Virgin Australia is offering a 20% bonus when buying Velocity Points until 1 March—this equates to around 1.95c per point at the top tier if purchasing the maximum 250,000 points.
This guide explains the basics of how and when you can purchase Velocity Points, plus an example redemption.
The essential info
If you are short of the required Velocity Points for a redemption, you can buy the remaining points needed online.
These are the key caveats:
- Each purchase must be a minimum of 500 points
- 250,000-point maximum purchase per calendar year
- The price per point varies according to the level
- No limit to the frequency of points purchases up to the maximum
- While you must tell Velocity how you think you’ll be using the points that you buy, there is nothing that appears to hold you to this choice
With this promotion, if you purchase the minimum of 500 points, you’ll get a bonus of 100 points, meaning that each point is costing you 3c each. That is above what we value Velocity Points at (1.9c each), so I wouldn’t recommend buying points at this level specutatively.
However, if you buy the maximum of 250,000 points with a 50,000-point bonus, then that drops the per-point price down to 1.95c each, which is much more reasonable.
Note: Velocity Points expire after 24 months of inactivity in your account, so make sure to keep your account active by earning/redeeming points regularly.
An example redemption
One of the best uses of Velocity Points is for flying Business Class between the East and West Coasts of Australia for 35,500 Velocity Points one-way.
If you had, say, 20,000 Velocity Points already in my account, you could top up with 15,600 points for $399 under the current promotion. Note that you’ll need to pay taxes and charges on any award redemption.
Sometimes Velocity offers a bonus and sometimes a discount.
Other ways to earn Velocity points
- The highest Velocity Points-earning credit cards
- Buy Marriott Rewards points and transfer to Velocity (program has undergone changes)
- Transfer credit card and flybuys points to Velocity during promotions
- Family pooling
- Velocity bonus point offers
Make sure there is award availability for the redemption you are eyeing off before purchasing the points needed to top up your balance.
As we aim to get at least 1.9c per-point value from Velocity Points, I would suggest you only buy points for a specific redemption rather than speculatively.