An increasing number of Qantas Frequent Flyers are now carrying the Qantas Cash card in their wallet or purse, but how many are making the most of it?
The card’s main claim to fame is as a prepaid travel money card which stores up to 10 foreign currencies, but it can also be used in Australia and also earns a smattering of Qantas Points.
Here are three tips for getting the most from your Qantas Cash card.
On a side note, the same tips apply to Velocity Global Wallet card by Virgin Australia.
1. Earn points on an everyday basis
If you don’t have a credit care, the Qantas Cash card is an easy way to pick up Qantas Points for purchases in Australia, overseas, and even online.
For every $2 spent on the card locally, you’ll earn one Qantas Point, and one Qantas Point per A$1 dollar spent overseas (or on an international online shopping site which charges in foreign currency).
Take note that for spends under $10, you’re better off with the Bankwest Qantas Card, which earns five Qantas Points per transaction. A $5 purchase will earn you five points if you wave your Bankwest card but only 2.5 points using Qantas Cash. For spends of $10 or more, the Qantas Card comes out ahead.
2. Keep your account topped up
Because you’ll be using your Qantas Cash card everyday, you’ll want to keep a goodly chunk of Aussie dollars loaded onto it.
Set up an automated transfer from your bank account onto your card using BPay, and run it weekly or based on your salary payment cycle.
Even if you don’t use the Qantas Cash card in Australia, this makes for a very good holiday savings plan. Deposit $100 each week onto the card and you’ll end up with close to $5,000 set aside for your end of year overseas trip.
3. Buy overseas currency at top rates
Another reason to keep the card’s balance topped up is to take instant advantage of strong currency exchange rates.
If the Aussie dollar makes a sharp rise against the US dollar, you can transfer money right away from your Qantas cash card’s Australian balance to the US ‘virtual wallet’ well ahead of an overseas trip.
Of course, you run the risk that the exchange rate may rise even further.