Is the Qantas Travel Money Card offer of 40,000 Qantas points worthwhile?

What’s to stop you loading $20,000 AUD worth of any foreign currency onto a Qantas Travel Money Card, and then just straight away transferring the $20,000 straight back off the card and straight back to your bank account? You’d get 40,000 points for having “loaded” $20,000 AUD in foreign currency onto it (even though you straight away transfer it back out of the card and back to your bank). Am I missing something here, or is this an easy 40,000 points? I don’t have any use for a travel card so I don’t understand how they work, but is this an easy 40,000 points?

Hi @graham

I’m afraid that yes, you’re missing something, and what you’re missing is the exchange rates that Qantas charges to transfer money into a foreign currency, and then back again.

Of your original $20,000, if you transfer it into a foreign currency and then back, you’ll end up with about $18,000. You’ll have paid $2000 for your 40,000 points: a whopping 5 cents per point.

This thread from last year explains things in more detail.

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Thanks sixtyeight. As they say, if it sounds too good to be true it usually is! Thanks for the link to your earlier response and for explaining it so well.

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