The best uses of 300,000 Qantas Points in 2026 are a oneworld Classic Flight Reward that circles the world in Premium Economy at 287,000 points. A one-way First Class Classic Flight Reward from Sydney to London costs 249,400 points, leaving you 50,600 to spare. You could also combine a Business Class return to Asia with a one-way Business seat to Tokyo for 262,600 points. The reward tables effective from 5 August 2025 price all three options within the balance. Three hundred thousand points brings the premium tiers of the round-the-world award into range. The question is no longer whether your balance covers a flagship seat. It is which flagship trip you want to build around it. Here is how the tables price this level in 2026. We cover the Premium Economy round-the-world in detail. We also look at the First Class and Business Class pairings the balance covers, plus redemptions that quickly drain a balance this size.
What 300,000 Qantas Points buy under the current reward tables
Under the tables effective for bookings made from 5 August 2025, Classic Flight Rewards use fixed, distance-based tables per passenger. Taxes, fees and carrier charges payable separately in cash. The current tables comprise five separate tables as of September 2026. The Qantas table covering Qantas, Jetstar mixed itineraries, Fiji Airways and American Airlines. There is also a cheaper Jetstar-only table and a dearer Partner table. A standalone Emirates table is priced by return miles for bookings made from 31 March 2026. The oneworld Classic Flight Reward table prices the whole itinerary rather than each one-way leg. The comparison below shows the headline options for a 300,000-point balance. Prices are per passenger and exclude taxes, fees and carrier charges. All figures are current as of September 2026.
| Booking | Qantas Points |
| One-way First Class, Sydney to London | 249,400 |
| Business return to Asia plus one-way Business Class to Tokyo | 262,600 |
| oneworld Classic Flight Reward, Premium Economy, up to 35,000 miles | 287,000 |
| Return Business Class, Sydney to London | 332,600 |
The last row is the balance’s honest boundary. The London Business Class return costs 32,600 points more than the 300,000-point balance. That makes it the next milestone rather than a booking. The three rows above it are where this balance delivers the most value.
The Premium Economy round-the-world at 287,000 points
The booking that defines this level is the oneworld Classic Flight Reward in Premium Economy. It costs 287,000 points for up to 35,000 miles of travel. The award allows up to five stopovers and requires at least two oneworld airlines other than Qantas. Jetstar-operated flights are not permitted. Our round the world guide covers the rules end to end. One redemption converts the balance into a multi-city, multi-carrier trip in Premium Economy. It still leaves 13,000 points in the account. The Economy version of the same award costs at 152,200 points. That makes the comparison a genuine choice. The choice is between the bigger cabin for the whole journey and two Economy awards. Two awards would cost 304,400 points, which is 4,400 points above the balance. That is close enough to plan towards.
- Warning: the oneworld award prices the entire itinerary at the highest cabin flown. A single First Class leg on an otherwise Premium Economy booking therefore reprices the whole trip at the 523,200-point First Class rate. Mixing cabins can quickly reduce your points’ value.
The First Class and Business pairings inside the balance
The single-seat flagship is First Class to London. A one-way First Class Classic Flight Reward from Sydney to London costs at 249,400 points. That leaves 50,600 points to spare. The remaining points are enough for another booking. A one-way Business Class seat across the Tasman costs 43,600 points. That brings the pairing to 293,000 points. Alternatively, you could save the remaining points for another trip. The Business Class version of the same route prices at 166,300 points one-way. A return therefore costs 332,600 points, which is above the balance.
The pairing offers more flexibility than a single return at this level. A Business Class return to Asia costs 164,200 points. That comprises two 82,100-point Sydney to Singapore leg. Add a one-way Business Class seat to Tokyo at 98,400 points, the total is 262,600 points, leaving 37,400 points remaining. You would get three Business Class sectors across two trips. The same approach works for two travellers on shorter trips. Two Business Class returns across the Tasman cost 174,400 points combined, leaving 125,600 points. You cold then use 123,100 points for a one-way First Class seat to Singapore. All figures are current as of September 2026.
The redemptions that undervalue 300,000 Qantas Points
The December 2025 Point Hacks valuations put a Qantas Point at 1.6 cents. That values 300,000 points at about $4,800 when used for the awards above. These Premium cabin bookings can beat that benchmark. The cash fare each booking replaces determines the margin. The less valuable redemption options remain the same, but they cost more points at this level. Based on those valuations, store and wine redemptions generally return less per point than Classic Flight Rewards. Points Plus Pay bookings also generally offer lower value. The Classic Plus Flight Reward prices vary with demand. The fixed figures in this article therefore do not apply to it. Qantas Points expire after 18 months without eligible earning or redemption activity, regardless of the balance’s size.
The best ways to spend Qantas Points guide compares redemptions cross different balances. Protecting your balance is just as important as building it. Keep earning points while the plan comes together. The top Qantas Points earning credit cards guide compares ways to rebuild and top up your balance. From there, the next milestone comes into view. A London Business Class return costs 332,600 points. A Business Class round-the-world award costs 365,800 points. A First Class return to London costs 498,800 points.
Frequently asked questions
Not quite. As of September 2026, the return prices are 332,600 points. Two 166,300-point legs, which is 32,600 points past the balance. The best fit is a Business Class return to Asia plus a one-way Business Class seat to Tokyo for 262,600 points combined, or a one-way First Class seat to London for 249,400 points.
Yes. The Oneworld Classic Flight Reward prices Premium Economy at 287,000 points for up to 35,000 miles with up to five stopovers, leaving 13,000 points of the balance unspent. The Business Class version costs 365,800 points, the next milestone up.
One-way, yes. Sydney to London costs 249,400 points in First Class, leaving 50,600 points, which covers a Tasman Business Class seat at 43,600 points. The First Class return costs 498,800 points, which belongs to a larger balance.
About $4,800 of travel value at the December 2025 Point Hacks valuation of 1.6 cents per point, when spent against the Classic Flight Reward tables. The premium cabin bookings in this article are the redemptions that clear the benchmark, while store, wine and Points Plus Pay redemptions tend to fall under it.
Fees, rates and figures quoted are correct at the time of publication and should be verified directly with each provider before acting on them.
This article is general in nature and does not constitute personal financial advice. Consider your own financial situation before applying for any credit product. Point Hacks may receive a commission from card issuers for applications made through this site.
