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THE TRANSFER MATRIX

Which points reach which airline.

The short answer

Transferable card points do not all reach the same airlines, and they do not all arrive at the same rate. This table holds every transfer ratio Points Herald has collected from a provider source, with the date it was collected and the date it changes.

A ratio of 2:1 means two card points become one airline point, so a lower first number is better. Providers move these, sometimes without warning and sometimes on a date already published — 4 ratios below have a change on the record, and each footnote gives the new figure alongside the day it lands.

Ratios in force
7
Source currencies
2
Airline programs
4
With an announced change
4
Card points to airline points — ratios in force 10 September 2026
Source pointsAir New Zealand AirpointsCathay Asia MilesSingapore Airlines KrisFlyerVelocity Frequent Flyer
Westpac Altitude Rewards180:1[1]3:1[2]3:1[3]3:1[4]
Amex Membership Rewards—3:1[5]3:1[6]2:1[7]

An em dash means this pairing is not in our collected set — it is not a claim that the transfer does not exist. Ratios are read from the provider’s own page on the date recorded against each row, and a figure a provider has announced for a future date is held against that date rather than shown here.

  1. Westpac Altitude Rewards → Air New Zealand Airpoints 180:1 · COLLECTED 9 SEPTEMBER 2026 · COLLECTED BY MACHINE, VERIFICATION PENDING Becomes 300:1 on 30 September 2026.
  2. Westpac Altitude Rewards → Cathay Asia Miles 3:1 · COLLECTED 10 SEPTEMBER 2026 · COLLECTED BY MACHINE, VERIFICATION PENDING Becomes 4:1 on 30 September 2026.
  3. Westpac Altitude Rewards → Singapore Airlines KrisFlyer 3:1 · COLLECTED 10 SEPTEMBER 2026 · COLLECTED BY MACHINE, VERIFICATION PENDING Becomes 4:1 on 30 September 2026.
  4. Westpac Altitude Rewards → Velocity Frequent Flyer 3:1 · COLLECTED 10 SEPTEMBER 2026 · COLLECTED BY MACHINE, VERIFICATION PENDING Becomes 4:1 on 30 September 2026. Velocity states a minimum transfer of 3,000 Altitude Points, then multiples of 500.
  5. Amex Membership Rewards → Cathay Asia Miles 3:1 · COLLECTED 8 SEPTEMBER 2026 · COLLECTED BY MACHINE, VERIFICATION PENDING Ratio recorded from a secondary source and not confirmed on an American Express or programme page. Re-checked 7 September 2026: americanexpress.com/au serves no ratio without signing in, and its own transfer page states the published rates are for Membership Rewards Ascent and may differ by card. Two American Express Australia change notices (Gateway_reward_changes.pdf and Ascent_reward_changes.pdf) state 2 Membership Rewards points to 1 partner mile effective 15 April 2019, which contradicts the 3 to 1 held here; neither is a current rate card. Cathay's American Express partner page for Australia did not yield a usable Membership Rewards ratio. The stored figure is unverified and the tier it applies to is unstated. Resolving it needs a signed-in read of the Membership Rewards transfer page. Re-sourcing attempted again 8 September 2026 and failed at three doors: the American Express Australia partner page for the programme 302-redirects to global.americanexpress.com/rewards/transfer, which is behind a sign-in; cathaypacific.com/cx/en_AU/our-partners/american-express.html publishes no Membership Rewards ratio; and singaporeair.com's Australian credit-card earning page returns 404. data_collected_at is deliberately NOT refreshed — the stored figure still rests on an aggregator and refreshing the date would make it read as freshly verified.
  6. Amex Membership Rewards → Singapore Airlines KrisFlyer 3:1 · COLLECTED 8 SEPTEMBER 2026 · COLLECTED BY MACHINE, VERIFICATION PENDING Ratio recorded from a secondary source and not confirmed on an American Express or programme page. Re-checked 7 September 2026: americanexpress.com/au serves no ratio without signing in, and its own transfer page states the published rates are for Membership Rewards Ascent and may differ by card. Two American Express Australia change notices (Gateway_reward_changes.pdf and Ascent_reward_changes.pdf) state 2 Membership Rewards points to 1 partner mile effective 15 April 2019, which contradicts the 3 to 1 held here; neither is a current rate card. Cathay's American Express partner page for Australia did not yield a usable Membership Rewards ratio. The stored figure is unverified and the tier it applies to is unstated. Resolving it needs a signed-in read of the Membership Rewards transfer page. Re-sourcing attempted again 8 September 2026 and failed at three doors: the American Express Australia partner page for the programme 302-redirects to global.americanexpress.com/rewards/transfer, which is behind a sign-in; cathaypacific.com/cx/en_AU/our-partners/american-express.html publishes no Membership Rewards ratio; and singaporeair.com's Australian credit-card earning page returns 404. data_collected_at is deliberately NOT refreshed — the stored figure still rests on an aggregator and refreshing the date would make it read as freshly verified.
  7. Amex Membership Rewards → Velocity Frequent Flyer 2:1 · COLLECTED 9 SEPTEMBER 2026 · COLLECTED BY MACHINE, VERIFICATION PENDING Velocity publishes this ratio for Membership Rewards Ascent and Ascent Premium members, and the same 2 to 1 for Membership Rewards Gateway. Business Ascent converts at 3 points to 2. Minimum transfer 2,000 Membership Rewards points, 3,000 for Business Ascent. American Express Australia does not publish the ratio on a page reachable without signing in — its own partner pages redirect to global.americanexpress.com/rewards/transfer, checked 8 September 2026 — so the receiving programme is the source here.
NO TRANSFER REQUIRED

Cards that earn the airline currency directly

A transfer ratio only matters when the points have to move. These cards in our tables credit an airline program directly, so no conversion step applies.

Direct-earning cards in these tables
CardEarns directly intoFact sheet
American Express Qantas UltimateQantas Frequent FlyerOpen →
ANZ Frequent Flyer BlackQantas Frequent FlyerOpen →
NAB Qantas Rewards SignatureQantas Frequent FlyerOpen →
Qantas Money TitaniumQantas Frequent FlyerOpen →
St.George Amplify Signature (Qantas)Qantas Frequent FlyerOpen →