Should I transfer my ANZ rewards points to Krisflyer or Velocity?

Hi. I am an avid reader of point hacks and learning my way around the FF programs.

I have 138000 ANZ reward points expiring this month and wish to redeem them for FF points on either Krisflyer or Velocity.

I wish to gain the most value of the transaction. I currently collect Qantas FF points and while this is not possible in this transaction, happy to start with other programs. I like Krisflyer and am a member but already have my last 11000 points expiring there too this month. My wife and I are open to travel around in 2020.

Any suggestions would be helpful. Thanks in advance.

My answer is the annoying one - it depends.

I would think where you want to go first, then see which FF program can get you there, which cabin, which price etc… Then you can have a better decision.

In general with ANZ, you can redeem Velocity with 1:2 ration (so 69,000 points) and Krisflyer is worse ration of 1:3 (46,000 miles). But on the other hand, each KF miles “worth” more (I.e. the redemption costs less miles in comparison to Velocity).

On top of that, wait for a promotion. ANZ just had 30% bonus to transfer for Velocity (so 89,700 points in your case) and they even had 50% a few months ago.

I personally save for KF miles, but I still transfer to Velocity my ANZ points, because with the promotions, you end up with more KF miles.

transfer it to the airline that flies to the destination you are heading