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..?

 

[aznspike]

Got another two of my gift cards ordered 9th and 11th April as well today. I guess there was a huge delay in processing on their end since the labels on the letters were only dated 1st and 3rd of this month! Post office stamped 4th and 5th. Live in NSW. I'm sure they'll start trickling through for everyone else! Phew!

 

[neljelpoo]

That’s reassuring. I started ordering one per day around that time and have only received 4 of the 12 I’ve ordered so far. Starting to worry especially as some of the things I planned to buy with them are going on sale.

When did you start ordering again?

I've got 10 orders starting 11/4 still waiting.

 

[inMotion]

Just received 2x David Jones gift cards with first order dated 09/04 (Melbourne). Also received a shipping advice from Druin in the Australia Post app (I assume it's an order from Harvey Norman) - if it is what I think it is, then that order was placed 14/04.

 

[jonboixxx]

The last of my redemption items ($100 JB gift card) ordered on 11 April has arrived today.

Now hope for the best for my remaining 7K points in the account.

Edit: Now 9K after another 2K from Virgin Money.

I've stopped spending on my VM card and also switched my BOQ Specialist card from V to Q.

 

[JohnK]

All the VA PR is saying ‘they are safe’.

VA is probably going to be bought and restructured.

They will need a FF program so I think it’s fair to say VFF will emerge in some way shape or form in 4 weeks for people to begin using points again.

I've been following the Velocity updates. Not looking good at all. Hold very little hope to get anything from Virgin/Velocity.

I've had enough of loyalty programs. Hope there are he heaps of $19 JQ airfares available after July.

 

[kyle]

I've stopped spending on my VM card and also switched my BOQ Specialist card from V to Q.

Those 2K per month can't be stopped. Comes from the home loan.

 

[sshazam]

Took a while to decide on what to get, so ended up ordering on 17/04.

Points have been taken from my account. No gift card just yet. Sadder is that I was waiting on Virgin to fix up 20k of points from my girlfriend looks like they're gone for good.

 

[Ozliz]

When did you start ordering again?

I've got 10 orders starting 11/4 still waiting.

I started ordering 5/4 and did one per day for 12 days. Only received 4 so far all on the same day.

 

[Mattg]

My wine order from 14 April arrived today.

Still no sign of the gift card I ordered on 9 April...
Edit: Gift card also just arrived today. Happy days! From the envelope, it looks like it was sent on 1 May.

 

[deebens]

Another package arrived from popink ordered the 7th. Booze from the wine store has now moved to processing and still have another JB giftcard (from maybe the 9th) I'm waiting on.

 

[Wello]

Gift card ordered on 9 April arrived today.

 

[BB197]

Nobody answering at Collinson’s today, still waiting on gift cards ordered 7/4

They answered today, still not shipped, no ETA and said to wait 28 days post order before calling them which I pointed out had already passed. At least I can stop stalking my letterbox for a few days

 

[HappyFlyerFamily]

Got an email today from PopInk in relation to my order of 20/4, the last day before the rewards store was shut down (hope my recollection of date is correct).

in my case the product is out of stock until mid-May.

at least I got an acknowledgment that my order will be filled. (not that there was too much doubt, given all the happenings with different orders).

 

[Chad2020]

Got an email today from PopInk in relation to my order of 20/4, the last day before the rewards store was shut down (hope my recollection of date is correct).

in my case the product is out of stock until mid-May.

at least I got an acknowledgment that my order will be filled. (not that there was too much doubt, given all the happenings with different orders).

What did you order of you don't mind me asking?

 

[Melburnian1]

Can't answer that but one I applied for on 6 April 2020 arrived at my home today (1 May 2020). Standard DL envelope, delivered by my friendly postie but it was just a gift card.

So at least some are still being processed, although maybe only up to 11 or 12 April 2020 receipt date by COLGROUP. Latter's mailing address is PO Box 602 Eastern Suburbs MC NSW 2004. A sticker suggests it was processed on 20 April 2020...

I received another gift card in the mail today, with its handwritten note suggesting it was also processed on 20 April 2020, but the postmark indicating it was only posted a couple of days ago. Presumably the mailing company - Collinson - has been absolutely swamped with requests.

I can't help wondering if the mailhouse has been or will be paid by VA/Deloittes as administrators for its efforts.

 

[HappyFlyerFamily]

What did you order of you don't mind me asking?

Microsoft Wireless Mouse.

 

[jakeseven7]

Got another GC today - ordered 4 April but was only posted 3 days ago so they are weeks and weeks behind....

On the plus side, AU post has sped up!

 

[Dee#]

Got wine from 7th April (tracking reg 25 April Aust post) on 4 May.
Partners wine from 10 April order (25 April Aust post registered) arrives today 8th May.
Still no sign of my second lot of wine big order 5 boxes from 10 April (registered 25 April). All from over east somewhere. I'm in Perth. All coming to same address. Would have thought it would all come at the same time being Post received it together.Must be on 3 different trucks across the Nullabor.
Still have 140,000 V FF's. Lots of flybuys too that I am holding, but will probably convert to cash.

 

[fseng]

BTW, what is everyone doing with their velocity branded credit card ? I had an Amex velocity platinum and just paid renew fee of $375 back in end of Jan. Was plan to use the lounge in May but not all travel plan cancelled. Chatted with Amex CS and they cannot refund the fee but can down grade me to a $0 fee qantas amex card, then I can get then portion of annual fee I have not used for my velocity amex card back. But of course I loose all the lounge and free flight benefit. My husband also has the same amex card but he renewed it sep last year. So not sure if I should keep it or not ...

And do you guys now applying for a qantas branded card or like just Amex rewards, or bank rewards card. What are your suggestions ?

 

[BNEFlyer]

BTW, what is everyone doing with their velocity branded credit card ? I had an Amex velocity platinum and just paid renew fee of $375 back in end of Jan. Was plan to use the lounge in May but not all travel plan cancelled. Chatted with Amex CS and they cannot refund the fee but can down grade me to a $0 fee qantas amex card, then I can get then portion of annual fee I have not used for my velocity amex card back. But of course I loose all the lounge and free flight benefit. My husband also has the same amex card but he renewed it sep last year. So not sure if I should keep it or not ...

And do you guys now applying for a qantas branded card or like just Amex rewards, or bank rewards card. What are your suggestions ?

I've got the Velocity Plat Amex, my renewal is in a couple of days. I wish they'd reduce the fee for this year but I'll be keeping the card. Can still earn points and I'll use the free flight sometime next year.