Pay for fuel with Velocity points at BP

Sally McMullen 6 July 2016

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Velocity Frequent Flyer and BP's latest initiative will change how Aussies can pay for petrol and earn rewards.

Virgin Australia's Velocity Frequent Flyer program and BP Australia have announced the launch of Pay with Points, an Australian-first initiative that will allow members to pay for fuel with Velocity Points at the checkout.

As of next week, BP customers who belong to the Velocity program can redeem points for savings between $10 and $60 off their eligible fuel and in-store purchases at BP service stations. The average Australian household spends around $60 on fuel each week, so Velocity and BP think the program will help customers save at the pump and put more disposable income back into their pockets.

To start redeeming points for petrol, cardholders will need to create a four-digit PIN at the Velocity site, swipe their Velocity membership card in store before making a payment and request that the purchase is redeemed with points. When you set up your PIN, the redemption amount will be automatically set to $10, so you'll need to nominate to change this if you'd like to redeem more.

Currently, $10 off petrol is worth 1,667 Velocity Points and Velocity members can earn 2 points per litre of fuel or per $1 on in-store purchases (up to $100) at select BP service stations. At this earn rate, this means that you'll need to pay for 834 litres before you can redeem $10 off your next fuel purchase. Let's say that your car holds 50 litres of fuel, you'd need to fill up your car almost 17 times (16.68) before you could redeem your voucher. If you fill up your car once a week, it could take you 17 weeks or just over four months to redeem your voucher. So, unless you purchase fuel at BP religiously, have racked up Velocity Points from flights or regularly use a Velocity frequent flyer credit card to pick up points, you're unlikely to be able to take advantage of Pay with Points more three times a year. Of course, the value you could get from the rewards scheme will depend on how often you purchase fuel at BP and how regularly you refill your car.

While the rewards could be limited, Velocity and BP are still ahead of Qantas in the petrol rewards game. After dropping (and shortly picking up again) its partnership with Woolworths, Qantas frequent flyers are still unable to earn rewards at Caltex Woolworths service stations.

Picture: Shutterstock

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8 Responses to Pay for fuel with Velocity points at BP

  1. Default Gravatar
    | November 12, 2016

    I have a velocity card would like to try it aswell please

    • Staff
      Sally | November 14, 2016

      Hi Murray,

      Thanks for getting in touch.

      If you’d like to start paying for fuel with your Velocity Points, you can do this by creating a four-digit PIN via your Velocity online account, swiping your Velocity card at the checkout before making the payment and request that your purchase is paid for with points.

      I hope this has helped.

      Cheers,

      Sally

  2. Default Gravatar
    leanne | October 22, 2016

    Hi there I work at BP one of my new staff members has a customer that wants to redeem $60 of his points but the system that’s we use won’t let us take more than $10 off do you no who this is done on the system

    • Staff
      Sally | October 24, 2016

      Hi Leanne,

      Thanks for your question.

      When you redeem your Velocity Points for fuel discounts at BP, you have the choice of an in-store redemption option ranging between $10 and $60. When you create your PIN, you will be automatically opted into a $10 minimum BP in-store redemption option. So if the customer would like to redeem more than $10, they will need to sign into their online Velocity account and update the settings on the Pay with Points page.

      Once they’ve done this, they should be able to redeem $60 worth of fuel with their Velocity Points.

      I hope this has helped.

      Cheers,

      Sally

  3. Default Gravatar
    Adrian | September 20, 2016

    So I have truck that takes diesel so am I better off with she’ll or bp to redeem points

    • Staff
      Sally | September 21, 2016

      Hi Adrian,

      Thanks for your question.

      As a comparison service, we’re unable to suggest any specific brand to our users and the right option will depend on your individual needs.

      Consider where you usually fill up for fuel and which rewards program would offer you the most value and start comparing based on those factors.

      Cheers,

      Sally

  4. Default Gravatar
    Annette | August 24, 2016

    I’m buying a holden vehicle worth 75,000 velocity points just wondering how much this would be to spend on fuel I’ve been told that I would use my velocity card to actually pay for my fuel is this correct thanks Annette

    • Staff
      Sally | August 25, 2016

      Hi Annette,

      Thanks for your question.

      Just to confirm your question, are you asking how much fuel you could purchase with 75,000 Velocity Points?

      BP only allows you to redeem Velocity points for petrol costs between $10 and $60. It’ll cost 1,667 Velocity Points to redeem $10 worth of fuel.

      How many litres of fuel you’d get from $10 to $60 would depend on your vehicle, so you should also consider this before you start redeeming your rewards points for fuel discounts.

      Cheers,

      Sally

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