Bonus Virgin Australia Velocity points are back! Velocity is offering a 15% bonus on points transferred from a wide range of credit card rewards programs until 31 May 2016. Credit cards from an extensive list of providers including ANZ, Citibank, St George, Amex and Diners Club are eligible for the promotion. However, Westpac and the Commonwealth Bank are two notable exceptions.
Velocity offers these kind of bonuses on credit card point transfers around once every six months. The bonuses have, in the past, been as high as 25%. However, 15% is around as high as these bonuses seem to reach nowadays.
There are threads back in 2010/2011 referring to a 25% bonus, but in recent years I think 15% is about as good as it gets.
If you have a stash of credit card points, there’s another good reason you might wish to transfer your points to Velocity now. The redemption rates for many Virgin reward flights are increasing on the 1st of June. So, now is the perfect time to transfer and redeem your points before they become less valuable. Rates are going up on many reward flights, including Virgin Australia short-haul flights and Etihad Airways redemptions. However, if you’re planning to redeem your Velocity points for Singapore Airlines flights, then it may be better to wait until after 1 June.
This round is particularly significant as it’s the last chance prior to the program restructure on June 1.
Transfer bonuses are becoming a semi-regular part of the Velocity Frequent Flyer landscape. While they benefit many flyers, some believe that their predictability is now doing more harm than good to Velocity. Further, one member believes that these promotions disadvantage loyal Virgin flyers that transfer their points outside of promotional periods.
I think it’s a drug for velocity. They make fast cash when they do these and now they’ve become so regular it’s potentially having side effects.
Existing loyal cc earning users don’t receive any benefit for being loyal
If you’re able to take advantage of this promotion, be sure to transfer your points by 31 May.
Join the full discussion HERE.