Up until now, the only way to transfer Citibank Rewards points to Velocity was via a direct transfer through the Citibank Rewards site. However, with flybuys recently becoming a new transfer partner for Citibank Rewards, and also a transfer partner of Velocity Frequent Flyer, this has opened up a new way to transfer Citibank Rewards points to Velocity, via flybuys.
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This guide is broken up into two parts: Part 1 takes a look at the two methods of transferring from Citi Rewards to Velocity, while Part 2 goes through additional things to consider when deciding which method to use and provides an example of a Citibank cardholder transferring 100,000 Citi Rewards points to Velocity Points under different scenarios.
Best method to use for this month’s Velocity 15% bonus transfer offer
Velocity Frequent Flyer is currently offering a bonus points promotion for transfers from selected credit card and loyalty reward programs to the program between 1 November and 30 November 2018, which includes Citibank.
For those of you looking to make an immediate transfer but wish to read these guides at a later time, I have outlined the method you should use to maximise your points here given the conditions of this month’s offer. For those not looking to make an immediate transfer, please feel free to skip over this section.
The details of the offer specifically for Citi Rewards credit card holders is that you will receive 15% bonus Velocity Points on your transfer from Citi Rewards in addition to a 15% Citi Booster offer, meaning that you will receive 30% bonus points in total.
Given this specific offer consists of a bonus point promotion that includes both Citibank Rewards and flybuys, as well as a Citi Booster offer, you will maximise your transfer in this case by transferring directly to Velocity Frequent Flyer from your Citi Rewards account, rather than transferring them via flybuys.
The exact transfer rate will be dependent on which type of Citibank Rewards card you hold.
Verdict: Better to transfer directly to Velocity for all Citi cardholders.
The two methods in more detail
Citibank Rewards is a flexible rewards program, allowing members to transfer their Citibank Rewards points to airline frequent programs at a time of their choosing, with Velocity Frequent Flyer being one of those airline programs.
Method 1: transfer directly from Citi Rewards
Citi Rewards members can transfer their points directly to their Velocity account by logging into the Citi Rewards site and navigating to the Transfer Points tab at the top of the screen.
Your transfer rate will depend on which type of Citi card that you hold.
Citi Premier and Prestige
Therefore, the effective transfer rate is: 1 Citi Rewards point = 0.5 Velocity Points.
For those holding a Citi Platinum card, your transfer rate is:
Therefore, the effective transfer rate is: 1 Citi Rewards point = 0.4 Velocity Points
Method 2: transfer via flybuys
An alternate method is to first transfer your Citi Rewards points to flybuys, and then through the flybuys-Velocity partnership, transfer your flybuys points to Velocity.
In regards to the Citi-flybuys transfer, the transfer rate again depends on which Citi Rewards card you hold.
Citi Premier and Prestige
If you hold a Citi Premier or Prestige card, then you can transfer your Citi Rewards points to flybuys at the following rate:
If you are a Citi Platinum cardholder, you can transfer your Citi Rewards points to flybuys at the following rate:
flybuys to Velocity transfer
Irrespective of which Citi Rewards card you hold, the transfer rate between flybuys points and Velocity Points is 2000:870, or in other words, 1 flybuys point = 0.435 Velocity Points.
The table below summarises the options you have:
|Direct to Velocity||Direct to flybuys||To Velocity via flybuys|
|Citi Premier & Prestige||0.5||1||0.435|
Transfer rates for 1 Citi Rewards point
Thus, in a majority of cases, it is more valuable to transfer your points directly to Velocity rather than going through flybuys.
However, Part 2, I will show that this relationship does not always hold true when there is a promotional deal on.