Virgin Australia enter Voluntary Administration - Impact on Amex cards?

[Rod James]

Why would they? Why would they accept something of absolute *zero* value (to them anyway) and give away something of tangible value? People have no choice but to use QF. That is the whole point of arguing for VA's rescue: we now have an actual monopoly.

Virgin has not collapsed so we do not yet have a monopoly. Many on here have jumped the gun . Wait and see what the outcome is, please.

 

[BNEFlyer]

Well, they haven’t. That’s not what Voluntary Administration is. The media are continually using that word when it’s not the case.

 

[Doctore1003]

Amex has now suspended manual transfers of Membership Rewards points to Velocity.

 

[lopes2017]

Looks like Amex is offering a transfer to (they see the following as a downgrade so no additional credit check required):

• Qantas Discovery Card
• Qantas Premium Card
• Essential Card
• Platinum Edge Card

No transfer offered to the Qantas Ultimate Card - requires a new application

...at least this is the advice I have received....although it may be premature to transfer (if at all) without understanding if the Velocity Card will continue.

 

[jakeseven7]

Looks like Amex is offering a transfer to (they see the following as a downgrade so no additional credit check required):

• Qantas Discovery Card
• Qantas Premium Card
• Essential Card
• Platinum Edge Card

No transfer offered to the Qantas Ultimate Card - requires a new application

...at least this is the advice I have received....although it may be premature to transfer (if at all) without understanding if the Velocity Card will continue.

Thank you this is good to know, I guess people with multiple cards can just stop using their Velocity cards, but for those who don't have a choice its good to know Amex are facilitating a change to these cards.

 

[ramboflyer]

My interest in earning points for QF is null and I will only fly them out of bare bone necessity (frankly, I'd rather car or rail options on most routes). To that, I'll be looking at alternative card options so hopefully Amex come to party.

Have you checked out the Westpac Altitude cards? The Amex card earns 3 Altitude points which converts to 1 Virgin/Singapore Airlines/Air NZ point and often has excellent sign on bonuses.

 

[jimmywise]

Looks like Amex is offering a transfer to (they see the following as a downgrade so no additional credit check required):

• Qantas Discovery Card
• Qantas Premium Card
• Essential Card
• Platinum Edge Card

No transfer offered to the Qantas Ultimate Card - requires a new application

...at least this is the advice I have received....although it may be premature to transfer (if at all) without understanding if the Velocity Card will continue.

Any idea on the Explorer Card?

 

[QF_Flyer]

Looks like Amex is offering a transfer to (they see the following as a downgrade so no additional credit check required):

• Qantas Discovery Card
• Qantas Premium Card
• Essential Card
• Platinum Edge Card

No transfer offered to the Qantas Ultimate Card - requires a new application

...at least this is the advice I have received....although it may be premature to transfer (if at all) without understanding if the Velocity Card will continue.

Any info re the difference in annual fee? OH's card is only a couple of months old :/

 

[Caversham04]

Slightly OT, but Interesting to note that ANZ have stopped applications for the Rewards Travel Adventures card. Amex don’t appear to have done the same, in fact OH got a generic email about the Plat Velocity last night, business as usual and they’ll keep us updated.

I noticed that too; I'm not overly familiar with their scheme (I got that card mainly for zero overseas commission reasons and don't yet have enough non-bonus points to worry), but if I understand their system correctly, it seems a bit bizarre given that the card earns ANZ Rewards Points and these can be exchanged for things other than Velocity Points??

 

[glasszon]

I noticed that too; I'm not overly familiar with their scheme (I got that card mainly for zero overseas commission reasons and don't yet have enough non-bonus points to worry), but if I understand their system correctly, it seems a bit bizarre given that the card earns ANZ Rewards Points and these can be exchanged for things other than Velocity Points??

That's because one key benefit of the card is a free return ticket domestically with VA to justify the annual fee on the card.

 

[lopes2017]

Any info re the difference in annual fee? OH's card is only a couple of months old :/

They mentioned they would use a prorata method of calculating the remaining annual fee left to credit/ contribute to the annual fee of the new product...less than ideal

Post automatically merged: Apr 23, 2020

Any idea on the Explorer Card?

They did not offer the Explorer Card as an option

 

[Happy Dude]

Looks like Amex is offering a transfer to (they see the following as a downgrade so no additional credit check required):

• Qantas Discovery Card
• Qantas Premium Card
• Essential Card
• Platinum Edge Card

No transfer offered to the Qantas Ultimate Card - requires a new application

...at least this is the advice I have received....although it may be premature to transfer (if at all) without understanding if the Velocity Card will continue.

Ditto. Those were the options I was given too, with no sign up bonus (as expected but thought I'd ask anyway). No retention offer either. So my household is Amex-less for the first time in more than a decade.

I have switched to cashback deals where possible as chasing points and holding credit cards for travel benefits/rewards is pointless for the foreseeable future.

 

[Nicholas Wood]

After holding a Velocity Platinum Amex for 6 years I've just called and cancelled, turns out today was the last day that I was eligable to have my $375 annual fee refunded (charged 29 days ago). Can't see a benifit from the fee in the forceeable future.

Will consider a new application for a future card but at this stage I feel like one less credit card in my wallet is a good thing.

 

[jakeseven7]

I’ve just stopped using any method to accrue VA points. My annual fee on a VA card is up shortly so I will be cancelling that / see that alternative QF card they offer

 

[Platinum Flyer]

After holding a Velocity Platinum Amex for 6 years I've just called and cancelled, turns out today was the last day that I was eligable to have my $375 annual fee refunded (charged 29 days ago). Can't see a benifit from the fee in the forceeable future.

Will consider a new application for a future card but at this stage I feel like one less credit card in my wallet is a good thing.

I didn't realise you could get the fee refunded after it's charged, good to know

 

[_flyer]

Looks like Amex have scraped their Velocity direct earn cards...They are currently not offering a downgrade the platinum to escape and suggested a membership rewards card. The Velocity credit cards have also been removed from the Amex website.

 

[stig_aus]

Looks like Amex have scraped their Velocity direct earn cards...They are currently not offering a downgrade the platinum to escape and suggested a membership rewards card. The Velocity credit cards have also been removed from the Amex website.

I just got off the phone with them to try and get my Velocity Platinum exchanged for an Explorer. Was told that I could only get this by doing a new application or I could downgrade to the Essential or Qantas Discovery cards (hardly equivalents).

Has anyone tried or been successful in negotiating any bonus points attached to a new application as a result of closing an essentially useless (from an awards standpoint) Velocity AMEX?

 

[ff-jr]

Looks like Amex have scraped their Velocity direct earn cards...

You can still apply for the VFF cards via their product pages; Amex have just removed all links and references to these products which I would imagine is an interim measure.

 

[dontwanttoregister]

For Velocity cards with annual fees due between May and August, the annual fee due date will be deferred to November 2020.

I rang to cancel today and was advised this was just announced internally. Comms will be sent to affected cardholders shortly.

 

[Actos]

For Velocity cards with annual fees due between May and August, the annual fee due date will be deferred to November 2020.

I rang to cancel today and was advised this was just announced internally. Comms will be sent to affected cardholders shortly.

Amazing news! Mine was due in a few weeks time and I was still wondering whether I could pay it in time.