The May “Record Breaking” Velocity transfer bonanza has been extended until June 10. Under the offer, members are being offered a bonus of up to 40% on the number of points transferred from card partners during May.
Flybuys, ANZ and hotel transfer partners are getting a bonus of 20%.
In some cases, there is an additional bonus on offer. ANZ and Citibank customers are in for additional booster offers, that could take their bonus to 50% or more.
Velocity Points Bonanza
The marketing spin around the May offer is that it is a record breaking deal. The offer revolves around two different deals, depending on where you are transferring your points from:
- up to 40% bonus Points on transfers from participating card partners.
- 20% bonus Points for transfers from ANZ, flybuys and hotel partners
Up to 40% Bonus Points from Card Partners
Velocity are offering a tiers bonus structure when transferring points during what they are dubbing as a transfer bonanza. The bonus is on offer for transfer in May and is calculated as follows:
- 1 to 100,00 = 15% Bonus Velocity Frequent Flyer Points
- 100,001 to 250,000 Velocity Points = 20% Bonus Velocity Frequent Flyer Points
- 250,001 to 500,000 Velocity Points = 25% Bonus Velocity Frequent Flyer Points
- 500,001 to 750,000 Velocity Points = 30% Bonus Velocity Frequent Flyer Points
- 750,001 plus Velocity Points = 40% Bonus Velocity Frequent Flyer Points
Unfortunately, not all card issues are participating in the bonus. Notable banks missing from the lineup include the Commonwealth Bank, and the Westpac group. The card partners participating in this bonus are
- Citibank
- Diners Club Reward
- Bank of Queensland and Q Rewards (Platinum credit card holders only)
- Suncorp Bank Rewards
- Card Services Rewards
- HSBC Rewards (Platinum and Premier credit card holders only)
- NAB Rewards
- Australian American Express Card Members, including David Jones American Express Card Members enrolled in the Membership Rewards program (this offer excludes American Express New Zealand Card Members)
20% Bonus Points from ANZ, FlyBuys and Hotel Partners
Transfers from ANZ, FlyBuys and Hotel partners will attract a flat 20% bonus.
Normally, there is a maximum annual transfer of 138,000 points from FlyBuys to Velocity. During May, this limit will be removed, and you will be able to earn the 20% bonus of as many points as you can transfer.
Bonus Booster (ANZ and Citibank issued cards)
If your’e in ANZ Rewards or Citibank Rewards, there’s an additional Bonus Booster available. For ANZ Rewards members, this could bring you’re bonus to a total of 50%.
The Citibank Bonus Booster is 20% and extends to various other Citibank issued cards as well – including Diners Club.
In the case of Citibank, the website says little of the booster, however, on transferring the points, the booster is applied.
Thoughts
For many bank transfers, it looks that the standard 15% will continue to apply, unless you have lots of points to transfer. It is interesting that Flybuys transfers have been bumped to a 20% bonus this time around.
Further information may be found on the Velocity website.
