Hi Guys, I have my eyes set on the WestPac Qantas card which is offering 100,000 points.
On my next trip i plan to be spending around $5000 AU in Bali, which will hit the spend target straight away.
However i will be paying cash when i am there, how can i get points for currency ?
Does anyone know of a gift card that can be bought and then used at a currency exchange ?
I’ve been to Bali a dozen times in last few years and could not imagine any currency exchange taking gift cards. Someone please correct me if I’m wrong. They’re really only interested in cash notes and they need to be in good condition. I’m assuming you were intending paying for a gift card with your credit card. If so you should note that your bank will give you an exchange rate that is usually a good 2% below the going rate upon conversion. In addition to that, you will be charged O.S transaction fees of 3% which is $150 on your $5000 spend. Take a look at the following figures.
You spend AUD5000 in Bali using your Westpac card you will be charged an OS transaction fee at 3% = $150.00
You will earn 5000 x .625 points (OS earn rate per $ spend) = 3125 points.
Your points have cost $1.65 each ($5150 / 3125)
Ignoring the low conversion rate if you spend AUD5000 you will be paying $1.65 per point which is rather expensive! I guess however it is a quick way to cover your bonus points spend requirement.