Is it Time to transfer/withdraw points from Velocity?

[Bibendum]

Hi All,

I need some advice from the brains trust on this forum.

I, like many on here, have hundreds of thousands of points sitting with velocity. With the current COVID-19 situation and virgins financial position I’m concerned that if the airline was declare bankruptcy points may disappear..

What’s the likelihood of this happening and should I withdraw my points by purchasing gift cards to get some cash value at what I have..?

am I making a mountain out of a mole hill.. or is there a real threat to my velocity points been wiped out..?

 

[knagelli]

Oh well
Made my order 11 days ago for gift cards

Sincerely hope i get them.
It looks like I made the right call for once, hopefully they still get honoured

Im with you on this as I made the order around same time as you. Im just losing hope

 

[SOPOOR]

Im with you on this as I made the order around same time as you. Im just losing hope

There hasnt been any except one if i recall of cancellations, so don't lose hope quite yet.
I think we are in the faster 50%,
I'd be super worried if it was last 24 hours.
Hopefully the suppliers just keep on sending and hopefully they have a system where they get paid from virgin fast

 

[aznspike]

If anyone cares for reference... I ordered an iTunes GC on the 5th and its been marked as complete (possibly changed today)

Got another on ordered on the 9th so will see if by the end of the week it still goes through or not...

 

[kyle]

Just went to work, where I'd sent all my orders. First one arrived today from the 7th. That was already marked shipped. Poppink

Have two others from the 7th and 9th. One from the 7th is still processing, saying half has shipped (Poppink and HN). The one from the 9th still pending from JB.

What did you order from Popink can I ask?

 

[Spacetravel]

This might be the wrong place to ask but, what are your plans with changing your frequent flyer point strategy? As I announced late last week I withdrew most my points (at the time) but I have 2 X Amex Velocity Frequent Flyer and a Virgin Money credit card all funnelling points at about 10-15k a month into my account. Since my withdrawal last week I already have another 15K just deposited into my account that I didn't get out. 2 of the cards have an annual fee coming up also.

Should I call and cancel and change to another program right away or am I being too hasty? I don't want endless points just pouring into a black hole and paying annual fees for a relatively useless card.

 

[swidmelbie]

Hi guys, I was wondering if I would be able to redeem Singapore Airlines flights with velocity. I know they have disabled transfers to the Krisflyer Program, but will I still be able to make a redemption with their partner airlines.

 

[PDog]

Our Weber Q arrived today (ordered 4/4). I’ll always feel disloyal using it :-( It’s probably worth what we stand to lose in travel bank / booked flights / vouchers, so that eases my conscience a little.

Madly hoping Virgin pull through as they’ve always treated us well.

 

[Scr77]

Hi guys, I was wondering if I would be able to redeem Singapore Airlines flights with velocity. I know they have disabled transfers to the Krisflyer Program, but will I still be able to make a redemption with their partner airlines.

You can try, but usually the consensus is that they won’t be honoured. Worth trying if you cant redeem for toasters.

 

[malmac]

This might be the wrong place to ask but, what are your plans with changing your frequent flyer point strategy? As I announced late last week I withdrew most my points (at the time) but I have 2 X Amex Velocity Frequent Flyer and a Virgin Money credit card all funnelling points at about 10-15k a month into my account. Since my withdrawal last week I already have another 15K just deposited into my account that I didn't get out. 2 of the cards have an annual fee coming up also.

Should I call and cancel and change to another program right away or am I being too hasty? I don't want endless points just pouring into a black hole and paying annual fees for a relatively useless card.

Hi Banana0692 I had a platinum card funnelling points also to Velocity and stopped using the card several weeks back and switched to another loyalty card I took out in December last year. Further I transferred my auto payment debits from Velocity card to the other card last Thursday. Fees aren’t due until the end of the year and if things don’t change I’ll wrap it up before it’s due. I also have an Amex card but no yearly fee and hardly use it but this will go as well.

 

[jakeseven7]

If anyone cares for reference... I ordered an iTunes GC on the 5th and its been marked as complete (possibly changed today)

Got another on ordered on the 9th so will see if by the end of the week it still goes through or not...

Thank you for the data point. Have GC orders prior to that but donut to show for it yet.

 

[tomlee1986]

I wonder how many iPads or iPhones were redeemed in the last 2 weeks alone? It would be interesting to see

 

[deebens]

What did you order from Popink can I ask?

Pair of sunglasses and a shaver/hairtrimmer. Got the sunglasses.

 

[k3nnis]

Pair of sunglasses and a shaver/hairtrimmer. Got the sunglasses.

The velocity store is timing out for me....

 

[L1925]

Might have to call amex. Pump about $100k a month through that with work and then use the virgin points for staff flight upgrades. No use now

 

[getluv]

keeping points may, just maybe a possibility that the velocity program will be kept separate as it is a separate business, entity, profitable at that to the possible VAdmin of Virgin.
If virgin fails & velocity continues in some format by 'other' owners, they'll want to keep the 10Million velocity customers & those customers will retain their points.

That's one point of view I've been hearing today.

As awful as this sounds, 10M Velocity points = 10 million grams of nothing. They are a liability. I'm sure Velocity itself will also go into Administration.

 

[aznspike]

Thank you for the data point. Have GC orders prior to that but donut to show for it yet.

I haven’t actually received the GC yet... Just noticed the order status changed...

Got 4 more GC ordered over the past two weeks when I was on the fence as to whether to cash out some or all of my points lol.

Burned the rest of my points today on a SONOS playbase after an hour of refreshing. Fingers crossed it will come through haha.

 

[jonboixxx]

As awful as this sounds, 10M Velocity points = 10 million grams of nothing. They are a liability. I'm sure Velocity itself will also go into Administration.

Shirley you can't be serious.

 

[SOPOOR]

Virgin Australia reportedly set for voluntary administration

Virgin Australia will reportedly go into voluntary administration after failing to find a way to keep the company afloat.

www.news.com.au

Looks like it's game over

I did like virgin, my limited experience with them was good

 

[jakeseven7]

I haven’t actually received the GC yet... Just noticed the order status changed...

Got 4 more GC ordered over the past two weeks when I was on the fence as to whether to cash out some or all of my points lol.

Burned the rest of my points today on a SONOS playbase after an hour of refreshing. Fingers crossed it will come through haha.

Sonos is amazing. Fingers crossed for you.

 

[Trin Trin]

The wine store is shut for business:

Unfortunately, we are currently unavailable to take any new orders as we work our way through an unprecedented number of existing orders and implement new working arrangements to further safeguard the health and safety of our teams. We are working towards having our website and telephone order lines open again very soon.

If you have an urgent question that doesn’t relate to placing or amending an order you can email our team at [email protected] . Please note we may take longer than usual to respond during this time.

Velocity Wine Store by Laithwaite's Team