Sorry if this has been asked before, but couldn’t find a latest review. I hold a ANZ rewards Visa card and have 125K points on it which I would like to redeem for flight points. (FF points)
I am aiming to up my Qantas FF points (Already enrolled in Qantas Amex Ultimate card - 140K points), however seek your advice regarding putting all eggs into one basket…should I opt to redeem my ANZ rewards to either Velocity or Kris miles.
Also, I am conscious that (e.g.) Kris Miles expire and have to use within a time frame…so any advice would be highly appreciated.
I have about the same points on the ANZ card and was only doing the figures the other day. I think I got it right but someone may be able to correct me if I’m wrong.
ANZ to Velocity are: 2 ANZ to 1 FF point (2:1) so 125,000 = 62,500
ANZ to KrisMiles are: 3 ANZ to 1 FF point (1500:500) so 125,000 = 41,625
Until 31/05 you get 50% bonus with Velocity = 62,500 + 50% = 93,750
Velocity don’t expire KrisMiles do.
To then transfer out of Velocity to KrisMiles it is 1.34 Velocity to 1 KrisMiles, effectively 74% (close enough to)
So, 93,750 Velocity points to KrisMiles: 93,750 x 74% = 69,375
Conclusion:
Transfer to Velocity now before 31/05 to get the 50% bonus then to KrisMiles (whenever) you’ll gain 27,750 KrisMiles - you can “park” the points in Velocity as they don’t expire.
I’m reasonably new to this so hope I’ve worked it right. Someone let me know if not
The usual answer to these sorts of questions is that you should keep your points in ANZ rewards until you know what you want to do with them, and then transfer them into whichever program will get you to where you want to go. To be honest, that’s still pretty good advice.
However…
With ANZ Rewards the transfer rate to Velocity is so much better than KrisFlyer, it seems like a no-brainer to transfer your points into Velocity. Consider the following:
You'll get 50% more points if you transfer into Velocity rather than KrisFlyer. This is because you'll get 1 Velocity point for every 2 ANZ points, but 1 KrisFlyer point per 3 ANZ points.
Velocity points don't expire if you earn or use them at least once every 18 months.
Even if you choose to subsequently transfer your Velocity points into KrisFlyer, you'll still get more KrisFlyer points from your ANZ points if you transfer them into KrisFlyer via Velocity.
If my sums are correct (and I am a truly horrible mathematician so proceed with caution...), and unless I'm missing something, then Velocity is the clear winner. And we haven't even considered the occasional Velocity transfer bonus deals (one's on right now, until May 31), which make Velocity even more attractive.