Is Qantas Cash worth it?

8 replies

oruspicarous

Qantas - Qantas Frequent Flyer

Member since 18 Jun 2015

Total posts 30

Is Qantas Cash worth it?

Hi, been looking at the Qantas Cash card, and was thinking is it worth it to use overseas (not domestic since it's kinda bad here). Thansk!

Michael Kao

Qantas - Qantas Frequent Flyer

Member since 06 Nov 2014

Total posts 155

If you have no other points earning credit card and you want to earn points, then yes. Otherwise it is just a debit card with very poor earn rate.

IMO, it is better value to use Citibank's saving account to withdraw cash overseas as there is no transaction fee and ATM fee, but you have the risk of AUD falling even further.

Hayden

Qantas - Qantas Frequent Flyer

Member since 28 Jan 2015

Total posts 94

But with the Qantas cash card you lock in the exchange rate when you load currency, thereby removing the risk of currency depreciation.

I have used it in the past and i find it to be quite a good card, and on par with most of the other travel money cards, and the earn rate isnt to bad when making purchases overseas

Michael Kao

Qantas - Qantas Frequent Flyer

Member since 06 Nov 2014

Total posts 155

There is also risks involved with locked exchange rate. What if AUD goes up? It's always a risk that people will need to make a call themselves. I wish I can predict what is going to happen with exchange rate. But definitely it is for people who like to know how much they are paying for it, even if that means more out of pocket.

AusFlyer

Member since 10 Mar 2011

Total posts 137

I just used the Qantas Cash card when I travelled to the UK and found it really useful. Not only do you get to lock in the rate when you put the money onto the card, but you can also transfer money to other currencies which came in handy for me when I went to Europe and could transfer the remaining Pounds on the card to Euros. You get one point for every dollar spent overseas so the earn rate is not too bad and there are no transaction fees when you use it for purchases. I'll use it again.

moa999

Qantas - Qantas Frequent Flyer

Member since 02 Jul 2011

Total posts 835

Its about the same as most credit cards points earn-wise (which is good for a debit card)

Its FX fees are in line with credit cards (roughly 3-4%) which is better than Travelex but worse than some of the cheaper money changers (particularly in Asia) AND you can lock in rates, which is a bonus

Its free....

However in my mind the $ cost (via the FX fee) isn't worth it for the points you get versus the Citi Debit.

oruspicarous

Qantas - Qantas Frequent Flyer

Member since 18 Jun 2015

Total posts 30

thanks everyone for answers!! 

colin5353

Qantas - Qantas Frequent Flyer

Member since 03 Jul 2011

Total posts 85

I've used mine in NZ, Singapore and the USA without any problems, I do however prefer the Virgin option, mostly because for $10 you can get an extra card that doesn't have FF detail on it, so you have a spare if one gets stolen or goes missing. You can also selet a PIN that you want rather than the one the Qantascash issuer lumps you with. 

daveozsydney

Member since 17 Jun 2014

Total posts 21

I use the citibank prestige visa overseas as the 5 points per $ offsets the FX rate % they take and the ability to transfer to multiple airline programmes after you've checked availability.

Ironically it can make it more cost effective to buy online overseas with such a great earn rate - given the same price.

The best earn rate I've found anyway. The Citibank Signature is only slightly behind on 4 per dollar.

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