Velocity Upgrade Status for 12 Months on AmEx Transfers of 200k+

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American Express

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  jaybo on 05/05/2018 - 08:43

  i got the same email about transferring points but didn't notice anything about the status offer (though i'm VA gold so probably doesn't apply)
  neat way to get a status upgrade if you've got the points..

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  C0mbat on 05/05/2018 - 08:50

  Lol, does anyone actually have this many amex points? Everyone on here would surely transfer every time there's a transfer bonus?

  • 

    madrooster on 05/05/2018 - 08:54

    +8

    You never transfer to an airline until you actually have a specific redemption in mind. Amex is great as a points warehouse as Amex points don't expire unless you close your account, whereas airline points do expire. Take Singapore Airlines (SQ) for example, once you transfer them to SQ, they have a hard 3 year expiry.

    However under this month's promo, if you want SQ points and are transferring more than 750k points, it's actually better to transfer to VA first and leave them there as VA points you can extend the expiry by having account activity, then to SQ when you actually want to use them at SQ.

    In doing that you'll also pickup status with VA which is a deal we've never had before. The last time this kind of offer was on, you received more points transferring straight to SQ.

    • 

      C0mbat on 05/05/2018 - 08:56

      I kind of agree but if you wait then when you do want to transfer then you may miss a bonus period.

      • 

        madrooster on 05/05/2018 - 08:59

        +3

        These bonuses come around like clockwork so frequently you can almost plan on them happening.

        On top of that, transferring them to an airline means you're locked in to that airline or their partners.

        Leaving them at Amex potentially means you can fly up to 30 different airlines so it's a swiss army knife of points essentially.

      • 

        tunzafun001 on 05/05/2018 - 10:31

        @madrooster: Anyone know if you have a Plat Edge with MR Ascent points, then apply for a DJs AMEX can you transfer / roll over your Ascent points to the DJs card?

      • 

        bob19 on 05/05/2018 - 12:09

        +1

        @madrooster:
        Not quite right. They hardly ever have more than 15% bonus.

      • 

        nightelves on 05/05/2018 - 13:47

        @tunzafun001:

        No they’re two different programs.

      • 

        madrooster on 05/05/2018 - 18:55

        @bob19: The plat charge/centurion cards (which is largely the subject of this post) often gets 25-30%. They're just not published to the public but if you have such a card you would get the 30% bonus.

        When there's a 15% bonus on for the general public for the majority of cards out there, there's usually 25-30% for the plat charge/centurion cards.

    • 

      atlas on 05/05/2018 - 09:12

      Transferring to VA doesn't make sense if you want to redeem for SQ, since you'll cop another conversion penalty going from VA to SQ.

      • 

        madrooster on 05/05/2018 - 09:16

        That's incorrect under this promo. IF you transfer 750k points or more, then Amex -> VA -> SQ is actually better. The reason why is the penalty from VA to SQ is less than the 40% bonus.

  • 

    Coops1 on 05/05/2018 - 09:02

    More valuable transferring to SQ (or others) at the base/normal rate as there is never a bonus :(….. but unlike VA they expire. Warehousing mine until I need them, and who knows might be an SQ bonus at some stage.

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  bauser99 on 05/05/2018 - 09:01

  +1

  Actually if you have the points and usually transfer to Singapore Airlines Krisflyer this is an interesting option…

  More than 750,000 40% > transfer to Singapore Krisflyer at 1.3 : 1 ratio = 1.078 Krisflyer points per Membership rewards or approx. 8% bonus.

  I've never seen a Krysflyer bonus from AMEX so if you are sitting on a ton of points and usually redeem for Krisflyer keep this in mind :)

  • 

    madrooster on 05/05/2018 - 10:26

    +1

    Not quite…

    750,000 Amex points transferred to VA becomes 1,050,000 VA points at 40% bonus.

    VA points transfers to SQ at a 1.35 : 1 ratio, so:

    1,050,000 points transferred to SQ becomes 777,778 SQ points (they round up), which is a 3.7% bonus over transferring straight to SQ.

    Compared to transferring from Amex to SQ directly, it's a 1:1 ratio, so 750,000 Amex points = 750,000 SQ points.

    For everyone else who are frequent SQ redeemers, the better way to look at it is:

    1. VA points have a soft expiry which is easily extended, eg. ebay purchase using their online mall portal, compared to SQ having a 3 year hard expiry, which is great if you don't have flights to commit to just yet

    2. VA points can be redeemed directly for SQ flights and supposedly VA has more access to SQ availability than other SQ partners, so if the flights you want on SQ are available directly with VA then that's a bonus as it's costing you less points overall

    3. If the flights you want are available with SQ but not with VA, then you can take the transfer penalty to SQ and redeem via SQ. You will still come out ahead due to the above maths.

    4. You pick up status if you have the Amex plat charge or centurion card

• 

  mini2 on 05/05/2018 - 09:14

  I’d be all over this like a fat kid in a candy store if it’s Qantas/Oneworld not Virgin/Star Alliance. The other option is to leverage this to get a status challenge out of Qantas.

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  bob19 on 05/05/2018 - 12:19

  In regards to the status - it's a targeted offer.
  In regards to the bonus points - it's not targetted.

• 

  Associateddsar @ American Express on 05/05/2018 - 13:36

  Full Terms and Conditions + Different picture of e-mail

  Terms and Conditions

  Subject to the terms and conditions of the American Express Membership Rewards program in which you are actively enrolled, available at membershiprewards.com.au/termsandconditions. To transfer Membership Rewards points to Velocity Frequent Flyer you must be a member of Velocity Frequent Flyer. To sign up to Velocity Frequent Flyer online, visit velocityfrequentflyer.com/join.

  The Velocity Membership Terms and Conditions apply. For more on Velocity Status Membership Terms and Conditions please visit https://www.velocityfrequentflyer.com/content/Status/Benefit…

  1. The promotion period for this offer is 1 May to 31 May 2018 ('Promotion Period'). This offer is only available to American Express Centurion Members, American Express Platinum Card Members and American Express Platinum Business Card Members. To receive an upgrade to Platinum Velocity membership for 12 months, you must transfer a total of 500,000 Membership Rewards points in one or more transactions during the Promotion Period. To receive an upgrade to Gold Velocity membership for 12 months, you must transfer a total of 250,000 Membership Rewards points in one or more transactions during the Promotion Period. A minimum of 2,000 Membership Rewards points may be redeemed for Velocity Points at any one time. The 12 month period will commence from the end of the Promotion Period. In order to maintain your Status at the end of the 12 month period (on your Review Date), you will need to have earned the required Status Credits and flown Eligible Sectors. For more information on the requirements to maintain Status, please visit velocityfrequentflyer.com/content/Status/HowItWorks/

  Your new membership pack will be mailed to you within 4 weeks of the end of the Promotional Period, please ensure your address details in your Velocity account match the details of your Membership Rewards account. Upgrades will only be available to the primary Velocity account holder ("Beneficiary"), Status membership cannot be gifted or transferred to another member, this includes "Contributing Accounts" (as defined in the Velocity Membership Terms and Conditions) set up via Family Pooling.

  If you are already an existing Velocity Platinum member, you will be eligible to maintain your Platinum membership for 12 months from the end of the Promotional Period by transferring 500,000 Membership Rewards points during the Promotion Period.

  If you are already an existing Velocity Gold member, you will be eligible to maintain your Gold membership for 12 months from the end of the Promotional Period by transferring 250,000 Membership Rewards points during the Promotion Period.

  2.The bonus Velocity Points offer is applied after the transfer of Membership Rewards points and will not be counted towards the total points required for the Status upgrade. Points transfer requests that occur between 1 May and 31 May 2018 (‘Promotion Period’) will be eligible for the promoted Bonus Points offer. Centurion and Platinum Card Members must transfer their Membership Rewards points to Velocity Points within the Promotion Period to receive the Tiered Bonus Velocity Points. Tiered Bonus Velocity Points means the following percentage of bonus Velocity Points allocated to a member depending on the amount of Transferred Velocity Points in any one transfer under the promotion during the Promotion Period:

  • 1 – 100,000 Velocity Points = 15% Bonus Velocity Frequent Flyer Points

  • 100,001 to 250,000 Velocity Points = 20% Bonus Velocity Frequent Flyer Points

  • 250,001 to 500,000 Velocity Points = 25% Bonus Velocity Frequent Flyer Points

  • 500,001 to 750,000 Velocity Points = 30% Bonus Velocity Frequent Flyer Points

  • 750,001 plus Velocity Points = 40% Bonus Velocity Frequent Flyer Points

  One (1) Membership Rewards point equals one (1) Velocity Point when you transfer your points. A minimum of 2,000 Membership Rewards points may be redeemed for Velocity Points at any one time. The redemption of points will be administered solely by American Express and will take up to 3 business days to transfer into your Velocity Account. The bonus Velocity Points will be administered by Velocity Frequent Flyer which will also take up to 3 business days to transfer into your Velocity Membership Account. The Velocity Member Terms and Conditions apply, available at velocityfrequentflyer.com as amended from time to time.

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  mbck on 05/05/2018 - 13:43

  +1

  750k points. who has that many?!?

  • 

    bauser99 on 05/05/2018 - 16:02

    Mostly people that run a business and put business expenses through their card

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  coolsteps on 07/05/2018 - 10:34

  pitty its only for the plat charge and centurion cards otherwise id jump on it. are there any other promo or offers to get velocity gold membership out there?