WEBVTT - What is Points Hacking? 0:00:00.640 --> 0:00:00.960 Hello. 0:00:01.520 --> 0:00:05.000 My name's Santasha Nabananga Bamblet. I'm a proud yr the 0:00:05.120 --> 0:00:08.720 Order KERNI Whoalbury and a waddery woman. And before we 0:00:08.800 --> 0:00:11.440 get started on She's on the Money podcast, I would 0:00:11.480 --> 0:00:14.480 like to acknowledge the traditional custodians of the land of 0:00:14.520 --> 0:00:18.640 which this podcast is recorded on a wondery country, acknowledging 0:00:18.680 --> 0:00:22.560 the elders, the ancestors and the next generation coming through. 0:00:23.040 --> 0:00:27.120 As this podcast is about connecting, empowering, knowledge sharing and 0:00:27.200 --> 0:00:30.560 the storytelling of you to make a difference for today 0:00:31.040 --> 0:00:32.599 and lasting impact for tomorrow. 0:00:33.280 --> 0:00:34.080 Let's get into it. 0:00:34.760 --> 0:00:54.040 She's on the Money, She's on the Money. 0:00:57.800 --> 0:01:00.880 Hello, and welcome to She's on the Money, the podcast 0:01:00.960 --> 0:01:04.560 Millennials who want to Financial Freedom. My name is Jessica 0:01:04.640 --> 0:01:09.280 Ricky and as always I am joining finance expert Victoria Devine. 0:01:09.480 --> 0:01:12.840 Hello is jessicari G. How are you You say your name? 0:01:12.920 --> 0:01:13.440 Really weird? 0:01:13.560 --> 0:01:13.840 Do I? 0:01:14.040 --> 0:01:14.240 Yeah? 0:01:14.240 --> 0:01:17.640 You don't say it correctly? Not Ricky. Come on, someone 0:01:17.680 --> 0:01:19.559 actually DMed me the other day. We went to school 0:01:19.560 --> 0:01:20.800 together and she's like, I didn't know that was how 0:01:20.840 --> 0:01:22.880 you said your name, And I'm like, I mean potato, Potato, 0:01:22.959 --> 0:01:26.680 it's the same same. But if somebody calls me Victoria Devine, 0:01:26.800 --> 0:01:28.920 I get real salty. So I don't know how you 0:01:28.959 --> 0:01:31.600 don't get salty. And the fact that peer pressure has 0:01:31.600 --> 0:01:34.160 gotten you to a point where you literally just accept 0:01:34.319 --> 0:01:37.600 the wrong version of your name because it's easier. She's 0:01:37.600 --> 0:01:39.640 a doormat. What can we say? But today we're not 0:01:39.680 --> 0:01:42.840 talking about me. We are talking about points hacking, which 0:01:42.880 --> 0:01:44.960 is kind of fun. Is this real left field for 0:01:45.040 --> 0:01:46.880 she's on the money, I know. And it's not what 0:01:46.920 --> 0:01:48.880 you think. V It's not an episode about getting your 0:01:48.880 --> 0:01:51.960 rewards points stolen? Am I run? No, It is not 0:01:52.160 --> 0:01:55.320 about that. Albeit if you want to donate your Velocity 0:01:55.360 --> 0:01:58.600 points to me, you're more than welcome to. It's actually 0:01:58.600 --> 0:02:02.480 about maximizing the benefits of your points to get free stuff, 0:02:02.600 --> 0:02:05.400 which is obviously a money win for things like flights 0:02:05.440 --> 0:02:09.320 and upgrades and hotels and household goods and Jessica, you 0:02:09.520 --> 0:02:13.240 literally got a free entire kitchen aid. So we're gonna 0:02:13.280 --> 0:02:16.160 talk about that. We absolutely are. And with many of 0:02:16.200 --> 0:02:19.359 the biggest programs based around credit cards, I do want 0:02:19.360 --> 0:02:22.040 to preface something at the very top of this episode. 0:02:22.080 --> 0:02:25.640 We always, always, always say that credit cards are not 0:02:25.680 --> 0:02:28.880 for everybody. In fact, listen back to our most recent episode, 0:02:28.919 --> 0:02:31.280 it was on September twenty eighth, on the pros and 0:02:31.360 --> 0:02:34.640 cons of credit cards before going any further into this episode, 0:02:34.880 --> 0:02:37.919 because we're not here to promote you getting a credit card, 0:02:38.160 --> 0:02:40.480 but there are so many people in our community who 0:02:40.600 --> 0:02:43.640 have questions about points, and when you ask, we deliver 0:02:43.840 --> 0:02:46.560 one hundred percent. So for those who are inclined and 0:02:46.600 --> 0:02:48.400 do want to know more, we know that tons of 0:02:48.400 --> 0:02:50.720 people in our community are always talking about the best 0:02:50.760 --> 0:02:52.680 way to leverage their points, which is what we're going 0:02:52.760 --> 0:02:55.200 to chat all about today. And look, it's not about 0:02:55.360 --> 0:02:58.320 changing what you buy, how much you spend, or signing 0:02:58.360 --> 0:03:00.600 up for something that you actually can't forward. We don't 0:03:00.600 --> 0:03:02.400 do that in this house. It is not an option. 0:03:02.960 --> 0:03:05.120 This is about looking at these systems to see if 0:03:05.160 --> 0:03:07.760 there's a way of them not only suiting you, but 0:03:07.919 --> 0:03:11.360 benefiting you. And today's an introduction to how some of 0:03:11.400 --> 0:03:15.040 these systems operate and where you can get more information. Now, 0:03:15.120 --> 0:03:18.240 these deals are changing all the time, so the best 0:03:18.240 --> 0:03:20.680 thing that you can actually do is just check yourself. 0:03:20.840 --> 0:03:23.480 We will link a few point hack sites that have 0:03:23.560 --> 0:03:26.720 really good information and cross comparisons of credit card perks 0:03:26.720 --> 0:03:29.960 and loyalty programs for you. These sites will also list 0:03:30.040 --> 0:03:32.040 the top deals that they have found that run for 0:03:32.080 --> 0:03:34.320 a limited time. And we're going to look at the 0:03:34.360 --> 0:03:36.400 ways that you can earn points and break them down 0:03:36.440 --> 0:03:38.400 into some of the big things that you can use 0:03:38.480 --> 0:03:42.920 them on, so flights, online, shopping, hotel, loyalty programs, and 0:03:43.040 --> 0:03:46.280 we're going to look at flexible points, which really interests me. 0:03:46.560 --> 0:03:49.320 And then Jesse Garci in the second half of the show, 0:03:49.320 --> 0:03:51.800 we're also going to share your top point hacks that 0:03:51.880 --> 0:03:54.720 you sent in to us. Sounds great. Let's start by 0:03:54.720 --> 0:03:58.920 talking about those flexible points programs. What exactly are they? Okay, 0:03:59.040 --> 0:04:03.240 so simply flexible points programs, which actually is a mouthful 0:04:03.280 --> 0:04:06.120 to say, is a scheme where you earn points in 0:04:06.200 --> 0:04:09.320 a central account so later you can transfer the points 0:04:09.320 --> 0:04:12.760 to a range of different loyalty schemes such as frequent 0:04:12.800 --> 0:04:16.240 flyer programs, credits and gift cards. Most of the flexible 0:04:16.279 --> 0:04:19.719 programs in Australia are run by financial institutions like American 0:04:19.800 --> 0:04:23.520 Express Member Rewards and Z Rewards and City Rewards, but 0:04:23.960 --> 0:04:27.920 supermarket loyalty schemes like Woolworths Everyday Rewards and fly buyers 0:04:27.920 --> 0:04:31.719 are also flexible points programs, and each flexible points program 0:04:31.800 --> 0:04:34.680 has a transfer rate between their own points and their 0:04:34.800 --> 0:04:38.080 partner's points or miles, which actually lets you send your 0:04:38.120 --> 0:04:41.240 points over to a partner program at fixed rates whenever 0:04:41.240 --> 0:04:44.600 you want to. So, for example, Jess two Amex points 0:04:44.640 --> 0:04:47.960 actually transfers over to one Velocity points, so it's basically 0:04:48.000 --> 0:04:50.880 like a two to one ratio. And most frequent flyer 0:04:50.960 --> 0:04:55.040 programs themselves don't offer flexible points. Once you earn points 0:04:55.080 --> 0:04:58.320 in that program, you can't move your balance between other programs, 0:04:58.360 --> 0:05:02.039 which is what makes flexible wis wards program so appealing. Yeah, 0:05:02.120 --> 0:05:04.960 let's talk about one of my favorite kinds of points, 0:05:05.000 --> 0:05:07.400 which is the two major supermarkets and their programs with 0:05:07.520 --> 0:05:10.920 the two major airlines. So it's your favor though flybys. Yeah, 0:05:11.000 --> 0:05:14.160 No Surprises, which just conveniently links to Virgin, which is 0:05:14.200 --> 0:05:18.040 our preference for flying, and then Willworth's Everyday Rewards which 0:05:18.080 --> 0:05:21.320 links to Quantests. Why have we got a preference for Virgin? 0:05:21.560 --> 0:05:23.320 I feel like I've been DMed this a lot of 0:05:23.320 --> 0:05:25.240 times just and it's literally just because the food in 0:05:25.240 --> 0:05:27.400 the lounge is better. They're really good, and I really 0:05:27.640 --> 0:05:31.080 like their This is so off topic, but they recently 0:05:31.440 --> 0:05:35.839 changed the uniform requirements to really inclusive, which I loved. 0:05:35.920 --> 0:05:38.120 I feel like that just really validated why we already 0:05:38.120 --> 0:05:40.279 flew with them, because people are just nicer, full stop. 0:05:40.320 --> 0:05:42.840 End of story. Sorry, sorry, sorry, but that contract tell 0:05:42.839 --> 0:05:45.360 me about Flybys all right. So Flybys is a very 0:05:45.360 --> 0:05:48.280 big and very long standing loyalty program that actually connects 0:05:48.400 --> 0:05:51.839 Coles and Virgin Australia, but it actually has so many 0:05:51.920 --> 0:05:56.440 more partners like Bunning's and Kmart and literally basically everything 0:05:56.520 --> 0:05:59.920 under the sun from my perspective, Earning Flybys points allows 0:05:59.920 --> 0:06:02.440 you to redeem them for a whole heap of rewards. 0:06:02.480 --> 0:06:06.159 So these include transferring them to Velocity points, or discounts 0:06:06.160 --> 0:06:08.800 on your next coals shop or retail items that you 0:06:08.839 --> 0:06:11.039 buy from the Flybys store Jess, which you would know 0:06:11.120 --> 0:06:14.640 a fair bit about the value of the points is 0:06:14.680 --> 0:06:17.160 not equal when spending them in different places though, so 0:06:17.240 --> 0:06:18.960 there are a lot of people who do these, like 0:06:19.040 --> 0:06:21.719 points hacking websites where they tell you where you get 0:06:21.720 --> 0:06:24.400 the best bang for your buck and they are the 0:06:24.520 --> 0:06:28.000 highest when you use them for Virgin flights. The you go, yeah, 0:06:28.040 --> 0:06:29.719 but did you know the best part about all of 0:06:29.760 --> 0:06:32.520 this what it's free. Like, you don't even have to 0:06:32.600 --> 0:06:35.600 have a credit card to start collecting Flybys points. You 0:06:35.680 --> 0:06:38.279 literally just get a card and scan it every time 0:06:38.320 --> 0:06:40.680 you check out. That's a dream, It's actually a dream. 0:06:40.720 --> 0:06:42.480 And I think that so many people think that they 0:06:42.520 --> 0:06:45.360 need a credit card to have any type of rewards points. 0:06:45.360 --> 0:06:47.479 But jess, why did you get your free kitchen aid 0:06:47.480 --> 0:06:49.960 mixer because I shopped a cult But like, did you 0:06:50.040 --> 0:06:51.240 pay anything for it? 0:06:51.360 --> 0:06:51.440 No? 0:06:51.560 --> 0:06:54.720 I used completely points, no credit card, no credit card, 0:06:54.760 --> 0:06:57.440 and no extra spending either. Tried and true. She just 0:06:57.480 --> 0:07:00.280 bought a whole heap of Ben and Jerry's. So then 0:07:00.279 --> 0:07:03.159 we've got Wilworths and Quantus and Everyday Rewards is the 0:07:03.200 --> 0:07:07.240 loyalty program of Wilworth Supermarkets BWS, Big w and Coltext, 0:07:07.240 --> 0:07:10.640 Willlworst Fuel and you earn points for each dollar spend, 0:07:10.680 --> 0:07:12.840 which can then later be redeemed for money off your 0:07:12.840 --> 0:07:16.960 Willworth's shop money win, or can be converted into Quantus points. Now, 0:07:17.080 --> 0:07:21.040 Everyday Rewards only has a few partners and set earn rates, 0:07:21.080 --> 0:07:23.720 so it's pretty simple and at the moment, you can 0:07:23.720 --> 0:07:25.680 get one point for every dollar that you spend at 0:07:25.680 --> 0:07:29.200 will Worth Supermarkets BAWS, so participat in cowtexs and cowtext, 0:07:29.240 --> 0:07:31.920 Willworths outlets and big w and online. That sounded like 0:07:31.920 --> 0:07:34.600 an ad and it absolutely wasn't. None of this is sponsored. 0:07:34.920 --> 0:07:37.240 How amazing would it be if we got paid to 0:07:37.280 --> 0:07:39.640 talk about points? Oh my god, that would be like 0:07:39.680 --> 0:07:42.760 the ultimate points hack. Anyone knows? Someone hit us up 0:07:42.880 --> 0:07:47.920 fly Bys please, I'm your biggest fan. Literally. So with 0:07:47.960 --> 0:07:50.200 the everyday rewards as well, you get rewards at every 0:07:50.240 --> 0:07:53.160 two thousand reward points that you earn, and there are 0:07:53.200 --> 0:07:55.840 three different ways that you can actually redeem your award 0:07:56.160 --> 0:07:58.240 so you can convert them to quantus points. You could 0:07:58.240 --> 0:08:00.200 get ten bucks off your next will Work shop or 0:08:00.280 --> 0:08:03.480 bank the value to Christmas and get multiples of ten 0:08:03.560 --> 0:08:06.440 dollars off your shop from December onwards, which happens to 0:08:06.480 --> 0:08:09.880 be a very very popular one in our community. Jess. Yeah. Now, 0:08:09.880 --> 0:08:11.800 I'm a creature of habit and I generally like to 0:08:11.800 --> 0:08:14.560 shop at one supermarket, but I know a lot of 0:08:14.600 --> 0:08:17.000 people like to shop at multiples that they can get 0:08:17.000 --> 0:08:19.920 the best to deal. Literally, can't be bothered. Now I go. 0:08:20.120 --> 0:08:23.360 There is a coals and an Audi basically side by side. 0:08:23.560 --> 0:08:25.800 Swing into Audi, get all of my favorite things because 0:08:25.800 --> 0:08:27.880 as you know, you can only get the good small 0:08:27.960 --> 0:08:31.120 cucumbers at the AUDI. Of course, we need to pick 0:08:31.200 --> 0:08:34.480 up a bottle of La mule Rose, not sponsored, honest 0:08:34.520 --> 0:08:37.120 to god, just good, and then I go get everything 0:08:37.160 --> 0:08:38.880 else are in coals and we are done. Like, I'm 0:08:38.880 --> 0:08:41.679 not going to multiple too. So that's better than the 0:08:41.679 --> 0:08:43.960 average bear, I'd say, I think so. If that's the case, 0:08:44.000 --> 0:08:46.720 if people are shopping multiple places, is it a bit 0:08:46.800 --> 0:08:50.200 cheeky to sign up for multiple programs? Absolutely not, jess 0:08:50.200 --> 0:08:51.520 You've got to be in it to win it. And 0:08:51.720 --> 0:08:53.720 if it was me, I would be signing up to 0:08:53.800 --> 0:08:56.440 all of the different programs that are offered by different 0:08:56.480 --> 0:08:59.040 places and just picking and choosing the offers that work 0:08:59.080 --> 0:09:02.360 for you. Honestly, from my perspective, I think so too. 0:09:02.520 --> 0:09:05.520 And a little pro tip from one Flybys user to another. 0:09:06.080 --> 0:09:08.160 If you have a Flybys card and you don't use 0:09:08.200 --> 0:09:10.840 it for a few months, generally speaking, you'll get a 0:09:10.880 --> 0:09:14.120 special loyalty prompt where it's like, spend seventy dollars in 0:09:14.160 --> 0:09:16.400 store and you get four thousand points to get you 0:09:16.480 --> 0:09:19.199 to come back. Oh that's genius. But like you would 0:09:19.240 --> 0:09:21.920 never know about that, Jessica, because you literally always use 0:09:21.920 --> 0:09:24.520 your flybys points. And do you know what happens guys? 0:09:24.559 --> 0:09:26.240 When we check out and she's with me and I 0:09:26.240 --> 0:09:29.200 don't have my card, she takes my points, not even 0:09:29.240 --> 0:09:32.000 sorry about it. But let's go to a really quick break, 0:09:32.000 --> 0:09:33.960 and when we come back, I want to talk through 0:09:34.120 --> 0:09:36.240 flights because I feel like that's something a lot of 0:09:36.240 --> 0:09:38.439 people that's interesting here for which is why we put 0:09:38.440 --> 0:09:40.320 it on the second side of the episode. Just it's 0:09:40.360 --> 0:09:43.480 called hook in the industry, smart from us. Don't go anywhere, guys, 0:09:43.520 --> 0:09:49.559 We'll see you in a minute. All right, thanks for 0:09:49.600 --> 0:09:54.040 sticking around, everybody. Let's chat all things flights. Victoria. You 0:09:54.280 --> 0:09:57.320 just mentioned flights as a reward for supermarket loyalty and 0:09:57.480 --> 0:10:01.000 flexible points programs, But how do the loyalty programs that 0:10:01.040 --> 0:10:05.120 are specifically for airlines work. So flights are a major 0:10:05.160 --> 0:10:08.120 across the board incentive for all of the programs that 0:10:08.160 --> 0:10:11.800 we are actually looking today, especially credit cards sadly, which 0:10:11.800 --> 0:10:15.280 are coming up next. But let's look into the airlines thing. So, 0:10:15.440 --> 0:10:19.119 frequent flyer programs are a massive source of revenue for airlines. 0:10:19.200 --> 0:10:23.360 In some cases, frequent flyer programs are more profitable than 0:10:23.360 --> 0:10:27.960 the actual airline itself. That's crazy, yeah, crazy right. The 0:10:28.000 --> 0:10:30.800 way frequent flyer programs make their money is by selling 0:10:30.800 --> 0:10:33.120 the points to companies who will then use them the 0:10:33.160 --> 0:10:36.480 points as a marketing tool to get you the consumer 0:10:36.600 --> 0:10:39.120 to use their service or buy their product. So if 0:10:39.160 --> 0:10:41.440 you and you to the points hacking game, your first 0:10:41.440 --> 0:10:44.440 step is to join a free frequent flyer program. So 0:10:44.480 --> 0:10:46.880 you need to decide which frequent flyer program you want 0:10:46.880 --> 0:10:49.959 to align yourself with. In Australia there are two main ones, 0:10:50.200 --> 0:10:53.400 so we've got Quantus Frequent Flyer and Velocity Frequent Flyer, 0:10:53.440 --> 0:10:56.720 which is with Virgin Australia. Arguably I wouldn't be signing 0:10:56.840 --> 0:11:00.400 up for both because flights are expensive, Jess. And then 0:11:00.440 --> 0:11:02.960 you're just dividing the ability to get to a higher 0:11:03.000 --> 0:11:05.920 status sooner. But you do, you boo. It's free and 0:11:06.000 --> 0:11:08.839 easy to join Virgin Australia and if you go on 0:11:08.880 --> 0:11:11.480 the Quantus website, it will tell you that it's ninety 0:11:11.559 --> 0:11:14.240 nine dollars fifty as a fee to sign up, but 0:11:14.400 --> 0:11:16.320 there are many different ways that you can actually join 0:11:16.360 --> 0:11:18.839 for free. There are some links in our show notes. 0:11:18.880 --> 0:11:21.360 You're welcome and if you've forgotten just google it. It 0:11:21.440 --> 0:11:24.040 is very very easy. Yeah, there are definitely tons of 0:11:24.040 --> 0:11:27.040 airlines out there, though not just in Australia that probably 0:11:27.120 --> 0:11:29.760 have programs that might benefit us as well. Right, yes, 0:11:29.880 --> 0:11:33.480 And we have just recently reaped the benefits of this ourselves, Jess, 0:11:33.520 --> 0:11:35.320 when we went to the US for work, and so 0:11:35.400 --> 0:11:37.000 we're not here all day. We're just going to really 0:11:37.040 --> 0:11:39.800 focus on Quantus and Virgin in this episode. But there 0:11:39.800 --> 0:11:42.160 are obviously lots and lots of different airlines that have 0:11:42.280 --> 0:11:46.000 lots of good opportunities for Australians to earn and transfer points. 0:11:46.280 --> 0:11:49.439 But remember when we traveled, Virgin had so many partner 0:11:49.480 --> 0:11:53.200 airlines that if we had lounge access with Virgin, we 0:11:53.280 --> 0:11:56.199 would get it somewhere else in a big capital airport. 0:11:56.520 --> 0:11:59.720 So money win from my perspective, absolutely, Now, if I 0:12:00.040 --> 0:12:02.480 can't afford to fly, or if I maybe just don't 0:12:02.520 --> 0:12:05.040 fly all that often, isn't it a bit of a 0:12:05.080 --> 0:12:08.560 waste of time joining a frequent flyer program? Haha? You 0:12:08.640 --> 0:12:11.959 might think so, But there are actually so many opportunities 0:12:11.960 --> 0:12:14.360 to collect points without flying. You can actually boost your 0:12:14.400 --> 0:12:18.080 frequent flyer balance pretty fast, Jess. In fact, it is 0:12:18.240 --> 0:12:21.760 actually possible to earn hundreds of thousands of miles per 0:12:21.840 --> 0:12:25.000 year without ever flying or setting foot into the sky, 0:12:25.480 --> 0:12:27.439 and you don't even need to spend points on those 0:12:27.480 --> 0:12:30.160 flights either. You do this by making your purchases through 0:12:30.240 --> 0:12:34.320 either the Quantus Shopping website or the Velocity Eastore portal 0:12:34.679 --> 0:12:38.160 or wherever the equivalent of the program's online stories. If 0:12:38.200 --> 0:12:40.560 you've been using our friends at shop back, then these 0:12:40.600 --> 0:12:44.200 actually work pretty similarly with both Quantus Shopping and Velocity 0:12:44.200 --> 0:12:46.360 E stores. You can actually just go to the homepage, 0:12:46.400 --> 0:12:48.480 log in, click on the retailer that you want to 0:12:48.520 --> 0:12:50.200 shop at, and you'll be told how many points you 0:12:50.280 --> 0:12:52.800 have per dollar, and then you'll be redirected to the 0:12:52.840 --> 0:12:56.560 retailer through the loyalty program's portal. It's honestly really easy. 0:12:56.720 --> 0:12:59.120 You then complete your purchase as normal and make sure 0:12:59.200 --> 0:13:01.200 once you've checked out, you sit tight wait for a 0:13:01.240 --> 0:13:03.559 few weeks for the points to transfer to credit and 0:13:03.600 --> 0:13:06.559 your stuff to arrive in your mailbox. You're locked mailbox 0:13:06.600 --> 0:13:10.360 after last week's episode. Absolutely, Now can you run me 0:13:10.400 --> 0:13:12.760 through VD? What are the affiliated airlines that you can 0:13:12.800 --> 0:13:15.400 get points through with quantusm Virgin There are a fairview 0:13:15.520 --> 0:13:18.280 so Quantus you can earn in redeem points with airlines. 0:13:18.320 --> 0:13:21.199 For example, you can do it with Emirates, Cathe Pacific 0:13:21.320 --> 0:13:23.600 and American Airlines, as well as a whole heap of 0:13:23.640 --> 0:13:27.000 non airline partners. And then Virgin they partner with airlines 0:13:27.040 --> 0:13:30.720 like Singapore Airlines, Eddie Had and Delta. Yeah. Incredible. Now 0:13:30.960 --> 0:13:34.480 let's get into it. Arguably the biggest rewards scheme out 0:13:34.480 --> 0:13:37.520 their credit cards. And again we're just giving you a 0:13:37.559 --> 0:13:39.680 really brief overview and then you can go and do 0:13:39.720 --> 0:13:42.559 your own research, because we're definitely not recommending that you 0:13:42.600 --> 0:13:45.320 get a credit card just for points, because not only 0:13:45.360 --> 0:13:47.000 do you need to make sure that choosing a credit 0:13:47.000 --> 0:13:50.320 card aligned with your values, but the offers available and 0:13:50.360 --> 0:13:52.800 the nuancewers of how they work and how long they're 0:13:52.800 --> 0:13:57.280 available for are all so specific and they change constantly 0:13:57.320 --> 0:14:00.240 depending on the card. But there are some unif buying 0:14:00.320 --> 0:14:02.720 themes out there that we can touch on right there. Yeah, 0:14:02.760 --> 0:14:05.640 of course, so we won't really talk about the specific cards, 0:14:05.679 --> 0:14:08.559 but more what they generally offer and how they work. 0:14:08.679 --> 0:14:11.000 So most banks and credit card companies will try and 0:14:11.040 --> 0:14:13.280 compete in the market to win you over by offering 0:14:13.360 --> 0:14:15.439 really big sign up points. You've probably seen it before, 0:14:15.480 --> 0:14:17.400 like sign up and spend X y Z in your 0:14:17.400 --> 0:14:18.959 first three months, and you get like one hundred and 0:14:19.000 --> 0:14:22.000 fifty thousand points, which is just worth a return trip 0:14:22.040 --> 0:14:25.840 to New York. Like it's really interesting, also really sexy. 0:14:26.120 --> 0:14:28.440 But this means that you can also earn hundreds of 0:14:28.480 --> 0:14:31.320 thousands of Frequent Flyer points with a single sign up, 0:14:31.360 --> 0:14:33.760 and that's kind of a money win if you're already 0:14:33.800 --> 0:14:35.920 going to do that. So if you're looking at a 0:14:35.920 --> 0:14:38.400 credit card and you're like, oh, I just really don't 0:14:38.400 --> 0:14:40.480 know what one to go with, like maybe look at 0:14:40.480 --> 0:14:44.120 the features and benefits of systems like this that could 0:14:44.160 --> 0:14:47.000 actually help you with a goal that you're working towards anyway, 0:14:47.080 --> 0:14:48.840 Like if you've got a New York trip on your 0:14:48.880 --> 0:14:51.640 goal list, maybe that's something that can get you there quicker. 0:14:51.760 --> 0:14:54.560 They also often offer, depending on the level of the card, 0:14:54.640 --> 0:14:58.440 either free ongoing lounge access or several passes per year. 0:14:58.720 --> 0:15:01.440 So I know, through the Quan credit cards, like they 0:15:01.520 --> 0:15:03.880 absolutely give you a few passes per year if you've 0:15:03.880 --> 0:15:07.000 gotten AMEX. Usually it's just unlimited access for you and 0:15:07.080 --> 0:15:09.080 a partner, which is kind of cool if you fly 0:15:09.240 --> 0:15:11.960 all the time, and that's a value to you. Some 0:15:12.080 --> 0:15:15.040 offer money for free flights and dining, and some offer 0:15:15.120 --> 0:15:18.520 insurance and other perks like phone screen replacements and reduced 0:15:18.600 --> 0:15:20.640 or free account fees for the first year, or they 0:15:20.680 --> 0:15:23.120 offer cash back, which is obviously a great money win. 0:15:23.320 --> 0:15:25.920 Plus points of course, don't have to be used just 0:15:26.000 --> 0:15:28.600 on flying, Like you literally bought a kitchen aid mixer 0:15:28.760 --> 0:15:31.720 for your kitchen during lockdown, you know, like we didn't 0:15:31.760 --> 0:15:34.960 need to fly anywhere, and she's still reaping the benefits absolutely. 0:15:35.200 --> 0:15:37.360 So let's say I've done my research, I'm like, oh, 0:15:37.440 --> 0:15:39.520 i want to go to New York, and I've decided 0:15:39.520 --> 0:15:41.360 that signing up for a credit card works for my 0:15:41.440 --> 0:15:43.680 budget and my lifestyle, and I want to get into 0:15:43.680 --> 0:15:46.080 the whole points hacking thing. What do I need to 0:15:46.080 --> 0:15:46.760 be keeping in mind? 0:15:46.960 --> 0:15:47.360 All right? 0:15:47.440 --> 0:15:50.400 So the first thing that question gives me mad anxiety 0:15:50.440 --> 0:15:53.000 because I feel like so many times people are like, oh, 0:15:53.000 --> 0:15:54.480 I'm going to do it so I can budget and 0:15:54.480 --> 0:15:56.200 cash flow better, and then it just doesn't work out 0:15:56.240 --> 0:15:58.680 so well. So we need to be really, really really cautious, 0:15:58.720 --> 0:16:00.680 and we need to make sure that we stay in 0:16:00.680 --> 0:16:03.360 control of our finances and our budget. So we are 0:16:03.440 --> 0:16:06.280 going to prioritize our budget and cash flow and paying 0:16:06.400 --> 0:16:11.160 everything off and only putting really necessary purchases on a card. 0:16:11.480 --> 0:16:13.720 It's really really easy, and I feel like I'm just 0:16:13.800 --> 0:16:16.480 getting a bit randy here, but it's really easy to overspend. 0:16:16.560 --> 0:16:19.560 So it is honestly so vital that you know what 0:16:19.600 --> 0:16:22.000 you can afford and you pay your credit card balance 0:16:22.080 --> 0:16:25.280 in full every single month and you're not spending beyond 0:16:25.320 --> 0:16:28.040 your means. So if you are, and you are a 0:16:28.080 --> 0:16:30.840 responsible human adult, which I am not jes A GRICI, 0:16:31.240 --> 0:16:33.560 you could choose to spend every single dollar on your 0:16:33.600 --> 0:16:35.640 card and then transfer from your account to pay that 0:16:35.680 --> 0:16:38.080 balance off in time. You can also put it on 0:16:38.160 --> 0:16:40.640 direct debit so it happens automatically, so you don't even 0:16:40.680 --> 0:16:42.440 have to remember. It will just you know, if you 0:16:42.480 --> 0:16:45.280 spend five hundred dollars on groceries this month, it will 0:16:45.320 --> 0:16:48.760 automatically pay it off. Or every time you spend on 0:16:48.800 --> 0:16:50.840 your credit card, you could actually just log in and 0:16:50.880 --> 0:16:53.320 pay that amount off, so that you are, you know, 0:16:53.400 --> 0:16:56.120 making sure that you're aoka and all good, but it 0:16:56.240 --> 0:16:58.440 kind of keeps you accountable to make sure that with 0:16:58.600 --> 0:17:02.400 each purchase you actually have that cash there to transfer immediately. 0:17:02.640 --> 0:17:05.880 And if you set that system up, it's very unlikely 0:17:06.080 --> 0:17:09.240 that if you transfer for every single purchase, ever, you're 0:17:09.520 --> 0:17:12.400 very unlikely to put yourself in a position where it's 0:17:12.400 --> 0:17:15.680 getting beyond your control. So by doing this, it makes 0:17:15.680 --> 0:17:18.879 sure that you're not paying any interest, Jess. It's basically 0:17:18.920 --> 0:17:21.119 like shooting yourself in the foot, because if you're paying 0:17:21.240 --> 0:17:24.560 interest on a card where you're collecting frequent flyer points, 0:17:24.600 --> 0:17:28.480 it's probably going to render them absolutely useless. You'll also 0:17:28.560 --> 0:17:30.440 want to make sure that you're using the right card 0:17:30.480 --> 0:17:32.960 for the right transaction, so that you get the maximum 0:17:32.960 --> 0:17:34.919 points for every single dollar that you spend. I can 0:17:35.000 --> 0:17:37.679 imagine you just getting down and like calculating what is 0:17:37.720 --> 0:17:40.119 the best card to use and when at what period 0:17:40.119 --> 0:17:42.840 of year, and what benefits you're going to get, and 0:17:42.840 --> 0:17:46.760 what value and bonus there is. I just personally, not 0:17:46.840 --> 0:17:49.520 my circus, not my monkey's. Like, I know people do it. 0:17:49.560 --> 0:17:52.240 I know people enjoy it. I just don't have the time, energy, 0:17:52.240 --> 0:17:55.320 your effort for it. But for example, some cards will 0:17:55.320 --> 0:17:58.919 actually pay you one point five points per dollar if 0:17:58.920 --> 0:18:01.680 you're shopping at a super market. Well, others might only 0:18:01.680 --> 0:18:04.159 pay zero point five, So you want to be shopping 0:18:04.160 --> 0:18:06.520 with the one point five Yeah, exactly, And Jess would 0:18:06.520 --> 0:18:09.080 be all over that. Another thing that I have looked 0:18:09.080 --> 0:18:11.960 at before is check out pointshack dot com dot au, 0:18:12.119 --> 0:18:15.160 where there is honestly a great cross comparison of all 0:18:15.200 --> 0:18:17.359 of the credit cards that are out there. It shows 0:18:17.359 --> 0:18:19.560 you a whole heap of different offers that are available 0:18:19.600 --> 0:18:22.800 from like American Express and Visa and MasterCard and branded 0:18:22.840 --> 0:18:24.960 credit cards, along with a whole heap of in debth 0:18:25.000 --> 0:18:27.720 guides to each of the cards and the benefits and 0:18:27.840 --> 0:18:30.680 some of the cons. And I have a final little 0:18:30.720 --> 0:18:33.960 sneaky hot tip for you, miss just Gricci. Next time 0:18:34.000 --> 0:18:36.720 you're out, pick up the tap tell me more. Well, 0:18:36.840 --> 0:18:38.960 your friends will think you're fantastic because you're like, oh, 0:18:38.960 --> 0:18:40.480 don't worry, I'll pop it on my card and we'll 0:18:40.520 --> 0:18:43.600 work it out later obviously, then get them to repay 0:18:43.600 --> 0:18:46.520 you in cash and you walk away with the points. 0:18:46.720 --> 0:18:47.040 Gene. 0:18:47.119 --> 0:18:48.840 Yes, actually you mentioned that. I have a couple of 0:18:48.840 --> 0:18:50.480 friends who I reckon a're doing exactly and I'm not 0:18:50.520 --> 0:18:51.800 mad about it. I don't want to pay for a 0:18:51.840 --> 0:18:54.160 five hundred or a tab on my card and they're 0:18:54.200 --> 0:18:56.040 so happy to do it. It takes the stress out 0:18:56.040 --> 0:18:57.920 of it for everyone because we just figure it out, 0:18:58.040 --> 0:19:00.239 you know later, who over if you want. I've got 0:19:00.240 --> 0:19:03.359 to make sure that you've got trustworthy friends, because like 0:19:03.400 --> 0:19:05.280 offering to pick up the tab, like if I did 0:19:05.280 --> 0:19:07.720 that with you, I know I'm gonna get paid back. 0:19:07.840 --> 0:19:11.080 It's yes, she's good for it. She's not a douche. 0:19:11.480 --> 0:19:13.160