Redeem your ANZ Reward Points for Velocity Points from 17 February to 1 April 2015 and earn 20% bonus Velocity Points.
Plus, you'll be rewarded with Velocity Status Credits.
Please self explanatory. Havent seen a bonus as high as this. I think the last bonus offer through ANZ was 15% and this time it includes status points.
Enjoy!
Just replying to my own comment…
"A minimum of 2,250 ANZ Reward Points must be redeemed for 1,000 Velocity Points in one transaction to be eligible for the bonus Velocity Points and additional Points must be redeemed in increments of 2,250"
19980 ANZ rewards =$100 gift card
18000 velocity points = $100
Even with 20% bonus, NO DEAL!
Thanks for that - was considering it until I read your post. Only worth it at a one for one rate.
but you earn 2 ANZ pints per $1 so it works out 0.9 velocity per $1 and with 20% its better than a $1 per point!
It does not really matter how you earn them.
This is how much they are worth when you have them:
19980 ANZ rewards =$100 gift card
18000 velocity points = $100
If you use them for gift cards you get less money for them if you convert at 2250 for 1000!
I get your point but mate, all rewards programs have the same lame return. You get more value if you use it for flights than gift cards.
@Gavman:
About 1% return from credit cards points when used for gift cards which is my main use.
Cannot wait to need it for a possible future flight…always ends up not enough points, no seat on the right flight or some other problem
1-2% is about right. This deal is also good for those who signed up to 50,000 bonus point offers a few months ago.
18,000 Velocity points nearly gets you return Sydney-Brisbane which is usually $280.
So 2,250 ANZ RP for 1,000 Velocity points is for the first transaction only, or do they mean every 2,250 gets you 1,000 Velocity points ? They are not very clear on that.
A minimum of 2,250 ANZ Reward Points must be redeemed for 1,000 Velocity Points in one transaction to be eligible for the bonus Velocity Points and additional Points must be redeemed in increments of 2,250.
Sounds like it means the latter.
+1
Accidently neg'ed your comment, when I went to give it a +
:-(
Last time I looked into it, it was a dreadful deal too (to be fair, I always claim gift cards like @maxi).
thanks been waiting for this.
The status credits are tempting me
20% is pretty good! On Amex, that's equivalent to 1.6 Velocity points per $1 spent.
Perfect for people with recent sign-up bonuses.
(Obviously this is only for people who want to redeem flights and upgrades. If you want gift cards, it never makes sense to transfer points from a bank reward program to a frequent flyer program.)
i'd say it's worth it just for the status credits, if you've flown a few times with virgin in the last year or plan to, that 50 points can boost you up to the next level quite easily
Does anyone else not see the brilliance of just exchanging the minimum points for a small loss in ANZ rewards but retaining the ability to exchange remaining anz points for gift cards and then receiving the 50 status credits!?
Not too sure what benefit you get from status credits
It seems good, but how do Velocity points compare to ANZ rewards points when you convert the to gift cards (like Coles or Kmart gift cards)?
Do you get 1 velocity point for 1 ANZ rewards point +20%?