Not-so-frequent flyers can now redeem Velocity points at BP

Velocity members will now have even more flexibility in how they redeem rewards points, after Virgin Australia announced members can now fill up at BP petrol stations and pay with Velocity Frequent Flyer points.

Virgin is the first Australian airline to introduce a scheme allowing spenders to use their accrued points to pay for petrol, and only the second airline worldwide to do so. Now, customers who don’t see any value in redeeming points for free flights have another, day-to-day option.

Velocity Frequent Flyer CEO Karl Schuster described the new initiative as a “game changer” for Aussie families, saying “We know some members drive much more than they fly, so this gives them an alternative way to use their Points that will ease the pressure on their wallet.”

The scheme will allow customers to redeem between $10 and $60 each time they hit the pumps at a participating BP petrol station, which could offer significant savings, since, according to ABS statistics quoted by BP and Velocity, Aussie households spend an average of $60 a week on petrol.

“This new offer will help Australians rethink how they refuel,” said BP General Manager, Marketing & Offer Development Adam Arnold. “The cost of fuel is a significant household expense, and we want to help reduce the impact on household budgets.”

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To redeem $10 worth of fuel, Velocity members would have to build up 1,667 points. Shoppers at BP can earn 2 points for every litre of fuel they purchase (up to 150 litres per transaction) and 2 points per $1 spent in BP stores (up to $100 per transaction).

That means, that to earn $10 back on their next fuel stop, customers would have to purchase 834 litres of fuel. At an average price of $1.20 per litre, that would mean a spend of about $1,000, requiring at least 6 different fuel stops, because of the 150 litre cap on single transactions.

Velocity points earned at BP can be pooled with eligible family members, making it easier for households to reach their points goals, but seasoned points gatherers will know to read the terms and conditions closely to make sure their spend is included in the scheme. For example, Velocity customers won’t earn points on purchases of products including cigarettes, lottery tickets, prepaid mobile phone cards or gift cards.

• Pool your points with eligible family members to reach your goals quicker. You can pool points with up to 6 family members, but only 2 can be above 18 years of age.
• Use your Velocity credit card. A quick way to boost points is by using your Velocity branded credit card to make purchases at BP. That way, you’ll earn double points - once on your Velocity card and once with BP.
• Take a holiday. Big ticket purchases like flights or accommodation made with your Velocity credit card will rack the rewards points up faster.
• Fly Virgin. When you book that holiday, make sure you’re flying with Virgin airlines or one of its partners to snag the points. On a domestic Virgin flight, you’ll earn up to 5 Velocity points for each $1 spent on airfares.

Read more about the Velocity Frequent Flyer program and how to rack up the most points in our guide, and if you need to pick up a Velocity branded credit card before getting started, head over to our rewards credit card comparison table to find the right one for your wallet.