Hi,
I’ve recently signed up to an explorer card. I’m understanding of the fact it is under the gateway program and the transfer rates that come as a result of that not being ideal. My question is, I see under my membership rewards I can click on velocity and it then prompts me asking if I want to switch my account to velocity? Firstly what does that mean?
Second question is when I do decide to transfer my amex membership rewards to any of the airline options available, does that then commit me to that airline? If not, how many transfers can I make to other airlines and do the transfer rates fluctuate?
The transfer rates you say are not ideal, I disagree. eg. transferring gateway points to Velocity at a rate of 4:3 equates to 1.5 VFF points per dollar spend (because you earn 2 gateway points per dollar). That’s about as high a rate you’ll get without spending $1200 p/a on a high end card.
When prompted to switch your account to Velocity, I wouldn’t. You will then always have the option to transfer points to any one of eight airline partners. You can transfer as many points as and when needed by linking to that partner and you can link to all eight airline partners as well as hotel partners. You are not committed to transfer all of your points and there are no restrictions on how often you transfer. There are of course minimum amounts you can transfer.
Additionally, if you do want to increase your stash of VVF points, it pays to wait for Velocity to offer transfer bonus points (usually 15%) which they do 2 or 3 times a year
Thanks a lot for your response. I only meant it wasn’t ideal in comparison to the transfer rates provided on Ascent. But that helped to explain all that quite clearly so I appreciate it.
One other question I do have is about SPG. I hear everyone, especially all my friends with amex’s in america go on about SPG. I’ve taken a look on their website and so far I can’t really see a justification in transferring at a rate of 1000:500 for their prices they have miles wise. Do you have any idea where/when it actually is worthwhile to redeem points via SPG?
