Yak Rewards have teamed up with Qantas Business Rewards and are offering new Yak Pay users an opportunity to earn bonus 50,000 Qantas points. Note that you must have a Qantas Business Rewards account (not just the Qantas Frequent Flyer Account) to take advantage of this offer. Additionally, the offer is targeted at new Yak Pay users, those who have used Yak Pay previously are ineligible.
You can sign up to Yak Pay through this link. Membership is free and should only take you 10-15 minutes to create a new account. If you don’t have a Qantas Business Rewards account, you can sign up through Yak Pay for free (normally $89.50). Note that you must have an ABN to set up the account.
Once done, login to your Yak Pay account and link it to your Qantas Business Rewards account. It may take a day or so for Yak Pay to approve your account. Once approved, you are good to go.
Who is Yak Pay
Yak Pay is a Pay Anyone platform that allows businesses to pay their expenses using a points earning card and earn points at full rate on those payments. This is particularly useful where a supplier either does not accept credit card payments or does not accept a specific type of card, for instance American Express cards.
Yak Pay also lets you pay your credit card bills via their online portal using the bank transfer service and earn points on these payments. These points are over and above points you earn by putting spends on your card in the first place.
Limited time 50,000 Qantas Points Offer
Now that all state & territory borders are open & Australians are able to move around freely, 50,000 Qantas points can cover a lot of travel, or, you could save your points for later in the year when international borders are expected to open.
To pocket bonus 50,000 Qantas points:
- Sign up to Yak Pay & link your account to Qantas Business Rewards account (as explained earlier).
- Pay a minimum of $10,000 off your credit or charge card using the bank transfer service by 23rd April 2021.
Note that payments can be made across multiple cards, as long as they add up to a minimum of $10,000. It may take up to 14 days after your payment has been processed, for points to be credited to your Qantas Business Rewards account.
Is this a good deal?
If you paid-off exactly $10,000 in credit/charge card bill through the Yak Pay bank transfer service, it will cost you $66 in service fee ($10,000*0.66%, this is explained later) which in my opinion is not unreasonable to earn 50,000 Qantas points.
You can comfortably extract several hundred dollars (if not thousands) in value redeeming these points.
Redeem 41,500 Qantas points to fly Business Class on Qantas from Sydney to Perth
Yak Rewards Pricing & Points Earn
Like all payment platforms, Yak Rewards charges users a service fee which is dependant on the type of payment and source of funding. These are:
Payments made through bank transfers attract a service fee of 0.60%+GST (total 0.66%). You earn 1 Qantas point for every $3 in payments through this mode.
Credit Card Payments
Payments made through credit cards have variable pricing depending on the type of card.
- VISA – Payments made through Visa are subject to a service fee of 1%+GST (approx 1.10%). On this, you earn 1 Qantas point per $10 in payment to suppliers and 1 Qantas point per $7 paid to ATO.
- MASTERCARD – Payments made through Mastercard are subject to a service fee of 1.2%+GST (approx 1.32%). On this, you earn 1 Qantas point per $10 in payment to suppliers and 1 Qantas point per $7 paid to ATO.
- AMERICAN EXPRESS – Payments made through Amex are subject to a service fee of 2.15%+GST (approx 2.37%). On this, you earn 1 Qantas point per $10 in payment to suppliers and 1 Qantas point per $7 paid to ATO.
You can read more on pricing over here.
This is a great deal for anyone with Qantas Business Rewards account. If you are eligible, I would absolutely recommend you to go ahead and take advantage of this offer, at least for the initial 50,000 Qantas points.
In the long run though, whether or not the cost sufficiently justifies earning extra points using Yak Pay very much depends on your personal/business circumstances.
Do you plan to take advantage of this promotion? Leave a comment below.