Velocity Frequent Flyer 15% Points Transfer Bonus for November

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LJenkoMamenko on 29/10/2017 - 23:59 go.velocityfrequentflyer.com (1993 clicks)
Last edited 30/10/2017 - 01:13 by 1 other user

Been waiting for this for a few months and finally back starting 30th of October.
The self proclaimed "THE WORLD'S BIGGEST POINTS EXCHANGE EXPO"

Velocity members will receive 15% bonus Velocity Points when they transfer points from Participating Card Partners, flybuys and Hotel partners to Velocity between 30 October and 30 November 2017

Simply transfer points into Velocity from one of their partners to get a 15% point bonus.

Card Partners;
AMEX
ANZ and ANZ Business Rewards* Some ANZ cards have a 15% booster bonus in addition*
NAB
Citibank
HSBC
Diners Club
Club Services
Suncorp
Bank of QLD

Retail Partners;
Flybuys

Hotel Partners;
Golden Circle
Accor Hotels
Hilton Honors
SPG
IHG
Choice Hotels

Starts 30th October 2017 and ends November 30th 2017.

Terms down the bottom: https://go.velocityfrequentflyer.com/expo/learn-more?icmpid=…

Credit to wherestheid for following his easy format from the last deal in May.

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  IWoNdEr on 30/10/2017 - 20:10

  +3

  A shoutout to all the Citibank Reward Point holder

  If you are like me who intend to get Krisflyer FF point. With this deal it's actually more economical to transfer first to Velocity FF and then convert it to Krisflyer.

  e.g. 20000 Citi Reward = 8000 Krisflyer (direct conversion)
  = ~8510 Krisflyer (via this 15% bonus + Velocity conversion)

  The additional bonus is Krisflyer has 3 yr expiry, where Velocity there's none when you earn or use point every 24month or so.

  NB still pissed off at citi for the recent reward point changes (from one of the best to one of the worse)!
  Will be cancelling my card once I transfer all my points. Thanks OP!

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    wicklow on 05/11/2017 - 10:07

    Great, thanks (that's exactly my plan).

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  AndyNBP on 31/10/2017 - 00:21

  Yeah, I will transfer all my ANZ Reward to Velocity and close ANZ Reward card.

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  MelbBoy on 31/10/2017 - 02:16

  I'm new at calculating the points redemption value so bear with me. I have a Citibank card with rewards.

  I'm comparing a Virgin flight from Melb to Perth at $199 one way.

  If I use only Velocity points - 21,000 points

  To redeem the same flight using only Citi points - 34150 citi points = 0.583 cpp (cents per point)
  To txfr from Citi to Velocity (at 2:1 exchg rate) and redeem the same flight using Velocity only - 42000 citi points = 0.474 cpp
  To txfr from Citi to Velocity (at 2:1 exchg rate with 15% BONUS) and redeem the same flight using Velocity only - 36522 citi points = 0.545 cpp

  So just looking at the CPP, it seems to be more worthwhile redeeming my Citi points with Citibank instead of transferring to Velocity ?

  This post has got so many +ve votes and makes me think I'm missing something here. In my case, it doesn't seem to be good value !

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    Coops1 on 31/10/2017 - 08:23

    +1

    Your right, in your case it doesn’t work out favourably. If the flight was $400, then that’s a different story, your getting some value

    It really works If you book business class @ $1500 for 40000pts, basically 6 times the value of your original example.

    Add Edit: For any of the rewards programs (Amex, Citi, ANZ etc), the cost of the reward determines the pts used. Eg if that flight was $398 on virgin, Citi would need double the amount of pts. Basically any reward redemption uses a set rate of $ to pts, it is basically near the same value as redeeming a gift card, eg 18000pts per $100 or thereabouts these days as a basic example for either $100 gift card or $100 in flights.

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      MelbBoy on 02/11/2017 - 23:47

      Great explanation ! Thanks Coops1 :)

      I'll do a similar comparison with business class tickets. :)

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      wildstone on 09/11/2017 - 02:13

      Help me understand this… With NAB Rewards:

      80,000 points roughly equals a little over $400 Gift Card.

      Converting to Velocity will become 40,000.

      40,000 Velocity Points roughly equals to a little over $200 Gift Card.

      Even with 15% bonus wouldn't it be not worth while to convert the reward points?

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        Coops1 on 09/11/2017 - 06:41

        Your right, it’s not (never has/is) worth converting if your intention is to buy gift cards. Similar, even if your redeeming economy flights on a frequent flyer or Rewards (converted to ff) card, it’s usually ends up being the same/similar value as a gift card.

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        wildstone on 09/11/2017 - 10:02

        @Coops1:

        Thanks Coop. You mentioned it is not worth if the intention was to buy gift card. Can you please tell me which intention would be worth it to convert? If it was 1:1 convertion it would be a no brainer. Problem is it wants to halve the points when converted.

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        Coops1 on 09/11/2017 - 13:24

        +1

        @wildstone:

        Very simplistically - Business/Premium/First class flights booked on QF/VA pts etc….
        or an expensive economy flight where a reward seat is available and you have to travel. eg no sale fares.

        It also depends on how many frequent flyer points you earn or how many you get when rewards are converted per $ spent.
        For example with ANZ, I get 2 rewards per $ spent, converting under this bonus I get 1.3ffppd! With citi you are likely only getting 0.575ffppd with this bonus ??

        Gift card redemption with VFF gets the ff value of 0.56 per ff point

        My reckoning is use the points for what could be an expensive $180 MEL-HBA flight, where it only costs 7800pts and $20 taxes. Thus your points are valued at over 2.0c per ff point (taking into account the taxes as well)

        Also, what I do (not advice, just what I stick by!)
        - I don't pay an annual fee without a signon bonus or additional equivalent benefit eg free flight.
        - I cancel the card when the annual fee is to be charged!
        - I make sure I am aware of the earn rate of the card, and maximise point earns per $ spent by using the best card for the spend
        - I only redeem where the flight benefit (or similar!) is more than double the gift card benefit, noting for reward flights you dont get status credits or points!
        - above all, I would only get a credit card when I pay NO interest each month

        Hope this helps
        Cheers
        Coops1

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        wildstone on 10/11/2017 - 09:41

        @Coops1:

        Coops1, thanks man. Will look into flights and see how to make use of them~

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  jaygee on 31/10/2017 - 14:40

  +5

  ""THE WORLD'S BIGGEST POINTS EXCHANGE EXPO""

  Yea okay calm down VA…

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    JohnHowardsEyebrows on 04/11/2017 - 21:01

    +3

    When advertising creatives are given too much reign.

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  isthisreallife22 on 21/11/2017 - 18:43

  Does anyone have a good process they go through to test base value of the transfer that I can refer to e.g.

  TRANSFER
  1. See how many points you can get using the credit card rewards program transfer wizard (e.g. 104,000 CC points = 41,600 + 15% = 47,840 velocity points)

  COMPARE GIFT CARD EXCHANGE RATE
  2. See what gift cards are worth in credit card portal: 104,000 CC points = $500
  3. See what gift cards are worth in velocity so 47,840 velocity points = ($250/45,000)*47840=$265.78

  COMPARE FLIGHT EXCHANGE RATE
  4. Find a baseline flight value e.g. BNE-SYD on 6 March = $99 flights via VA
  5. Velocity points = 11,800 velocity points
  6. CC points (via CC travel portal) = 17,044 points

  Value of CC point:
  - Pre-exchange Gift Card = $500/104000 = 0.48c per initial CC point
  - Pre-exchange Flight Redemption = $99/17044 = 0.58c per initial CC point (which for 104000 would require $604 gift cards to break even… this one is winning)
  - Post-exchange Gift Card = $265.78/104000 = 0.26c per initial CC point
  - Post-exchange Flight Redemption = (($99/11800)*47840)/104000 = 0.38c per initial CC point

  So I'd be better off booking this flight through the CC rewards portal??

  Any thoughts on figuring out when it would make sense? Is it more of a flight by flight comparison??

  I'd need to do this same thing for Flybuys too

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  Jared17 on 28/11/2017 - 04:09

  Was gonna transfer my amex points to velocity then again to krisflyer. Thankfully realized at the last min that's a stupid way to do even with the bonus

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    JJlikes2eat on 28/11/2017 - 08:37

    Nice one, good save. How many points were you going to lose via the first method?

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      Jared17 on 29/11/2017 - 17:45

      I don't remember exactly now but if my calculations were correct, something like 1000 or so points for every 10000 amex points I transfer. I would be better off just converting them direct to krisflyer.

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