Is it worth earning 400 bonus flybuys points for a $1 purchase?


I recently was emailed a targeted promotion from FlyBuys.

It is 400 bonus points for any item from a particular range.
One item from particular range is $1 per item.

This is my calculation:
$1 item = 400 bonus FlyBuys points = 174 Velocity points

I bought two of the item the other day, as I do use the product.
I noticed that I got 800 Flybuys points.

My question is; is 174 Velocity points a good deal for $1?
I’m not good on the reverse-engineering of how much a point is worth when, essentially, I’m purchasing them.
And, should I go in and purchase the retail limit of this item each day until the promotion ends?

Thank you for anyone in the community who can offer some help.


Hello Jet Set Scotty!

I have only ever used Qantas points however it seems like you are indeed onto a good deal.  At a dollar for 174 points you are earning at 0.57 cents per point, which is well below Keith’s earn threshold of 1.2c in his latest valuations article.

If you managed to buy 1000 of the product you would have 174,000 points for only one grand.  To put that in perspective, velocity will charge you $1172 to top up 50,000 points.

The latest article on Point Hacks  outlines the best uses for 100,000 velocity points so well worth checking out if you want to see what value you could get for your purchases.

In saying all this sometimes my maths I dodgey so if someone else could confirm my calculations that would be awesome.  Also I know very little about the flybuys and velocity programs.

May I also add that it would be nice to see this post in the deals and tip section of the website.