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In my opinion, this highlights the blunder that ANZ made when changed from crediting points in to their own program to crediting points direct to QF program.
When they credited points to their own program, there is no cash impact until the customers redeem for a reward. There were many customers who did not transfer points to QF regularly.
But when they credit points to QF, they will have to pay QF to buy the points, whether the customers redeem or not.
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