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..?

 

[nathrek]

Really hoping that the VFF / Krisflyer conversion comes back eventually. I managed to get all my points over to Krisflyer at the start of the year and have directed all my credit cards there. Refund on VFF points for a cancelled flight to the states this year means I have 75k points sitting in VFF. If the Krisflyer conversion doesn't come back I guess I'll have to burn them on domestic flights.

 

[jakeseven7]

Really hoping that the VFF / Krisflyer conversion comes back eventually. I managed to get all my points over to Krisflyer at the start of the year and have directed all my credit cards there. Refund on VFF points for a cancelled flight to the states this year means I have 75k points sitting in VFF. If the Krisflyer conversion doesn't come back I guess I'll have to burn them on domestic flights.

Lots are hoping for the SQ escape hatch to come back don't worry..... but I'm not sure it will

 

[tomlee1986]

Really hoping that the VFF / Krisflyer conversion comes back eventually. I managed to get all my points over to Krisflyer at the start of the year and have directed all my credit cards there. Refund on VFF points for a cancelled flight to the states this year means I have 75k points sitting in VFF. If the Krisflyer conversion doesn't come back I guess I'll have to burn them on domestic flights.

I doubt it will happen but I hope for your sake it will return

 

[Nathant123]

I don't really care if it doesn't return but I hope that VA do keep some form of alliance with other airlines so that points and benefits can be used with more than just VA.

 

[AustraliaPoochie]

Looking at flights from WLG to MEL to ADL, in 2021 there is still, on the SQ website, a linkage between SQ and VA.
Of course things can change, and probably will, we will know by Fri this week, to see what pans out, and guess go from there.

 

[Mattg]

Looks like Velocity has extended the period for free cancellations on Velocity Reward Seat bookings. Now covers bookings/changes/cancellations until 31 October (previously 31 August).

 

[jakeseven7]

Ugh boring.... open up the Velocity store please Bain!

 

[AustraliaPoochie]

Wait till tomorrow arvo first.
We need to know what will pan out in a few hours, ...

 

[piratematerial]

Shop is back!

Velocity Frequent Flyer Store

shop.velocityfrequentflyer.com

 

[Must...Fly!]

Shop is back!

Velocity Frequent Flyer Store

shop.velocityfrequentflyer.com

Good to know. Temptation is there to get gift cards, would have just enough to probably pick up a Playstation 5....obviously at a terrible redemption rate. It's just hard to see when even domestic travel will be possible again to burn through some points.

 

[Deleted member 26544]

Cashed out our few thousand remaining points for a gift card. I don’t see us using VA MkII even when domestic borders are open without restriction, the benefit to us was in international redemptions plus their lack of special meals in domestic J was disappointing.

 

[cove]

We kept our points so we have watched the Bain purchase with a lot of interest as we don’t need any more toasters.

 

[jakeseven7]

Shop is back!

Velocity Frequent Flyer Store

shop.velocityfrequentflyer.com

THANK YOU!

Have colleagues at work and family members who couldn’t bail their points before VA1 collapsed and have no real
Interest in VA2 anymore and have millions an millions of points to burn.

Word to the learned - redeem redeem before they slam restrictions or throttle it somehow again....

 

[AIRwin]

Ugh boring.... open up the Velocity store please Bain!

Bain has heard you...

 

[jakeseven7]

Bain has heard you...

Great!!! Next, Bain please refund me the money you owe me, ta.

 

[MAinSYD]

I have a 150K points sitting in my account. Should I bailout and spend it on gift cards?

I'm not sure what will happen next with VA2.

Decisions decisions..

 

[AustraliaPoochie]

Going a veer OT here, but its in regards to utilisation of VFF points...
Its like being between a rock and a hard place, MAinSYD.
Or like playing poker/chicken.
Bain have said they would keep VFF, (some on here see them as going to pump up the value of VA and then sell it off), who ever buys VA to get VA3, or sets up a new airline, would probably not have a FF system.
Hard to say indeed, as you summise, decisions decisions.
If your points date of expiry is a while off, maybe hold off and see what pans out in regards to VFF.
Or if you are really worried, do the gift card trade off, I think those cards last 3 years, a bit more time to decide.
I have only got about 23k in VFF, so if Bain ever pulls the plug, so be it.
Is the VA hotels section open yet, maybe get some points to stay at the newly set up Adelaide Oval hotel, it will open after Covid, so that hotel would not have been used as a quarantine facility, **I disagree** with this idea, whose ever idea it was to quarantine people at hotels was really a ***, add what you think I mean.
And the hotel cleaning system in regards to covid also does not leave me any more satisfied.
You most likely live interstate, so maybe have a look at any new hotels that will open after now, where there is no risk of you getting Covid from staying with that hotel.

 

[piratematerial]

I still have hundreds of thousands of the things that I’m still trying to work out what to do with. A lot of mine I transferred from Flybuys thinking 1c per point value would be 2c or 3c or 4c value for business international but can’t see that coming back for another year or so, and maybe never for VFF rewards. With the loss of the A330s business domestic doesn’t appeal either.

So... stuck with a run on wine, overpriced electronics, slightly less but still overpriced gift cards, or incredibly unappealing hotels (it’s open and seems to offer about 0.55-0.6c). To the wine & gift card store it is!

 

[Brissy1]

I still have hundreds of thousands of the things that I’m still trying to work out what to do with. A lot of mine I transferred from Flybuys thinking 1c per point value would be 2c or 3c or 4c value for business international but can’t see that coming back for another year or so, and maybe never for VFF rewards. With the loss of the A330s business domestic doesn’t appeal either.

So... stuck with a run on wine, overpriced electronics, slightly less but still overpriced gift cards, or incredibly unappealing hotels (it’s open and seems to offer about 0.55-0.6c). To the wine & gift card store it is!

Might be handy to keep a few points. I've found that even in high demand times (Fri pm, school hols) there are still, sometimes, reward seats available if you check "both" airlines. And B737 business might be disappointing at $rrp, but a good use of points at high demand $ times. Don't tell anyone.

 

[Mattg]

Don't think this has been mentioned already, but Velocity Wine Store redemptions are also available again.

Minimum order amount is 16,000 Velocity points, excluding delivery charges.

Velocity Wine Store by Laithwaites | Welcome to your favourite new wine store

Buy wine and earn Velocity Frequent Flyer points or get wine with your Velocity Frequent Flyer points, all your favourite wines and spirits in one online store.

www.velocitywinestore.com.au