Are you sitting on a travel goldmine? New research reveals the average Australian holds around 73,000 frequent flyer points valued at up to $3,000 from airline loyalty programs and credit card rewards, but most fail to cash in.
A new TravelInsurance.com.au survey showed one in four (26%) Australians use their frequent flyer points for travel occasionally, but don’t keep track of their balance, while a further 18 per cent of Aussies collect travel points regularly, but rarely redeem them.
Even worse for travellers and loyalty scheme marketing, 15 per cent don’t understand how frequent flyer programs work and are missing out on free travel opportunities.
However, the survey found that two in five Australians (41%) maximise their points by earning and redeeming them strategically.
With more than 16 million members, the Qantas Frequent Flyer program is Australia’s biggest airline loyalty program, followed by Velocity Frequent Flyer with 12 million members.
Around 73,000 frequent flyer points can have a dollar value of between $500 to $3,000, depending on the airline, cabin class and how you redeem your points.
That’s enough for several domestic flights or a return trip to Asia, TravelInsurance.com.au CEO Shaun McGowan said, but only if points are tracked and redeemed effectively.
“If you’re not tracking or redeeming them strategically, you could be leaving serious value behind. The survey found that 22 per cent of Australians don’t even know their points balance, so that’s thousands of dollars in unused travel sitting idle,” he said.
Top tips for maximising frequent flyer points include checking the balance every 12 months, using a rewards credit card for everyday spending, looking for double points promotions, comparing redemption options and linking your frequent flyer number to all booking sites.
