still earn a decent number of points without just being reliant on credit card bonuses or spending lots of money.
By taking advantage of these offers I'm effectively buying 132 500 Qantas Points for $244 (and giving up some time....but let's be real, I love doing this stuff!)
Key Takeaways
Diversify a points earning strategy to maximise the points you can earn.
Be aware of the offers that are available (I do this for members by sharing the best ones!)
Take advantage of the offers that provide 'good value' by weighing up the costs vs the benefits. Again for me the KEY is to earn points for less than 1c each (10 000 points = $100)
Have ZERO loyalty, shop around and don't be afraid to change providers.
Always be aware of the T&Cs so you don't get caught out.
Have a reminder system in place to check bonus points have been allocated in the specified timeframes and to then cancel policies as required.
If you happen to have any questions or feedback about this article please leave a comment or send me a message for clarification.
