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..?

 

[Bct]

I just ordered a $100 gift card, we have a lot of points but my wife is hesitant about redeeming them all. Will redeem a $100 gift card every day from now on, unless VA's future is resolved positively. No Bunnings $100 gift cards available which is annoying. I'm still on edge about this.

 

[ols]

I just ordered a $100 gift card, we have a lot of points but my wife is hesitant about redeeming them all. Will redeem a $100 gift card every day from now on, unless VA's future is resolved positively. No Bunnings $100 gift cards available which is annoying. I'm still on edge about this.

If I haven't bought it all there should be some grog left at the Velocity wine store.
Coles Myer vouchers gone, Bunnings gone.
I hope JB Hifi's not next.

 

[Bct]

If I haven't bought it all there should be some grog left at the Velocity wine store.
Coles Myer vouchers gone,

Ha ha. That Sony 75 inch TV is looking good, maybe I will 'accidently' redeem it. Poor use of points though.

 

[ols]

Ha ha. That Sony 75 inch TV is looking good, maybe I will 'accidently' redeem it. Poor use of points though.

Better poor than no use at all which I'm afraid of.

 

[mandja]

Hmmm - did transfer 80,000 to KF last week but remaining 72,000 not
Just bought Ticketmaster $100 voucher and balance on wine (incl delivery)

 

[ojm]

Three weeks ago I transferred 700k points to KF and yesterday I spent 150k points on the Velocity booze store. Still 350k points in balance. Feel a bit better by getting a lot out!

 

[stm1sydney]

I got the points transferred to SQ at 1.30 pm est, it was only through reading this thread that made me act. I suppose the black metal platinum bag tag can now be retired in the shoe box next to the Golden Wing tag.

Yes, I also still have a Golden Wing tag as a memorial to my deceased Ansett points. Transferred out the last batch of points from Velocity to Krisflyer on Friday.

 

[Stealthflyer]

My decision to leave my Velocity points untouched remains the same, even with these new restrictions (which seem sensible on VA's behalf IMHO).

I'm not confident in any airline at the moment, so prior to the suspension on transfers, I didn't want to send them over to SQ. I also didn't want to lose a bunch of points due to the miserable transfer rate.

If VA does get through this alive, I suspect domestic travel will be opening up well before international flights, and so it'll be a lot easier to redeem points sooner. It won't be the RTW business class trip I was about to spend my points on, but hey, I could go to NT or somewhere I've never been in the pointy end of the plane.

Yes, it's a risk. I'm fully prepared for the prospect that I'll lose all my points, but I always have been. I've read enough warning posts about Ansett on this forum to not be wary. But I'm merely wary - not panicky - about both losing points and running out of toilet paper.

The Australian government really doesn't want VA to disappear. The fact that VA - along with Qantas - is assisting right now with the repatriation of a lot of stranded Australians is a timely demonstration of VA's commitment to the national interest (even if economically motivated). VA will play a vital role in emerging from the economic 'hibernation'. A monopoly isn't good for anyone (and as a Taswegian, I fear what will happen to ticket prices - and consequently our tourism-focussed economy - if we end up with one airline). Airlines around the world need government support right now and they're getting it. It'll be a false economy to let VA fail and the government knows it and has signalled their support many times since this crisis began. My decision to leave my points where they are is a vote of confidence I suppose.

Anyway, that's my thinking.

 

[blaz]

If Virgin offered a $999 return deal east coast to Perth in Biz a LOT woud book it.

Many folks are not spooked by this current knee jerk panic. We are not, for sure. Those that are, may choose not to fly so that is their call.

Flying 25% full cabins for 3 months is a sure way to go broke.

Yes people need to be ENTICED to get on planes and great fares will work.

Failure to do that and VERY soon will see Virgin vanish in a few months I fear. So folks will withdraw points balances as we will.

Putting their head in the sand and praying for passengers is not working. And will not work.

However, Perth is in isolation, and unless you are prepared to stay in a room for two weeks, it won't be much fun...until things return to normal, even a business class seat is really only about the size of the seat, and that's about it.

 

[Doyen]

I am concerned at the continuing Ansett like trend. If we see $50 virgin flight credit with the purchase of a $2 jar of IXL jam we have ticked the final box.

 

[Major]

Just used the last of my points to buy several bottles of

Sidewood Estate Adelaide Hills Pinot Noir

 

[jakeseven7]

I just ordered a $100 gift card, we have a lot of points but my wife is hesitant about redeeming them all. Will redeem a $100 gift card every day from now on, unless VA's future is resolved positively. No Bunnings $100 gift cards available which is annoying. I'm still on edge about this.

Gosh the Velocity store is cough, you don't even get an email confirmation of your order.
Have been helping my Mum redeem out her points for vouchers - no confirmation email, nothing.

Has anyone got any confirmation or actually received a gift voucher (or any order) from the VA store yet?

VA user experience is still rubbish!

 

[Rob.au]

Has anyone got any confirmation or actually received a gift voucher (or any order) from the VA store yet?

I got a confirmation e-mail saying "Thank you for shopping with the Velocity Rewards Store!", at the time I placed the order on 28 March.

The website still says "Pending" and I haven't received the JB vouchers/cards.

 

[Bone2707]

This reminds me of the lead up to the Ansett collapse. The smart people (not including me) were redeeming Ansett points for "hard currency" rewards with other airlines. We had the good fortune to redeem 5 each way (ie 10 in total) economy flights to Fiji the month before Ansett fell over. That was more good luck than good judgement.

 

[jakeseven7]

I got a confirmation e-mail saying "Thank you for shopping with the Velocity Rewards Store!", at the time I placed the order on 28 March.

The website still says "Pending" and I haven't received the JB vouchers/cards.

How annoying, I have done 3 X orders, no email confirmation for any of them...

 

[jetset]

Are they shipped directly from the merchants?

 

[snufl]

Info for those waiting for gift cards. I ordered a few JB Hi-Fi on 26th March and the postie just delivered registered post. Status still shows as "pending".

 

[clipped_wings]

Question: I am personally in favor of dropping the Virgin name and VA morphing into a refreshed Aussie brand (to keep the Qantas coughs honest). We left our points in Velocity as there just weren't that many to gamble - around 100k.

But if and when it does resume flying, will all those who engaged in the mass exodus to SQ - return to our forum? Will you fly VA again? Do you reinvest your points with Velocity?

So confused right now.

 

[clipped_wings]

Info for those waiting for gift cards. I ordered a few JB Hi-Fi on 26th March and the postie just delivered registered post. Status still shows as "pending".

Love that avatar! I've just become a bird lover after daughter's two conures lived with us for 6 months.

 

[tomlee1986]

Gosh the Velocity store is cough, you don't even get an email confirmation of your order.
Have been helping my Mum redeem out her points for vouchers - no confirmation email, nothing.

Has anyone got any confirmation or actually received a gift voucher (or any order) from the VA store yet?

VA user experience is still rubbish!

I did get the email for confirmation - check your junk or spam folder.. was there when I had my order