Maximising Velocity rewards for your business

When you're in business, you need to make sure that every dollar you spend works hard for you, whether you're investing in quality equipment, new advertising or a stronger team. However, you can also make your business spending go the extra mile by collecting rewards points on your purchases with Virgin Airline's Velocity program.

What are Velocity points?

Velocity points are earned through the Virgin rewards program and can be redeemed on flights, accommodation, merchandise and more. The Velocity program is free to join, and your points will never expire as long as you remain an active member. Plus, you can redeem your points for any seat on any flight with space available, and you can travel over Easter, Christmas, school holidays and public holidays without restriction.

The Velocity program was introduced in Australia in 2005 with the same passion and ambition of every new Virgin product, and the aim to revolutionise the frequent flyer rewards systems, making them fairer and more valuable for the user.

How can you earn Velocity points for your business?

You can pick up Velocity points through business expenses such as:

  • Flights. You can earn Velocity points when you fly with domestic or international airlines such as Virgin Australia, V Australia and Delta.
  • Accommodation. While you're away on business you can also earn Velocity points on your accommodation at thousands of participating resort, hotels and apartments in Australia and around the world.
  • Car hire. Hiring a car makes your life easier at home and while travelling and also earns you points when you hire with Europcar, Thrifty or Hertz.
  • Business purchases. You can earn points on everyday business purchases such as stationery to make your regular purchases work harder for you.
  • Travel. You'll also earn Velocity points when you book into eligible accommodation or travel services such as hotels.
  • Eligible credit cards. You can earn points towards your Velocity balance every time you spend with an eligible credit card. All the major banks and lenders offer a Velocity rewards credit card so you aren't restricted to choosing a Virgin Money credit card. This means you can be earning points when you pay bills for your business, fuel up the company car or buy a business lunch, without having to look for a partnered business.

What options do you have for redeeming your Velocity points?

When your business has earned enough Velocity points, you can of course put those points towards domestic and international airfares with one of the Virgin partnered airlines. However, if you're not interested in jet setting away on your Velocity points, you can also redeem them for accommodation at some of the most luxurious hotels around Australia or overseas, car hire, gift vouchers or an inclusive holiday package for your next business trip. You can also use your points to shop the Velocity rewards store or make a donation to charity. 

Tips to earn more Velocity points

You can boost your Velocity points by qualifying for a gold or silver membership. To upgrade to a silver membership you need to earn 250 credits in a 12 month period, and you'll receive a 25% bonus on all points you earn.

To qualify for a gold membership you need to earn 500 credits in the previous 12 months, and you'll then earn a 50% bonus on all of your Velocity points. Plus the Velocity bonuses are awarded on all flights you take, where Qantas for example will only boost your points on flights over a certain length. You'll also benefit from business rewards such as priority check-in, complimentary access to the Virgin Australia lounge, access to over 130 international partnered lounges, priority boarding and additional baggage allowance as a gold member.

How to compare Velocity rewards credit cards

To really accelerate your Velocity points earning in your business, know how to compare the range of Velocity rewards credit cards available so you can collect points on every dollar you spend:

  • Business credit cards. If you are going to use a credit card for business spending, it is important you choose a dedicated business credit card to keep your personal and business finances separate.
  • Interest-free cards. Make sure you choose a business credit card with a long interest free period, so you can use your card for spending while you wait for your customers to pay. In this way you are using the bank's money for free. Just make sure you pay off the balance before the end of the interest free period because even a low interest rate will eat into the benefits of your rewards.
  • Credit card fees. Most rewards cards will add a high annual fee to cover the costs of their rewards program, so shop around for a competitive rate amongst the Velocity rewards cards which have comparatively low fees.
  • Rewards points. Weigh the amount of points you earn for each dollar spent against the interest rate and fees to make sure your business dollars work harder.
  • Card features. Your business rewards credit card can not only make your travel dollar go further, but can also protect you while you're away with features such as travel insurance and fraud protection.

This article was written by Timothy Ng from Creditcardfinder.com.au. For more information on Velocity Rewards, you can read his guide to Velocity Rewards credit cards at Credit Card Finder.

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