Best use of 250,000 flybuys points? Looking to fly Aus to Europe in Feb next year. Can transfer to velocity and get the 15% bonus at the moment, but limited to 138,000 flybuys points per calendar year. Not sure if that’s a year from when I transfer? Or just Dec to Dec? So I could do one lot now and another lot in January maybe?
Thanks for your time 
Hi duurs,
Yes, the 138000-point maximum is per calendar year (Jan 1 - Dec 31).
If you can fly from Sydney or Melbourne via Hong Kong to London using Virgin Australia and Virgin Atlantic, it’ll cost you 59,800 Velocity points in economy. To anywhere else in Europe, you’ll have to use Singapore Airlines or Etihad, and it’ll cost you 75,000 points from the east coast.
For the next few days, you can transfer 138000 FlyBuys points to Velocity and you’ll end up with just over 69,000 Velocity points. If previous years are anything to go by, you may possibly be able to transfer your remaining FlyBuys points in November if/when they have another transfer bonus then, or you may have to wait until next year.
So you have potentially enough points for a one-way flight to/from London now.
February, however, is an off-peak season. If you just want to fly in economy, it shouldn’t be amazingly difficult to get a return flight to many European destinations for $1200-ish. If you can manage that, it’s better value to simply pay for your flights and use your points for a higher value-for-points trip later (eg. flying business class).
In summary: transfer your FlyBuys points to Velocity now, while there’s a bonus offer. But consider paying cash for your trip in Feb.