Is it Time to transfer/withdraw points from Velocity?

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Bibendum

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Sep 5, 2016
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Qantas
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Virgin
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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..?
 
There are reports that having your SQ points re-credited to your SQ account may have a charge levied d by SQ.
We are waiting to hear whether that is the case that they can levy that charge when it was them that cancelled the flight.
 
I cashed in every VFF point I had to KF back in Oct, and got us a trip to Iceland in SQ J at the end of this Sept. This is a big deal to us.
My understanding is that if Covid19 prevents this trip from happening, we can reschedule the trip (maybe to early 2021) or have the KF points re-credited.

I cancelled a KF award on 13 March, for travel starting on 14 March. I did this online. Not really sure what their process is. I got an email saying we received your cancellation request but at this stage no points or taxes have been credited. I expect to a 75USD fee but not sure when or how its collected.

The reservation remained confirmed, with a ticket number, right up until and after the original departure time.

I'm hoping it wasn't treated as a no show and think that there is just some human intervention necessary. I won't be chasing them up for it yet as my case is certainly not urgent.
 
I've got just under 800k in Velocity, when I tried to transfer to KF yesterday I got an error message. So I delinked my account then tried to link again, but now I'm getting a message saying the KF account is already linked to another Velocity account. I don't know what's going on. Don't wanna lose these points and I don't wanna cash out on coughpy gift cards. :confused:

I had the same problem, an old closed Kris Flyer account which was still linking to Velocity Ended up calling the call centre after suffering the same frustrations as you and was surprised to get through. They fixed the issue on the spot and I was able to make the transfer.
 
I had the same problem, an old closed Kris Flyer account which was still linking to Velocity Ended up calling the call centre after suffering the same frustrations as you and was surprised to get through. They fixed the issue on the spot and I was able to make the transfer.

I was expecting Krisflyer to reject my request to link to Velocity as I already had a previous account so I was also surprised...
 
I have transferred 255000 Velocity points to Sing miles for 155000 miles last week in case VA goes bust, to my amazement my Membership expires in july 1 this year due to inactivity. Catch 22 ? . I hope the virus situation is over by then but I'm not holding my breath,. I tried to convert the Sing miles back to Velocity just to see the number I'm getting, this is it, 1.55 Sing miles to 1 Velocity points. Pathetic !
 
I have transferred 255000 Velocity points to Sing miles for 155000 miles last week in case VA goes bust, to my amazement my Membership expires in july 1 this year due to inactivity. Catch 22 ? . I hope the virus situation is over by then but I'm not holding my breath,. I tried to convert the Sing miles back to Velocity just to see the number I'm getting, this is it, 1.55 Sing miles to 1 Velocity points. Pathetic !
Why is it pathetic, everybody knows the conversion rules
 
some of the Virgin retail partners - like JB HiFi and Kathmandu etc, I suspect will also be defunct businesses, along with Virgin, when this mess settles in 3 months

So, as well as Virgin Australia, now you're predicting JB Hi-Fi will cease trading within the next three months? Ok.
 
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@Plutonus I have a different view on subject, do think a number of VA retail partners such as JB will be defunct or in liquidation in 3 months, most likely not. Will they still be a retail partner of VA who knows.
 
So, as well as Virgin Australia, now you're predicting JB Hi-Fi will cease trading within the next three months? Ok.

@Plutonus I have a different view on subject, do think a number of VA retail partners such as JB will be defunct or in liquidation in 3 months, most likely not. Will they still be a retail partner of VA who knows.

This is a fairly good situation for JB HiFi vis a vis many other ASX listed companies:

 
So, as well as Virgin Australia, now you're predicting JB Hi-Fi will cease trading within the next three months? Ok.

With Kathmandu, that you omitted to quote me on as predicting was toast - I'd say 2 MONTHS tops. Not 3 months.

Would I be converting Velocity miles into Kathmandu Gift vouchers? Well I have posted my view above. You go RIGHT ahead if that bright idea works well for you. Lets check back end May to see who was fooled.

Their Share price is ONE FIFTH what it was a month back, that presumably you did not bother to check - $3.35 to 65c in under a month - the market clearly has a different view to your wild optimism -


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A business that sells things to folks who travel overseas - what could possibly go wrong there in this no travel environment?

As for JB HiFi being locked down nationally for months - and coming out covered in cash and smiling faces - some folks have VERY short memories - google a similar business Dick Smith Electronics and let us know how well they fared in an NON Covid climate.

Sadly the globe will be littered with closed businesses due to this virus. Collapses not of their making. I just would not leap in and buy gift vouchers from them, with my million velocity miles, but you go right ahead.
 
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Their Share price is ONE FIFTH what it was a month back

You know they been a basket for a few years?

As for JB HiFi being locked down nationally for months - and coming out covered in cash and smiling faces - some folks have VERY short memories - google a similar business Dick Smith Electronics and let us know how well they fared in an NON Covid climate.

JB sells phones TV and white goods. If you are in lock down for 6 months, you would want a computer a monitor and a phone to keep in touch and do work. A person sitting next to me at work on Monday told me she needed to go to JB Hi Fi to get a monitor, so she could connect her company notebook computer to it for work. You can't work off a tiny 13" screen on a laptop for 6 months. (I told her to go to MSY to save herself some money)

JB also sells white goods. People who lost their minds are buying freezers to store food stuffs. JB could be profiting from that.

What was Dick Smith Electronics selling? They moved away from the Jaycar market, tried selling branded electronics, but they could not compete, so they started selling poor quality junk from China. What hope did they have?

You are mixing all these separate stuffs, to create a disaster inside your head. Look at people who lost their minds at the shops, see how they are destroying people's lives, where people with disabilities can't get basic stuffs, where shopkeepers are getting abused, where people stacking shelves and warehouses are being driven into a survival mode.

By writing the fake news on gift cards like you have been doing, you are creating another panic (like a run on a bank). People in that supply chain are working very hard, trying to get the gift cards out, trying to deal with all the phone and e-mail enquiries, being chased by those in front of them in the order to cash supply chain process, who are being chased by those more in front of them.

I have, in my limit capacity, released some information which I have knowledge of, because I don't like how people are driven to their limits having to suffer, because of some other crazy irresponsible people creating fake news out of nothing. Imagine if you are a worker in the chain trying to get the cards out, working your butt off, and there is another person trying to create another disaster for you. How would you feel?

And to further elaborate on the chain. People who ordered cards are chasing the companies they ordered from. These companies are chasing the contractor who does gift cards. This company is chasing the plastic card printing company, and the company who packs the cards. The company who packs the cards are chasing the card printing company. This company is also chasing the packaging products company for packaging materials. This company is also chasing on shipping consumables from the freight company. The freight company is just a complete mess at the moment.

What you are doing, is just making the lives of people who are working right now, hell.

So, as the Prime Minister said, stop it, just stop it.
 
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I would have thought all the additional cashflow these business get from a mad rush for gift cards would only help their chances of survival.
 
So, as the Prime Minister said, stop it, just stop it.

If you choose to transfer your Velocity Points to SQ, that is your choice.

If you choose to purchase Gift cards with your points, that is your choice.

If you choose to purchase or sell VA shares or bonds, that is your choice.

If you choose to hold your Velocity points, that is your choice.

Please, enough of the 'sky is falling' doom and gloom.

Just, please, be thankful we live in a time and a country where we still have these choices.

And , just take into account, we have these oportunities thank to our forbears who survived WW1, the Spanish Flu. and WW2.

Could we all just get on with working through this, and not stressing about points.

We will, as a nation and a species, get through this, and can we just be grateful for how lucky we actually are to be living where and when we do.
 
News Flash - this is a Travel Bulletin Board.

If you want to talk about Spanish flu, WWI or when Beer was 6d a pint etc, or whether Ford is better than Holden etc, there are plenty of other sites to do that.

THIS thread is headed -

Time to transfer/ withdraw points...?

Many members are clearly very worried about their lifetime of expensively accumulated points, and seek advice from others on what to do. They are not here to discuss WWI.

Discussing the options and hearing views of other members re whether to transfer Velocity points is ON TOPIC.

A gloomy prospect YES, but a real concern right now for many/most.
 
Discussing the options and hearing views of other members re whether to transfer Velocity points is ON TOPIC.

A gloomy prospect YES, but a real concern right now for many/most.

Agree, and transfer points if you like, order whatever you like, but don't create fake news about Virgin not paying for gift cards, like:

If Virgin ever get around to issuing them.

As posts above have clearly shown, Virgin are in no hurry at all to issue them. 🤢
 
The Frequent Flyer Concierge team takes the hard work out of finding reward seat availability. Using their expert knowledge and specialised tools, they'll help you book a great trip that maximises the value for your points.

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It is not fake news - it is a FACT that many here have raised above with great concern.

The only Fake News seems to be (totally unsourced) from you, claiming Virgin want shiny pretty folders to put them in. And that is the reason apparently NONE are being forwarded to those ordering them weeks back.

If I was waiting for $3000 of Gift Cards to spend fast, before that merchant hit the wall possibly, I would not care if they were in a paper bag or cello bag - nor would most others I am sure. 🤢 🤢
 
Not quite transferring points out, but rather activating your benefits in the case that VA+Velocity goes under.

I activated my Platinum offer for complimentary Hilton Honors Diamond Status in early March due to a Hilton stay in Perth. Hilton hadn't activated their side until the day after my stay - their email support was useless and didn't know what it was when I tried chasing it up.

Anyway, the point is, Hilton is extending their status through to 2022. If you haven't activated your platinum offer yet and think that VA+Velocity will sink from this, go ahead and do it now.

Details:
  • 2019 Status Extension. All members whose 2019 status was scheduled to be downgraded on March 31, 2020—whether it’s Diamond, Gold or Silver—will automatically receive an extension through March 31, 2021.
  • 2020 Status Extension. We are extending your 2020 member status through March 31, 2022. This means you will continue to enjoy all the Diamond, Gold or Silver benefits you have access to today for the next 24 months.
 
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