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..?

 

[jonboixxx]

More GC, today, seemed to be from 14 April by the card mix. Seems like Velocity is honouring their commitment and getting on top of orders.

 

[jonboixxx]

Took a while to decide on what to get, so ended up ordering on 17/04.

Points have been taken from my account. No gift card just yet. Sadder is that I was waiting on Virgin to fix up 20k of points from my girlfriend looks like they're gone for good.

I had orders from 4 April until stoppage. It appears they are up to 14 April orders as I received more GC today. Good luck with the 20k points. I'm mostly concerned about the value of the points I didn't have a chance to get out.

 

[SOPOOR]

hey folks, can anyone tell me how many points the jbhifi $250 card required?
just comparing how much of a loss it was by redeeming for the $100

 

[Melburnian1]

..
Would have thought it would all come at the same time being Post received it together.Must be on 3 different trucks across the Nullabor.

Pleasing you are receiving some.

Sometimes it can be on trains across the Nullabor.

Far more freight goes to Perth on Pacific National or SCT freight trains than by road. Trains may be up to 90 wagons or so long I think, and some have double stacked containers from Adelaide, or Parkes NSW, as clearances sufficient to allow two boxes not just one. Cheaper, and more environmentally friendly, and no slower. The freight train drivers do a terrific job.

Don't give up: my limited experience (small sample) is that these redemptions will arrive.

 

[theblank]

BTW, what is everyone doing with their velocity branded credit card ?

I have the NAB Velocity visa. I continue to use it for about 1/3 of my monthly spend, because its a good earner at .66 ppd, and all other NAB credit cards are rubbish IMO I will wait and see what comes out in the wash. I lose nothing by waiting and gain nothing by jumping ship.

If the provider needs to cancel the Velocity points card, they will make us an offer, that will be equal to or better than what we could organise ourselves

What are your suggestions ?

wait.

 

[bigbadbyrnes]

I have the NAB Velocity visa. I continue to use it for about 1/3 of my monthly spend, because its a good earner at .66 ppd, and all other NAB credit cards are rubbish IMO I will wait and see what comes out in the wash. I lose nothing by waiting and gain nothing by jumping ship.

If the provider needs to cancel the Velocity points card, they will make us an offer, that will be equal to or better than what we could organise ourselves

I was lucky enough to get my points out to SQ before it got real bad, so I'm now looking at just binning my WBC black velocity Mastercard, and replacing my platium velocity amex with one linked to SQ. I rang and asked them about this, and the process I must follow is cancel the old one, apply for a new one - no transfer of product is possible.

 

[jakeseven7]

I was lucky enough to get my points out to SQ before it got real bad, so I'm now looking at just binning my WBC black velocity Mastercard, and replacing my platium velocity amex with one linked to SQ. I rang and asked them about this, and the process I must follow is cancel the old one, apply for a new one - no transfer of product is possible.

Trusty Westpac customer service in action (NIL). Why on earth wouldn't they just move you to a card that is worth staying on?

 

[kevrosmith]

I've got the Velocity Plat Amex, my renewal is in a couple of days. I wish they'd reduce the fee for this year but I'll be keeping the card. Can still earn points and I'll use the free flight sometime next year.

You should have a look in this thread: Virgin Australia enter Voluntary Administration - Impact on Amex cards?

Apparently annual fees are being deferred to November for cards with renewal dates between May and August.

 

[knagelli]

I received the gift cards today which were ordered on 8th/9th Apr. Appreciate that velocity is not shying away from it's commitments.

 

[BNEFlyer]

You should have a look in this thread: Virgin Australia enter Voluntary Administration - Impact on Amex cards?

Apparently annual fees are being deferred to November for cards with renewal dates between May and August.

Yep, just got an email from them.

 

[jonboixxx]

hey folks, can anyone tell me how many points the jbhifi $250 card required?
just comparing how much of a loss it was by redeeming for the $100

Not sure, but $50 was 9,900 and $100 was 19,499, so I imagine the loss wasn't considerable, given the circumstances. Far greater loss for my locked points, methinks.

 

[jonboixxx]

Trusty Westpac customer service in action (NIL). Why on earth wouldn't they just move you to a card that is worth staying on?

I can answer that. Gail Kelly was the worst CEO ever, such that I took $MM's of loans from them and placed them with NAB. I kept a couple of small facilities with WBC and their service has not improved under Hartzer. Now they are in a world of hurt for their dodgy practices, including jacking up my loan margins without full disclosure.

 

[HappyFlyerFamily]

Update: strangely since receiving the email from PopInk that my item was delayed and out of stock until mid May, the item arrives today.

ordered on last day that rewards store was open, 20/4 I think

 

[MARTINE]

Hi again
having had nothing delivered since 28/4/20 - today my two dyson vacuum cleaners arrived (all up 12 items ordered 13/4/) ...no tracking from PO no paperwork in the parcels...did not know what they were until open...off to do some cleaning! As I have said in prior posts - I expect nothing and anything is a bonus!

 

[neljelpoo]

Got 2 JBHIFI gift cards on Wednesday (6/5) in 2 envelopes. Assuming they're from my one a day orders on 11/4 and 12/4. Still waiting for 8 more gift cards! They were dated from 2/5 (Saturday) and 3/5 (Sunday).

 

[rndycnm]

Received my iPad ordered on the morning of 17/04. Still waiting for the GC.

 

[tomlee1986]

Received my iPad ordered on the morning of 17/04. Still waiting for the GC.

Hope you get your GC soon too.. I got an iPad too

 

[Lomandriel]

Well i got our velocity wine order which was mid April circa 15/16th April arrive yesterday. Interesting that the tracker is useless until the day it onboarded in our local city (mothers day), and that morning it was at my parents. Didn't even expect a delivery on a Sunday.

have'nt got a single gift card yet which we started ordering a day or so before velocity wine store and continued one a day until the store shut. I'm at least happy to get our 6 pack of wine and gins, better than nothing at least.

Has anyone received any items from Harvey norman that they ordered mid April say circa 15th April? The mrs used her points to redeem for the nespresso machine and a mixer, and still nothing. Getting worried as we sent the delivery address to our house (rather than wines to parents) and at this rate we'll be going back to the office in coming weeks , so it may get left outside.

Hope it comes soon! Otherwise i presume it's way too hard to change delivery address.

 

[Dee#]

Finally got all my wine from 7 and 10 April in WA. Did not all appear at the same time.
Last lot I received 2 boxes Friday and then this .am a text message 3 were at the PO today and the tracking history has finally updated today!! My partner is still waiting for 1 box on his order. Seems to be Aust Post problem.

 

[SOPOOR]

Finally got all my wine from 7 and 10 April in WA. Did not all appear at the same time.
Last lot I received 2 boxes Friday and then this .am a text message 3 were at the PO today and the tracking history has finally updated today!! My partner is still waiting for 1 box on his order. Seems to be Aust Post problem.

Wow, I ordered similar and got mine 2 weeks ago.
Maybe cos you guys are in wa