I read about the amex qantas ultimate card via your site and applied for it last October. They gave me $450 travel credit to use against any QF flight.
upon checking the amex travel site which is the site i have to use this credit, for the same travel / destination, they are double, in some instances triple the price qantas site is showing.
I dont really think it is worth it for me to use this credit as i will be paying extra out of my pocket, probably cheaper to book it via Qantas direcct.
Not sure if it’s the same in your case but our $400 simply shows as a credit when we log into Amex Travel. The credit can be used for flights, accommodation, car rental or cruises. The only stipulation is that the booking needs to be equal to or greater than (in terms of cost) the credit amount. We find the best value is to use the credit for car hire or hotel accommodation.