It’s November, and November brings with it the regular Velocity Points bonus when transferring from a partner. This year there is even an additional bonus. Velocity might even give you a serve of Status Credits.
This November, you will be able to earn between 15-40% bonus Velocity points when transferring points from a range of partners. The actual bonus varies by the partner you are transferring from. In some cases, the bonus varies by the number of points you transfer.
On top of that, if you transfer at least 50,000 Velocity Points in a single transfer you will gain 50 Velocity status credits.
Overall, there are 3 different Bonus Points offers. The specific offer that applies to a transfer is determined by which partner you initiate the transfer from.
The Status Credit offer is applicable to all partner transfers.
Up to 40% Bonus Points
If you are transferring from American Express Membership Rewards, NAB Rewards, Citi Rewards, Diners Club Rewards, Card Services Rewards, Suncorp Bank Rewards and BOQ Q Rewards you can get up to 40% Bonus Points.
The exact bonus is determined on a sliding scale:
- 1 to 100,000 Velocity Points = 15% bonus Velocity Points
- 100,001 to 250,000 Velocity Points = 20% bonus Velocity Points
- 250,001 to 500,000 Velocity Points = 25% bonus Velocity Points
- 500,001 to 750,000 Velocity Points = 30% bonus Velocity Points
- 750,001+ Velocity Points = 40% bonus Velocity Points
20% Bonus Points
The next offer is a flat 20% bonus. You will be eligible for this bonus when you transfer from Commonwealth Bank Rewards, Westpac Altitude Rewards, Marriott Bonvoy, Accor Live Limitless, IHG Rewards Club, Hilton Honors, Shangri-La Golden Circle and Choice Privileges.
15% Bonus Points
Finally, there is an offer of 15% bonus points. This is on offer for anyone making a transfer from flybuys.
Status Credits Offer
In addition to the Bonus Points, Velocity members will receive 50 bonus Status Credits when tranferring the equivalent of 50,000 Velocity Points in a single transaction from one of the above partners.
Whiile you can only get the status credits once for a given partner, you can receive the Status Credits multiple times. You just need to transfer from different partners.
You know things are really getting back to normal when the normal promotions cycle resumes. The question, though, is whether you should transfer points?
From my perspective, it would be worth doing if you had an immediate used for the points. That is, you have your eye on a particular reward.
However, given we still don’t have a clear picture how things will look when Bain takes the reins, I am a bit hesistant to tranfer on a speculative basis. With a bit of luck, we’ll hear more before the month is out. As such, it might be worth sitiing tight until things become clearer.