300 bonus Velocity points - the worst Flybuys offer ever?

[Mr H]

Get 300 bonus Points* on your first Auto Transfer from Flybuys!

Mr H, turn on Auto Transfer today and for every 1,000 Flybuys points transferred to Velocity you will receive 500 Velocity Points*. Plus, if you transfer before 17 June 2021 you will also receive 300 bonus Velocity Points on your first auto transfer!*

I have about 200,000 Flybuys points. This offer is worth about 0.3% bonus to me - and must be worth even less to many. Is this the worst Flybuys bonus ever?

 

[ric_melb]

I also got this offer, and may have had similar before. So by initiating auto transfer you are transferring the risk you take by holding points from Coles to Velocity. I consider the risk with Coles to be many times less than the risk with Velocity/Virgin. Others may argue that the Velocity points are held in trust, as this matter came up when Virgin went into administration, however I am not one to chance this. Therefore I will retain my points in Flybuys, and if I wish to take a flight with Virgin transfer the points in time to book my flight.
300 Velocity points are technically worth $3.00 so why would you accept the risk involved in auto transfer for such a paltry sum?

 

[AisleSeat]

I dunno, this new one I got from them offering 500 FB on the first purchase with their new payment gateway "Flypay" was pretty bad.

 

[GSP]

I received. Not that interested for reasons ric_melb mentioned above.

 

[Rembrandt]

I dunno, this new one I got from them offering 500 FB on the first purchase with their new payment gateway "Flypay" was pretty bad.

The Flypay promotion is targeted and some people could earn up to 2000 points for using. I don't think 500 Flybuys points is a bad offer. It's a payment system (not buy now pay later) so no credit checks. So an easy 500 points if you need to purchase something online from one of the participating online stores within the promotion period.

I hope Flypay have partnerships with the likes of Catch and also offer bonus points offers into the future to attract people to using their payment service.