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..?

 

[jakeseven7]

Pfft. Why would you want to leave the Democratic People's Republic of Westralia?

For some decent restaurants to start

 

[Must...Fly!]

For some decent restaurants to start

You got something against chicken treat?

 

[prozac]

So I need to close my Westpac Altitude account. Where do I park 500k points?

 

[Mattg]

So I need to close my Westpac Altitude account. Where do I park 500k points?

Do you have any more points with another bank?

If you transfer the equivalent of 250,000 KrisFlyer miles to SQ by 28 February 2022, you'll get KrisFlyer Gold status for a year See SQ offering status without flying

So, you could transfer your 500k Altitude points there now (worth 166k KrisFlyer at a 3:1 conversion rate), then another 83k later in the year/early next year to trigger the KrisFlyer Gold status.

Just a thought. The KrisFlyer miles are also good currency if you think you might want to redeem for international J/F awards down the track.

 

[prozac]

Do you have any more points with another bank?

If you transfer the equivalent of 250,000 KrisFlyer miles to SQ by 28 February 2022, you'll get KrisFlyer Gold status for a year See SQ offering status without flying

So, you could transfer your 500k Altitude points there now (worth 166k KrisFlyer at a 3:1 conversion rate), then another 83k later in the year/early next year to trigger the KrisFlyer Gold status.

Just a thought. The KrisFlyer miles are also good currency if you think you might want to redeem for international J/F awards down the track.

Thank Mattg. No points with another bank at this time but will be accumulating through the year when I get a new card elsewhere. I already transferred point last year to Cathay for a flight I can't use next month otherwise I might have had enough. lol.

I think that is good advice but I am very conscious about expiry dates too. What if we still cannot fly in 12 months time?

 

[Lemon_Party]

Krisflyer miles have 3 yr expiry - still a small risk but probably not crazy. Pre covid SQ usually had great award availability if you booked well in advance too.

 

[AustraliaPoochie]

At this point, and we are not sure if it would ever return, the transfer of VFF points to KF system, is not available, can't be done.
For Lemonparty, KF's miles life of 3 years, is good, if we didn't have Covid international restrictions to contend with, ie, no international travel, except with extenuating circumstances, ...
(OT) I did put about 3.5k miles from (Air)NZ flights to KF, in about Jun 2017, but they got extended, in my case to Jun 2021, but now that SQ have stopped flying MEL - WLG and vv, my those 3.5k KF miles will go back to them, or unless they extend KF miles life for more time, due to no international flights due to Covid.
For Prozac, I think that QFF might be the best option, if you move the points to them, as we don't know what will happen to VFF down the "runway".
QFF is no "saint", but at the least, they might have more chances of survival than VFF/VA.
Just had a chase around to find out, thought it was an option, but turns out not so.
Edit edit: from Executive Traveller,
It's not possible to convert Altitude Points into Qantas Points for personal Altitude credit card holders – Qantas Points can instead only be earned via that 'Altitude Qantas' path.
So this means, only VFF or gift cards, or getting hotel vouchers...
Or as you have put your question on here, if you want, you can park the points in VFF.
Gift cards also have a life of 3 years, I think.
Hotel vouchers might be an option, but a lot of hotels in Aust have been used as Covid quar(o)/medihotels, and some are not available for booking, or even if they are, the fact them being used as quar(o) locations, is not an ideal.
Yes, lots of people say after a deep clean, its ok to stay with hotels again.

 

[jakeseven7]

Krisflyer miles have 3 yr expiry - still a small risk but probably not crazy. Pre covid SQ usually had great award availability if you booked well in advance too.

I think that it’s pretty clear SQ will have to keep extending / remove their stupid expiry rule completely....

 

[antycbr]

I think that it’s pretty clear SQ will have to keep extending / remove their stupid expiry rule completely....

At least there is something useful for KrisFlyer points - you can theoretically use SQ points on NZ from tomorrow. Not the best value but an option.

 

[jinks485]

I noticed the other day that Virgin Australia domestic flights are currently bookable via KrisFlyer online, so you can use KF points right now. I was looking at Perth-Sydney which was 20k in economy and 40k in business class.

 

[Mattg]

I noticed the other day that Virgin Australia domestic flights are currently bookable via KrisFlyer online, so you can use KF points right now. I was looking at Perth-Sydney which was 20k in economy and 40k in business class.

Yes, they certainly are.

The best value is routes like ADL-SYD-CNS or HBA-BNE-TSV which cost only 11k miles in Economy or 21k in Business. Plus, if you book a return trip you should be able to add a free stopover in one direction (although you might need to call SQ to book that).

 

[prozac]

...
Yes, lots of people say after a deep clean, its ok to stay with hotels again.

I'll stay after you confirm you had no issues.

 

[RAM]

I think that it’s pretty clear SQ will have to keep extending / remove their stupid expiry rule completely....

I wonder if SIA has allowed anyone to 'pay' to extend their points expiry since March last year?

I know they keep extending the expiry but it would be interesting to know how 'ethical' they've been with less-on-the-ball Krisflyer members?

Without any 1st class cabins on A380s available for booking - long may they keep (fee-free) extending!

 

[lovetravellingoz]

I noticed the other day that Virgin Australia domestic flights are currently bookable via KrisFlyer online, so you can use KF points right now. I was looking at Perth-Sydney which was 20k in economy and 40k in business class.

Yes they do. When first added there were no fees charged and that made some longer redemptions within Austrlaia quite good value. ie MLB-CNS which I did a few times.

Unfortunately there are fees now,

 

[Scr77]

If only you could redeem to Christmas Island.

 

[AustraliaPoochie]

Yes they do. When first added there were no fees charged and that made some longer redemptions within Austrlaia quite good value. ie MLB-CNS which I did a few times.

Unfortunately there are fees now,

Its MEL, not MLB, MLB is in the US.

 

[SYD]

Its MEL, not MLB, MLB is in the US.

That would have been an excellent redemption without fees!

Alas, I now have a “Book of Mormon“ song stuck in my head now...

 

[AustraliaPoochie]

O/T: was nice to use SQ MEL - WLG before they stopped it, got to see the SQ KF lounge in MEL for cheaps, and also to see the Air NZ Koru in MEL too.
Was thinking about testing out the Koru in WLG one day, then SQ announced that WLG - MEL flights with SQ themselves are stopped from sometime in 2019.
One time I put in my SQ KF # number into a VAd booking, MEL - ADL, got declined after the points didn't appear, and I put in a points claim.
Didn't want to make a fuss, so let it slide.
Back on topic, looks like due to circumstances, as it is, VA is going solo for the time being.
No announcements post VA (voluntary admin), what they will do with their former alliance with SQ and the others.
AN (Ansett) days were the best, yes, long gone, but those were the good times FF alliance wise.

Post automatically merged: Apr 18, 2021

SYD, just don't show the dark blue book on here!

 

[jonboixxx]

Unfortunately there are fees now,

The SQ fees are fair; I've been whittling away at my at-risk KF points doing BNE-CNS. SQ is 21k and $36 vs VA 23.5k and $47 in J.

 

[lovetravellingoz]

The SQ fees are fair; I've been whittling away at my at-risk KF points doing BNE-CNS. SQ is 21k and $36 vs VA 23.5k and $47 in J.

Yes they are fair, but it was good when they were free on the Virgin Partner Redemptions. It was good while it lasted.