Transfer Amex for 50% Bonus?

[snufl]

Hi, I need some help. My husband is going to cancel his Amex card and so needs to transfer out 50K points. At the moment we can get a 50% bonus for transfer to Velocity but we don't know if this is the best option for us.

Points situation : Currently combined we have 270K with Qantas and 310K with Virgin Atlantic.
Cards: He has 50K points Amex and I have 100K Amex. He also has 30K Citibank (Qantas transfer only).

From experience I know it can be difficult to get seats with Qantas but as we will retire soon at least we can be flexible with travel dates (but this will limit our future points earning). We haven't used any Virgin Atlantic points yet so we don't have any experience with redeeming from them, but we hope to go to Europe. Neither of us have any status with any airline.

My question really is whether to transfer the 50K points to Velocity or Virgin Atlantic. The 50% bonus is tempting but I don't want to opt into another program just on that basis. Can anyone already experienced with Velocity give any pros and cons. Any advice or thoughts will be appreciated.

 

[Mal]

In another thread, it was mentioned that it might be possible to transfer Amex points from one account to another.

If that's the case, then you could avoid the concern about rushing to dispose of points before you actually want to use them.

http://www.frequentflyer.com.au/community/146647-14-post.html

The 50% velocity bonus finishes at the end of this month, so if wanting to use that you should get in relatively quickly.

I have no experience with redeeming Velocity points, but overall the scheme looks good (although a bit pricey on some flights).

 

[snufl]

Thank you Mal for your advice about the transfer to another account, I didn't know this was an option. We have the application coming in the mail.

We have been saving points for a long time with the goal of a couple of overseas trips once we retired so this seems the best option for us.