Velocity conversion (ANZ rewards vs Flybuys)

I'm trying to get my head around this (as I'm new to Velocity and point collecting) and want to ditch one of the cards (to save on annual fee)

I have an ANZ travel rewards credit card (1.5 points for every dollars spent).
I also have a Coles Mastercard (2 points for every dollar spent) for the 120k bonus flybuy points.

Based on experience of deals, does anybody know which credit card's points can convert over to Velocity at higher rate?

THanks

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Comments

  • +5 votes

    ANZ:
    Below $2000—- $1=1.5 reward points = 0.75 velocity points
    Above $2000—- $1=0.5 reward points = 0.25 velocity points

    Coles Mastercard
    $1=2 flybuys = 0.87 velocity points

    So per dollar, Coles Mastercard is better

    However, ANZ has more benefits

  • +1 vote

    During the bonus velocity conversions of 15%, ANZ often adds an extra 15% (and one time a couple of years ago, added 30% to make a 45% bonus when transferring).

    If you wait till these bonuses then ANZ would be about the same, since flybuys would probably also have the standard 15%.

  •  

    Thanks guys. This helps.
    This credit card and reward points analysis is a huge minefield of terms and conditions!

  • +1 vote

    My recommendation would be to wait for the next bonus transfer window for the ANZ before closing it down - after 12 months' you'd re-qualify for bonus points.

    If you find the free flight/travel passes useful then maybe hold onto the card.

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