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..?

 

[AIRwin]

SQ no longer (I think) part owns VA and VFF would have to pay cash to SQ for their points.

Velocity would have paid SQ for points transferred even when they were one of the shareholders of VA...

 

[AustraliaPoochie]

Will have to wait for Nov for the nitty gritty info to come out.
There still seems to be some small linkage between SQ and VA, I guess, to put people onto SQ flights from where SQ does not fly, small Aust towns/cities, to the capital city where SQ flies out of, to get to SIN/where the people want to go.
Certainly not QF planes/website, but still the SQ website still list the 4 digit SQ flight number, but VA metal onto 2021.

 

[HS-TQE]

Will have to wait for Nov for the nitty gritty info to come out.
There still seems to be some small linkage between SQ and VA, I guess, to put people onto SQ flights from where SQ does not fly, small Aust towns/cities, to the capital city where SQ flies out of, to get to SIN/where the people want to go.
Certainly not QF planes/website, but still the SQ website still list the 4 digit SQ flight number, but VA metal onto 2021.

SQ also has an long-standing interline agreement with QF.

Sure, no codeshare numbers, but the interline fills the gap where VA does not fly.

 

[ozstamps]

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

Hope so.

I have about 700,000 SQ from transferring my largely worthless Virgin points across when it was clear to me they were essentially doomed as a top line carrier, and would be Tiger#2, which sadly has now occurred.

SQ announced a range of extensions recently for points expiring in coming months, but of course were silent on 2020 transfers.

 

[RAM]

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 ?

Starting a Flybuys account is not a hard task & accepting the first offers are likely to earn 10,000 FB points for spending $40 to $50/week for 4 weeks. So he/she'll earn $50 worth of points for spending $160 or $200 - I like getting 25% discounts!

 

[Maccaj73]

I have cancelled my VA credit card for a QF CC, joined red energy, Kogan internet and no longer shopping with Flybuys for SC now everyday rewards for QF Points..I have totally changed all
my previous habits and earned 300k points since April and made sure they were all directed to QF. I don’t think Bain has given members any reassurance that business travellers will be looked after and haven’t provided any thanks to their loyalty and importance.

VA was already struggling to be a premium carrier without an alliance and very average Y class product. Now it’s 737 only plans with no long haul aircraft and looking to downgrade further forget it I’m not interested in wasting anymore money on them.

The product will only get worse and more limited. I will stick to a real airline with a real presence thanks.... Bye VA I enjoyed being Plat for the last 4 years but have now happily departed.If I want a cheap and average product will just book a JQ fare which earns QF SC and Points....

 

[Nathant123]

I have cancelled my VA credit card for a QF CC

I’m also considering doing the same. My VA Amex is of no use to me now but I wouldn’t get any sign up bonuses as I’m already with them. I’m wondering if it’s as simple as calling and changing the card to a QF one or if I have to close the whole account and start a new one. I’ll be keeping my Coles MC as it’s a nice earner of flybuys which worse case can be used for hotel or flights through flybuys travel.

 

[Muppet501st]

I have cancelled my VA credit card for a QF CC, joined red energy, Kogan internet and no longer shopping with Flybuys for SC now everyday rewards for QF Points..I have totally changed all
my previous habits and earned 300k points since April and made sure they were all directed to QF. I don’t think Bain has given members any reassurance that business travellers will be looked after and haven’t provided any thanks to their loyalty and importance.

VA was already struggling to be a premium carrier without an alliance and very average Y class product. Now it’s 737 only plans with no long haul aircraft and looking to downgrade further forget it I’m not interested in wasting anymore money on them.

The product will only get worse and more limited. I will stick to a real airline with a real presence thanks.... Bye VA I enjoyed being Plat for the last 4 years but have now happily departed.If I want a cheap and average product will just book a JQ fare which earns QF SC and Points....

Have also cancelled my VFF earning card , just before its renewal. Now just waiting on my new shiney QFF earning card to arrive, 100k points and 75 scs was a bonus.

Im also just about to successfully complete the QF SG challenge, so the next goals are for lifetime status.

just used the remaining VA FF points on 4 BNE-LST return flights.
Ill miss VA Yx

 

[eastwest101]

I’m also considering doing the same. My VA Amex is of no use to me now but I wouldn’t get any sign up bonuses as I’m already with them. I’m wondering if it’s as simple as calling and changing the card to a QF one or if I have to close the whole account and start a new one. I’ll be keeping my Coles MC as it’s a nice earner of flybuys which worse case can be used for hotel or flights through flybuys travel.

Its more of a hassle but a lot of posters say that its probably better off "churning" and cancelling the Velocity earning card and finding the best Bonus point offer QFF earning card, and applying for that, no point being loyal to credit card providers.

 

[QF_Flyer]

Its more of a hassle but a lot of posters say that its probably better off "churning" and cancelling the Velocity earning card and finding the best Bonus point offer QFF earning card, and applying for that, no point being loyal to credit card providers.

+1, don’t bother with product transferring, just canx and apply for a QFF card you can get a decent SUB from.

 

[AIRwin]

Significant new partnerships in 2021:

Ready for take-off: Virgin Australia Group soars out of administration, unveils future direction

• New Virgin Australia Group CEO, Jayne Hrdlicka, announces future direction • Targets mid-market • Lounges to re-open from today

newsroom.virginaustralia.com

 

[Scr77]

Significant new partnerships in 2021:

Ready for take-off: Virgin Australia Group soars out of administration, unveils future direction

• New Virgin Australia Group CEO, Jayne Hrdlicka, announces future direction • Targets mid-market • Lounges to re-open from today

newsroom.virginaustralia.com

Significant new partnerships, yet none announced. Looks like the food/snack will go, replaced by purchase on board.

 

[RAM]

Significant new partnerships, yet none announced. Looks like the food/snack will go, replaced by purchase on board.

The bar has been set - now not to disappoint....

Disappointed that the word 'international' was not anywhere to be seen in the extensive media release & briefing.

Ok, it is day one but that is a major issue for many.

 

[SOPOOR]

Significant new partnerships, yet none announced. Looks like the food/snack will go, replaced by purchase on board.

Does it surprise anyone?

Has there be any changes to any airline/rewards program ever that has made it better for the consumer?
In my years of observation its always cut cut cut, reduce reduce reduce, dilute dilute dilute

 

[MooTime]

Beauty, thanks for sharing & I'm happy with the ann, really looking at it in a holistic view, it's much of muchness the same as previous.
Couple lounges gone, useless snack gone (who needs it on 2 hour flight), but all else rather remaining as is.
Price competitive a key.

The many sceptics, posting doom & gloom over Virgin 2.0 gone, velocity gone, sold & points requirements increased, ah some just love bad news & will continue to hope for it.

Like management aim to hold a third of domestic traffic.

I got a heap of points that will be hard to get thru on domestic only travel, but will transfer 100k flybuys for the 50 status credits based on this 'out of Vol Admin' news.

Go Virgin, keep the fun airline going & all the great employees employed.

International links in progress, how could anyone lock in that now with world travel in state is in.

 

[Bagpuss]

Significant new partnerships, yet none announced. Looks like the food/snack will go, replaced by purchase on board.

Food service would be retained for business.

Remember that the initial Virgin Australia rebranding was buy on board.

With the complaints about the complimentery service, it's not a big deal. Only issue is probably on the 3+ hour flights, but sooner pay for something more decent.

 

[andye]

Does it surprise anyone?

Has there be any changes to any airline/rewards program ever that has made it better for the consumer?
In my years of observation its always cut cut cut, reduce reduce reduce, dilute dilute dilute

Generally yes but I'd argue that the quality of international J has improved beyond recognition over the last 20 years so the value of the prize is higher (admittedly prices have become relatively cheaper too).
Redemption rates don't change every year so eventually there has to be a devaluation to account for inflation
The ability to accrue points from credit cards also makes achieving awards easier for those lucky enough to be able to do so.
In terms of genuine enhancements, the introduction of the BA reward flight saver was pretty good. QF have reduced their carrier charges of late. The ability to redeem on EK has also been positive for many
Back to the VFF programme, it obviously got a huge amount better when they transitioned to the full service model. Remains to be seen how much worse it will get-ability to redeem on SQ is a biggie for me

 

[Mr H]

Has there be any changes to any airline/rewards program ever that has made it better for the consumer?

Absolutely there have. I was a member of the BD program. They joined Star Alliance and our points balances suddenly had real value. And then after awhile they introduced an opportunity to redeem for half the points, topped up with very modest amounts of cash.

In Australia, the introduction of points transfers between VA and SQ was a significant enhancement - even if the exchange rate was subsequently reduced.

Partner airlines have been added to many programs.

SQ has given access to pax with F redemptions to The Private Room which was not originally available.

 

[SOPOOR]

Generally yes but I'd argue that the quality of international J has improved beyond recognition over the last 20 years so the value of the prize is higher (admittedly prices have become relatively cheaper too).
Redemption rates don't change every year so eventually there has to be a devaluation to account for inflation
The ability to accrue points from credit cards also makes achieving awards easier for those lucky enough to be able to do so.
In terms of genuine enhancements, the introduction of the BA reward flight saver was pretty good. QF have reduced their carrier charges of late. The ability to redeem on EK has also been positive for many
Back to the VFF programme, it obviously got a huge amount better when they transitioned to the full service model. Remains to be seen how much worse it will get-ability to redeem on SQ is a biggie for me

I havent been observing for 20 years but yes I assume with technological advances etc, the quality overall improves, however it really irks me when these airlines start removing services/perks/features in the intention of cost cutting

 

[AustraliaPoochie]

Big presumption:
Can anyone forsee/be "surprised" if/when VA2/VA3 announce they are going to join ST?
If *A alliance, as a lot on here say, is now off the books/out of the question.
The blurb somewhere did mention something of a large dom/int alliance.
No news on the no1 lounge reopening.