flybuys is a shopping loyalty program aligned with Coles and is popular with Point Hackers since it offers ways to redeem Velocity Points and travel. Members often get bonus point offers as well, which can set your balance soaring.
In our previous guide, we covered the basics of earning Flybuys points, and in this guide we go through the main redemption options and the kind of value you can expect to receive from your flybuys balance.
Frequent flyer program partner redemptions
flybuys’ sole airline points partner is Virgin Australia and Velocity Frequent Flyer. They were previously aligned with Etihad, but that partnership ended in 2018.
flybuys points are worth a minimum 0.5c each at the check-out (see below), but you can get so much more out of them with certain Virgin Australia flight redemptions.
You can check our points valuation here, but remember that best redemption is the one you really want, regardless of whether it is the most cost-effective.
We currently value Velocity points at 1.8c per point, whereas flybuys points are valued at 0.6c per point.
Summary of the key flybuys redemption options
| Redemption | Value / Rate | Our Guide |
|---|---|---|
| Coles discount at checkout | 0.5c per flybuys point | |
| flybuys travel | 0.5c per flybuys point | Guide to flybuys travel → |
| Velocity transfer | Variable value: >1c per Velocity Point for flights is achievable relatively easily (= 0.435c per flybuys point) >2c per Velocity point for flights by being more strategic (=0.87c per flybuys point) | Best uses of Velocity Points → |
Velocity Frequent Flyer point transfers
flybuys points can normally be exchanged for Velocity Points at a rate of 2,000 Flybuys Points to 870 Velocity Points. To get started you’ll need to link your accounts and then make transfers of at least 2,000 points.
There are many ways to use Velocity Points—check out our guide to the best uses for more.
I personally find the greatest value with Business Class redemptions, such as 35,500 points from Tasmania to Melbourne to Perth.
flybuys periodically have bonus transfer offers, usually 15% more. That means you can get nearly 1,000 Velocity Points from 2,000 flybuys Points.
With a 15% bonus transfer rate, 72,000 flybuys points would give you about 36,000 Velocity Points, enough for a $1,299 Business Class experience! (With $25 extra in taxes).
That’s a value of 1.80 cents per flybuys point, nearly four times the value you’d get at the check-out ($360 for the same amount of points, incidentally).
With Coles running 10,000 flybuys Points promos at least once every few months, getting enough points for a Business Class seat is definitely within reach.
flybuys Travel
flybuys has its own flight booking website, flybuys travel. This not only lets you earn flybuys points when you book with any airline but also lets you use your flybuys points to pay for any flights booked through the website.
Our full guide to flybuys travel is here.
Since flybuys is not partners with most airlines, redemptions are not based on distance like most frequent flyer programs. Instead, redemptions will be based on the cost of the ticket.
Each flybuys point is worth 0.5c, and since budget airlines (such as Jetstar and Tiger) are included, you may not necessarily need a lot of flybuys points to score a free flight!
You can also use flybuys Travel to book hotels, cars and travel packages.
Non-flight redemptions
Discount at checkout
The common use of flybuys points is to redeem them for cash off your grocery shop at Coles supermarkets. For every 2,000 points you redeem, you can get $10 off (0.5c per point). Just make sure to log in to your flybuys account and redeem online before heading out to the stores.
It’s not surprising why this is the most popular redemption option since it’s quick and easy to redeem. No restrictions, no fuss.
You can also use your flybuys dollars in-store at Liquorland, First Choice Liquor, Coles Express, Kmart, Target and mycar.
flybuys online store
Like all reward programs, flybuys also have their own online store where you can buy a range of items.
You can also choose the points plus pay option if you find a reward that you do not have enough points for. Depending on which gift you’re redeeming the value of your points can fluctuate a little bit, but for the most part it will still turn out to be 0.5c per point.
Take these Samsung Galaxy Earbuds retailing for $249 JB HiFi in October 2019.
You can also buy them at flybuys for 51,798 points which roughly equal 0.48 cents each. It’s even worse with Points + Pay, where your flybuys points are worth as low as 0.26 cents each.
Summing up
Even though it was originally designed as a shopping loyalty program with no airline partners, the redemption choices really do put the ‘fly’ into flybuys now.
The partnership with Velocity has opened the door for transfers to a more valuable points currency, and good value flight redemptions. Saving your flybuys points for Virgin Australia Business Class bookings could get you a lot more value than using them at the checkout.
flybuys points are pretty consistently valued at 0.5c each, regardless of which method of redemption you use, unless you can transfer them out and redeem them for flights, where it is possible to get nearly 2 cents value from each flybuys point.
Otherwise, discounts at the checkout are probably the next best redemption option as it’s as good as cold hard cash. And don’t feel bad for doing it this way if you have no travel plans – your points give you the most value for the things you want.
I have Flybuys, ANZ Rewards and Velocity memberships. I earn point on all of these on a regular basis and so I have a reasonable balance on all of them. I never know the best option for redemption.
The only place I regularly fly is Sydney to Adelaide return. Am I best to use points for booking flights by transferring balances to Velocity or just keep redeeming things like Flybuys dollars or ANZ store gift cards etc.
Reading flybuys website, they require to login online to make the redemption first before going to the checkout.
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