That was pretty convenient, but the vouchers were for a limited number of stores. However, they've now brought out:
Haven't got into the details, but it seems to mean you can use your points on anything anywhere, where you pay by Mastercard. Just go to the app on your phone and tell it your next Mastercard purchase is coming off Hotpoints, rather than your credit card. Then buy it. Haven't looked into the fine print on the conversion rate for that though yet.
This new scheme doesn't seem very good value. As an example, I currently have 38,081 hotpoints, and that would give me $171.36 using hotpoints pay. Or, for 36,000 points I could get a $200 voucher to use in Noel Leeming, Bunnings etc. So it's more convenient and flexible but you're paying a 20% premium for that
Yeah, I wondered if that might be the case. As I said, I hadn't checked the fine print for the conversion rate. That's where the catch can be. Like when they did petrol vouchers for hotpoints. The conversion rates on that was a lot less than vouchers for all the other retailers.