G'day guys.
I'm new to the churn'n'burn credit card method, but I've jumped on a recent NAB deal landing me with 120k NAB points.
My question is; are there ever any deals on the transfer ratio of 2:1 NAB points to Velocity points? Or is that ratio locked in?
I can't find any mention of better transfer ratios on OzB…
Legend! Dissapointed in myself for my lack-lustre search effort.
It appears as though Oct/Nov we're due another round of offers so I'll hold off till then.
Dissapointed in myself for my lack-lustre search effort.
I am too. Here's the PointHacks article down the bottom they include the deal history. Can be useful for double status credits too (obviously different article but if it makes sense they will include history at the bottom).
https://www.pointhacks.com.au/velocity/transfer-bonus-promot…
This and OzBargain Premium go hand-in-hand. đŸ˜‰
Yup…Next one is due in Nov.
This might have been something you considered but the first 120k points requires you to turn on auto-redemption otherwise you do not get the bonus points - I got burned by ANZ on this one. Once you get the bonus points then what you do with the remainder of the points is up to you :)
I have 120k points. They haven't been able to transfer any yet and I'm waiting for a bonus points deal before switching it on. Are you sure about this?
The reward points show in my account. When do they disappear? You and I both basically paid for these points I'd be pretty upset and would definitely be contacting AFCA if they disappeared.
Was yours the NAB Velocity offer? or something different?
This is point 8 of the T&C's:
Offer commenced on 6 June 2023 and ends 31 January 2024. To be eligible for the up to 70,000 Velocity bonus Points offer (automatically redeemed from 140,000 NAB Rewards Bonus Points), you must be a Velocity Frequent Flyer member, apply for a new personal NAB Rewards Platinum Credit Card before the offer is withdrawn, have your application approved, provide your Velocity membership number to NAB to enrol in Auto Redemption, spend $1,000 on everyday purchases using your new card within 60 days of opening account and keep you card for over 12 months.
Not sure if they have the right to remove this but I didn't risk it :)
Velocity occasionally has transfer bonuses in the 10-15% range. Last one I can find was in late April, which included NAB. They run it 'semi-annually' according to that OP.