What you need to know when buying frequent flyer points

Published on June 15th, 2020
  Written by 
Bill Tsouvalas
Bill Tsouvalas is the managing director and a key company spokesperson at Savvy. As a personal finance expert, he often shares his insights on a range of topics, being featured on leading news outlets including News Corp publications such as the Daily Telegraph and Herald Sun, Fairfax Media publications such as the Australian Financial Review, the Seven Network and more. Bill has over 15 years of experience working in the finance industry and founded Savvy in 2010 with a vision to provide affordable and accessible finance options to all Australians. He has built Savvy from a small asset finance brokerage into a financial comparison website which now attracts close to 2 million Aussies per year and was included in the BRW’s Fast 100 in 2015 as one of the fastest-growing companies in the country. He’s passionate about helping Australians make financially savvy decisions and reviews content across the brand to ensure its accuracy. You can follow Bill on LinkedIn.
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Buying frequent flyer points

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Being part of a rewards program makes it easier to gain points that can be used towards paying off flights with your favourite frequent flyer program. Have you ever wondered if it was possible to gain points without necessarily having to board a plane? Perhaps you need a boost to get a reduced amount on a flight that you have been planning all year? Here is what you need to know.

Know which frequent flyer programs sell points

Why wait to catch your next flight to build your frequent flyer points when you can buy them? This has given many frequent flyer cardholders the flexibility to earn points more conveniently. However, knowing which programs allow you to do this can make the process less complex.

Qantas, Velocity, Asia Miles and KrisFlyer currently do not have an option where you can earn directly through their programs, but there are international programs that allow you to purchase points which can be transferred to a local frequent flyer program that you belong to.

For example, if you belong to KrisFlyer, Velocity, or Asia Miles it is possible to buy your points through Starwood Preferred Guest or American Express Membership Rewards. If you are Qantas member you can do this through Membership Rewards as a Platinum Charge cardholder.

Time your purchase

Knowing when to time your purchase is essential to make the most of your points. You will usually get more value for your money when you buy points that are on promotion. The benefit of buying your points when they are on promotion is that you can bag 30% more points for the same price which can work in your favour. It is also possible to get a discount on the price for points, making you get the best of both worlds. Remember to always compare your options to see if you are getting the best value for money.

See what is on offer in terms of sign up benefits

Many frequent flyers programs have sign up benefits such as gaining bonus points or getting a discount that can work in your favour when looking for something to help discount your next trip. It pays to know which program has the best sign up benefits and how long these promotions are running for. This researching and comparing will become your best friend. Keep in mind to check the terms that come with such sign up promotions as some only last for a certain period of time or have expiration dates on the points.

Plan around your trips

Travelling overseas anytime soon? Planning your trips around being able to buy points from international frequent flyers programs when they are on promotion can be a big win. Be careful of being caught in the fallacy that this can work for long term travelling plans as frequent flyer programs are known for switching up the terms to their programs which can throw any plans out of the window. Being able to redeem your points to use them as soon as possible can work in your favor in the long run.

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This guide provides general information and does not consider your individual needs, finances or objectives. We do not make any recommendation or suggestion about which product is best for you based on your specific situation and we do not compare all companies in the market, or all products offered by all companies. It’s always important to consider whether professional financial, legal or taxation advice is appropriate for you before choosing or purchasing a financial product.

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