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Money Hack: Convert your flybuys points to Velocity for bonus points

Travel Necessities

Take advantage of a 15% boost and fly sooner.

More than 10 million Australians are members of flybuys, which means we're all piling up flybuys points whenever we shop at Coles, Liquorland, First Choice and various other outlets. Chances are you're just letting those points turn into occasional $10 off vouchers. Free money is fun, but I'm here to tell you there's a better way.

With flybuys, you also have the option of converting your flybuys points into Velocity Points for use with Virgin Australia. You can find all the details in the complete Finder guide to Velocity and flybuys, but the key thing to know is this: every 2,000 flybuys points can be converted to 870 Velocity points.

2,000 flybuys points is also what you need to score a $10 off voucher. But if you convert to flybuys, it's possible to get much more value than $10. Your 870 points can easily be worth $20 or more, and that's especially true this month.

The hack

During May, there's a special promotion running which means you get 15% extra when you transfer flybuys points into Velocity. In practice, that means every 2,000 flybuys points are worth 1,000 Velocity Points. Sweet!

You can only transfer points in 2,000 point blocks. So if you're sitting on 5,900 flybuys points, wait until close to the end of May and see if you tick over the 6,000 mark. But if you're on 6,100, you may as well transfer now unless you're planning to do a lot of supermarket shopping in the second half of the month.

My own approach is to only ever transfer from flybuys to Velocity when one of these promotions is running. Typically, that happens twice a year. You can keep track of when the next offer launches by signing up for the Points Finder newsletter.

Finder Money Hacks is a weekly roundup of the latest tips and tricks to improve your finances. Check back every Saturday for new hacks.

Picture: Getty Images

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