ANZ improving transfer rates for Velocity effective 18 July

[Duffa]

We're making it easier to travel further with your ANZ Rewards card by decreasing the number of Rewards Points required to redeem Velocity Frequent Flyer Points and ANZ Travel Rewards. The number of Reward Points required for Cashback, Gift Cards and some merchandise rewards will increase. There are no changes to the number of Reward Points required to redeem donations, Air New Zealand Airpoint Dollars or airmiles for Asia Miles and KrisFlyer. Air New Zealand is no longer known as Airmiles, this is now Airpoints Dollars for Air New Zealand.


Anyone know how many points will now be required? (Can't get on to ANZ as I'm in the Canary Islands on a last minute SQ J saver via BCN!)
Should I transfer now and take the 15% or wait until July and hope the new rate is better than that.....?

 

[bullerdude]

My guess is it will change from 2.25:1 down to 2:1.

Therefore on the ANZ Black card there effective earn rates for Velocity would become VISA 1 : $1 and AMEX 1.5 : $1.

I base this presumption on the fact that they are unlikely to increase the Amex reward rate above that of NAB, Westpac etc. and that its about time they matched their rates.

As a side effect - if the effective earn rate for the VISA does become 1:1 (current rate is .88:$1) this this could become one of the better earning card combos for Velocity out of the major banks.

 

[mooingchicken]

you are better off with the 15% currently but if u can wait till the next bonus off (normally done twice a year so sept/oct time) then u are better off waiting

 

[albyd]

I called the rewards center last week and they said it would be going to 2:1 conversion for Velocity. I'd be interested in any confirmation other forum members have received.

I'm hoping there might be other confirmation (like on a website) before the current transfer bonus offer ends. I've got plenty of Velocity points so would keep them warehoused until the next bonus offer in November.

 

[mooingchicken]

I called the rewards center last week and they said it would be going to 2:1 conversion for Velocity. I'd be interested in any confirmation other forum members have received.

I'm hoping there might be other confirmation (like on a website) before the current transfer bonus offer ends. I've got plenty of Velocity points so would keep them warehoused until the next bonus offer in November.

Why do u need anymore conformation? the rates are going to get better, they haven't been vague and said they are adjusting/revising or the likes (which could of meant a decress). they are getting better which means no matter what you are better off waiting until the next bonus

 

[kylemcd]

New redemption rates are up: 2 reward points for 1 velocity point; no change for other programs.

That works out to 1.5 Velocity points per $1 spend on the Amex; 0.75 Velocity points per $1 spend on the Visa.

 

[bullerdude]

Actually it works out even better:

VISA 1pt/$ and AMEX 1.5pt/$

 

[kylemcd]

My maths must be off?

We get 1.5 reward points per dollar spend on the Visa.

We now get 1 Velocity point for every 2 reward points: 1÷2 = 0.5, so that's our conversion rate.

So, for $1 on the Visa, 1.5 reward points x 0.5 conversation rate = 0.75 velocity points.

Have I missed something?

 

[david123]

Actually it works out even better:

VISA 1pt/$ and AMEX 1.5pt/$

That makes it the best combination amex and visa/mastercard product for velocity earn?

 

[albyd]

My maths must be off?

We get 1.5 reward points per dollar spend on the Visa.

We now get 1 Velocity point for every 2 reward points: 1÷2 = 0.5, so that's our conversion rate.

So, for $1 on the Visa, 1.5 reward points x 0.5 conversation rate = 0.75 velocity points.

Have I missed something?

ANZ Black rewards is 2 ANZ Rewards points per dollar on Visa and 3 on Amex which at 2:1 conversion to Velocity is 1ppd on Visa & 1.5 ppd on Amex. Agree, now very competitive on Velocity transfer

 

[kylemcd]

ANZ Black rewards is 2 ANZ Rewards points per dollar on Visa and 3 on Amex which at 2:1 conversion to Velocity is 1ppd on Visa & 1.5 ppd on Amex. Agree, now very competitive on Velocity transfer

Ah, thanks: difference is between ANZ Black and ANZ Platinum.

But, yes, seems to be the best earner for Velocity points. I just signed up for the Amex Velocity Platinum in one of the referral threads here (earning a very tidy 110,000 velocity points, thank you very much Amex), and was trying to figure which is the better earner.

I drew up a small spreadsheet to compare them, and it seems that for everyday spend, the ANZ cards are much better. The Amex is only better for purchases on Virgin, at restaurants, other airlines and accommodation.

 

[Eggsbenedict]

Ah, thanks: difference is between ANZ Black and ANZ Platinum.

But, yes, seems to be the best earner for Velocity points. I just signed up for the Amex Velocity Platinum in one of the referral threads here (earning a very tidy 110,000 velocity points, thank you very much Amex), and was trying to figure which is the better earner.

I drew up a small spreadsheet to compare them, and it seems that for everyday spend, the ANZ cards are much better. The Amex is only better for purchases on Virgin, at restaurants, other airlines and accommodation.

Any chance of sharing that spread sheet?