What could you get for 250,000 or 500,000 Velocity Points?

Could your home loan come with a side of travel? Or even the funds to furnish your living room? Stock the fridge for months straight? Canstar has partnered with Velocity Frequent Flyer to make this a possibility: A home loan with a stack of rewards points, up to 500,000 of them (conditions apply). We take a look at what this means if you choose to redeem Velocity Points for gift cards, travel and products.
What could 250,000 Velocity points, or even 500,000 Velocity points be worth? Sure, there’s no hard-and-fast answer to how much a rewards point is worth in hard cash, as it depends on what you redeem it for (and how much you spent to get that point in the first place).
But by using Velocity’s tools and crunching the numbers, these two Velocity milestones could currently net you enough voucher dollars to spend at Apple to nab the latest iPhone, or enough gift cards at Coles to cover your groceries for the next few months, or even take a holiday to Fiji or Tokyo. Below are some examples of what these two Velocity milestones could net you at the time of writing.
We’ve chosen these two points amounts because Canstar has partnered with Velocity, plus a range of home loan providers and brokers, to offer consumers that take out a residential home loan the opportunity to earn up to 500,000 Velocity points:
- 125,000 points: For drawing down a qualifying amount of at least $500K by applying through a participating broker.
- 250,000 points: For drawing down a qualifying amount of $250k – $999K by applying through a participating lender.^
- 500,000 points: For drawing down a qualifying amount of $1million or more by applying through a participating lender, (except Loans.com.au.)
While special offers can be attractive for some customers, it is important to remember that it may not be worth signing up for a particular product solely for a special deal. The fundamental aspects of the loan, such as its interest rate, fees and features, are the most important considerations.
Learn more: What to look for in a home loan
What can you get for 500,000 Velocity points?
Gift Cards:
We’ve crunched the numbers from Velocity Rewards Store to find out how much you may be able to redeem in gift cards for various brands. For 500,000 points, it could be possible to redeem cards worth the following amounts from these brands:
- Coles: $2,525
- Apple: $2,650
- David Jones: $2,600
- Ikea: $2,600
- Myer: $2,575
- JB Hi-Fi: $2,550
Please note: Terms and Conditions apply. Information presented is correct as of 1 August, 2023 and stock is subject to change at any time.
Products:
Redeeming Points for goods at the Velocity Rewards Store could help you to set up your home. As an example, the groupings of products below could be redeemed for 500,000 points:
Luxe Lifestyle:
- Bathroom
- Sheraton Luxury Egyptian 5 Piece Towel Pack: 15,340 points
- Sheraton Luxury Indi Stripe Vintage Wash Queen Bed Quilt Cover Set (Rose): 21,602 points
- 2 x Sheraton Luxury Microplush Bathrobe: 19,240 points
- BVLGARI Man Glacial Essence Eau de Toilette Spray 100ml: 35,446 points
- Dolce & Gabbana Shine Eau de Parfum 50ml: 21,662 points
- Dining
- 2 x Noritake White on White 12pc Setting for 4: 64,040
- Noritake Chambery 18/10 Stainless Steel 56pce Cutlery Set: 43,238 points
- Noritake IVV Tasting Hour Highball Set of 6, 450ml: 20,361 points
- Noritake IVV Tasting Hour Red Wine Set of 6, 490ml: 20,316 points
- Going out
- $1,200 (12 x $100) in Restaurant Choice Gift Cards
Robo Vac:
- Dyson 360 Vis Nav Robot Vac: 430,515 points
Games Room:
- Sony – PlayStation 5 Console and White DualSense Bundle: 174,281 points
- Sony – PlayStation 5 HD Camera: 19,674 points
- Sony – PlayStation 5 Media Remote: 10,822 points
- Bose TV Speaker, Black: 66,223
- 11 x JB Hi-Fi $100 gift cards ($1,100 for a TV)
Grooming:
- Dyson – Airwrap Complete Multi-Styler: 174,867 points
- Dyson – Corrale Cordless Hair Straightener – Copper/Nickel: 129,320 points
- Panasonic Multi-Flex 5-Blade Rechargeable Shaver ES-LV67-K841: 74,687 points
- Philips Sonicare ExpertClean Electric Toothbrush – Black: 57,070 points
- Philips Sonicare Cordless Power Flosser Black – HX3806/33: 39,149 points
- Alcyon Ultrasonic Diffuser Sol: 24,545 points
Please note: Terms and Conditions apply. Information presented is correct as of 1 August, 2023 and stock is subject to change at any time.
Holiday:
For 500,000 Velocity Points (based on the examples in the section below, at 1 August, 2023), it could be possible to book a holiday for two people, staying five days at:
5-Star Sunshine Coast holiday on Velocity Points:
- Fly Economy Melbourne to the Sunshine Coast, return: 37,600 Points
- Staying at The Sebel Maroochydore (5 Stars): 438,500 points
Bali holiday on Velocity Points:
- Fly Economy from Melbourne to Bali, return: 89,200
- Stay at Seminyak (Bali), Indonesia, at FuramaXclusive Ocean Beach Hotel Seminyak (4 star): 210,600 points
Please note: Terms and Conditions apply. Information presented is correct as of 1 August, 2023 and stock is subject to change at any time.
What can you get for 250,000 Velocity Points?
Using the examples in the above section, it could be possible to redeem 250,000 Velocity Points for such things as:
Gift Cards:
We’ve crunched the numbers from Velocity Rewards Store to find out how much you may be able to redeem in gift cards for various brands. For 250,000 points, it could be possible to redeem cards worth the following amounts from these brands:
- Coles: $1,250
- Apple: $1,300
- David Jones: $1,300
- Ikea: $1,300
- Myer: $1,275
- JB Hi-Fi: $1,250
Please note: Terms and Conditions apply. Information presented is correct as of 1 August, 2023 and stock is subject to change at any time.
Products:
Redeeming Points for goods at the Velocity Rewards Store could help you to set up your home. As an example, the groupings of products below could theoretically be redeemed for 250,000 points:
Outdoor Fun:
- Weber – Q Black (Q2000) LP Only BBQ – Black: 104,761 points
- Weber – Q Portable Cart – Black: 35,036 Points
- Weber – Q Patio Cart Cover – Black: 13,734
- With 153,531 points left over to spend on Coles vouchers (about 7 x $100 vouchers)
Kitchen Capers:
- Breville – The Barista Express Coffee Machine: 157,270 points
- Victorinox Classic Round Tip Wavy Cutlery 24 Piece Set: 56,378 points
- Victorinox Classic Kitchen 4 Piece Knife Set: 28,160 points
- Maxwell & Williams – Mezze Cheese Knife Set 4 Piece Gift Boxed – Charcoal: 5,334
Go, Go Gadget:
- Samsung Galaxy Tablet S6 Lite 10.4″ Wi-Fi 128GB – Grey: 125,659 points
- Samsung Galaxy Buds 2 Pro: 53,811 points
- Fitbit – Versa 4 (Black/Graphite) 67,212 points
Please note: Terms and Conditions apply. Information presented is correct as of 1 August, 2023 and stock is subject to change at any time.
Holidays:
While it might not be possible to cover all holiday expenses with 250,000 Velocity Points, you could redeem them to help cover some of the costs. It could be possible to book a holiday for two people, staying five days at:
Fiji holiday on Velocity Points:
- Fly Economy Sydney to Nadi, Fiji: 71,200 points
- Stay at Rakiraki, at the Tanoa Rakiraki Hotel (3 Stars): 138,400 points
Japan holiday on Velocity Points:
- Fly Economy Sydney to Tokyo: 139,200 points
- Stay at Ueno, APA Hotel TKP Nippori Ekimae (3.5 stars): 91,400 points
Please note: Terms and Conditions apply. Information presented is correct as of 1 August, 2023 and stock is subject to change at any time.
How we worked this out:
Redeeming Velocity Points for gift cards
- We looked at Velocity Frequent Flyer Rewards Store on 1 August, 2023, and searched for ‘gift cards’, and then selected a brand (there are many more available than represented in the list above).
- We minused the Points cost of the highest dollar value gift card available for that brand from 500,000.
- Then, with the leftover points, we worked out how many extra cards could be redeemed, for the various denominations available. For each example, there were Points left over.
Redeeming Velocity Points for products:
- We went to the Velocity Frequent Flyer Rewards Store (on 1 August, 2023).
- We created a shopping cart with products, which added up close to, but less than, 500,000 points.
Keep in mind that the store’s points totals, and products, could change. Velocity says shipping is included in the Points total.
Redeeming Velocity Points for a Holiday:
Redeeming Points for flights:
- We looked at the Virgin Australia flight booking website, to find locations to which Virgin and its partner airlines fly direct (that is, with no change in flights or stop overs, as this can impact the Points needed). To keep it simple, we based this on a one-way adult Economy fare. We used flight dates for September (our theoretical travel time).
- We then used the Velocity Mileage estimator to calculate the mileage to fly from main cities in Australia to those destinations (as the number of Points needed to redeem a flight depends on the mileage to that destination, among other things).
- We then looked at the mileage/rewards tables provided by Velocity (also on the Mileage page) to find an estimate of how many Points would be required to book that flight. When there were upgrades available, we selected the lowest Points option.
- We multiplied that number of Points by two (for return flight) and then again by two (for the extra passenger).
Redeeming Points for accommodation:
- We subtracted the flight points from the points balance (either 250,000 or 500,000 points, in the above examples), to find out how many points we had left to use for a hotel stay.
- We then used the Velocity + Rocket Travel website to find a five-day stay at the star rating indicated, at the location that matched the airport location. Transfers may be required to accommodation.
Keep in mind that these are estimations only and provided as a general example. Check the Velocity website for details and Points costs. Extra fees and charges could apply, particularly if travelling overseas. Bookings for hotels and flights are impacted by availability, so it could be helpful to be flexible when it comes to your holiday plans.
What can you redeem Velocity points for?
You can redeem Velocity Points for a range of rewards, such as:
- Holidays: Flights and upgrades, hotels and car hire
- Shopping: Products in their Rewards Store, including gift cards.
Redeem Velocity Points for holidays
You can redeem Velocity points to help with a range of travel costs, such as for flights, accommodation and car hire. We’ve rounded up some examples below.
Velocity Points for flights and upgrades
Redeem points for seats on flights, via the Velocity website. This includes domestic and international travel, including partner airlines.
There are also ‘Reward Seats’, which are certain “all-inclusive” seats available on flights for Velocity members, offering complimentary checked baggage allowance, seat selection and in-flight entertainment.
How does it work?
Explore flights with Virgin Australia and its partner airlines, to get an idea of what’s involved in your planned travel, such as stop overs and which partner airlines offer which legs of the flight (for international trips). It can help if you are a little flexible on your timeframe, as rewards seat availability could be limited on flights depending on demand.
Then, go to Velocity’s mileage calculator. This can help you to work out an estimate of how many points you’ll need to travel to your destination. (Keep in mind that extra fees may be charged in addition to points, and extra points may be added to the cost if there is a stopover or a change in airline. Check the cost before booking.)
Once you’ve worked out what flights you want to book, and have a rough estimate of the points it will cost, you can then redeem your points via the Velocity website or the app. You can also typically contribute cash to help cover the cost of a seat, if you don’t have enough points. This is called Points + Pay.
How many Velocity points do I need to fly for free on Virgin?
This depends on where you want to go, and when you are going. Plus, there could be fees and charges (such as carrier charges and tax) which you may have to pay out-of-pocket, as they are not covered by points.
For example, Velocity states (at the time of writing) that the minimum Reward points required for a one-way Economy flight:
Domestic travel
- Melbourne to Sunshine Coast – between 9,400 and 14,900 points
- Brisbane to Perth – between 14,100 and 21,900 points
Trans Tasman and ‘Short Haul’ routes by Virgin Australia
- Trans-Tasman: Flights between Australia and New Zealand & Fiji.
- Brisbane to Auckland, New Zealand, for 1427miles/2283km – 17,800 points
- Sydney to Nadi, Fiji, for 1971 miles/3153km – 17,800 points
- Short-Haul International to: Flights between Australia and Christmas Island, Cocos Islands, Indonesia & Japan.
- Sydney to Tokyo, Japan, for 4,863 miles/7,780km – 34,800 points
- Melbourne to Bali, Indonesia (Denpasar), for 2,725 miles/4,360km – 22,300 points
Partner airlines, for selected international travel routes
Partner airlines Include United Airlines and Virgin Atlantic, plus Etihad Airways, Air Canada, Singapore Airlines, Qatar Airways, Hawaiian Airlines and South African Airways. Please note: Points needed may be higher depending on route, stops and other variables.
- Sydney to San Francisco, USA (United Airlines, direct), for 7,417 miles/11,867km – 44,800 points
- Brisbane to Doha, Qatar (Qatar Airlines, direct), for 7,662 miles/ 12,259 kms – 56,000 points
The amount of points required depends on availability of and demand for seats on a particular flight and time, according to Velocity. Other fees, charges and taxes apply in addition to the points.
You can also use points to upgrade your seat to Business Class on Virgin Australia Domestic flights.
Velocity Points for Hotels
There are more than 400,000 hotels, all over the world, where you can book accommodation using Velocity Points. You can also contribute funds towards your stay, if you don’t have enough points. (This service is facilitated by Rocket Travel.)
For example (indicative only, based on rates for 24-29 Sept):
Five nights in one room for two guests, staying at:
- Sunshine Coast, The Sebel Maroochydore (5 Stars): 438,500 points
- Seminyak (Bali), Indonesia, at FuramaXclusive Ocean Beach Hotel Seminyak (4 star): 210,600 points
- San Francisco, Hotel Caza Fisherman’s Wharf (4 stars): 337,900 points
Velocity Points for Car Hire
You can use points to pay for car hire (via Rocket Travel), with Velocity partner brands, such as Europcar, Hertz, Sixt, Thrifty and Dollar Car Rental. You can also use Points + Pay, so if you don’t have enough points you can contribute funds towards the cost.
Redeem Velocity Points for shopping and gift cards
Velocity Points for buying products
You can use Velocity Points to purchase goods via the Velocity Rewards Store. The ‘value’ that you can redeem for your points varies between products.
For example:
- Apple – iPhone 14 Pro Max 512 GB: 471,584 points
- Samsung Galaxy Z Flip4 512GB (Purple): 346,700 points
- Dyson 360 Vis Nav Robot Vac: 430,515 points
- Weber – Q Black (Q2000) LP Only BBQ – Black: 104,761 points
- Breville – The Barista Express Coffee Machine: 157,270 points
- Victorinox Classic Round Tip Wavy Knife 24 Piece Set: 56,378 points
Swap Velocity Points for gift cards
You can also purchase gift cards via the Velocity Rewards Store. (Limits may apply.) The cards come in various denominations, from $25 up to $1,000 for some brands (such as Apple).
Brands include:
- Apple
- Coles
- Myer
- David Jones
- Ikea
- BCF
- Bonds
- Bunnings
- The Iconic
- Ebay
- EB Games
- Freedom
- And many more.
Cover image source: Pikoso.kz/Shutterstock.com
This article was reviewed by our Editor-in-Chief Nina Rinella and Content Lead Ellie McLachlan before it was updated, as part of our fact-checking process.

A journalist for more than two decades, Amanda Horswill has reported on a galaxy of subjects, including property, lifestyle, hyper-local news, data journalism, the Arts and careers.
She’s served as the Editor of Brisbane News, Deputy Features Editor for The Sunday Mail, Deputy Editor – Digital at Quest Community News, and a host of other senior positions at News Corp, prior to joining Australia’s biggest financial comparison website, Canstar.
Amanda is fascinated with the ever-changing world of finance. A passionate believer in the motto “knowledge is power”, she strives to translate the news into practical information that will help readers make informed decisions about their future. While at Canstar, her work has been regularly referenced by publishers such as the Sydney Morning Herald , The Age, The New Daily and Yahoo Finance.
Amanda holds a Bachelor of Arts (Journalism, Media Studies and Production, and Public Relations) and a Graduate Certificate in Editing and Publishing, from the University of Southern Queensland.
Follow her on LinkedIn and Canstar on Facebook. Meet the Canstar Editorial Team.
The comparison rate for all home loans and loans secured against real property are based on secured credit of $150,000 and a term of 25 years.
^WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
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The comparison rate for all home loans and loans secured against real property are based on secured credit of $150,000 and a term of 25 years.
^WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.