Qantas Frequent Flyer & Velocity Frequent Flyer – First-party valuation | July 2026 version | Flight redemptions solely
CCAU Valuation Outcomes (July 2026)
Qantas Frequent Flyer: 2.47¢ per level (flight redemptions solely)
Velocity Frequent Flyer: 2.90¢ per level (flight redemptions solely)
Methodology: 7-route basket, trimmed imply (removes highest & lowest), flight redemptions solely. Examine: Our increased determine displays exclusion of low-value reward card and merchandise redemptions.
1. Goal and Scope
This doc establishes CreditCard.com.au’s first-party methodology for valuing Qantas Frequent Flyer (QFF) and Velocity Frequent Flyer (VFF) factors. It’s designed to:
- Produce a repeatable, updatable valuation every quarter
- Be clearly differentiated from third-party sources (AFF, Level Hacks) in scope and transparency
- Mirror the worth of factors to bank card clients — individuals accumulating factors particularly to redeem for flights
- Function the information spine for the frequent-flyer-credit-cards web page on creditcard.com.au
Scope: This system covers flight redemptions solely (economic system and enterprise class). It explicitly excludes reward playing cards, merchandise, lodge bookings, automobile rent, and Factors Plus Pay, which constantly return the bottom worth in each applications. That is the first distinction from AFF’s basket, which incorporates all redemption varieties.
2. How AFF and Level Hacks Calculate Their Figures
Understanding the prevailing methodologies is critical context for why CCAU’s figures differ.
Australian Frequent Flyer (AFF) basket methodology
AFF calculates a “trimmed imply” valuation throughout 16 redemption eventualities. Their basket intentionally contains each high-value redemptions (long-haul enterprise class) and low-value ones (reward playing cards, merchandise). The trim removes the best and lowest values earlier than averaging.
Their reported figures (as of December 2025): Qantas 1.6¢, Velocity 1.7¢. These are blended averages throughout all redemption varieties. The reward card ground (approx. 0.46¢ for QFF, 0.4¢ for VFF) considerably anchors the common downward.
AFF applies a ±20% qualitative weighting adjustment for elements like seat availability, program stability, and buyer expertise. That is subjective and never independently verifiable.
Level Hacks methodology
Level Hacks publishes valuations based mostly on a choice of actual redemptions. Their method is much less formally documented than AFF’s however equally blended throughout economic system, enterprise, and merchandise. In addition they contemplate alternative value (what the factors would earn in different applications) and seat availability.
Their figures align carefully with AFF’s, which suggests convergence on a broadly comparable basket composition. Neither organisation publishes the particular redemptions of their basket.
Why CCAU’s figures are increased
Key distinction: CCAU excludes reward playing cards and merchandise.
AFF’s basket contains redemptions returning 0.4–0.5¢ per level. Together with these redemptions is authentic for an ‘common throughout all makes use of’ metric, nevertheless it underrepresents the worth of factors to somebody who will solely redeem for flights. Our methodology solutions a unique query: “Should you earn these factors on a bank card and redeem them for flights, what are they price?” That determine is meaningfully increased.
3. Basket Building
We chosen 7 routes based mostly on three standards:
- Routes Australians really guide (home, Asia, Europe being the highest three worldwide locations by quantity)
- Protection throughout each economic system and enterprise class (premium redemptions are the place each applications ship their greatest worth, and plenty of bank card clients aspire to enterprise class redemptions)
- Routes the place each Qantas and Velocity supply redemptions (enabling like-for-like comparability)
| # | Route | Class | Distance | QF Zone | VA Zone | Money Fare |
|---|---|---|---|---|---|---|
| 1 | SYD → MEL (Economic system) | Home | 437 mi | Zone 1 (0–600 mi) | Zone 1 home | $179 |
| 2 | SYD → AKL (Economic system) | Trans-Tasman | 1,341 mi | Zone 3 (1,201–2,400 mi) | Zone 3 Trans-Tasman (1,201–2,400 mi) | $380 |
| 3 | MEL → DPS (Economic system) | SE Asia | 2,038 mi | Zone 3 (1,201–2,400 mi) | Zone 3 short-haul intl (1,201–2,400 mi) | $560 |
| 4 | SYD → SIN (Enterprise) | Asia (Enterprise) | 3,927 mi | Zone 5 (3,601–4,800 mi) | Zone 5 SQ/EY/QR (3,601–4,200 mi) | $4,200 |
| 5 | SYD → HND (Economic system) | Asia (Economic system) | 4,860 mi | Zone 6 (4,801–5,800 mi) | Zone 6 SQ/EY/QR (4,801–5,800 mi) | $1,100 |
| 6 | SYD → LHR (Economic system) | Europe (Economic system) | 10,561 mi | Zone 10 (9,601–15,000 mi) | Zone 10 SQ/EY/QR (9,501–15,000 mi) | $1,580 |
| 7 | SYD → LHR (Enterprise) | Europe (Enterprise) | 10,561 mi | Zone 10 (9,601–15,000 mi) | Zone 10 SQ/EY/QR (9,501–15,000 mi) | $9,500 |
Money fares: median non-peak mid-week one-way economic system (or enterprise the place famous), checked on Google Flights roughly 6 weeks prematurely, early July 2026. Provider prices sourced from program reserving flows on the identical date.
4. Method
Cents per level (cpp) = (Money fare − Provider prices) ÷ Factors required × 100
Provider prices are subtracted since you pay these no matter whether or not you employ factors or money. Solely the ‘factors worth’ element of the redemption is counted.
Remaining valuation = Trimmed imply of all 7 routes (removes the one highest and single lowest cpp earlier than averaging). The trimmed imply method is in keeping with AFF’s methodology and reduces the affect of outlier routes.
5. Labored Calculations
5a. Qantas Frequent Flyer
| Route | Class | QF Zone | Factors | Money | CC ($) | Web worth | cpp |
|---|---|---|---|---|---|---|---|
| SYD → MEL | Home | Zone 1 (0–600 mi) | 9,200 | $179 | $8 | $171 | 1.86¢ |
| SYD → AKL | Trans-Tasman | Zone 3 (1,201–2,400 mi) | 20,700 | $380 | $70 | $310 | 1.50¢ |
| MEL → DPS | SE Asia | Zone 3 (1,201–2,400 mi) | 20,700 | $560 | $150 | $410 | 1.98¢ |
| SYD → SIN | Asia (Enterprise) | Zone 5 (3,601–4,800 mi) | 82,100 | $4,200 | $280 | $3,920 | 4.77¢ |
| SYD → HND | Asia (Economic system) | Zone 6 (4,801–5,800 mi) | 36,200 | $1,100 | $320 | $780 | 2.15¢ |
| SYD → LHR | Europe (Economic system) | Zone 10 (9,601–15,000 mi) | 63,500 | $1,580 | $580 | $1,000 | 1.57¢ |
| SYD → LHR | Europe (Enterprise) | Zone 10 (9,601–15,000 mi) | 166,300 | $9,500 | $580 | $8,920 | 5.36¢ |
| Easy common | 2.74¢ | ||||||
| Trimmed imply (removes highest & lowest) | 2.47¢ | ||||||
Sorted cpp values (QFF): 1.5¢, 1.57¢, 1.86¢, 1.98¢, 2.15¢, 4.77¢, 5.36¢. Trimmed imply removes 1.50¢ (lowest) and 5.36¢ (highest).
5b. Velocity Frequent Flyer
| Route | Class | Companion / Zone | Factors | Money | CC ($) | Web worth | cpp |
|---|---|---|---|---|---|---|---|
| SYD → MEL | Home | Virgin Australia Zone 1 home | 8,900 | $179 | $10 | $169 | 1.90¢ |
| SYD → AKL | Trans-Tasman | Virgin Australia Zone 3 Trans-Tasman (1,201–2,400 mi) | 17,900 | $380 | $10 | $370 | 2.07¢ |
| MEL → DPS | SE Asia | Virgin Australia Zone 3 short-haul intl (1,201–2,400 mi) | 17,900 | $560 | $35 | $525 | 2.93¢ |
| SYD → SIN | Asia (Enterprise) | Singapore Airways Zone 5 SQ/EY/QR (3,601–4,200 mi) | 74,000 | $4,200 | $200 | $4,000 | 5.41¢ |
| SYD → HND | Asia (Economic system) | Singapore Airways Zone 6 SQ/EY/QR (4,801–5,800 mi) | 42,000 | $1,100 | $185 | $915 | 2.18¢ |
| SYD → LHR | Europe (Economic system) | Singapore Airways Zone 10 SQ/EY/QR (9,501–15,000 mi) | 80,000 | $1,580 | $310 | $1,270 | 1.59¢ |
| SYD → LHR | Europe (Enterprise) | Singapore Airways Zone 10 SQ/EY/QR (9,501–15,000 mi) | 158,500 | $9,500 | $435 | $9,065 | 5.72¢ |
| Easy common | 3.11¢ | ||||||
| Trimmed imply (removes highest & lowest) | 2.90¢ | ||||||
Sorted cpp values (VFF): 1.59¢, 1.9¢, 2.07¢, 2.18¢, 2.93¢, 5.41¢, 5.72¢. Trimmed imply removes 1.59¢ (lowest) and 5.72¢ (highest).
6. Notes and Assumptions by Route
- Route 1: SYD → MEL (Economic system)
- VA makes use of dynamic pricing; 8,900 pts is a consultant mid-range (revealed minimal: 5,900)
- Route 2: SYD → AKL (Economic system)
- QF provider prices ~$70 one-way; VA prices flat $10 provider price on VA-operated worldwide
- Route 3: MEL → DPS (Economic system)
- QF MEL-DPS provider prices ~$150; VA provider cost $35 for VA short-haul worldwide
- Route 4: SYD → SIN (Enterprise)
- VA through Singapore Airways; provider prices ~$130 USD ≈ $200 AUD for SQ enterprise
- Route 5: SYD → HND (Economic system)
- VA through Singapore Airways SYD-SIN-HND; provider prices ~$120 USD ≈ $185 AUD
- Route 6: SYD → LHR (Economic system)
- QF provider prices ~$580 one-way to LHR (important); VA through SQ ~$200 USD ≈ $310 AUD
- Route 7: SYD → LHR (Enterprise)
- Enterprise money fare median; QF provider prices similar as economic system (cabin-independent); VA through SQ ~$280 USD ≈ $435 AUD
7. Outcomes and Comparability
| QFF valuation | VFF valuation | Scope | |
|---|---|---|---|
| CCAU (this system) | 2.47¢ per level | 2.90¢ per level | Flight redemptions solely |
| Australian Frequent Flyer (AFF) | 1.6¢ per level | 1.7¢ per level | All redemption varieties (blended) |
| Level Hacks | ~1.6¢ per level | ~1.7¢ per level | All redemption varieties (blended) |
The CCAU determine is increased than AFF and Level Hacks as a result of we exclude reward card, merchandise, lodge, and Factors Plus Pay redemptions from our basket. That is intentional: our viewers is bank card clients who accumulate factors to redeem for flights. Together with reward card redemptions (which return 0.4–0.5¢ per level) in a mean used to guage a frequent flyer bank card creates a deceptive image of the worth proposition.
“CreditCard.com.au’s flight-only valuation: Qantas 2.47¢, Velocity 2.90¢. This determine covers flight redemptions solely — the redemption sort most bank card clients goal. AFF’s blended valuation (1.6¢ / 1.7¢) contains reward playing cards and merchandise, which pull the common down considerably.”
8. Award Chart Sources
Factors necessities sourced from official program charts.
Qantas Basic Flight Rewards (efficient 5 August 2025)
| Zone | Miles vary | Eco pts | Prem Eco pts | Enterprise pts | First pts |
|---|---|---|---|---|---|
| 1 | 0–600 | 9,200 | 13,800 | 19,300 | 29,000 |
| 2 | 601–1,200 | 13,800 | 20,700 | 29,000 | 43,600 |
| 3 | 1,201–2,400 | 20,700 | 31,100 | 43,600 | 65,500 |
| 4 | 2,401–3,600 | 23,300 | 34,900 | 68,400 | 102,600 |
| 5 | 3,601–4,800 | 29,000 | 43,600 | 82,100 | 123,200 |
| 6 | 4,801–5,800 | 36,200 | 54,300 | 98,400 | 147,700 |
| 7 | 5,801–7,000 | 43,200 | 64,800 | 113,900 | 170,900 |
| 8 | 7,001–8,400 | 48,200 | 72,200 | 130,100 | 195,100 |
| 9 | 8,401–9,600 | 58,900 | 88,300 | 151,800 | 227,800 |
| 10 | 9,601–15,000 | 63,500 | 95,200 | 166,300 | 249,400 |
Supply: qantas.com/classic-flight-rewards/tables.html (efficient 5 August 2025). Zones based mostly on one-way statute miles.
Velocity Award Pricing — chosen related zones
| Chart / Zone | Miles | Eco min | Eco max | Prem Eco | Enterprise | CC ($) |
|---|---|---|---|---|---|---|
| VA Home Z1 | 0–600 | 5,900 | 12,900 | 9,900 | 15,500 | $10 |
| VA Home Z2 | 601–1,200 | 8,900 | 18,900 | 14,900 | 23,500 | $10 |
| VA Home Z3 | 1,201–2,400 | 13,500 | 26,900 | 20,900 | 35,500 | $10 |
| VA Intl Brief Z1 | 0–600 | 7,900 | — | — | 15,500 | $10 |
| VA Intl Brief Z3 | 1,201–2,400 | 17,900 | — | — | 35,500 | $35 |
| VA Intl Z5 Trans-Pac | 3,601–4,800 | 27,900 | — | — | 59,500 | $35 |
| SQ/EY/QR Z5 | 3,601–4,200 | 29,000 | — | — | 74,000 | ~$200 |
| SQ/EY/QR Z6 | 4,801–5,800 | 42,000 | — | — | 89,500 | ~$185 |
| SQ/EY/QR Z10 | 9,501–15,000 | 80,000 | — | — | 158,500 | ~$310–$435 |
Supply: velocityfrequentflyer.com reward seat tables (present as of July 2026). Provider prices: verified in VA/SQ reserving flows. SQ provider prices transformed at USD/AUD 0.65 change charge.
9. Replace Cadence
This valuation must be up to date quarterly (January, April, July, October) or instantly following any award chart repricing by both program.
Replace guidelines:
- Examine Qantas Basic Flight Reward chart for any repricing
- Examine Velocity award pricing for every associate chart
- Re-check provider prices through reserving move simulation for every route
- Replace money fares (Google Flights, 6-week advance, mid-week, non-peak)
- Recalculate cpp per route, recompute trimmed imply
- Replace the creditcard.com.au/frequent-flyer-credit-cards/ web page with new figures and date
Doc produced: July 2026. Subsequent overview: October 2026.