The Emma Lovell Show
Frequent Flying with iFlyflat founder Steve Hui
Episode Overview:
In this episode of The Emma Lovell Show, host Emma Lovell interviews Steve Hui, known as the "Points Whisperer" and founder of iFLYflat, Australia's leading rewards points management company. Hui shares his journey from accounting to becoming an expert in maximising frequent flyer points and credit card rewards.Hui's background includes experience in the travel industry and a stint at Macquarie Bank, which shaped his understanding of financial systems and travel pricing. He established iFLYflat in 2012, recognising the value of frequent flyer points for accessing premium travel experiences.iFLYflat offers two primary services:
A points flight booking concierge, helping clients find and book the best value flights using their existing points.
A points strategy advisory, guiding business owners on how to earn more points through various means, including paying wages, ATO payments, and supplier payments.
Hui emphasises the importance of understanding the true value of points and using them effectively, rather than stockpiling them. He argues that travel experiences become more valuable when enjoyed earlier in life, making timely point redemption crucial.
The conversation delves into common misconceptions about points, such as the belief that only large businesses can benefit from points programs. Hui dispels this myth, explaining that even small businesses can accumulate significant points through strategic credit card use and partnerships.
Hui likens points management to running a business or buying stocks - the goal is to buy low and sell high. He encourages people to think of their points as a piggy bank, where they should aim to get more value out when redeeming than what they put in when earning.
Throughout the discussion, Hui provides valuable insights on maximising point value, including understanding the "cost" of points and comparing redemption options. He stresses the importance of context when redeeming points, noting that without understanding the relative value of points for different flights, people might overspend their points on less valuable redemptions.
The interview also touches on the evolution of points earning from primarily flight-based to spending-based methods, opening up opportunities for more people to benefit from loyalty programs. Hui explains how this shift has democratised points earning, allowing even small businesses to accumulate significant points.Hui shares personal anecdotes about the joy of flying on points, including the "moment of truth" when the plane takes off and you realise you're flying in a premium seat using points.
He also discusses the added benefits of business class travel, such as increased personal space and freedom of movement.The episode concludes with a brief discussion on how the COVID-19 pandemic affected Hui's business. He viewed the enforced shutdown as an opportunity for reflection and planning, confident that travel would eventually resume. This period allowed him to reassess his business and prepare for the industry's recovery.
Throughout the interview, Hui's expertise and passion for maximising travel rewards shine through, offering listeners valuable insights into the world of frequent flyer points and credit card rewards.
