Velocity transfer promotions are usually a great deal for those who had a specific Virgin Australia or partner flight redemption in mind.
The last time the program ran one for most partners was in May-June and more recently in August for American Express Card Members. This bonus is average.
For those with large points balances outside of Velocity who know they will want to redeem Velocity Points sometime in the future, it could be worth transferring speculatively.
It could also be worth considering transferring points to KrisFlyer miles via Velocity during the bonus period for some additional KrisFlyer miles.
Current offer: 15% bonus on Velocity transfers with 30-50% for some cardholders
Between 1 and 31 November, you can get a bonus when transferring your bank and hotel programs and flybuys points over. Transfers should be immediate but could take up to three business days, so do factor that into your bookings.
No registration is needed.
The participating partners are below:
Here is the full list, with some partners offering a booster offer:
- Australian American Express, including David Jones American Express Card Members enrolled in the Membership Rewards program (this offer excludes American Express New Zealand Card Members)
- ANZ Rewards and ANZ Business Rewards (30% total bonus)
- Citibank Citi Rewards (30% total bonus)
- Diners Club Rewards (30% total bonus)
- Bank of Queensland Q Rewards (30% total bonus; Platinum credit card holders only)
- Suncorp Bank Rewards (30% total bonus)
- Card Services Rewards (30% total bonus)
- HSBC Rewards (Platinum and Premier credit card holders only),
- NAB Rewards
- Shangri-La (50% total bonus)
- Accor Hotels
- The Ritz-Carlton Rewards
- Marriott Rewards
- Starwood Preferred Guest
- Choice Hotels
CommBank Awards, Amplify Rewards and Westpac Altitude Rewards are not included in this promotion.
My advice is that if you do not have an immediate need for the points but still want to take advantage of the bonus offer, hold off until the second half of the month as Velocity often sweetens the promotion by upping the bonus or throwing in lounge passes. This is especially true for those who hold American Express Membership Rewards points, particularly of the Ascent variety.
If you transferred your points up to and including 31 October, you will not receive a bonus. If you transfer right on 30 November, you will still receive the bonus even though it can take 72 hours for your points to arrive in your account.
The full terms and conditions are here.
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:
- November 2018: 15% bonus for flybuys, most card and hotel partners; 30-50% bonus for select partners
- August 2018: 15% bonus for Amex Membership Rewards cardholders, 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 cardholders); 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?