Best Way to Spend 100,000 Amplify Points

Lflubba86 on 01/03/2019 - 15:34
Last edited 01/03/2019 - 15:48

A few months ago my wife and I got the Amplify Signature credit card though St George and met the requirements to get the bonus 100,000 Amplify points.
The points finally got applied to our account, so with our existing points I now have 116,000 Amplify points.

I have a Velocity Frequent Flier account, and I know I can transfer them to Velocity at a ratio of 2:1, so I can get 58,000 Velocity points.
But I don't know if that is the best use of the points. We don't fly much, so probably wouldn't use the points as miles. I fly just a couple of times per year for work, and that is covered by work.

I have my flybuys account linked to my Velocity account, but as far as I can tell there is no way to convert from Velocity points to Flybuys points, it can only go the other way.

I've been reading pointhacks.com.au, there's tonnes of info there about comparative values of each types of points, but I feel like I'm going in circles on that site and gotten nowhere.

I know I can turn the points into Visa or Mastercard gift cards, and it seems I can get slightly more through Amplify than I can through Velocity, but I also understand that is one of the lowest value ways of spending the points.

Lots of people like the KrisFlyer miles system offered by Singapore Airlines, I could create a KrisFlyer account and exchange the Amplify points at a 2:1 ratio to KrisFlyer if that might be better value than Velocity.

How would you spend the 116,000 Amplify points?

EDIT: Adding, we have a 1yo kid and a baby due in April. We will not be flying anywhere for at least 2 years. I understand the best value for using the points is to use them on flights (as reiterated by literally every article on pointhacks), but at this stage I'm interested in non-flight options.

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Comments

  • Thrawn on 01/03/2019 - 15:38

    Easily Krisflyer points.

    Amplify have a very, very good Krisflyer conversion rate. 56,000 points gets you a return economy flight to most of South East Asia with around $150 in tax.

    • djkelly69 on 01/03/2019 - 16:40

      at this stage I'm interested in non-flight options.

      OP has now added the above - so while KF is great for flight options, not sure they are much chop for non-flight.

      Without looking (as I don't have Amplify), I would guess converting directly for gift-cards from Amplify is probably going to represent your best value non-flight option.

    • bohn on 01/03/2019 - 17:11
      +1

      well, actually their conversion rate is pretty mediocre. 1:1 would be considered good. Amplify converts at 2:1.
      tbh, the allure of krisflyer is the ability to easily book flights rather than hitting a brick wall as often happens with other FF programs when you actually want to use the points (espec for business and first class).

      • HighAndDry on 01/03/2019 - 17:21

        Quoting from basketball (and probably other sports), often the best ability is availability.

        • bohn on 01/03/2019 - 17:56
          +1

          yes.
          I'm burning some points and flying SQ R. Will be returning to The Private Room at SIN.
          they're available so why not ;)

  • Lycratops on 01/03/2019 - 17:07

    Convert to Gift cards. Buy what you want, and can wait until things are on sale.

  • Serathis on 01/03/2019 - 19:39

    keep the points until you fly , definitely with krisflyer

  • spiff on 01/03/2019 - 19:56

    Considering Velocity transfers to Krisflyer at a rate of 1.55:1, it's definitely better value transferring Amplify to Krisfyler directly. Just note the 3 year expiry period on KF points as soon as they hit your account. They will expire regardless of activity.

  • Archi on 02/03/2019 - 08:20

    Just get the $500 prepaid MasterCard and buy whatever you want, like groceries or pay your other bills

    That's what we did.. we have 2 of them and will be using it to buy groceries for the next 2 months

    • flubba86 on 01/04/2019 - 19:11

      This is what I decided on. I did up a spreadsheet working out dollars of value per point, lots of permutations, turned out this $500 prepaid mastercard was one of the best value per point options available, and we're free to spend it on whatever we want!

      • starburstyellow on 16/04/2019 - 18:12

        Have you done the transfer? Could suggest another option. Please turn on PM to discuss further.

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