Comparison website Finder has updated its Qantas Frequent Flyer analysis to find out how much 1000 Qantas points are actually worth. As expected, it depends on what you use them for, with the 'value sweet spot' working out to $20. Here's how far they can go depending on what you decide to purchase.
Finder recently analysed hundreds of products and flights to find the true value of Qantas Frequent Flyer points. Once again, the options that provide the best bang-for-buck are flight upgrades and first class tickets, with 1000 points roughly equating to between $40 and $60.
Purchasing an economy flight with points also works out pretty favourably at $20 per 1000 points. However, products and gift cards (available through the Qantas store) is the worst way to use your points. You're looking at just $3-$6 off for every 1000 points you spend.
In other words, if you put 10,000 point towards a food blender, you could be saving as little as $30 off the RRP. By contrast, the same number of points could shave $600 off a flight upgrade.
"You might be tempted by a free gadget and getting a Christmas present knocked off your list, but this is the worst way to spend your points," Angus Kidman, Finder editor-in-chief (and ex-Lifehacker editor) said to us. "Our research shows that using your points for economy flights is worth four times more than buying products like electrical goods and gift cards."
There is one caveat though: flight upgrades are generally much more difficult to redeem than a physical product off the Qantas Store. If your frequent flyer status isn't suitably high you could be in for a long wait.
"Upgrades offer the best points value, but they're very tough to attain if you're not a regular flyer. Saving up for a rewards flight is an easier tactic for most people."
The infographic below breaks everything down, from least to most value:
If you want to maximise your frequent flyer points, it's usually a good idea to keep track of the best ways to earn and redeem.
For those of us collecting Qantas Points, a savvy way to boost your balance is using Qantas Shopping for online and even in-store purchases.