Devalued transfers Velocity / KrisFlyer from 1.35 to 1.55

[ozjuice]

This can't be good can it?

Velocity
Singapore Airlines and Virgin Australia allow members of both KrisFlyer and Velocity Frequent Flyer to convert Miles and Points between both programmes.


Convert your KrisFlyer miles to Velocity Points and enjoy greater access to upgrades and reward seats across the domestic and international Virgin Australia network as well as non-flight redemption rewards in the Velocity Rewards Store.


Receive 1 Velocity Point for every 1.35 KrisFlyer miles converted before 1 January 2019. After 1 January 2019, you will receive 1 Velocity Point for every 1.55 KrisFlyer miles converted, and Velocity Points will be credited directly to your Velocity Frequent Flyer account from then. A minimum of 5,000 KrisFlyer miles is required for each conversion. Please note that all miles converted cannot be reversed.

 

[Happy Dude]

Just received said email too. Some serious noodle scratching to be done before 1 Jan 2019. Any devaluation is disappointing.

 

[williamsf1]

PROGRAM UPDATE
Points Conversion with Singapore Airlines KrisFlyer
15 Oct 2018

In November 2014, we launched our world-first conversion initiative with KrisFlyer as part of our partnership with Singapore Airlines. This initiative has enabled members of both Velocity Frequent Flyer and KrisFlyer to transfer and convert Miles and Points between programs.

From 1 January 2019 Velocity Frequent Flyer members will convert their Points to KrisFlyer Miles at a rate of 1.55 Velocity Points to 1.00 KrisFlyer Mile[1]. The change in conversion rate reflects the differing reward program currencies within which each airline program operates and transacts.


Terms and Conditions:

[1]When transferring KrisFlyer Miles to Velocity, the conversion will be calculated at a rate of 1.55 KrisFlyer Miles to 1.00 Velocity Point.

 

[Scr77]

This can't be good can it?

Velocity
Singapore Airlines and Virgin Australia allow members of both KrisFlyer and Velocity Frequent Flyer to convert Miles and Points between both programmes.


Convert your KrisFlyer miles to Velocity Points and enjoy greater access to upgrades and reward seats across the domestic and international Virgin Australia network as well as non-flight redemption rewards in the Velocity Rewards Store.


Receive 1 Velocity Point for every 1.35 KrisFlyer miles converted before 1 January 2019. After 1 January 2019, you will receive 1 Velocity Point for every 1.55 KrisFlyer miles converted, and Velocity Points will be credited directly to your Velocity Frequent Flyer account from then. A minimum of 5,000 KrisFlyer miles is required for each conversion. Please note that all miles converted cannot be reversed.

Hmm....i presume that’s from the Singapore site. I transferred points from VA to SQ a few days ago and there was no mention of a change.

 

[kpc]

Sh.....t! How about Velocity to KrisFlyer?

 

[ozjuice]

I'll be transferring most of my VFF points by Xmas I think. Seems my best option for flights.

 

[ozjuice]

Sh.....t! How about Velocity to KrisFlyer?

Change in KrisFlyer miles and Velocity points conversion rate

As part of a regular review of our programme, there will be a change in the conversion rate between KrisFlyer miles and Velocity Points from 1 January 2019. You will receive 1 Velocity Point for every 1.55 KrisFlyer miles converted, and vice versa.

 

[SYD]

Poo. I have a stash of VFF miles to burn and was thinking via SQ was the way to go. But never liked SQs points expiry policy.

Just received the KrisFlyer email as well.
Other ways to redeem miles

 

[coolkid101]

Ha. Beat me to it. I was just deciding whether to post in the vff or sq group.

This really changes things especially for easy vff points collecting in australia to convert to kf miles.

I was going to cancel my St george card but with these changes its probably the highest earning kf card without a cap going forward.

More importantly as long as velocity don't change their award charts I'll be happy to just use vff for sq redemptions rather than convert. It was always pretty close with the conversion in terms of value. Makes it easy going forward now

 

[Mattg]

This is a real blow to the Velocity program. (Not so much KrisFlyer.)

Currently I earn Velocity points with the intention of eventually transferring them to KrisFlyer and redeeming for awards which are really good value via KrisFlyer (e.g. AMS-DXB in TK J). This changes the equation quite a bit.

 

[travelislife]

Wow, massive change.

 

[theblank]

More importantly as long as velocity don't change their award charts I'll be happy to just use vff for sq redemptions rather than convert.

the award charts from Velocity for SQ flights is based on 1.35:1 which is the same as the current conversion rate. I think you can bet the awards charts will also change.

 

[MrPlow]

Just received the same email from Krisflyer. Based on my rough calculations its about a 10% devaluation on transfers. You win some you lose some. As coolkid mentioned i'll probably just be redeeming through VFF now and only transferring points where VFF has no availability

 

[jazza1971]

More importantly as long as velocity don't change their award charts I'll be happy to just use vff for sq redemptions rather than convert. It was always pretty close with the conversion in terms of value. Makes it easy going forward now

You can bet that'll be the next enhancement, an increase in SQ VFF redemptions.

 

[Lemon_Party]

Disappointing. Have to decide whether to transfer to SQ speculatively or gamble on redemption prices staying same level at VA and having availability. Probs a transfer...

 

[Spizz]

If transferring to SQ you have 3 years to use your points before they expire.

 

[deluxeflyer]

Cr@p.
Mighty glad I am that I didn’t take up the Velocity 40% transfer offer a few months ago.

 

[cove]

I don’t plan to switch either way. I try to create points and then use them for the best redemption.

 

[ozjuice]

The main issue for me is it's easier to collect VFF points but then much easier to redeem flights with KF.

 

[Cryptarcadian]

the award charts from Velocity for SQ flights is based on 1.35:1 which is the same as the current conversion rate. I think you can bet the awards charts will also change.

I hope that's not the case... since the same points table is shared by "Air New Zealand (domestic services), Capital Airlines, South African Airlines, Etihad Airways, Hainan Airlines, Hong Kong Airlines, Singapore Airlines, SilkAir and Hawaiian Airlines". They'd need to either split SQ off into a third table, or devalue the whole lot -- and I can't see how they would justify the latter.