Whether it's following your team through the NRL Finals, heading to Las Vegas for the season openers, or planning for Magic Round next season, if you've been building up rewards points from your bank without a plan for using them, now could be the perfect time to put them to work.
This August, Virgin Australia's Velocity Frequent Flyer Bonus Transfer campaign has been brought forward ahead of expected changes to Australia's payments landscape.
From October 1, the Reserve Bank of Australia's payment reforms are expected to take effect. Banks are expected to review their rewards programs, which could result in changes to earn rates, transfer ratios or bonus offers over time. Exactly how each bank responds remains to be seen, but with changes expected from October, now is a good time to make the most of the rewards points you've already earned.
For members with rewards points through ANZ, NAB, American Express, BOQ or MyCard, there's an added incentive to transfer now. Transfer your rewards points manually once in August and again in September to receive a 15% bonus in Velocity Points. Prefer to set and forget? Eligible ANZ, NAB, BOQ and MyCard customers can opt into Auto Transfer and receive a 20% Velocity Points bonus.
Not with one of the participating banks? The broader message is still the same. With the rewards landscape expected to change, it's worth taking stock of the points you've already built up and considering whether transferring sooner rather than later makes sense for you.
Whether it's a trip across the country for an NRL Finals clash, a bucket-list journey to watch your team in Vegas, or a weekend away for Magic Round, converting your bank rewards points to Velocity Frequent Flyer Points can help unlock more value from the points you've already earned. And if your team's season comes to an end earlier than planned, those points could be the perfect excuse to turn footy heartbreak into your next getaway.
With Virgin Australia's Velocity Bonus Transfer campaign running earlier than usual ahead of the anticipated October changes, now is the time to check whether your bank is participating and take advantage of the bonus before the campaign closes.
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