Thanks for the replies

You are correct to mention that maybe I am a bit distracted from the end game – positive gearing!

I totally agree you seem to pay for this extra benefit with an increased interest rate.So you need to your sums.
On a average loan of a $250k LOC it can work out approx over 260 000 points @ end of year 3.

To my way of thinking extra benefits of say an OS holiday with my family from a Frequent Flyer program is just a bonus.-partly funded by the taxman

Also in my circustances the LOC rate is less than my existing Marginal Loan rate, so I will be gaining in that department-regardless of wat loan product I take.
Cheers