15-30% Bonus on Credit Card Points Transfers to Velocity (May 2021)

How to Redeem Virgin Australia Travel Bank Credits
Transfer points to Velocity Frequent Flyer during May and earn 15-30% bonus points to redeem on Virgin Australia flights. Photo: Virgin Australia.

Velocity Frequent Flyer’s six-monthly transfer bonus offer is back for May 2021, with 15-30% bonus points on offer when transferring points to Velocity from a participating Australian credit card rewards program.

You’ll earn 15% bonus points when transferring points to Virgin Australia’s frequent flyer program from most Australian bank-operated loyalty programs.

There is an additional 15% bonus available when transferring from ANZ Rewards or ANZ Business Rewards, bringing the total bonus for ANZ customers to 30%. In addition, American Express Platinum & Centurion cardholders can transfer their Amex Membership Rewards Premium Ascent points to Velocity and receive a 20% bonus.

Almost every Australian bank, with the notable exception of Commonwealth Bank, is participating in this promotion.

Here’s the full list from the Velocity website:

Bank logos
Banks participating in Velocity’s May 2021 points transfer promo.

It’s notable that ANZ and HSBC are included in this promotion, as these banks had been blocking their points from being converted to Velocity until the end of last month. ANZ and HSBC have restored Velocity transfers to coincide with the beginning of this month-long promotion.

This campaign is running until 31 May 2021. No registration is required and you’ll automatically receive the bonus points as long as you initiate the transfer before 11.59pm (AEST) on 31 May 2021. You’ll find the full T&Cs on the Velocity Frequent Flyer website.

Velocity typically runs a similar promotion every May and November. The last such promo ran in November 2020, although it didn’t run in May 2020 because Virgin Australia was in voluntary administration and, at the time, most banks were blocking transfers of points to Velocity, which had paused all redemptions. In the November 2020 offer, Velocity was also giving away status credits.

Before transferring any points to Velocity, keep in mind that Velocity redemption options are still somewhat limited. You can use your Velocity points to book Virgin Australia domestic flights and upgrades, and redeem for things like gift cards, wine and products from the Velocity Rewards store. But you still cannot redeem Velocity points for international flights, partner airline award tickets or convert your points to Singapore Airlines KrisFlyer miles. These options have not been restored yet since they were temporarily removed in April 2020.

If you’d like more information about the different airlines you can transfer your credit card reward points to, check out Australian Frequent Flyer’s Credit Card Points Transfer Assistant.

Join the discussion on the Australian Frequent Flyer forum: Up to 30% Bonus Velocity Points – May 2021 (participating credit card partners)

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Matt Graham
The editor of Australian Frequent Flyer, Matt's passion for travel has taken him to over 60 countries… with the help of frequent flyer points, of course!
Matt's favourite destinations (so far) are Germany, Brazil, New Zealand & Kazakhstan. His interests include economics, aviation & foreign languages, and he has a soft spot for good food and red wine.

You can contact Matt at [email protected]