Points hack: Earn Velocity Points at IKEA
Key takeaways
- A gift card offer at Coles this week gives you 20x the face value in Flybuys points when you buy IKEA gift cards.
- Converting those points to Velocity Points makes those points more valuable.
- What's next: The offer runs until Tuesday 12 May 2026.
Planning an IKEA purchase soon? Here's a nifty way to score some bonus Velocity Points to put towards your next Virgin rewards flight.
From Wednesday 5 May until Tuesday 12 May 2026, when you buy a $50 or above IKEA gift card at Coles you'll earn 20 times the face value as Flybuys points. So a $50 card will score you 1,000 Flybuys points, while a $100 card earns 2,000 Flybuys points.
In practice, I see $100 IKEA gift cards at Coles much more often than $50. That $100 card will convert to 1,000 Velocity Points (here's how to convert and why it's the best use of your points). 1,000 Velocity points are worth around $10.
The maximum Flybuys points you can earn with this promotion is 50,000, which would require a whopping $2,500 in gift cards and would convert to 25,000 Velocity Points.
Want more points right now?
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You can use those cards to pay in-store at IKEA or for online orders. $2,500 isn't chump change, but it also wouldn't be hard to spend that at IKEA.
25,000 Velocity Points are worth at least $500 (following my standard valuation of 2 cents per point). You could easily score a return Sydney-Melbourne flight with those points.
IKEA gift card bonus points offers aren't as common as those we see for other cards, but do pop up. Checking my database, Coles ran the same deal back in October last year.
To max out your IKEA experience further, check out our guide to how to make the most of IKEA Family and reward keys.
We added details of the latest Flybuys/IKEA offer on 5 May 2026.
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