Transferring to Velocity is my favourite use of flybuys points, but the details around this offer are murky.
Velocity transfer promotions are usually a great deal for those who had a specific Virgin Australia or partner flight redemption in mind.
Offer 1: 11% bonus for transfers from flybuys to Velocity [targeted?]
Overnight, I received the following email:
Effectively, this gives you a ~11.4% bonus on transfers from flybuys to Velocity. This is because the regular conversion of 2,000 flybuys points to 870 Velocity Points is boosted to 970 Velocity Points.
Given that there seems to be no public landing page for this offer, it could be targeted to email recipients only. However, that is not stated in the terms and conditions below.
My advice would be to check your email to see if you have received this offer.
Note that bonus points can take up to five weeks after the promo has ended to be credited, i.e. 5 May.
Would I recommend taking advantage of this offer?
Yes, if you had a Velocity redemption in mind and needed some extra points.
No, if you can hold off until May, June or July, when there will probably be a larger 15% bonus offered.
Full terms and conditions
For the promotional period Fri 1 Mar 2019 to Sun 31 Mar 2019, linked households will receive 100 bonus Velocity Points for every 2,000 flybuys points transferred to Velocity Frequent Flyer Points. Linked households must transfer a minimum of 2,000 flybuys points (equivalent to 870 Velocity Frequent Flyer Points) per redemption. flybuys points can only be transferred in increments of 2,000. A maximum of 138,000 flybuys points (equivalent to 60,030 Velocity Frequent Flyer Points) may be transferred for Velocity Frequent Flyer Points per household, per calendar year. No fractions of Velocity Frequent Flyer Points will be allocated, only whole Velocity Frequent Flyer Points. Visit flybuys.com.au/velocity to transfer flybuys points. flybuys points transferred for Velocity Frequent Flyer Points will be credited to the linked Velocity account. Members should allow up to five (5) weeks after Sun 31 Mar 2019 for the bonus Velocity Points to be allocated to their Velocity Frequent Flyer account. Standard flybuys terms and conditions apply and are available at flybuys.com.au.
Offer 2: 15-25% bonus for transfers from American Express to Velocity
Until 15 March, Amex Card Members can get a bonus when transferring their Membership Rewards points out (before the upcoming devaluation to the Amex program next month).
Singapore Airlines Business Class is one of the best uses of Velocity Points
Sometimes knowing how Velocity has run this offer in the past may help you to decide if you should take advantage of it now. Here is the offer history:
- March 2019: 11% bonus for flybuys (targeted?); 15-25% bonus for Amex Membership Rewards Card Members
- November-December 2018: 15% bonus for flybuys, most card and hotel partners; 30-50% bonus for select partners
- August 2018: 15% bonus for Amex Membership Rewards Card Members, 20% for Membership Rewards Ascent
- May-June 2018: 15-60% bonus for bank rewards and hotel loyalty programs and flybuys (tiered); earn Velocity Gold or Platinum status by transferring Amex points (only for Platinum, Business Platinum and Centurion Card Members); get two lounge passes when transferring 100,000+ points from bank programs and flybuys
- February 2018: 30% off Velocity redemptions for Virgin Australia and some partner travel in all classes; 15% bonus for Amex and flybuys
- December 2017: 15-30% bonus for bank rewards programs (tiered); 15% for flybuys
- November 2017: 15% bonus for bank and hotel rewards programs and flybuys; 20% bonus for Amex Platinum Charge; 30% bonus for ANZ Rewards; earn Velocity Gold or Platinum status by transferring Amex Ascent points
- July 2017: 10% bonus for flybuys; 15% for Amex; 25% bonus for Amex Platinum Charge
- June 2017: 15% bonus for bank rewards programs; 20% bonus for hotel rewards programs
- May 2017: 15% bonus for bank and hotel rewards programs; 25% for Amex Platinum, Business Platinum and Centurion; 50% bonus for ANZ Rewards
- March 2017: 15% bonus for flybuys
- November-December 2016: 15% bonus for Amex and flybuys; 30% bonus for Amex Platinum Charge
- May 2016: 15% bonusfor bank and hotel rewards programs; 25% bonus for Amex Platinum Charge & tiered bonuses for ANZ Rewards
- November 2015: 15% bonus
- May 2015: 15% bonus, 15% discount
- November 2014: 15% bonus
- May 2014: 10% bonus, 10% discount
- October 2013: 15% bonus, 15% discount
- April 2013: 15% bonus
- October 2012: 15% bonus
- February 2012: 30% discount on domestic redemptions
- September 2011: 20% bonus
General tips and hints for Velocity’s transfer and redemption promotions
I am a big fan of the bonus points for transfers from partner programs, and redemption discount promotions from Virgin Australia’s Velocity program, which run around twice per year.
The transfer bonus points are usually credited alongside the main stash of points you transfer over, so you don’t have to wait around for them to show up.
If you’re planning on making a transfer to empty out one of your credit card program or flybuys accounts, then you’ll probably want to wait as late as possible in the promo period to ensure you can transfer the most possible points.
They have previously offered double promotions—encouraging those of you with stockpiled credit card program points an incentive to move them over to Velocity, whilst also rewarding those with points in their accounts already—although 15% seems to be the norm.
Any discount on redemptions is usually for around 12 months from the date of booking, so if you hold on until the end of the promotion it opens up the calendar for you. The redemption discount is applicable to any Virgin-operated flight, both domestic and international.
Other ways to take advantage of redemption deals for future travel on Virgin Australia
You can also book travel and change the date after the discount promotion ends, copping a change fee ($60 change fee on international flights) but additional points will be charged if this is done outside the promotional period.
This is a significant boost to the value of Velocity Points during the promotional period, so well worth considering a redemption if you have upcoming travel in mind for the promo period.
Summing up: are these promotions a good deal?
These Velocity promotions are a usually great deal if you have a stash of credit card program points you know you want to transfer over to Velocity.
A 15% bonus is common now, running at the same times each year—it makes a great benefit for those who can plan ahead and hold cards from one of the included credit card rewards program partners that usually benefit.
If you have a large points balance outside of Velocity and a low Velocity balance, then it could make sense to move some points over speculatively in advance of redeeming them in future.
If you have no short-term plans to redeem points with Velocity, then it is probably not worth making the transfer though—the loss in flexibility of your points (because they then cannot be transferred to be used anywhere else) is not usually going to be worth picking up the bonus.
How do you plan on taking advantage of the current bonus?