Rewards programs may seem like an extra step, but you could be stepping your way towards saving money. Whether you return to the same retailer multiple times each week or only once per year, there is no reason why you shouldn’t be across the relevant rewards programs.
Here are four types of rewards programs you could join today and why you should think about signing up.
1. Grocery rewards programs
Thanks to Australia’s grocery store duopoly, most of us have a Coles or Woolworths within a few kilometres. In fact, according to Roy Morgan survey data, in 2018 Coles and Woolworths shared more than 60% of Australia’s total grocery market. So, what’s the difference in programs and how easy is it to earn points?
Woolworths Rewards
Earn rate: 1 point per dollar spent at Woolworths, BWS, participating Caltex and Caltex Woolworths fuel outlets, and BIG W.
Convert points into: Qantas Frequent Flyer points or Woolworths gift cards.
Fuel: You can also get a 4c per litre fuel discount at participating Caltex and Caltex Woolworth fuel outlets when you spend $30 or more in one transaction at Woolworths.
Exclusions: Spend in Tasmania, on smoking products, gift cards, mobile recharge, travel cards, and delivery charges. You can read more about Woolworths Rewards exclusions and their full T&C’s here.
When you have earned 2,000 points, you can save $10 on your next eligible shop, save your points to get money off your Christmas shop, or you can convert your $10 reward into 870 Qantas Frequent Flyer points. These points will be transferred into your Qantas Frequent Flyer account each quarter.
Flybuys
Earn rate: 1 point per dollar spent at a number of partners including Coles, Kmart, and Target. You can find the full network of Flybuys Partners and points you can earn here.
Convert points into: A variety of rewards including Velocity points or Coles gift cards. You can find the full list of rewards here.
Exclusions: These vary between partners. You can read more by clicking through the Flybuys partner list.
Both Woolworths Rewards and Flybuys offer programs that reward repeat shoppers. By being a member of either program, scanning your card when purchasing eligible items at participating stores will earn you rewards. If you’re already a frequent Woolworths or Coles shopper, it might make sense to take advantage of these free-to-join programs.
2. Frequent flyers
Again, with the duopoly situation! (We really aren’t spoilt for choice sometimes as Australian consumers.) When it comes to Australian frequent flyer programs, both Qantas and Virgin have offerings, with both allowing you to earn points across a range of transactions.
Earning points across either program can be as simple as filling up a tank of petrol, signing up for a reward debit or credit card, or actually flying with the program’s flagship airline (or their domestic/international partners).
Qantas recently announced changes (the first in 15 years) to their Qantas Frequent Flyer program. Converting points into an economy rewards seat now requires less points and cash (but more points for upgrades like business class). Find more information on using your Qantas Frequent Flyer points here. Using Velocity points, you can get a one-way economy rewards seat with Virgin from 7,800 points (plus taxes, carrier charges and applicable fees). You can find out more about how to use your Velocity points on flights here.
Qantas: Frequent Flyer
Join fee: $99.50.
Partners: Browse Qantas’ A-Z list of partners and discover ways you can earn or use your Qantas points.
Convert points into a variety of rewards including: Seat upgrades, reward seats, or purchase items through the Qantas points store (for household appliances, computers, phones, and more.)
Virgin: Velocity
Join fee: Free.
Partners: A number of partners across different categories, including airlines, credit card providers, and hotels. You can see the full list here.
Convert points into a variety of rewards including: Seat upgrades, reward seats, or purchase items through the Velocity Rewards points store (for household appliances, computers, phones, and more.)
3. Cashback
Cashback and cash rewards programs are amongst the newer entrants when it comes to reward programs. They are slightly different to other programs. They typically require you to enable last-click tracking, which more or less means you shop through a cookie-tracked affiliate link.
Instead of saving up reward points, you simply get cash back for eligible transactions (this can vary from 0.5% to more than 20%). The cash can sometimes take a while to actually arrive in your cash reward account (as retailers have to ensure they get paid and you don’t return your item). The length of time varies from store to store.
The cash will be credited to your cashback account. After you’ve earned a certain dollar value of credit (usually at least more than $10), you can withdraw that money into your bank account. There might also be some daily withdrawal limits imposed by the cashback provider you use, so make sure you’re across all the T&Cs. To achieve all this cash-back goodness, the cashback provider takes a small cut of the total transaction, passing on the savings to you and bringing business to the retailer. A win-win-win scenario indeed.
Shopback
Deals we found in July 2019:
Apple: 1.5% cashback
Microsoft: Up to 5.5% cashback
Adidas: 8% cashback
Nike: 7% cashback
Exclusions: Remember to read the T&Cs for each offer to ensure you are eligible for cash back on your purchase.
Cashrewards (online purchases)
Deals we found in July 2019:
Apple: 1.5% cashback
Microsoft: Up to 5.2% cashback
Adidas: 5.5% cashback
Nike: 5.6% cashback
Exclusions: Remember to read the T&Cs for each offer to ensure you are eligible for cash back on your purchase.
4. Other rewards programs
In addition to the more mainstream rewards programs, you might be entitled to student or staff discounts, local memberships based on where you live, or free goodies and discounts on your birthday. Always be sure to check before purchasing (especially online) if there are discount codes you can use or membership programs on offer.
Finally, don’t stress. If you can’t keep track of all your rewards numbers and cards, apps such as Stocard are great to slim down your purse or wallet and collect reward points at the click of a button. Stay thrifty and stay on top of the latest deals!
