Velocity and BP have announced that you will soon be able to redeem Velocity Points in-store at BP. The ability to redeem Velocity Points at BP will be rolling out next week at BP stations nationwide.
Under the offer, members of Velocity will be able to redeem points for purchases between $10 and $60 at the point of sale. Members will be able to redeem for either in-store purchases or fuel.
Value of Points
The exchange rate that has been set is 1,667 points will give $10 off the bill. That values each Velocity Point at 0.6 cents each. This is roughly the same value that can be obtained for the points using Velocity Rewards store.
While this is inferior to the value that can be obtained for flight rewards, for people with small balances, it may provide a viable use for the points.
In order to redeem in-store, members of Velocity will first need to set up a PIN for their Velocity account.Â This can be done on-line under the ‘My Security’ link, once logged into your account.
When logged into your account, you will also be able to setup a dafault amount for the redemption. Unless you change it, the default amount that will be offered is $10.
In store at BP, the process will be to swipe the Velocity Card prior to payment, in order to redeem points. You will then be offered an option of redeeming points – and if selecting to do so, you will be prompted for your PIN.
While it makes for an interesting new option, it may not be for everybody due.