15% bonus Velocity points on transfers (November 2018)

[dxwell]

There is a mathematical equation for what I said above - will need to plug into Excel post tonight's delicious red on the couch in the good room.

 

[Mattg]

I've got ~250,000 flybuys points and the 15% bonus sounds nice but its a shame its limited to the 138,000 per year. Is it per calendar year or if I transfer now, I have to wait another year for the next lot? I might just hold off as I earn them pretty quickly and I do recall not too long ago there being a 20% bonus?

It's per calendar year. If you have a very large Flybuys balance, I would be transferring the maximum now while you can get a 15% bonus. The only reason not to do this is if there's a 20% bonus next month (which is possible but not that likely).

 

[nathrek]

I'm scared to do this with my Edge....what happens if they call my bluff?!?!?

This was a Business Explorer card. I called up to cancel saying I'm going with another bank. They then offered me 70k points to stay. I said I'd think about it and call them back on Monday (this was Friday). Called them back Monday, spoke to someone else but they could see the call history, told them I'd stay for 70k and the points showed up in my account a few seconds later.

So if they did happen to call your bluff you could still back out at the last moment. I would expect that they'd be very much trying to retain platinum edge customers because of the yearly fee.

Similar happened when I went to close an NAB card a few years ago, didn't offer points but removed the yearly card fee for ever. If you mention you're closing it because of the yearly fee then they're likely to offer you something. Both Amex and NAB I'd been with for a very long time. Your mileage may vary depending on lifetime customer value.

 

[kpc]

Similar happened when I went to close an NAB card a few years ago, didn't offer points but removed the yearly card fee for ever. If you mention you're closing it because of the yearly fee then they're likely to offer you something.

Good to know about NAB when my anniversary comes up in June next year

 

[Dr Ralph]

Is it per calendar year ?

It is per calendar year:

'You can transfer your flybuys points in multiples of 2,000 for 870 Velocity Points. That’s up to 138,000 flybuys points per calendar year per household (equivalent to 60,030 Velocity Points).'

https://www.flybuys.com.au/velocity#/

 

[Bell21]

ANZ has extra bonus so 30% for ANZ to velocity.

Nice pick-up - thanks!

 

[Pleb Status]

Converted ~50k FB to VFF to make sure that I miss the 138k cap next year.

I also received an email from Amex last night stating that Ascent Premium customers get a 20% transfer bonus...

 

[twiningb]

I seem to recall that one or two 15% promos ago (last May or last November) there was an increase in the bonus right at the end of the month to 25% or something like that. Am I remembering correctly? Does anyone know if anything like that might be in the pipeline? I'm planning to trickle my Flybuys to Velocity in several tranches over the next few days but if there is going to be an increase in the bonus I'll hold off.

 

[Glider_]

I also saw on Ozbargain that Citibank was offering an extra 15% on top of the 15% bonus on transfers to VFF, which for those of us who prefer Krisflyer may offer a slightly better value proposition than direct Citibank-KF transfer. Can anyone confirm this?

 

[Bell21]

Converted ~50k FB to VFF to make sure that I miss the 138k cap next year.

I also received an email from Amex last night stating that Ascent Premium customers get a 20% transfer bonus...

Thanks for heads_up and offer extended to 9 dec

 

[theblank]

IDoes anyone know if anything like that might be in the pipeline? I'm planning to trickle my Flybuys to Velocity in several tranches over the next few days but if there is going to be an increase in the bonus I'll hold off.

its definitely in the pipeline, you should wait until just before midnight on 30th to transfer the points.

 

[Bell21]

its definitely in the pipeline, you should wait until just before midnight on 30th to transfer the points.

Assume you mean 9 dec, or is that only for amex transfers??

 

[twiningb]

Thanks @theblank.

 

[psi999]

Milk run complete. 2 x flybuys, ANZ rewards & Citi rewards for a nice little top up.

I hadn't realised citi had reduced the number of points required for transfer to 2000. Makes free for life signature companion diners even more attractive now for international spend.

 

[carls888]

I also saw on Ozbargain that Citibank was offering an extra 15% on top of the 15% bonus on transfers to VFF, which for those of us who prefer Krisflyer may offer a slightly better value proposition than direct Citibank-KF transfer. Can anyone confirm this?

Yes, I just transferred all my citi balance and there is an extra 15% on top of the Velocity 15%.

 

[Major]

I can't believe how quickly the points and bonus were transferred. From Flybuys to Velocity all on the same day

 

[twiningb]

I can't believe how quickly the points and bonus were transferred. From Flybuys to Velocity all on the same day

[Fry "not sure if..." meme].gif

I have transferred from Flybuys to Velocity dozens of times and it has always happened instantaneously.

Likewise Velocity -> KrisFlyer transfers have been instantaneous. (I've never tried KrisFlyer -> Velocity, which would only be worthwhile with KrisFlyer miles imminently expiring and no prospective booking.)

 

[QF WP]

I can't believe how quickly the points and bonus were transferred. From Flybuys to Velocity all on the same day

I’ve never had any issues with them in the past and my 2 transfers this month were also seamless

 

[Cryptarcadian]

Is the extension to 9 Dec published anywhere yet?

 

[Bell21]

Is the extension to 9 Dec published anywhere yet?

I may be confusing current Qantas transfer bonus, which I've seen written confirmation of