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..?

 

[trippin_the_rift]

Hmm? I mean at this points its all speculation on what's going to happen to those points no?

That's why I'm asking what is others doing or are people just start to empty their VFF points altogether?

Read back through this thread you'll see members talking about dumping Velocity points months ago.
The ship has sailed my friend. At this point, if you can redeem for ANYTHING OF VALUE, I'd take it.

 

[adampenrith]

Friend wants to keep their remaining VA2 points alive as didn’t get them out to SQ in time. Doesn’t do flybuys and obviously won’t be taking out a velocity CC.

Like Red Planet for QF is there a really easy way for them to earn like 1 point doing a survey or something ?

pretty sure that velocity points need some activity every 18 months, so once a year go via the Velocity shopping portal and purchase something, it could be menulog, or a flower delivery, the 50 points or so will keep your account alive.

 

[bernardblack]

Just keep in mind it actually takes a month or so for most merchants, to get the points from Velocity eStore. So if you're going to expire imminently, you need something quicker than that.

 

[andye]

Since SQ transfers went, the only instant method of earning I'm aware of is a Flybuys transfer. Redeeming also quick. Next quickest is taking a flight.

I assume that connecting your Flybuys to Velocity will keep the account live as long as you spend $100 in Coles, one month in every 18 months so earning Status Credits [Edit: sorry not true]

 

[SydneySwan]

I assume that connecting your Flybuys to Velocity will keep the account live as long as you spend $100 in Coles, one month in every 18 months so earning Status Credits

So are you suggesting that you need to earn either points OR status credits every 18 months to keep the points alive? I understood that only points counted. I don't know if I am right though.

 

[andye]

So are you suggesting that you need to earn either points OR status credits every 18 months to keep the points alive? I understood that only points counted. I don't know if I am right though.

I'm not sure if its activity or points either. Time to dust off the T&Cs

Edit: you are right.
SCs (or family pooling or transfers) don't count
And its 24 months

 

[MARTINE]

At least there is now some product to burn the points on their site (which for months was nada). I have always seen points as Monopoly money - they are free (in the sense that I would have booked and paid for that flight/hotel/massive AMEX purchase etc etc anyway). I redeemed half a million in April before DDay and got plenty of useful items. Yes I know the argument about return value per point but it’s just good and better in my opinion. Yes - I’ve got lots of free flights / upgrades over the years but even if future travel is going to be expensive - when I can I’ll pay whatever to travel again.
Personally I doubt future flights especially J will be full of FFredemptees given need to make $$$$ (imho).... Don’t think Virgin will ever be Virgin again - so go on a shopping spree or donate purchases to someone in need or ????.

 

[Mr H]

Just to offer a different perspective... I dumped all my 120k Velocity points into SQ way back when. I have since accumulated 50,000 Velocity points by buying wine at the Velocity Wine Store (I might as well, right?). My balances are:

80k SQ
50k VA
92k Flybuys
150k ANZ Rewards points. (= 50k SQ or 75k VA)

I want to redeem for premium cabin international travel. I can't do that right now because of Covid, and because VA doesn't offer international redemptions.

I do not want giftcards, electronic cough or money off my groceries. Those things don't bring me any joy.

So I will keep my balances where they are until/unless redemptions become available and personal circumstances let me avail. If I lose my balances, I will be sad at losing flights, not gift cards.

Incidentally, of all my balances, I am most worried about my SQ points because I am not confident that I will be in a position to use them before they expire. Right now, I am not seeing how/when this Covid thing can ever end.

 

[Major]

I placed an order for wine on Friday using VA points and now have 324 points left in my Velocity A/c.
I doubt I will fly VA again and have used points to book accommodation, purchase restaurant vouchers and managed to transfer 200K to SQ some months ago.

My flybuy points have been turned into dollars to use against shopping.

I'm not too worried about my SQ points as I think they will extend the expiry date.

 

[edman]

The store seems to be adding more stuff almost every day the last 3-4 business days. Macbooks, Apple Mini, Apple Watch 6 and Iphone 12s and a bunch of TVs.

 

[henrus]

Is anyone else experiencing a very long wait time for a points refund? I phoned to cancel two long haul partner award bookings about 40 days ago and one was refunded within about two weeks but the other is still yet to come back.

I've since emailed a few times with no luck and don't seem to be getting anywhere other than it's coming soon.

 

[QF_Flyer]

Is anyone else experiencing a very long wait time for a points refund? I phoned to cancel two long haul partner award bookings about 40 days ago and one was refunded within about two weeks but the other is still yet to come back.

I've since emailed a few times with no luck and don't seem to be getting anywhere other than it's coming soon.

I emailed them about a partner reward (SQ) which had been cancelled last Tuesday evening I think it was, points were back in my account 08:15 the next morning! I was very surprised.

 

[henrus]

I emailed them about a partner reward (SQ) which had been cancelled last Tuesday evening I think it was, points were back in my account 08:15 the next morning! I was very surprised.

Was it a 100% points booking (where you used the points to pay the taxes) or did you use a credit card to pay for the taxes?

The 100% points bookings come back really quickly but it's the bookings with credit card taxes attached that seem to be taking a while.

 

[edman]

My booking with credit card payment for taxes was very straight forward, was a couple of months ago though

 

[Brissy1]

Is anyone else experiencing a very long wait time for a points refund? I phoned to cancel two long haul partner award bookings about 40 days ago and one was refunded within about two weeks but the other is still yet to come back.

I've since emailed a few times with no luck and don't seem to be getting anywhere other than it's coming soon.

Your comment nudged me to check on my cancelled domestic virgin flights just now.
I cancelled, by ph, on 21Oct; "my activity" on my velocity a/c shows points re-credited on 21Oct

 

[AustraliaPoochie]

So are you suggesting that you need to earn either points OR status credits every 18 months to keep the points alive? I understood that only points counted. I don't know if I am right though.

If you are interested in keeping your VFF alive, till the absolute end...
((You need to earn VFF points, by fling, or by transfer from a bank rewards card, or from FB)), to keep the VFF account alive... and to get the 2000 FB points, spend $120/$150 during their very, very special offers, when they give you 2000 FB points for spending $120/$150 or what so over amount of money they choose, this will give you 2000 FB points, which will equate to 850 VFF points, or 1005 if they offer their 15% VFF transfer from other rewards systems to VFF bonus.
Spending $100 in itself, will give you the VFF SC, but not the points.
Sometimes they have you can earn I think, 5000 FB points, if you spent $150 per week for 4 weeks.
The SC will help in retaining status, till we get a change in the whole "kit and kaboodle", which will probably be Nov.
If and when you do earn 2000 FB points, and transfer those to VFF to get 850 or 1005 VFF points, those will keep your VFF account alive for the next 23.5/24 months, or until Bain decides to close the system.

 

[QF_Flyer]

Was it a 100% points booking (where you used the points to pay the taxes) or did you use a credit card to pay for the taxes?

The 100% points bookings come back really quickly but it's the bookings with credit card taxes attached that seem to be taking a while.

It was 100% points, so maybe that explains it (normally wouldn't, but I was looking to burn up as many VA points as possible at the time!).

 

[AustraliaPoochie]

I want to redeem for premium cabin international travel. I can't do that right now because of Covid, and because VA doesn't offer international redemptions.

We have to wait till Nov to see what Bain's plans are for VA and for VFF, realistically speaking.
All we can do right now is speculate, and Bain at this stage, are not doing much, maybe they are biding their time, who knows, but they are not saying anything concrete.
Oh, we will keep VFF they say, and will look at lounges later, lah, lah, lah.
We hope they will not change anything come Nov, but to save them money, I guess all they will do is probably tighten the transfer rate of points, or take it away, maybe take away the transfer of points ability to SQ's KF & from Coles FB.
PS has decided he will jump ship, and JH is coming in, that might be saying a lot, covertly.
What we know and got to love about VFF, might be drastically changed, or changed to skew it towards Bain's gain by making it that we need much more points to get award seats on partners.
And this is just financials, not related to Covid, as you say, if it will ever go away.

 

[ceetee]

Don't be so sure if Dan Andrews remains at the helm..

I've lost complete confidence in Virgin ever returning with decent international

Hi Nathan123, I am in the same position, Velocity Plat status matched to Qatar. I plan to switch to Qantas but not sure if I should book ticket under Qatar number to get benefits or Qantas number to get points.

 

[Mr H]

I guess all they will do is probably tighten the transfer rate of points, or take it away, maybe take away the transfer of points ability to SQ's KF & from Coles FB.

I would guess we won't see transfers to SQ again. SQ no longer (I think) part owns VA and VFF would have to pay cash to SQ for their points. On the other hand, the Flybuys partnership can continue as long as Flybuys wants - Flybuys pays cash to VFF for the points and redemption flights on VA metal cost the airline almost nothing.