Should you redeem your unused frequent flyer points now?

Frequent flyers have resorted to redeeming thousands of points on products, local flights and accommodation as they wait for international travel to return.

For Virgin's Velocity members Queensland is the most popular destination, but there has also been a trend of people booking last-minute trips.  

Economy flights from Sydney to Brisbane, Sunshine Coast and the Gold Coast have been available for 7800 points one way.

READ MORE: Thousands cash in frequent flyer points amid COVID-19 travel shutdown

Travellers can also book economy flights between Sydney and Melbourne for 7800 points one way.

"We've seen lots of members save their points through COVID over the over 2020. But with the borders opening up, we're seeing a huge spike in people spending their points for flights", Velocity Frequent Flyer Acting Chief of Marketing and Loyalty Office, Dean Chadwick, told A Current Affair.

"What we are seeing now is that the booking window is much shorter from the time that they booked their flights to the time that they want to travel."

READ MORE: Best Aussie backyard summer travel deals

For those not choosing to fly, Mr Chadwick said the Velocity Rewards Store has been popular.

"The most popular item was the Apple Air Pods Pro, that was the number one item. But people are also buying gift cards through Bunnings and Myer and Coles."

Frequent flyer expert Daniel Sciberras, the managing editor of Point Hacks, said he has seen an emerging trend of frequent flyers redeeming points on luxury accommodation, especially through Qantas.

READ MORE: Queensland's border with Greater Sydney and Victoria reopens to cheers and hugs

"They're looking to use the points to reduce the cost of the accommodation, or to stay at a hotel that they otherwise wouldn't stay at, because it's a more of a luxury hotel that will cost more," Mr Sciberras said.

"No points redemption is ever a waste, because you're getting some value over $0, but there is a pecking order in regard to the value that you can get, from your points."

Despite people choosing to redeem their points, his advice is to save them for international travel, when it returns.

READ MORE: Buy now, travel later: Are cheap international deals worth it?

"You're going to get the most value from your points by redeeming them for long haul seats. Most specifically, it's business class and first-class seats that are going to get you the most points. So, now's the time to keep saving those points and just look ahead at 2022 and 2023 or later this year."

When do your points expire?

Qantas: 18 months (unless you earn a point in that period)

Qantas Points do not expire as long as you use or earn at least one Qantas Point in an 18-month period.

This means members can keep their points active for a lifetime just by using a Qantas Points earning credit card, doing their shopping at Woolworths, filling up their car at BP or visiting the Qantas Store.

READ MORE: BP given green light to offer Qantas Frequent Flyer points at service stations

Virgin Velocity: 24 months

All Velocity members were provided with a 12-month points expiry extension in December, 2020.

Velocity also continue to offer their members a 24-month validity period on their points – this means the Velocity member only has to earn one point (or spend one point) before their points balance is renewed for a further 24-month period.

Points can be earnt in the air (by flying) or on the ground (through Flybuys, shopping with our partners, riding with Ola, ordering Youfoodz etc).