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..?
I'm indeed expecting a devaluation of all FF programs. My bet is that even in any environment where Velocity survives at all, and flight redemptions are possible, it'd still be possible to get more than 0.5 cents per point value out (even domestic, if redemption rates doubled). Obviously if it doesn't survive then all is lost, that risk is no secret!
If that were the case (0.5cent value) yu might as well cash out on gift cards then wouldn't you? The devaluation means you'd get as much value out of buying gift cards and wine that you can cash out all your points and simply just buy your own business class out of cash, and not worry about timing, or future loss of points/the program. Unless of course you value the cost of points as much less than outright buying business...
I got an email yesterday for my 16/04 wine order - it was on its way with Aus post. A tracking number was provided - yay! i had one or two gift cards before this date (1 a day) and some after, so i'm hopeful gift cards form the 14-20th period are on their way.
I'm glad now that I put that wine order in, as the last gift card to use my points up came that arvo before they shut and went into administration. Had i not thrown my points at some gin and a small 6 pack wine i wouldn't have got out in time all my points. I really dislike the whole "$200m loan to virgin" like how on earth is this in trust if you loan it back to virgin? Definitely the nail in the coffin for me in terms of risk/reward probability.
I do hope it works out for those that stay the course. Especially since we all played by the legal, allowable rules to get our points, even spending time and money on these.
Be keen to hear how others got their recent wine orders? Do they ring the bell? I've noticed aus post and the wine store telephone lady mentioning they no longer take signatures, due to covid. Perhaps why gift cards aren't getting delivered in anything but ordinary mail - as they can't take your signature anyway, so why pay for it?
Today pet circle courier dropped the box outside front door. No knock even to let us know it was here.. lucky the dog was going crazy and alerted me to open the door as he was about to reverse out. Makes me concerned with all the packages going out these days, how many of it would just sit outside front doors. Lucky our street is abit more sheltered with passers by, but you never know when a bad egg will happen to come across. That and wine ordres shouldn't sit out in the sun anyway.
Really wish i had a massive postbox with a built in chute for a package though (i.e. wine box size). I wonder what the recourse are if suppliers have sent something but it's been picked up by someone outside your front door before you can get to it. I assume it's tough luck.
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Just a question though - for those that got the 'tracking number' your parcel is on its way from aus post email (for wine orders) - did yours have any info when you clicked through tracking? Mine shows it's on its way from yesterday, but unlike normal tracking it doesn't disclose where it is e.g. picked up at NSW xx_x facility. I presume it hasn't begun its journey yet and just has a tracking number? Or is it normal to have no origin or in transit facility details listed these days?
We had our wine sent to our PO Box address as we knew it would come Oz Post. Will have to get there quick when it arrives as its a Small local post office-and-lots of wine.
Last couple of other general parcels by courier to our home address...No1. thrown over the fence (gate not locked) No2. left outside the gate on the footpath for anyone to pick up. Our neighbours found it. Same couriers that the wine would have come with to WA apparently.
While we've got lots and lots and lots of wine coming hicc...hicc (will have a great cellar in the undercroft garage for years), I still had 140,000 points left. Was contemplating a webber electric bbq but not quick enough.
Half of my wine order, placed 11 April arrived today in Brisbane. My friendly courier says the rest will be delivered tomorrow. And like the GC's last week, no paperwork.
Half of my wine order, placed 11 April arrived today in Brisbane. My friendly courier says the rest will be delivered tomorrow. And like the GC's last week, no paperwork.
If that were the case (0.5cent value) yu might as well cash out on gift cards then wouldn't you? The devaluation means you'd get as much value out of buying gift cards and wine that you can cash out all your points and simply just buy your own business class out of cash, and not worry about timing, or future loss of points/the program. Unless of course you value the cost of points as much less than outright buying business...
I wrote about what I'm doing earlier in this thread. We are keeping a few million velocity Points rather than joining in the rush to cash out (made the decision even before KrisFlyer transfers closed).
If virgin mkII emerges then hoping to still get decent value out of redemption. If I get paid out then I don't mind getting something at least. Not really interested in the gift cards or the electronics.. I figure if I get at least 0.4cpp cash I'll be satisfied. Even if there's a 50% increase in cost of future flight redemptions, the value there is still significantly more than anything I could have gotten from the store
I wrote about what I'm doing earlier in this thread. We are keeping a few million velocity Points rather than joining in the rush to cash out (made the decision even before KrisFlyer transfers closed).
If virgin mkII emerges then hoping to still get decent value out of redemption. If I get paid out then I don't mind getting something at least. Not really interested in the gift cards or the electronics.. I figure if I get at least 0.4cpp cash I'll be satisfied. Even if there's a 50% increase in cost of future flight redemptions, the value there is still significantly more than anything I could have gotten from the store
I can't emphasise enough that gift cards are not cash. They carry unique numbers which the distributor (who Collinson outsources to) keeps a record of against each order - this allows them to be suspended/cancelled/replaced when required.
Non-delivery (whether lost or stolen) is very, very low, and stolen cards being redeemed is even lower, so it's more cost effective to just absorb the cost of replacement than to pay for trackable delivery on every order.
The team who do card fulfilment for Collinson have a huge backlog of orders and that's the only cause for delay at the moment. Everyone will get their cards.
I can't emphasise enough that gift cards are not cash. They carry unique numbers which the distributor (who Collinson outsources to) keeps a record of against each order - this allows them to be suspended/cancelled/replaced when required.
Non-delivery (whether lost or stolen) is very, very low, and stolen cards being redeemed is even lower, so it's more cost effective to just absorb the cost of replacement than to pay for trackable delivery on every order.
The team who do card fulfilment for Collinson have a huge backlog of orders and that's the only cause for delay at the moment. Everyone will get their cards.
I believe that is what several posters have already said but thank you we agree with you
There is alot of mailbox theft up in in QLD they are very good at feeling cards in post, opening it, seeing its a GC and belting down to JB to use it. They would never be caught. As long as Collinson replace the card, I don't really care if it gets stolen!
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If that were the case (0.5cent value) yu might as well cash out on gift cards then wouldn't you? The devaluation means you'd get as much value out of buying gift cards and wine that you can cash out all your points and simply just buy your own business class out of cash, and not worry about timing, or future loss of points/the program. Unless of course you value the cost of points as much less than outright buying business...
I got an email yesterday for my 16/04 wine order - it was on its way with Aus post. A tracking number was provided - yay! i had one or two gift cards before this date (1 a day) and some after, so i'm hopeful gift cards form the 14-20th period are on their way.
I'm glad now that I put that wine order in, as the last gift card to use my points up came that arvo before they shut and went into administration. Had i not thrown my points at some gin and a small 6 pack wine i wouldn't have got out in time all my points. I really dislike the whole "$200m loan to virgin" like how on earth is this in trust if you loan it back to virgin? Definitely the nail in the coffin for me in terms of risk/reward probability.
I do hope it works out for those that stay the course. Especially since we all played by the legal, allowable rules to get our points, even spending time and money on these.
Be keen to hear how others got their recent wine orders? Do they ring the bell? I've noticed aus post and the wine store telephone lady mentioning they no longer take signatures, due to covid. Perhaps why gift cards aren't getting delivered in anything but ordinary mail - as they can't take your signature anyway, so why pay for it?
Today pet circle courier dropped the box outside front door. No knock even to let us know it was here.. lucky the dog was going crazy and alerted me to open the door as he was about to reverse out. Makes me concerned with all the packages going out these days, how many of it would just sit outside front doors. Lucky our street is abit more sheltered with passers by, but you never know when a bad egg will happen to come across. That and wine ordres shouldn't sit out in the sun anyway.
Really wish i had a massive postbox with a built in chute for a package though (i.e. wine box size). I wonder what the recourse are if suppliers have sent something but it's been picked up by someone outside your front door before you can get to it. I assume it's tough luck.
Post automatically merged:
Just a question though - for those that got the 'tracking number' your parcel is on its way from aus post email (for wine orders) - did yours have any info when you clicked through tracking? Mine shows it's on its way from yesterday, but unlike normal tracking it doesn't disclose where it is e.g. picked up at NSW xx_x facility. I presume it hasn't begun its journey yet and just has a tracking number? Or is it normal to have no origin or in transit facility details listed these days?
Fortunately on first name basis with all my couriers. They visit more often than the postie these days. My Fastway guy would never leave anything outside Fort Knox and would be a bit hard to dump 11 cases over the front gate, so he rang the bell, I got the trolley out and wheeled them down the drive while he unpacked the van. All very civilised; he said the other 9 cases coming in tomorrow. I didn't really get much sense from the tracking emails; Ozpost sent a total of 8 emails with the same tracking number. I just trusted the process. As for the 100 or so GC's that I'm expecting, well maybe Ozpost will visit me again soon?!
Hi everyone . Here is my recent velocity redemption experience . Had half a million points so decided to cash in some fearing the stampede- 13/4 Easter Monday - ordered household goods/luggage and some other items -about 12. Thank God I printed the confirmation whilst in my account. NO confirmatory email/could not find my order in my account (other than points gone). Today two items arrived !! Ten to go. I really did not expect within the two weeks quoted . Ten to go!!
Im glad as well that I printed out my order before closing the Velocity rewards store page, as now its been closed down and you can no longer check the order number or anything. I received no conformation email when I ordered so I'm at the mercy of Virgin to honour their commitment, even though they took all my 252,000 points for an apple watch and a JB HIFI gift card. I ordered on 15th April, so technically 2 weeks has now pass. Fingers crossed something might arrive by weeks end.
Anyone order stuff on or around the 15th April and received it already?
Im glad as well that I printed out my order before closing the Velocity rewards store page, as now its been closed down and you can no longer check the order number or anything. I received no conformation email when I ordered so I'm at the mercy of Virgin to honour their commitment, even though they took all my 252,000 points for an apple watch and a JB HIFI gift card. I ordered on 15th April, so technically 2 weeks has now pass. Fingers crossed something might arrive by weeks end.
Anyone order stuff on or around the 15th April and received it already?
My first order was made on 11/4/20 and I made 9 orders, daily up until 19/4/20. I am still waiting for them all to arrive. Theoretically 18 days from the first order or 13 business days since. Keeping my hopes up!
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