American Express are offering a bonus of between 15% and 25% when transferring Membership Rewards points to Velocity. The bonus depends on the number of points that you choose to transfer.
The bonus comes at a good time for those that are considering their options for their Membership Rewards balance. For some members, the upcoming changes on April 15 will see the looking at the value of the Membership Rewards halving overnight.
Details
The bonus is available for transfers that take place between February 15 and March 15, 2019. The exact bonus will vary, depending on:
- The Membership Rewards program you are enrolled in
- The number of points that you transfer
The following tables shows the bonus levels on offer for transfers from Ascent:
| Membership Rewards Points Transfer Amount | Velocity Bonus Points Awarded |
|---|---|
| Up to 250,000 | 15% |
| 250,001-500,000 | 20% |
| Over 500,001 | 25% |
For the Gateway program, the tiers are as follows
| Membership Rewards Points Transfer Amount | Velocity Bonus Points Awarded |
|---|---|
| Up to 333,334 | 15% |
| 333,335 – 666,667 | 20% |
| Over 666,668 | 25% |
Based on that, most people will likely be in for a 15% bonus. Some that put a lot of money through their cards, will be in line for a 25% bonus.
The transfer rate from American Express to Velocity varies depending on which program you are in. For members in American Express Ascent, the normal transfer rate is 1 Membership Rewards Point to 1 Velocity Point. So, while that 2,000 points would normally transfer to 2,000 Velocity Points, during this promotion, you would get 2,300 Velocity Points.
These bonus offers are always handy, and come around reasonably regularly. Given the looming devaluation of Membership Rewards Points for many, this offer is worthy of consideration.
To transfer your points, head across to American Express Membership Rewards.
