Velocity Frequent Flyer 15%-25% Points Transfer Bonus from AmEx Membership Rewards

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  gutenmuach on 18/02/2019 - 13:33

  I am new to all this AMEX-Frequent Flyer. Should I sign up to this current deal (expired today) "100,000 Bonus Velocity Points with The AmEx Velocity Platinum Card ($375 Fee)" https://www.ozbargain.com.au/node/435231 or wait after devaluation which potentially AMEX will have to come up with a good deal to entice people signing up? Appreciate any input.

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    Coops1 on 18/02/2019 - 17:12

    +1

    IMO, won’t get any better than 100k. The only extra you could get is if there was a generic referral offer and a friend could get 30k referral points bonus while you get 100k signup points.

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  LanceC on 19/02/2019 - 10:44

  Hi. Newbie question as I'm a newbie to chasing these rewards (specifically going after FF).

  1 - Can you often just cancel these cards in the few months post securing the points (alternatively let the card run out after 12 months adding no more expenses to it than that required to get the points?). Or does that effect a credit score (possibly invoke a fine print cancellation fee often?)

  2 - Does applying for a tonne of these (and /or getting approval) in a short amount of time massively damage a currently 'Excellent' credit rating? (say I chased 2-3 card deals a year from different entities).

  Thanks a tonne

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    illumination on 22/02/2019 - 19:51

    +1

    1 - Can you often just cancel these cards in the few months post securing the points (alternatively let the card run out after 12 months adding no more expenses to it than that required to get the points?). Or does that effect a credit score (possibly invoke a fine print cancellation fee often?)

    Yes, you can cancel after receiving the points. In terms of it affecting a credit score, as far as I am aware, cancelling (if anything) may only have a positive effect, because you are effectively "freeing up" some of your credit limit quota by cancelling a Credit Card. It's at the point of applying that you're more likely to have a negative effect on your credit score.

    2 - Does applying for a tonne of these (and /or getting approval) in a short amount of time massively damage a currently 'Excellent' credit rating? (say I chased 2-3 card deals a year from different entities).

    Probably. However, 2-3 card deals per year doesn't sound that bad. I try to stick to no more than about 1 per quarter.

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  tyank232 on 27/02/2019 - 16:20

  Can I buy points from a freind to increase by membership points balance?

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    illumination on 27/02/2019 - 16:56

    +2

    You're not allowed to by the T&Cs, no.

    But you can have a friend "gift" you Membership Rewards points (up to 50k/membership year)…. and then if you wish to repay separately in some other way, well, that's entirely your choice.

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  CI on 06/03/2019 - 12:22

  Hi all when i go to the points transfer it doesn't show the total including the 15% bonus - will this be applied afterwards or I should be seeing this ?

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    bargin424 on 10/03/2019 - 11:53

    Did you get your points?

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  AndyNBP on 09/03/2019 - 12:16

  Anyone Platinum Charge cardholder, will you transfer over 500,001 + 25% bonus and get Velocity Platinum Tier for 12 months?

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  mouseman99 on 12/03/2019 - 09:04

  It says the cut off is the 15th March. Does that mean the last date you can transfer from your Amex account or the date that the points have to be in your Velocity account by?

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    SydOzber on 13/03/2019 - 15:07

    To receive 15-25% Bonus Velocity Points you must transfer Membership Rewards points to Velocity between 15/02/2019 and 15/03/2019.

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      mouseman99 on 13/03/2019 - 15:16

      thanks for confirming.
      I'll hold off incase any other magical offer appears in the meantime

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        kulprit on 14/03/2019 - 18:27

        I've been waiting until tomorrow so should all be good for bonus points still.

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        SaberX on 14/03/2019 - 18:48

        Rang up and just did mine over phone. Service representative confirmed it is transaction date of tf not receipt so i would get the bonus points. I was worried with the up to 3 biz days to process esp as my velocity was first time processed.

        Would advise you do it by tomorrow as the chances of another offer less than 4 weeks after is very low imho.

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          SydOzber on 14/03/2019 - 23:49

          @SaberX: I have submitted the request yesterday and can see the points in velocity today.
          First time transfer from Amex to Velocity

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          kulprit on 15/03/2019 - 09:03

          @SaberX: Any reason to do over the phone rather than online?

          EDIT: Just tried to do online and can only transfer into my velocity account. I want to transfer to my wifes velocity. And she has a secondary card on the amex account too.

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            christina zhang on 15/03/2019 - 14:04

            @kulprit: Did you see the bonus icon in the velocity page when u did it today?

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              kulprit on 15/03/2019 - 14:59

              @christina zhang: Nope, was there when I was looking at about 10am, but no icon when I actually did the transfer at 12pm.

              I rang them first and they confirmed that if I transferred today I would get the bonus.

              With regards to using wife's velocity, can't do that but can obviously just transfer between velocity accounts later.

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            SaberX on 20/03/2019 - 00:13

            @kulprit: I did it over the phone as I was initially ringing up to query whether the transfer date or the date it hits velocity was when bonus points were received. Initially I was under the impression it was perhaps the latter so wanted to confirm over phone before rushing to do it.

            My velocity points came in dated 14th so pretty much the date of transaction and the bonus points also hit my account at the same time…

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  christina zhang on 15/03/2019 - 14:02

  I just did the transfer just now! however the BONUS icon next to velocity is gone in the transfer page! that worries me abit! as before it is always there and in the t&C it said about the bonus like the post too. any one transferring at the last minute too? I was saving up to 250k to get the 20%

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    Sammyboy on 15/03/2019 - 15:04

    I didn't see anything either. Guess we will find out in 3 days

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    magster on 15/03/2019 - 15:23

    +1

    I just called Amex, and the rep called Velocity to confirm it will be fine as long as the transfer is by today, for this promotion.

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  csg001 on 15/03/2019 - 21:37

  Transferred yesterday (14th), received the points today (15th) and the bonus points is shown on the next transaction line in my Velocity account. If you haven't transferred as of now, you might be pushing your luck.

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  povertytrap on 17/03/2019 - 02:00

  I transferred on the morning of the 15th and it showed as ‘processing’ on that date. Then the confirmation date shows the 16th. I hope I haven’t missed out.

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    povertytrap on 17/03/2019 - 02:10

    It’s ok I see it now.

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      JJlikes2eat on 17/03/2019 - 08:47

      Where did you see this?

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        povertytrap on 18/03/2019 - 11:06

        In my velocity account.

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