ASX trading platforms: Qantas and Superhero announce tie-up with frequent flyer partnership
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The ASX trading landscape is facing increased competition from fintech disruptors, looking to gain market share from traditional brokers.
On that front, a new deal was announced today with national airline Qantas (ASX:QAN) set to partner up with Superhero in a deal that will help Superhero investors earn Qantas points on their share trades.
Investors who maximise the promotion, which runs until February 28 next year, could earn up to 15,000 bonus points, the companies said.
Specifically, investors can earn 500 points on each of the first 10 eligible trades (up to 5,000 points), and up to 10,000 points for transferring their portfolio over to Superhero (5,000 per transfer).
Thereafter investors can earn 100 points per trade and one point per $5 transferred from Australian dollars to US dollars within the program.
Superhero’s platform offers both US and ASX share trading offering commission free trading for Wall Street and a flat $5 brokerage for Australia.
Qantas Loyalty CEO Olivia Wirth said this deal would be popular with frequent flyers.
She noted Qantas Frequent Flyers flyers can earn frequent flyer points in several ways in the ground including from shopping, everyday spending, exercising and now share investing.
“This partnership with Superhero reflects a focus on providing our members with more ways to earn Qantas Points,” Wirth said.
“Research shows that almost nine million Australians hold shares, so we think being able to earn points while trading shares will be popular with a large number of our frequent flyers.”
Superhero co-founder John Winters said the deal came just at the right time with travel recommencing.
“It’s been a difficult couple of years and this new offer will allow Australians to grow both their wealth as well as their Qantas points balance,” he said.
“There’s been a big generational shift for Australians to become more engaged with their finances – and this partnership will help us support more Australians with their investing and wealth goals – as well as literally helping them to take to the skies with Qantas.”
Qantas shares declined slightly today.
While shares have gained 12% in the last year and are well up from the $2.36 low reached on March 20, they remain below the all time high of $7.35 reached in December 2019.
15,000 Qantas points would be more than enough to pay for an upgrade from economy to business class on a Sydney to Melbourne flight (10,900 points).
That could also allow you to purchase a domestic Classic Flight Reward which is ordinarily 8,000 points for Sydney to Melbourne or 12,000 between Sydney and Adelaide.
Unfortunately international flight rewards and upgrades will take longer to earn with a Sydney to North America classic flight reward costing 55,000 points in economy.
And of course, all reward flights and upgrades are subject to availability at the time of booking.
However, Qantas sometimes offers discounts on flight rewards, including this week where it is offering 30% off domestic classic flight rewards.
And if you’re a Platinum frequent flyer or above, you can ring the Frequent Flyer assistance desk and request seats be released as a classic reward.
Again, this is entirely at their discretion but it never hurts to ask nicely.
Disclosure: The author held shares in Qantas (ASX:QAN) at the time of writing this article.