1.7 million Altitude points can go a very long way in Australia: roughly $5,950 in cash back at the common 0.35 cents-per-point rate, or about $7,140 in gift cards at around 0.42 cents per point. For travel redemptions, the value can be much higher depending on availability and route, especially if you move points into airline partners or book premium cabins.

What that looks like

Here’s a practical snapshot of the ballpark value based on public redemption examples:

Redemption type Approx value per point 1.7 million points gets you
Cash back 0.35c about $5,950
Gift cards / rewards store about 0.42c about $7,140
Economy flights around 0.53c about $9,010 in value
Business-class flights around 1.0c about $17,000 in value
These are rough figures, not fixed guarantees, because reward pricing changes with route, taxes, and availability.

Best-use angle

If the goal is maximum value, the strongest play is usually travel, especially premium cabin bookings or partner transfers rather than straight cashing out. Westpac also allows points to be used for card purchases, cashback, annual-fee rebates, donations, and travel bookings, so the “best” option depends on whether you want simplicity or value.

Simple takeaway

In plain terms, 1.7 million points is enough for a serious travel haul or a chunky cash-equivalent return in Australia. If you want the points to stretch hardest, travel redemptions usually beat cashback by a wide margin.