Qantas Cash vs Air New Zealand Onesmart

Wellington on 31/10/2015 - 17:40

Qantas Cash has now launched in NZ. Similar to Air NZ's OneSmart, Qantas Cash is a extension of the Qantas frequent flyer program, involving a prepaid MasterCard which can be loaded with several 'wallets' of different currencies. I thought I'd compare the two below:

Points Earn Rate:
The earn rate on both the cards is quite simple. On the OneSmart card for every $200 you spend in NZ you earn 1 Airpoints Dollar. On the Qantas card you earn 1 'point' for every $2 spent in NZ. When travelling, on the OneSmart you'll earn 1 Airpoints Dollar for every 100 NZD, and on the Qantas card 1 point for every 1 NZD.
For purchasing flights Airport Dollars are equal to normal NZ dollars, and Qantas Points are worth on average 0.014748 NZD each.
If you spend $200 with the two cards in NZ, you'll earn the equivalent of $1 on OneSmart and $2.90 on Qantas Cash, dependant on the Qantas Point value at the time.

Fees and Rates
These vary on both OneSmart and Qantas Cash. I will list the different types of fees, and what they are on each card below: (all in NZD)
Monthly Account Fees:
Onesmart = $1, Qantas Cash = $0

Loading Fees:
Onesmart = Free via Internet Banking, Qantas Cash = Free

ATM withdrawals (domestic):
OneSmart= $2 per withdrawal, Qantas Cash = Free

ATM withdrawals (international):
OneSmart = 3 free per month then $3 each, Qantas Cash = $2.50 each (note that withdrawal fees vary depending on currency for both cards)

Currency Conversion Fee:
2.50% on both cards.

Exchange rates:
These vary, see websites for details.

Wallet Currencies
Both include Australian dollars, US dollars, Pounds sterling, Euro, Canadian dollars, Hong Kong dollars, Japanese yen and Singapore dollars.

Limits
Minimum Load:
OneSmart = none, Qantas Cash = $50

Withdrawal Limit:
OneSmart = $1000, Qantas Cash = $3000

Both cards have other limits, see websites for details.

Both cards seem to have benefits and weaknesses, the Qantas Card looks like the best for using in NZ as there are no fees for withdrawals, or any monthly charges. OneSmart might be best if you intend to withdraw overseas, as it includes 3 free withdrawals, otherwise the Qantas card might again be best as there is no monthly charge. It really just comes down to what airline you fly the most, for the points. Please note that Air NZ and Qantas are not partners, you cannot book Air NZ flights with Qantas points. You can however use Qantas points to book with JetStar (remember the price beat), you just have to use the Qantas website to search for flights. With JetStar launching new NZ routes next year, this could be very good for us consumers.

Websites:
Qantas Cash
Air NZ Onesmart
Qantas Main Site
Air New Zealand Main Site

Please note that the NZ Qantas cash program is seperate from the Australian program, and that the websites and apps are not interchangeable.

General Discussion Air New Zealand Air NZ MasterCard OneSmart Qantas Qantas Cash

Comments

  • Dunno on 31/10/2015 - 17:57

    Or go the way of free 1 year amex(providing you earn enough to qualify) and get higher points rates etc

    https://www.cheapies.nz/node/3778

  • kiwijunglist on 13/11/2015 - 14:34

    Im using asb true money rewards credit card. I got a 1 year fee free platinum when i shifted bank for my mortgage.

    Spend $100 get $1 true reward dollars.

    True rewards are exchanged at 1:1 ratio for gift vouchers to most major stores in NZ.

    So it's essentially a 1% cash back.

    • Kiwi on 13/11/2015 - 17:06

      What are the fees like for travelling though? ATM withdrawal / international conversion fee?

      The Amex Airpoints Express card has a 1% back through Airpoints, but no fees, so that's why I'm using that, but to withdraw from an ATM is $5 and standard 2.5% commission, which is better than most over the counter rates though.

  • kiwijunglist on 13/11/2015 - 17:16

    ASB True Rewards VISA

    Plat: Spend $100 - Get $1 true reward == 1.00% cash back (Fee $65+10 / 6 mo)
    Gold: Spend $130 - Get $1 true reward == 0.77% cash back (Fee $40+10 / 6 mo)
    Strd: Spend $150 - Get $1 true reward == 0.67% cash back (Fee $12+10 / 6 mo)

    The international conversion charge is 2.1%

    "Overseas transactions will either first be converted into US dollars and then into New Zealand dollars or converted directly at an exchange rate selected by Visa, from available wholesale rates (or, if applicable, the Government mandated rate). The Offshore Service Margin is a margin charged by us when you use your card to make an overseas transaction. For overseas transactions made using your Visa Debit card Offshore Service Margins of 2.10% of the converted New Zealand dollar amount of the transaction are charged."

  • kiwijunglist on 13/11/2015 - 17:25

    ANZ Cashback Platinum

    If I needed a new card and I had a guarantee to spend $1000 in the first 3 months then I'd go for ANZ Cashback Platinum Card.
    No fee and 20,000 points if meeting above requirement.

    Bascailly they will give you $125 gift in the form of cash back at the end of 3 months + an additional 1% cash back on all spends (including that first 3 months) for the first year with no credit card fee.

    Explanation:
    1. Get 20,0000 cash back points if spending $1000 in first 3 months.
    This means you will get back $25 (First 10,000 points) + $100 (Second 10,000 points) = $125 cash back for free.
    2. Because you are already over 20,000 points then everything you spend is 1% cash back rate (not the 0.5% for 5000-9999 tier)
    3. No fee for first year.

    • Kiwi on 13/11/2015 - 17:29

      That's not too bad really, although I wouldn't personally be eligible for a card like that since leaving my job.

      Is there a higher than 1% tier ?

      • kiwijunglist on 13/11/2015 - 18:20

        Nope

        The first $5,000 is no cash back.
        Then $5,000 to $9,999 is at 0.5% rate
        Then $10,000+ is 1.0% rate.

        The bonus 20,000 you get boosts you into the 1.0% rate.

        • Kiwi on 13/11/2015 - 18:21

          Ahh ok, I see where you get the $25 from now.

        • kiwijunglist on 13/11/2015 - 18:23

          I don't know of any scheme that gives you more than 1%.

        • kiwijunglist on 13/11/2015 - 18:23

          @Shaw:

          5000 x 0.0% + 5000 x 0.5% = $25

        • Kiwi on 13/11/2015 - 18:25

          @kiwijunglist:

          Yea, that's what I got too.

        • Kiwi on 13/11/2015 - 18:25

          @kiwijunglist:

          There are some that give you Airpoints at a better than 1% rate ($75:1) but not cashback only that I'm aware of.

        • kiwijunglist on 13/11/2015 - 18:27

          @Shaw:

          A lot of those airline points scheme can trade for vouchers.

          For qantas f.flyer
          13,500 - 14,500 points = $100 store voucher.

          If you calculate the conversion rate it ends up at 0.69% to 0.74%

        • Kiwi on 13/11/2015 - 18:31

          @kiwijunglist:

          Yea, I got ~$200 back on my Europe flights a few years ago on Qantas, even though the flights only cost $1,100.

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