15-20% bonus points when transferring to Velocity in May-June 2024

[AIRwin]

Similar offer to the November-January promo is back for consecutive transfers in the months of May and June:

20% bonus Velocity Points*

Been waiting to transfer your bank points to Velocity? Transfer your credit card reward points from participating bank partners to Velocity in August and September.*

www.velocityfrequentflyer.com

 

[Hunter4vr]

Pretty rough exclusion under the T&C’s for ANZ.

If you receive the 70,000 First Year Bonus Acquisition Points as part of the ANZ Rewards Platinum offer during the Promotion Period, you will not be eligible to receive bonus Points as part of this offer on any points transferred from ANZ Rewards.

 

[bairds3926]

As a newbe I am interested to know if 15% is the most likely maximum bonus Velocity points offered in the short to medium term. I am in no great hurry to transfer points from Card Services and will wait for a better offer if one is likely to come along.

 

[Mattg]

As a newbe I am interested to know if 15% is the most likely maximum bonus Velocity points offered in the short to medium term. I am in no great hurry to transfer points from Card Services and will wait for a better offer if one is likely to come along.

Occasionally we have seen offers of 20 or 25% bonus points in the past, but not on transfers from Card Services that I can recall. I think 15% is about as good as you're going to get.

 

[johnjones878]

Pretty rough exclusion under the T&C’s for ANZ.

Seems to apply to NAB new card sign up bonuses as well?

 

[Hunter4vr]

Seems to apply to NAB new card sign up bonuses as well?

Hmm yeah, similar exclusion for NAB, I wonder why they specifically exclude only the Platinum cards?

 

[Brissy1]

Similar offer to the November-January promo is back for consecutive transfers in the months of May and June:

20% bonus Velocity Points*

Been waiting to transfer your bank points to Velocity? Transfer your credit card reward points from participating bank partners to Velocity in August and September.*

www.velocityfrequentflyer.com

I presume that the technique is to turn off auto transfer in July so can reactivate at the next offer, or is the extra 5% a once only?

 

[JackMiles]

Would someone be so kind as to check my maths? If transferring from Amplify and wanting to eventually get the points to KrisFlyer, this makes it marginally worth going via Velocity, yeah?
Amplify -> KF = x points / three.
versus
Amplify -> Velocity -> KF with this bonus = x points / two * 1.15 (or (1.2) / 1.55
I understand there's some risk of the Vel->KF rate changing if one were to delay that transfer.

 

[Www]

My reading is that you could apply for the ANZ reward black, collect the 180k bonus ANZ reward points and turn on auto transfer to get the 20% bonus.

The exclusion is only for the anz platinum card sign up bonus.

Whether the bonus ANZ reward points clear before 30 June is another issue, but hopefully would get another opportunity similar in November if not…

 

[Brissy1]

I presume that the technique is to turn off auto transfer in July so can reactivate at the next offer, or is the extra 5% a once only?

Found the answer. It depends on the bank, eg with Citi I think it is ok to turn off and on, ANZ specific t&c state "ANZ Reward Points. Individuals who had Auto-Transfer turned on for Velocity Points as at 11.59pm AEST on 31 Oct 2023 are ineligible for the Auto Transfer Campaign"

Edit: Oops no, the auto transfer bonus doesn't apply to Citi at all. Still, happy with +15%

 

[Duffa]

Amplify -> Velocity -> KF with this bonus = x points / two * 1.15 (or (1.2) / 1.55

Maths is correct
Transfer from 2:1 card into Velocity then bonus SQ is 0.74 ppd
Transfer from 3:1 card into SQ is 0.66 ppd

 

[JackMiles]

Maths is correct
Transfer from 2:1 card into Velocity then bonus SQ is 0.74 ppd
Transfer from 3:1 card into SQ is 0.66 ppd

Thanks, Duffa.

 

[N0mad]

Found the answer. It depends on the bank, eg with Citi I think it is ok to turn off and on, ANZ specific t&c state "ANZ Reward Points. Individuals who had Auto-Transfer turned on for Velocity Points as at 11.59pm AEST on 31 Oct 2023 are ineligible for the Auto Transfer Campaign"

Edit: Oops no, the auto transfer bonus doesn't apply to Citi at all. Still, happy with +15%

if you have the Citi Prestige or Premier (i think that's the right one, the 2nd highest tiered card anyway) you can transfer to Kris at 2.5:1 which is superior to the 15% bonus through Velocity

 

[Duffa]

if you have the Citi Prestige or Premier (i think that's the right one, the 2nd highest tiered card anyway) you can transfer to Kris at 2.5:1 which is superior to the 15% bonus through Velocity

That's 0.8 then, isn't it?
(I got A+ in sums when I was at school.)

 

[doctord]

Hi everyone, have a couple of questions -

1) has there been an instance in the recent time where the Citi rewards bonus points transfer to Velocity has been better than 15%?

2) If I turn on auto transfer for St George for the bonus 20%, do I need to receive the bonus points by June and have it transferred to Velocity for the extra 20%? Or is the 20% only applicable for a short period?

 

[kpc]

Would someone be so kind as to check my maths? If transferring from Amplify and wanting to eventually get the points to KrisFlyer, this makes it marginally worth going via Velocity, yeah?
Amplify -> KF = x points / three.
versus
Amplify -> Velocity -> KF with this bonus = x points / two * 1.15 (or (1.2) / 1.55
I understand there's some risk of the Vel->KF rate changing if one were to delay that transfer.

Maths is correct
Transfer from 2:1 card into Velocity then bonus SQ is 0.74 ppd
Transfer from 3:1 card into SQ is 0.66 ppd

As ultimately my goal is to convert all my Amex points to KrisFlyer points, transferring all my Amex points to Velocity points with this 15% bonus, will net me slightly more than 10% more KrisFlyer points then transferring directly from Amex to KrisFlyer points.....of course if they devalue the current 1.55 Velocity to 1 Kris Flyer point exchange rate before I do this last transfer, the benefit goes out the window!

 

[fafnersbane]

Questions for those with St. George Amplify:

• How long did it take for auto-redemption to credit your Velocity points?
• Once you turn it on it should take your entire current points balance right?

It's been 4 business days and still waiting, unlike ANZ who credited the next business day.

EDIT: Derp, I didn't read the description properly for auto redemption. It gets redeemed at issuance of your next statement although the confirmation email does contradict this and says within 5 business days of order confirmation, but after calling up it is indeed the former.

 

[Denali]

Any max limits in the T&Cs? I have 210K flybuys points so if I transfer all in one hit, i'll get an additional 31K points or auto transfer for 42K bonus points?

cheers

 

[RooFlyer]

I have 210K flybuys points so if I transfer all in one hit

Two hits - over 2 months

 

[jkbaus]

Any max limits in the T&Cs? I have 210K flybuys points so if I transfer all in one hit, i'll get an additional 31K points or auto transfer for 42K bonus points?

cheers

210k flybuys equals 105k velocity Plus applicable bonus.