40% bonus Velocity Points transfer deal: All the details
How to get the most points from Virgin Australia's May offer on credit card and flybuys transfers.
Points transfers to Virgin Australia's Velocity frequent flyer scheme will earn up to 40% more Velocity Points during May.
Under the awkwardly-named "Record Breaking Up To 40% Bonus Points Transfer Bonanza Deal", Velocity is offering between 15% and 40% bonus points for transfers of points from credit card partners between 1 May and 31 May 2018. It's also promising 20% for transfers from flybuys, ANZ Rewards, ANZ Business Rewards and hotel partners. Here's what you need to know.
THE POINTS FINDER TAKEThis is the most generous points transfer offer we've seen from Velocity. If you've been stashing points in flybuys or on your credit card, transferring this month will help you earn lots more points at no extra cost. But wait until near the end of the month to maximise the value of your transfers.
How to score the 40% bonus
The bonus percentage for card transfers is based on the number of Velocity Points you'll earn after you've made the transfer. Transfers that earn between 1 and 100,000 Velocity Points score a 15% bonus. To earn the full 40% bonus, you'll need to make a transfer that earns you 750,000 or more Velocity Points. Here's the full earnings table.
Card partners taking part in the promotion include American Express, NAB, Citi, BOQ, Suncorp Bank, HSBC and Diners Club. There's no need to specifically register for the promotion; as long as you have a card which can earn Velocity Points (check out our handy guide if you're not sure), any transfer during May will receive the bonus.
Given the tiering system, it would make sense to transfer as late in the month as possible, to ensure you get the most bonus points. Virgin has confirmed that transfers made during May will earn the bonus even if they don't actually accrue into the account until June (partner transfers can take up to 72 hours to process.)
How to maximise your flybuys points transfer
Transfers to flybuys, ANZ Rewards, ANZ Business Rewards and hotel partners during May offer a 20% bonus on Velocity Points earned. Hotel chains taking part in the scheme are LeClub Accor, Hilton Honors, IHG Rewards Club, Starwood Preferred Guest, Shangri-La Golden Circle Awards and Choice Privileges.
One handy extra is that during the promotion Virgin is waiving its annual cap on transfers to flybuys. Normally, there's a maximum limit of 138,000 flybuys points transferred into Velocity during a calendar year. However, that doesn't apply while the deal is running. "From the 1 of May to 31st May, there is no limit on the number of flybuys points that can be transferred to Velocity Points in this promotional period," the terms and conditions note.
Bear in mind that the number of Velocity Points you earn often won't match the number of points you transfer from partners. For instance, flybuys offers 870 Velocity Points for every 2,000 flybuys points transferred. You'll also need to respect any minimum transfer amounts that apply to hotel partners.
Virgin teased this promotion last month, promising its best-ever deal for redeeming points from partners. The 40% bonus does appear to be the highest Virgin has ever run, although a promotion which it ran last November did offer a 20% bonus on transfers between 50,000 and 100,000 points. That's a little more generous than this month's offer, where you have to transfer more than 100,000 points to hit the 20% bonus rate.