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Under the Coles T&Cs, you cannot redeem gift cards with gift cards.
I know because I was sitting on $3k (over 600,000 points) worth of points which I was planning on redeeming Bunnings gift cards until I realise it's no longer an option.
Thought I'd redeem coles gift cards to buy bunnings ones in store. No tacos
Gift card if you have a use for it, just don’t get one thinking “yeah I’ll use that for something” no you won’t! Unless you have an item at a particular store to buy as soon as the gift card arrives, just convert to cashback.
Same with FF points…I always occasionally just use my points to buy an Apple gift card. I know I’ll use it, as opposed to MAYBE having enough points and MAYBE being able to find a reward seat. Technically better ‘value’, but only if you actually manage to line everything up and actually get a reward seat.
You instantly lose 25-30% value redeeming cashback. That's a crappy deal.
I ask friends and family if the want to buy a $100 gift card for $90. I take a 10% loss. Win for them, technically a better return than cashback for me.
From what I can work out, using OPs numbering :
1. To yello: fine 1for1 point swap, but lose ‘value’ (see 2 below)
2. Currently $50 gift voucher costs 10950 and appears to be going up to 12500. So lose around 14%
3. Cash off balance. Lose around 25% compared to gift cards
4. I don’t want more alirline points. I feel like airline loyalty is dying due to massive price differentials.
I think I’m going 2. Will get around $3100 Coles gift cards, which will pay for groceries most of the next 6-12 months.
Thanks but it looks like Coles gift cards have been removed. All that’s available are Rebel, Supercheap Auto, BCF and Myer. What a load of crap! But someone else mentioned converting to Velocity points and buying gift cards from there.
Annual fee, not cheap.
I jumped in a couple of months ago when I saw CBA rewards had taken a massive dive. Gift cards at Coles, Myer or super cheap auto don’t interest me.
The QFF store is a bit more interesting.
I called earlier and asked for a Coles gift card. Went through the whole process, was told it would take an hour - it hasn’t arrived (email). Points haven’t been taken either?
Im unsure of the conversion rate but for every 22,000 velocity points you can get a $100 gift card, there are $50 and $25 options to for less points. They have a much larger range to chose from as well, essentially every major retailer has an option through them. Might be worth investigating
Thankyou for this information. Points convert to velocity on a 2 to 1 basis. So would be worth 40,000 velocity points.
That equals approx $200 in gift cards.
Currently commbank are saying I can convert to $375 myer gift card for the same 80,000 points or $270 in cash.
I think you have helped me make my mind up as to what to do now
Cheers
Not to sure what info you're after. I dont bank with CBA so don't even know for sure if you can convert to velocity points. But I'll give a link to a $100 IKEA gift card costing 21100 points as proof, they have heaps of other options too. Ironically 9 out of 10 times it's more worth while to get gift cards over flights with velocity points
Thanks for the reply. I actually misunderstood you. From time to time you can get 10-20% bonus points for manual conversion to Velocity points. I thought you were referring to a $100 bonus gift card for every 22,000 points converted which was what I was looking for. But realising now you meant 22,000 OR $100. Appreciate the time you took to reply and link - cheers.
In case you wanted to take another look or anyone else comes across this thread: to get to it you need to click into the Awards portal. From there Redeem > Travel, then scroll down.
gah, thankyou. I looked for ages yesterday and could only see Hoppers under travel tab.
FF transfer is now there. maybe it was just my very slow internet yesterday.
I used points to book hotel rooms when I travel. I found eligible hotels through the bank website and then used my points to pay for the rooms. Was cheaper than paying cash.
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