Westpac Velocity Auto-Redemption to close

[roby]

Just a friendly reminder that From 15 April 2019, you will no longer be able to enrol your credit card for Velocity Auto-Redemption. If your credit card is currently enrolled, or enrolled before 15 April 2019, Velocity Auto-Redemption will operate as usual until further notice. This change does not impact customers who have an Altitude Business card.

I was so lucky to spot this in time otherwise would have lost 1/3 of the points. There is a good chance the transfer ratio would be 3:1 in the near future, auto-redemption or not.

 

[jb16]

With all the Amex points changes this months, is it correct that the Westpac Black Amex, with auto-redemption to Velocity, is the only card for the time being, that will earn 1.5 Velocity points/dollar?

 

[Mattg]

Ouch, devaluation by stealth here on the part of Westpac! This was the only thing that wasn't devalued in the recent Altitude changes, and now they're getting rid of it.

At least they're giving people notice that they can still sign up for Velocity auto-redemption now.

How long until they stop offering it altogether? (I give it 3-6 months...)

 

[Icy]

With all the Amex points changes this months, is it correct that the Westpac Black Amex, with auto-redemption to Velocity, is the only card for the time being, that will earn 1.5 Velocity points/dollar?

To my knowledge it appears so. Best alternative after April 15th seems to be 1.25 on general purchases.

 

[lonewolf]

So is it better to keep the auto redemption or to just not use it and keep it in the normal altitude rewards and transfer to krisflyer?

 

[Bell21]

I don't have Altitude but a friend of mine does and I advised them to sign up for auto-redemption - my logic is that if you prefer VA/KF, then if you need to transfer points from VA to KF down the track it will be at a similar rate to if you don't have auto-redemption and transfer direct to KF (this assumes that you don't particularly value AM currently, given their availability changes in recent times)

 

[lonewolf]

I don't have Altitude but a friend of mine does and I advised them to sign up for auto-redemption - my logic is that if you prefer VA/KF, then if you need to transfer points from VA to KF down the track it will be at a similar rate to if you don't have auto-redemption and transfer direct to KF (this assumes that you don't particularly value AM currently, given their availability changes in recent times)

What is AM? Asia Miles? From what i have read here, it sounds like Asia Miles isnt as good as some of the other products but i have never used them or have any points in them so i am not sure. Generally for me I fly mainly to Asia especially the cheaper destinations like vietnam , thailand, malaysia etc. So I figured KF is probably better for me than some of the other Flyer programmes. I do hate the expirey that KF has and i am under the pump at the moment to try to use up all the points i do have with them. So you reckon even if i want to use KF down the track, having auto redemption and then transferring from Velocity to KF down the line is similar to keeping it in Altitude and doing a direct transfer to KF down the line?

 

[Bell21]

Yep, am is asia miles - tripping the riff did a great analysis of current FF programs in one of the amex forums which is well worth a read --- I was booking a trip to asia recently for a family holiday at xmas and found lots of availability on kf but limited on am which seems consistent with what others have found since am devaluation

Re altitudes, I'm no expert so someone tell me if I'm wrong, but I read it as follows---

1) auto redemption - 100000 altitude points gives you 50000 Velocity points, which in turn is circa 32500 kf points if the you choose to do so at a later date

2) manual redemption - 100000 altitude gives you 33,000 Velocity, kf or Asia points

So given above and given that KF has a hard 3 year expiry and Velocity has 2 year soft expiry, it seems logical to singup for auto redemption unless you value am points

 

[lonewolf]

Yep, am is asia miles - tripping the riff did a great analysis of current FF programs in one of the amex forums which is well worth a read --- I was booking a trip to asia recently for a family holiday at xmas and found lots of availability on kf but limited on am which seems consistent with what others have found since am devaluation

Re altitudes, I'm no expert so someone tell me if I'm wrong, but I read it as follows---

1) auto redemption - 100000 altitude points gives you 50000 Velocity points, which in turn is circa 32500 kf points if the you choose to do so at a later date

2) manual redemption - 100000 altitude gives you 33,000 Velocity, kf or Asia points

So given above and given that KF has a hard 3 year expiry and Velocity has 2 year soft expiry, it seems logical to singup for auto redemption unless you value am points

Cool, so it does look like it might suit my needs especially since i already have too many kf points at the moment

 

[CPMaverick]

Hmm, I hold an Altitude Business card but I have the same message on my account.

When it says "This change does not impact customers who have an Altitude Business card." I am not sure if it means the stopping of the Auto-redemption, or the continuing of it if already enrolled.

I've been just stockpiling Altitude points as I wasn't sure whether to go with QF or VA. Now maybe I need to choose.

 

[vandy]

I didn't spot this in time

 

[Zanzara]

Looks like even for those that slipped through before 15/4 that the current auto ratio rate of redemption will end on 2/8.

Altitude Card holders are being asked to call Amex by 26/7 to amend the current velocity auto redeem set up and if they don't, it will revert to 3 altitude points per Velocity point regardless after 2/8 anyway.

As the auto earn rate is being devalued it may pay to hold off a bit?

New earn rate is below.

 

[woodborer]

Looks like even for those that slipped through before 15/4 that the current auto ratio rate of redemption will end on 2/8.

Altitude Card holders are being asked to call Amex by 26/7 to amend the current velocity auto redeem set up and if they don't, it will revert to 3 altitude points per Velocity point regardless after 2/8 anyway.

Why would they ask you to call Amex?

 

[Zanzara]

Because if you don't, from 26/7 you presumably revert to the default position; earning Altitude points and then manually opting to transfer them to Velocity or Silverkris or any of the other partners Westpac have gotten into bed with.

 

[woodborer]

Because if you don't, from 26/7 you presumably revert to the default position; earning Altitude points and then manually opting to transfer them to Velocity or Silverkris or any of the other partners Westpac have gotten into bed with.

But why call Amex about a Westpac program?

 

[lonewolf]

Plus the Westpac program can be for their Amex card or their own mastercard / visa.

 

[Zanzara]

Apologies. Probably didn't make things clear. You would need to call AMEX for your Altitude Amex because for sometime the Westpac Altitude AMEX is issued by AMEX and administered by AMEX and e mails are being sent by AMEX.

The phone number provided is an AMEX number... must be because Westpac closed their own AMEX cards & stopped issuing AMEX cards themselves. Guess you could call Westpac too if you wanted to. You would have no choice if you just have an Altitude MasterCard as that is still issued by them, but they're not the ones changing the auto redemption for AMEX.

 

[Drakecula]

I'm home sick today so my brain isn't firing on all cylinders. I'd like my next redemption goal to be SQ suites - so would I be best to just let this lapse and stick with altitude rewards? By my calculations I'm getting 3AR per $1 which is roughly $1 per 1KF. Whereas if I switch to the new auto redemption it's I think, $1 per 1.25V which in turn (if I transfer from V to KF) is about 0.9KF. (This is based on AUD spend)

Is my maths right?
Obviously switching is best if I am valuing Velocity over KrisFlyer, but given what I'm aiming for, should I just let it lapse? Would love some input.

 

[lonewolf]

Is this only for the Amex Altitude cards and not the mastercard Altitude cards supplied direct by Westpac, I am confused.

 

[Mattg]

Is this only for the Amex Altitude cards and not the mastercard Altitude cards supplied direct by Westpac, I am confused.

It's for both.

If you click on any of the credit cards on the Westpac website, then select Altitude Velocity, you'll be able to see the varous earn rates under the new Altitude Velocity program.

FWIW, I think Westpac has done a terrible job at communicating the change and it's a bit of a dog's breakfast at the moment.