Did you choose your credit card based on it’s benefits but find, like many people, you never utilise the rewards? Do you enjoy flying first or business class? Tank Streams Labs’ newest member iflyflat, explains how reward points and flying shouldn’t be mutually exclusive. We sat down with Steve Hui the creator iflyflat to discuss how he is not only disrupting the reward points market but is making any number of the 331 credit cards available in Australia work harder for you. Confused? Intrigued? We’ll let Steve Hui explain more.
What is iflyflat and what do people need to know about the business?
iflyflat provides Tailored Points Maximisation Strategies and Flight Booking Services.
We specialise in helping businesses and professionals to maximise their credit card reward points earned from every-day expenses, to ease the costs and discomfort of travel.
We can help businesses save up to 90% on airfares and enable them to grow their international relationships without the burden of travel costs.
What are 3 MUST know tips to make your credit card/ flyer points work harder for you?
- Every dollar of spending can earn reward points. SMEs have the greatest opportunity to harness their points to fly for free and don’t realise it.
- Earning MORE points is just half the plan, as different airlines can charge different points to fly from point A to point B. The key is to be earning the RIGHT points to use them effectively.
- Utilise points for flying and don’t redeem them for gift vouchers or goods. The most value comes from using points to fly international business class.
What is the most common misconception about point based systems and reward programs?
The common thinking is that there are no reward point seats when you want, and it is not worthwhile to pay some of the merchant surcharges to earn the points. But most have not calculated the full benefits of using points to fly, which includes the true flight savings and the ability to travel at the last minute.
What inhibits people the most about points based programs and how do you make it easier?
Most people do not realise the true value & freedom of using points to fly, and hence do not bother to accumulate the points.
They are not aware of the range of value offered by the 331 different credit reward cards in the Australian market, so may be stuck thinking they already have the best one.
How we help is to provide a strategy that aligns the travel needs with the best rewards, so that every dollar spent is earning the maximum reward points to fund their next trip. As an outcome, we have helped businesses to fly business and first class more times than ever and at the same time, save them from $6,000 to over $60,000 in retail travel spend.
What is iflyflat’s biggest challenge at the moment and the ambition for this business year?
Our biggest challenge right now is to spread the news of our unique service. Currently no one seeks us out, as this service has never previously existed. Secondly, to speed up prospective customers to take action and start earning their share of points today to get the rewards tomorrow. We have received great and ongoing media coverage to assist with spreading the word.
Our ambition this year is to help 2,000 people realise the hidden power of their points and help them to fly up the front of the plane. We have already earned and redeemed over 55 million points for flights and are engaging some high profile (business & social) members, so we are on the growth path.
Why Tank Stream Labs?
The primary reason for TSL is the handy and central city location, followed by the successful and ambitious start-ups already residents at TSL. I want to capture their energy for ongoing growth.
It was a close call initially, as the cost of a year at TSL was equal to two first class flights for me (using my points techniques), but in the end I considered as my business would grow faster in the TSL environment, that I could have both co-working and first class flights… and it has already paid off.
For more information on iflyflat or if you would like to subscribe to the service, please visit www.iFlyflat.com.au