Virgin Australia’s Velocity transfer bonuses usually happen at least once a year and can be a great way for those collecting points outside of Virgin Velocity to make a transfer from participating rewards programs.

With a bonus of up to 40% available to some partners, it’s a great option if you’re considering transferring Velocity points to KrisFlyer.

May promo: 15-40% bonus

When you transfer your points between May 1 and 31, you can get a bonus of up to 40% when transferring from your bank’s reward program, hotel loyalty programs or Flybuys. For your points to get credited, allow at least 3 business days.

This time around Virgin Velocity has split the transfer partners in half with the following partners only receiving a flat 20% bonus.

However, ANZ is offering a points booster of 30% which will bring the total to 50% when transferring from ANZ rewards. Here are the details; ANZ 30% Booster Offer: The ANZ Booster Offer is available for every successful manual redemption or auto redemption of ANZ Reward Points to Velocity Points made from 01 May 2018 to 31 May 2018. It can take up to 5 business days for these Velocity Points to appear in the Velocity Membership Account.

If you collect points in one of the reward programs below, your transfer bonus is tiered from 15 to 40%

Tiered transfer rates

You can transfer your points right up until May 31 and you will still receive the bonus even though it can take up to 3 days for the points to arrive in your account.

As a savvy points collector, it’s always advisable to keep your points in your credit card reward program until a bonus like this comes around to pull you over the line. Especially with the tiered points, you’d want to transfer in bulk to gain the maximum benefit.

Previous transfer promos:

  • May 2018: 15-40% tiered transfer bonus+ 30% booster for ANZ
  • February 2018: 30% Discount on Velocity redemption
  • December 2017: 15-30% tiered transfer bonus

Is it a good deal?

Personally, I won’t be transferring any Amex reward points to Velocity since I value programs such as KrisFlyer and Asia Miles much higher for redemptions. If however, you have an ANZ rewards card, the is the perfect time to initiate a transfer and score a 50% bonus.

Will I get a bonus for Westpac Altitude Rewards and Commbank Rewards?

Last time a similar promotion ran, there was an unpublished benefit to Westpac and Commbank members who did receive their bonuses. If you hold one of these cards, it’s well worth doing a small test transaction to see if any bonuses get credited before potentially making a large transfer later in the month. At this stage, we haven’t seen any confirmed reports yet.

How to get a bonus when transferring to KrisFlyer

One of the great benefits of Velocity is the ability to not only redeem on Singapore Airlines but also transfer points instantly to the KrisFlyer program. However, award space on Velocity is much lower when compared to KrisFlyer so for many transferring is the only option (in which case you lose out as the transfer rate is 1 VA point for 0.7405 KrisFlyer mile). To gain a tangible advantage you would need to transfer in the 40% tier for American Express cards and anything over 15% for ANZ Rewards cards.

In conclusion

We love the Velocity bonus transfer promotions, and they can offer great value to some. However, don’t be fooled by the 40% headline as you need to transfer a sizable amount of points to get it. As always, it’s recommended to keep your points flexible unless you have a redemption in mind.

Full details on the promotion can be found here: https://go.velocityfrequentflyer.com/bonanza

 

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Shannon
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Shannon

I’ve just sent 15,000 Altitude points equivalent to 7,500 Velocity points – it’ll be interesting to see if I get the 15% bonus!

Gary Turner
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Gary Turner

Just to be clear because I am not sure it is mentioned in your article, transferring points from Citi, Suncorp, Diners and Card Services to velocity will receive an additional 20% bonus as well as the tiered bonus mentioned.
i.e. transfer 2000 points from Citi and receive 15% bonus plus 20% bonus = total 35% bonus, so total points received is 1350.