You will know by now that there are endless ways to redeem your Velocity Points, but which way is the best? There is no hard and fast rule for this, as it depends on your lifestyle and desires. Points are normally measured on how many cents value you can get per point.
This article will help you see the potential of your Velocity Points through various redemption methods, but ultimately you should do what makes you happy!
Online shopping and merchandise
Store gift cards are a popular way to burn through frequent flyer points if you just don’t know what to do with them. Here are some options from the Velocity Rewards Store:
A $50 gift card from Virgin Australia, Bunnings, Event Cinemas and Westfield range from 8,300 Velocity Points to 10,900 Velocity Points. Here is a breakdown of their value, per point.
|Gift Card and Value||Velocity Points needed||Velocity Points 'value'|
|Virgin Australia $50||8,300 points||0.60 cents per point|
|Event Cinemas $50||9,900 points||0.51 cents per point|
|Bunnings & Westfield $50||10,900 points||0.46 cents per point|
Unsurprisingly, the Virgin Australia gift card comes out on top, whereas Bunnings and Westfield gift cards offer the least value. Still, there are better ways to use your points.
Read more in our guide to the Velocity estore here.
Hotels and car hire
You can redeem Velocity Points to book hotels, starting from a minimum of 4,000 points plus a cash payment. Here is an example for the Sydney Hilton for one night in August.
You can redeem 47,800 points outright for the room, which is roughly 0.62 cents per point, or pay $297 for it and earn 9 bonus Velocity Points per dollar spent.
Given that 47,800 Velocity Points could nearly get you a one-way business class trip between London and New York, often worth thousands of dollars, redeeming them for a $297 hotel room is probably not the best use either.
Now let’s focus on car hire. 16,300 Velocity Points can cover a rental worth $113.52 from Europcar, giving you an effective value of 0.70 cents per points – getting better!
Of course, the main aim for any frequent flyer will be to use Velocity Points for flights. You will usually get more value for your points straight away, even in domestic Economy Class.
Here is a direct comparison of a short domestic flight, between the cash price and the Velocity Points redemption price.
|Launceston to Melbourne||Cash Price||Velocity Points needed||Velocity Points 'value'|
|Economy||$109||7,800 points + $23.53||1.10 cents per point|
|Business||$449||15,500 points + $25.73||2.73 cents per point|
Take this Melbourne to Singapore Business Class example, where you can get 4.14 cents per point in value from your Velocity balance:
We are already starting to see a big increase in ‘value’, particularly in Business Class. For longer international flights in a premium cabin, the value of a Velocity Point is even greater.
|Melbourne to Singapore||Cash Price||Velocity Points needed||Velocity Points 'value'|
|Business||$2,776.84||65,000 points + $86.84||4.14 cents per point|
There are plenty more examples out there, but hopefully, you get the idea by now.
Frequently Asked Questions
The value of a Velocity Point can range wildly from very low (e.g. 0.3 cents per point) to really high (e.g more than 5.0 cents per point). Flights tend to offer the best value for Velocity Points.
How many Velocity Points do you need to fly?
The minimum Velocity Points you need is 7,800 points for a short one-way Economy Class redemption. A long-haul international Business Class redemption (e.g. from Australia to London) will need up to 139,000 Velocity Points.
What can you get with Velocity Points?
Just about anything – gift cards, merchandise, hotel bookings or flights. This article will help you work out what’s the best use for you.
What is the best use of Velocity Points?
For the most value, you will find Business Class flight redemptions and upgrades will be the best use. But if a gift card or new toaster makes you happy, then go for it! Also, check out our six best uses of Velocity Points.
The broad consensus is that saving your Velocity Points for Business and First Class redemptions are the best way to get value out of them. Indeed, many of our readers do just that.
However, don’t get swept up in all the number-crunching. If you really want to buy that iPad with your Velocity Points and don’t want to fly, then go for it!
Also, particularly with Business Class flights, the true value of a Velocity Point will really depend on how much you would actually pay for the flight in question.
Taking the Launceston to Melbourne Business Class example from earlier, it is nice to say you will get 2.73 cents per point in value from a $449 fare.
However, in real life, I would never pay that much for a 45-minute flight! The most I’d be willing to pay for Business Class is maybe $50 over Economy, so the value for each Velocity Point in the Business Class redemption would drop accordingly for me.
As they say, YMMV (your mileage may vary).