Any experience with Qantas Cash bonus points?

Hello, Qantas Cash is currently offering up to 40,000 bonus FF points (2 points for every $ over $500 up to a maximum of 40,000 points) for loading foreign currency. I’ve had a quick look at the fine print and it seems that I could load 20k of foreign currency and transfer it back to my bank account without incurring any fees and still get the points. Anyone done this?

interesting question. I’d be interested to know the answer. but isn’t there a conversion rate they would apply to put back in AUD. I find Qantas cash exchange rates not the best, hence how they can afford to give away points.

I have heard the same with regards to worse fx rates than usual.

I would think you would lose from fx rate through buying and selling. Otherwise, it would be a wonderful hack.

If you find that AUD20k-> foreign currency->AUD20k, please report back. I am sure there would be many interested parties here. However, I have my doubts as there is no sustainable free lunch in my picture of the world. Happy to be proven wrong.