I have 103,000 HSBC reward points which will equate to about 50,000 Velocity points and I am wondering if this May promotion is the best time to transfer them to Velocity as I will only get a 15% bonus. Should I wait and see if better promotions come out later in the year?
With the current promotion, a transfer worth 100,000 Velocity points or more (ie. 200,000 HSBC points or more) will net you a 20% bonus.
If you don’t have a specific Velocity reward to aim for over the next 6-12 months, maybe hold off until you have 200,000 HSBC points and hope that there’s another 20% promotion after that?
Alternatively, if you’re looking into an overseas trip, it may well be more advantageous for you to transfer directly into one of HSBC’s other airline FF partners such as KrisFlyer.
My gut feeling: keep your points in HSBC for the time being, unless you think there’s a chance you’ll want to redeem the Velocity points within the next six months (there’ll probably be another 15% promotion in November).
Thanks. I think you are right. I don’t have any trips planned for the foreseeable future so I may as well hang on and try to increase my HSBC rewards. 15% is not worth rushing in to exchange rewards.