Is your balance of Velocity Points in need of a top-up? Velocity usually runs a twice-yearly points transfer promotion with most bank partners – in May and November. But until 15 March, there’s an out-of-cycle offer on the cards.

This deal is exclusive to American Express Membership Rewards members – here’s what you need to know.

Amex Membership Rewards transfer offer

Expiry: Transfer by 15 March 2024

Simply transfer at least 2,000 Membership Rewards points into Velocity Points to earn an easy bonus. For most Amex Membership Rewards members, there’s a 10% boost on these transfers. And if you make more than one eligible transfer during the promotional period, you’ll get that bonus every time.

But there’s something better for Card Members at the Ascent Premium tier of Membership Rewards. Rather than the standard 10%, these spenders qualify for a 15% transfer bonus instead – with the same minimum transfer of 2,000 Membership Rewards points.

So what ascends a Card Member to the Ascent Premium level? Simply, this tier of rewards is exclusive to Amex’s highest-level cards. This includes the Platinum Card, Platinum Business Card and Centurion Card, as well as the Rewards Advantage Card (that one’s no longer open to new applicants).

In both cases, transfers need to be made by 11:59 pm on 15 March to qualify for the relevant bonus. Transfers from Amex to Velocity are normally processed immediately, but may take up to one business day in some instances.

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Why should I use a Velocity transfer promotion?

We’re big fans of transfer promotions from flexible reward programs to Velocity Frequent Flyer, particularly when the offer is 15% more points (or higher!), and you have a specific flight goal in mind.

But in general, unless you have a specific goal, our suggestion is to preserve the flexibility of your points. Just because there’s an offer running doesn’t mean you have to transfer them.

If you’re holding American Express Membership Rewards points and ultimately want KrisFlyer miles, transferring to Velocity with the bonus gives you slightly more miles now.

  • 30,000 MR points = 10,000 KrisFlyer miles with a direct conversion.
  • 30,000 MR points = 16,500 Velocity Points (inc. 10% bonus) = 10,645 KrisFlyer miles
  • 30,000 MR points = 17,250 Velocity Points (inc. 15% bonus) = 11,129 KrisFlyer miles
Virgin Australia Business Class Cabin
Why not upgrade to Business Class using Velocity Points for your trip?

Offer history

Keen to know how Velocity has run this offer in the past so you can decide if you should take advantage of it now? Here are the last three years of offer history:

  • March 2024: 10-15% bonus for American Express Membership Rewards.
  • November 2023: 20% bonus for most programs (3-month offer).
  • August 2023: 10-20% for Amex Member Month.
  • May 2023: 15-20% bonus for most programs.
  • March 2023: 15% bonus for CommBank Awards members only.
  • February 2023: 15-20% bonus for Amex Membership Rewards only.
  • October 2022: 15-25% bonus for most programs.
  • August 2022: 25% bonus for American Express Membership Rewards.
  • May 2022: 5-30% bonus for most programs.
  • February 2022: 15-20% bonus for Amex Membership Rewards only.
  • November 2021: 20-30% bonus for bank programs.
  • May 2021: 15-30% bonus for most bank programs.
  • November 2020: 15-40% bonus + 50 bonus Status Credits for most bank and hotel rewards programs, plus 15% bonus for Flybuys.
  • September 2020: 20% bonus for most bank and hotel reward programs.
  • July 2020: 15-20% bonus for Flybuys.
  • February 2020: 15% bonus for most Amex Card Members; 20% bonus + status upgrade for Platinum and Centurion Card Members; 15-20% bonus for Flybuys [targeted].

Summing up

These Velocity promotions are usually a great deal if you have a stash of credit card or hotel program points you want to transfer over to Velocity. Don’t forget, along with Virgin Australia, you can also use Velocity Points on airline partners such as Etihad, Singapore Airlines, Air Canada and more.

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Transfer your Amex points to Velocity for a 10-15% bonus was last modified: March 1st, 2024 by Brandon Loo