Rewards points can be a great way to get your hands on some serious goodies, but did you know that you don’t need a rewards credit card to rack them up? Nowadays, there are a number of products out there with points earning potential, including savings accounts, car loans, and even home loans.
And if you’re looking for a provider that offers all three, look no further than Qudos Bank. Along with its Visa Platinum Credit Card, points lovers can also sign up for the Qudos Bank Qantas Points Saver, Qantas Points Car Loan and Qantas Points Home Loan.
Of these, the last one might be your best ticket to maximising your points. With the Qudos Qantas Points Home Loan, you’ll nab 150 Qantas Points each year for every $1,000 of your loan balance. That means if you’ve got $400,000 remaining on your loan, you can expect to rake in a whopping 60,000 Qantas Points that year.
How many points can you earn on your home loan?
There aren’t that many home loans on the market that give borrowers the chance to score rewards points, but two others on our radar are those offered by Macquarie Bank and Virgin Money.
*Points earning only, does not take into account the value of points when being redeemed.
How do these stack up to the Qudos Qantas Points Home Loan? Well, if you’re borrowing $500,000 with a Macquarie home loan, you can earn 50,000 Qantas Points in the first year, and 160,000 total over five years.
With Virgin Money, you can earn 62,000 Velocity Points in the first year and 140,000 over five years on a $500,000 home loan.
While both are great deals in their own right, they’re outperformed on the points earning front by Qudos. If you’ve taken out a $500,000 home loan, you’ll be able to net 355,600 Qantas points over five years, including over 74,000 in the first year alone*.
*Based on a $500,000 loan over 30 years at the relevant interest rate and monthly repayments for each product. Information correct as of 18 February 2020. Number of points has been rounded down to the nearest 100 points.
What will those points get you?
Serious rewards lovers probably know exactly where those points will be going, but if you need some inspiration or you're having trouble wrapping your head around the numbers, let's put it in perspective. After one year with a Qudos Qantas Points Home Loan, you’ll have enough points to get you^: