For the next two weeks American Express are offering a bonus of 15% – 20% when transferring points to Velocity. To be in line for the bonus, you will need to make your transfer between 14 February and 28 February 2025.
For most people, the bonus will be 15%. However, if you hold the right cards, you could get a 20% bonus.
- For members enrolled in the Ascent, Gateway or Business Ascent program, you will receive a 15% bonus is on offer.
- If you are enrolled in the Premium Ascent program (Platinum or Centurion card), you will get a 20% bonus when transferring from the Premium Ascent account.
Current Offer
- Offer: 15% – 20% bonus on transfers from Membership Rewards to Velocity
- Dates: Valid for transfers between 14 February and 28 February 2025.
- Conditions: Transfers must be a minimum of 2,000 MR points
A 15% bonus is on par with most bonus offers over the last few years. Sometimes they are a little higher, but 15% is common.
American Express offer transfers to Velocity from a range of their various Membership Rewards programs. These include the Ascent, Gateway, Premium Ascent, Business Ascent and David Jones Membership Rewards programs.
When you transfer to Velocity, you are normally offered a rate of 2 Membership Rewards Points to 1 Velocity Point. For example, if you transfer 2,000 Membership Rewards Points, you will receive 1,000 Velocity Points. As a result of the bonus offer, you will get an extra 150 (or 200) Velocity Points for each 2,000 Membership Rewards points transferred.
Is it Worth It?
If you have a specific goal in mind, transferring while there is a bonus in play can be a good strategy. On the other hand, if you don’t have a goal, then it may be better to leave the points where they are.
It may also be worth looking beyond Velocity. For example, this promotion can unlock better transfers to the KrisFlyer program. Consider, as an example, transferring 60,000 American Express Membership Award points to KrisFlyer.
- With a direct conversion:
- 60,000 MR points transfers as 20,000 KrisFlyer Miles
- Transfer via Velocity during the bonus promotion
- 60,000 MR points transfers as 33,000 Velocity Points, which converts to 21,290 KrisFlyer Miles
