Is it Time to transfer/withdraw points from Velocity? | Page 19 | Australian Frequent Flyer
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Is it Time to transfer/withdraw points from Velocity?

westsurf

Junior Member
Joined
Aug 19, 2019
Messages
36
Virgin
Gold
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My Map
Transferred mine on Thursday to Krisflyer ... felt bad doing it but believed it was the best decision. I guess that’s been vindicated now.
 

stoney

Intern
Joined
Apr 27, 2009
Messages
98
Flights
My Map
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..?
I would act immediately if not sooner. I speak here from experience with Ansett, when NZ raped it and sent it broke I lost not only thousands of points but life membership.
 

DaveB

Active Member
Joined
Sep 6, 2012
Messages
603
Flights
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We should have a lucky exit door prize of who redeemed their points last before the KF transfer was stopped.
I left my get out to 09:45 EST yesterday having set up the transfer account at 09:44.
 

Nathant123

Member
Joined
May 31, 2016
Messages
145
I converted a while ago when I was initially planing on using some points to book a return trip to India via Singapore. Obviously that’s fallen through and I doubt I’ll be going anywhere this year. I know they have a 3 year expiry and whilst that initially didn’t worry me, I’m wondering now how long before things return to normal, and how long before international travel becomes unrestricted. I Also anticipate a lot of programs becoming devalued. Now I’m starting to think if it’s even worth pursuing velocity points. I predominantly use the velocity Amex and Coles flybuys MasterCard and still have ~360k points in flybuys..
 

tomcut2000

Active Member
Joined
Feb 27, 2014
Messages
691
Do transfers between flybuys and velocity still work? I've noticed flybuys offers have decreased greatly which is surprising as I reckon Coles are making more money now than ever before.. but I suppose they don't want people to be making the minimum spend by bulk buying essentials that are hard enough to find.
It worked as of 5pm yesterday... transferred 8000 flybuys points to velocity to reduce some cost for an IPad
 

bellsux

Junior Member
Joined
Aug 28, 2009
Messages
29
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.
 

westsurf

Junior Member
Joined
Aug 19, 2019
Messages
36
Virgin
Gold
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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.
Was one flight away from that ... cancelled due to Victorian shutdown.

Have to admit I am a bit pissed about not getting one after a year trying to achieve it.
 

hydrabyss

Active Member
Joined
Jan 31, 2012
Messages
624
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Was one flight away from that ... cancelled due to Victorian shutdown.

Have to admit I am a bit pissed about not getting one after a year trying to achieve it.
where you short on sectors or status credits or both

my partner is on 927sc but luckily has the sectors and till august
 

Dane Charles

Newbie
Joined
Oct 19, 2017
Messages
3
Escaped with a very significant transfer last week and then another very significant amount at 3:41pm Yesterday (Fri) :eek:

Maybe it was me who spooked them 🤐

Felt bad doing it so I am left with enough for 30 or so gift cards. Wondering if I should set up some kind of bot to draw down my balance one per day or whether I just wait it our and cross my fingers..
 

ozstamps

Active Member
Joined
Aug 30, 2003
Messages
835
Virgin
Platinum



I transferred over 3 times that 200K SQ, my partner a lot too, and many others will have too, so his figures may not be too fanciful. And many had balances many times ours.

The writing has been on the wall for weeks now, to all with eyes.
 

hydrabyss

Active Member
Joined
Jan 31, 2012
Messages
624
Flights
My Map



I transferred over 3 times that 200K SQ, my partner a lot too, and many others will have too, so his figures may not be too fanciful. And many had balances many times ours.

The writing has been on the wall for weeks now, to all with eyes.
Helped by people who claim they don't panic.

As I have mentioned before there are only so many life rafts.
 

Bct

Junior Member
Joined
Apr 4, 2020
Messages
31
Does this also mean that all Velocity redemptions for rewards is also draining the cash reserves?
 

kyle

Established Member
Joined
Mar 8, 2006
Messages
1,052
Have now nearly emptied the family's Velocity pool except for about 20K into goods and gift cards. Nervous 14 day wait for delivery... One of the items, a Dyson, is coming from Harvey Norman I believe.

I really hope to see VA flying on the other side... I don't want to abide by QF's lounge dress code.
 

Bagpuss

Active Member
Joined
Feb 24, 2014
Messages
956
Of course it would.
Have to remember when you are redeeming Velocity points for Virgin flights, Velocity isn‘t really paying Virgin that much for the flights.
For example I expect an economy seat Sydney - Melbourne is $15, in business probably $100. For Perth - Sydney in economy $40 and in business $150.
 

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