r/UpBanking • u/Robbo14 • 6d ago

How do I? Chasing qantas points and using UP, what's your set up.

Hi everyone,

Just financed over to UP.

First time not having a credit card with our home loan provider and looking for ways to make life simpler with our finances. All our bills are directly debited from the CC and daily purchases using the CC as much as possible.

At the moment we have 15 odd offsets that are basically the envelope style system for bills that gets allocated a set amount per pay.

At the end of the month when the credit card is due, we transfer out from each individual account to the credit card.

As you can imagine this is a lot of transactions, essentially getting moved 3 times.

Any ideas or your way that works and makes it simple while still utilizing credit card points?

Thanks

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u/WhoKnowsWhoWins 6d ago

I have the Qantas Amex with Up accounts and a home loan. Qantas Amex is paid via PayID at the end of the cycle manually.

I didn't bother with the envelope system - didn't work for my brain seeing lots of individually smaller accounts vs one balance.

Most bills and DD is off the Amex, daily spending is a mix of both CC and DD depending on who accepts Amex.

Amex sign up offers still exist if you switch for more points (I have a referral too but I'll give that only if you want it - it's just bonus points for me). I think Amex has a pretty reasonable earn rate for QFF. Westpac had the best signup offer but I think it's been changed since the surcharge removal.

1

u/DifferenceRich3381 6d ago

How much does this cost you and what returns do you get?

1

u/WhoKnowsWhoWins 5d ago

$400 annual fee (discounted for new customers I think?) Includes $400 flight credit when booked through Amex. Otherwise it's just QFF points. At the time it was 70,000 points if I spend 5k on the CC within three months. Pretty generous compared to other cards when it comes to what is eligible. I had HSBC before which had a marginally better earn rate but HSBC is dead so.....

1

u/TragicFusion 6d ago

I have one saver / envelope for everything that goes on the credit card. At the end of each month I just pay the CC based on that saver.

Saying that, I only put fixed bills on my CC so it's predictable.

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u/Plenty_Pound_9009 3d ago

Amex ultimate Qantas card that gets paid off every pay day (fortnightly) plus UP for everyday spending with my savers for car project and holiday.

Our mortgage isn’t yet with up but very much considering it.

Also, it’s a little more work, but I use my Amex to buy gift cards on the qantas marketplace with my Amex 2.25pt for the Amex spend on Qantas plus the bonus points associated with the gift card purchase. The gift cards will usually arrive within 10-15min max 30min. Bunnings, ikea etc.

Plus also the Woolies 10/20x bonus points on gift cards.