American Express and Velocity have teamed up once again to a offer a transfer bonus. This time with a few extra perks. We have heard that American Express are sending out 15% transfer bonus to Velocity for most of their card members. However those holding premium AMEX cards like the Platinum charge and Centurion are being offered a 20% to all transfers to Velocity. On top of this, depending on how many points you transfer you may even get free Velocity Gold or Platinum.
How much do I need to transfer for Velocity Status?
There are three tiers for this promotion dependent on how many American Express membership points you transfer:
- Up to 399,999 points: you will just receive a 20% bonus on Velocity points.
- Between 400,000 and 799,999 points: you get the same 20% bonus as well as Velocity Gold for 12 months.
- And above 800,000 points: again you get the 20% and Velocity Platinum for 12 months.
Another bonus is after the 12 months of your status upgrade is up you will get downgraded rather than losing it outright. This means those who get the Platinum bonus will also get Gold status for another year. And Gold members will get another year of Silver.
Is it worth it transfer points for the status upgrades?
This definitely could be worth it for those people who have a high spend on their charge card. Additionally if they don’t fly Virgin enough to get status; this deal could be worth it. Perhaps someone who mainly flies Qantas and has status with them but occasionally has to fly with Virgin. This deal could allow you to expand your flight and loyalty options.
If you already have status, then your status will just be extended for another 12 months from the end of the promotion period. So depending where you are in your status year, this greatly reduces the value proposition of this deal. Most of the value with come from the 20% bonus which may be worth it to some. Remember the AMEX points are very flexible and can be transferred to many different programs.
What do you guys think? Planning to take this offer for the status upgrade or the bonus points? Let us know in a comment below. We like to hear you opinions on these deals.