I currently have 79,151 CBA Awards points. There is currently a bonus offer if I convert these to Virgin Velocity Points. I am wondering what the best thing is to do.
My family (2 kids + 2 adults) are likely to go on a holiday within the year (flying domestic or international, not sure yet).
Advice appreciated.
[edit] Forgot to mention I currently have 17100 velocity points
depends how many velocity points you've got ;P
if you've got enough (including the new ones) to book all 4 people on reward flights then it might be beneficial, otherwise it's probably going to just be a pain in the ass trying to find reward seats for 1 ticket on the same flight as 3 paying guests and trying to tie it all together into one booking.
flight centre markups are likely to sting you more than the 395-316.60=$78.4 that you'll miss out on if you just convert to cash, so probably cash out (though ill let you do the exact math on that, it's just my suspicion not solid advice)
velocity points are great if you have enough to book business and can find enough reward seats to do it (220k return MEL-LAX if you can find availability… if…) but for 4 people on a family holiday it may just be too restricting to bother.
Convert to velocity. And sell the points 45195 points , get you $450 hard cold cash.
Can you sell points? How?
Once velocity hit your account. You can transfer to other velocity account.
What is the cash out option and the conversion rate?
If you get to 80,000 points you've got enough points for $400 worth of Coles Supermarket gift cards.
Personally have been converting to coles gift card (approx similar exchange rate with FLT) and when I decided to travel, I then look for cheapest fare online, go to FLT to price beat then use the remaining of my points.
if youre definitely going to travel in the next 12 months, flight centre, otherwise cash out.
not to say the virgin deal isn't good, but youre locking yourself into one airline, and possibly not the best flights with reward availability.
theres no rush for the flight centre or cash option, so don't redeem them until youre ready to move.