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..?

 

[hydrabyss]

I’ve only got 300k points remaining but will hold tight. I still have hope that VA can hold on and if they survive I’ll be about the only one with points so award seats shouldn’t be hard to find

I will keep mine in velocity which is only 200k but with many running for the hills I hope it does not make things worse for them. I suppose that's why I don't like the stock market too many nervous people.

 

[MollyJones]

For Mollyjones, SQ KF do also have a use by date for their FF system points.
Theirs is 3 years from accrual to death of your points if not used.

Yes, Thankyou for the reminder. We tend to use all our points and roll them over pretty quickly but good for anyone reading this thread who didn’t know about the expiry.

 

[NoName]

Pretty well decided to transfer ours to SQ which was likely to happen anyway at some point. Only around 180k so not heaps.

 

[EzioAuditore]

just got a SQ redemption cancelled. how long will the points be back into my account normally ? It’s not instant that’s for sure.

 

[ozstamps]

SQ can't accommodate you on future dates etc?

Getting points back into Virgin account will likely see them totally worthless in weeks ahead, and by June 30 at latest I'd guess.

Have never needed to transfer points to SQ before yesterday, and a credit to all concerned on the IT side, it took only seconds.

Moved about 1.1 million points Virgin to SQ yesterday and they showed in literally seconds as being there, and all with confirming emails.

If those coming back from SQ hit, move them to Kris Flyer I'd suggest maybe book same flight for another date. Just do not leave them in Velocity.

 

[EzioAuditore]

SQ can't accommodate you on future dates etc?

Getting points back into Virgin account will likely see them totally worthless in weeks ahead, and by June 30 at latest I'd guess.

Have never needed to transfer points to SQ before yesterday, and a credit to all concerned on the IT side, it took only seconds.

Moved about 1.1 million points Virgin to SQ yesterday and they showed in literally seconds as being there, and all with confirming emails.

If those coming back from SQ hit, move them to Kris Flyer I'd suggest maybe book same flight for another date. Just do not leave them in Velocity.

I requested the cancellation and they cancelled it but no points back to velocity yet. I will transfer to KF, but first need the points back to velocity.

 

[ozstamps]

Fingers crossed for you, and as I mentioned Virgin to KF was literally seconds - most impressed.

Than Gawd it did not have to be done by PHONE right now!

 

[cqtiger]

velocity must be loving dumping points to SQ

 

[EzioAuditore]

Fingers crossed for you, and as I mentioned Virgin to KF was literally seconds - most impressed.

Than Gawd it did not have to be done by PHONE right now!

I just used facebook messenger and they replied pretty quickly. They say it is up to 21 days for points to be back in this time. Fingers crossed indeed !

 

[jonboixxx]

velocity must be loving dumping points to SQ

Nice revenue for them.

 

[Ausbt]

I transferred sufficient to SQ to give me 2 x J returns to Europe ...provided the redemption rates don't change. Left 125K in VA, but I just had to hedge my bets. No one really knows what might happen.

 

[ozstamps]

Perhaps coincidentally just got this from Qantas .. maybe make a cunning new level to stop some points being transferred from there?

Not sure if everyone got it or just those above 500,000 points or whatever annual earn figure they targeted?

Dear ozstamps,​ ​ We're excited to introduce Points Club - our new world of travel benefits and exclusive offers for high points earners who earn on everyday purchases and activities. To unlock Points Club, you need to earn a minimum of 150,000 points on the ground in a Membership Year*, which could be from spending with your Qantas Points-earning credit card, online shopping or even paying your bills. Exciting rewards could be yours Qantas Lounge invitations٥, the ability to earn Status Credits on Classic Flight Rewards+ and bonus points with Qantas Hotels> are just the beginning of the benefits you could get as a Points Club member. Scroll down to start exploring. Unlocking Points Club is simple 1. Earn points on the ground with credit cards, shopping, hotel bookings and more. 2. Unlock Points Club automatically when you reach 150,000 points in your Membership Year.* 3. Enjoy a world of exciting travel benefits and offers.​

​ ​

 

[Ross B]

Think it might be sent to everyone, I received it and have a measly 31 points, just don't know how to spend them.

 

[serfty]

Perhaps coincidentally just got this from Qantas .. maybe make a cunning new level to stop some points being transferred from there?

Not sure if everyone got it or just those above 500,000 points or whatever annual earn figure they targeted?

I would suggest you continue discussion on the existing thread:

Qantas Points Club Discussion

The Qantas iOS app now has your Points Club status on the status activity page.

www.australianfrequentflyer.com.au

 

[jase05]

@ozstamps no it is not targeted. Has been some discussions for awhile about the new Points club QF have introduced on other threads.

 

[hydrabyss]

I read it as you have to earn those points in the future not have those points now and the points can't come from flying.

 

[serfty]

I read it as you have to earn those points in the future not have those points now and the points can't come from flying.

There's more info in the thread I linked in post 34

 

[CPMaverick]

I looked through the thread and online but I wasn't able to find an answer.

If you wanted to move points back from SQ to Velocity, is there any restriction? I have a KF account but have never earned points with it. So if I move points there, can I get them back later?

Cheers

 

[daft009]

I looked through the thread and online but I wasn't able to find an answer.

If you wanted to move points back from SQ to Velocity, is there any restriction? I have a KF account but have never earned points with it. So if I move points there, can I get them back later?

Cheers

Yes at a loss of 1.55 again

 

[serfty]

I looked through the thread and online but I wasn't able to find an answer.

If you wanted to move points back from SQ to Velocity, is there any restriction? I have a KF account but have never earned points with it. So if I move points there, can I get them back later?

Cheers

Yes you can, but at an eventual rate of 1/1.55² ...