As part of the ongoing member month, American Express have launched a transfer bonus promotion for members of Velocity Frequent Flyer Program. If you have an Amex card that earns Membership Rewards Points, this is your opportunity to pocket up to 20% bonus points. The promotion starts today and cardmembers have until the end of the month (31 August 2023) to transfer points and earn the bonus.
Note that this promotion is exclusive to American Express and other Velocity partners are not included.
Earn 10-20% bonus Velocity Points
All American Express Cards (personal, corporate and Business) that earn Membership Rewards Points can benefit from the offer. The promotion gets incrementally rewarding, meaning the more points you transfer, higher your bonus.
The following transfer and bonus rates apply to Personal & Corporate Cards.
- For Transfers of up to 100,000 Membership Rewards Points (per transfer), card members will earn 10% Bonus Velocity Points.
- For Transfers of between 100,000 and 400,000 Membership Rewards Points (per transfer), card members will earn 15% Bonus Velocity Points.
- For Transfers greater than 400,000 Membership Rewards Points (per transfer), card members will earn 20% Bonus Velocity Points.
The standard transfer rate from Amex to Velocity is 2:1 (2 Membership Rewards Points = 1 Velocity Point). That ratio is boosted by up to 20% (2 Membership Rewards Points = 1.2 Velocity Points) during the promotional period if you transfer 400,000 Membership Rewards Points or more.
For instance, if you exactly transfer 400,000 Points, you will receive 240,000 Velocity Points.
Redeem Velocity Points to fly Air Canada Business Class
The following transfer and bonus rates apply to Business Cards.
- For Transfers of up to 75,000 Membership Rewards Points (per transfer), card members will earn 10% Bonus Velocity Points.
- For Transfers of between 75,000 and 300,000 Membership Rewards Points (per transfer), card members will earn 15% Bonus Velocity Points.
- For Transfers greater than 300,000 Membership Rewards Points (per transfer), card members will earn 20% Bonus Velocity Points.
To earn the full 20% bonus, you need to transfer a minimum of 300,000 Membership Rewards Points which during the promotional period will fetch you 180,000 Velocity Points.
Transfers are generally instant and the bonus points are credited alongside standard points. However, as per the terms of the promotion it may take up to 6 weeks for the bonus points to be credited to your account, so just be aware of that in case the bonus points do not post immediately and you are relying on those points to complete your booking.
The other important point to be aware of is that once points have been transferred out of Membership Rewards to your Velocity Frequent Flyer Account it is not possible to have these reversed back into your Membership Rewards Account.
In Conclusion
American Express Card members can transfer points to Velocity and earn up to 20% bonus points until the end of the month.
Here I want to emphasise that Velocity points are some of the easiest points to earn in Australia, so unless you have confirmed travel plans and have found reward seats, I wouldn’t recommend you transfer points. These promotions come around at least 2-3 times a year and even the 20% bonus isn’t something to get overly excited about.
Do you plan to take advantage of the promotion and transfer points? Leave a comment below.
