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..?

 

[Bct]

gut feeling is that its an internal shipment number and not a postal tracking number

Internal.

 

[clarkkent]

Tracking codes for products fulfilled by Harvey Norman appear to be trackable with TNT (at least mine was).

 

[Scr77]

Hmm, any ideas on redeeming reward seats with external airlines for say next year / end of this year?
Any routes?

Otherwise it's time to tank the 1 gift-card a day.
Still hoping Virgin somehow pull through this.

Pls see post #623

 

[hydrabyss]

I came across this earlier in news report.

VAH's working capital is increasingly being affected by cancellations, minimal bookings and outflows at its loyalty programme as members redeem points for non-flight benefits.

 

[Rob.au]

Guess my VGW card would go off too, once VA goes into bankruptcy.
My balance there is only about Aud$50 or so.

Velocity isn't a financial institution - Velocity Global Wallet is a branded product. Cuscal Ltd is the ADI behind that.

 

[neljelpoo]

My experience for those trying to gauge experiences from others re: tracking of JB-HIFI GC redemptions.
I've been ordering 1 a day since 11/4 to kill off my 900k points; 7 x GC total to date - all on pending still.
And I did receive a generic email with each of these orders. I have attached a screenshot of the email contents for those wondering

1. Has anyone who ordered after 11/4 already gotten their GC or a change in status?
2. And for those who have started receiving their GCs, did you get a letter or anything to confirm the order number of the GC received? My worry is that if there is no tracking number with all these GCs (as some have alluded to), then how would we know which order is missing once they start coming (still optimistic that some of these cards will be dispatched...)

 

[Bct]

1. Has anyone who ordered after 11/4 already gotten their GC or a change in status?

My guess is nobody. I started ordering JB hifi gift cards 05/04 and no delivery, no email and still pending.

 

[sausagefingers]

I received my order from Harvey Norman placed on the 9th today, well half of the order so far.

 

[Mr H]

I like to think of myself as having lifetime Ansett Australia Global Rewards platinum status, with enough points to redeem for two RTW Star Alliance tickets in the afterlife.

For the same reason, my Velocity balance has been cleaned out.

And I have about enough JY points for 50 return trips from Belfast to Jersey - available as stickers in a booklet. But since I had long ago worked out that I didn't want free flights to Jersey I was not heartbroken when JY collapsed last month.

 

[Cryptarcadian]

I received my order from Harvey Norman placed on the 9th today, well half of the order so far.

Did you ever receive any tracking, or they just arrived? It sounds like that was the case for people upthread, but wondering if it's changed...

I feel like I need to bite the bullet and try to redeem the rest of my points for big ticket items (vs. a gift card a day until "the end"). I sent 50% of my stash to KrisFlyer thinking I'd get to consider the other 50% a few days later... and well, here I am, still hundreds of thousands of points left.

0.5c per point

 

[KJZ73]

I've cashed out my 150K points for JB hi fi gift cards. I ordered it late last week and the order status is still "pending". My colleagues have also cashed out their points (all in total 3M points).

No JBHifi or David Jones gift cards left....

 

[neljelpoo]

No JBHifi or David Jones gift cards left....

Westfield gift cards are still available though for those keen to redeem the rest of their points. It is a bit more expensive though!

 

[b773]

My guess is nobody. I started ordering JB hifi gift cards 05/04 and no delivery, no email and still pending.

I've ordered giftcards on the 5/4 and nothing has shown up yet. I did get the email rewards store saying:
Thank you for shopping with the Velocity Rewards Store!

 

[KJZ73]

Westfield gift cards are still available though for those keen to redeem the rest of their points. It is a bit more expensive though!

Thanks, I think I managed to get 1 x $100 JBHiFi (and a $100 Endota) as the order went through prior to midnight but when I tried again after midnight it said sold out. I got a $100 and a $50 Iconic instead. It actually allowed me to get more than one voucher if they were for different items or amounts. Have enough points now for one more $100 voucher but expecting an email to say the JBHiFI voucher not available....
I didn’t have many Velocity points. They were mostly from bonus point promotions through Flybuys. It will be very sad if Virgin don’t get through this....

 

[earlyriser]

I've ordered giftcards on the 5/4 and nothing has shown up yet. I did get the email rewards store saying:
Thank you for shopping with the Velocity Rewards Store!

I ordered, points gone, no email, no confirmation and I can't find who I need to contact about this.

 

[kyle]

I ordered, points gone, no email, no confirmation and I can't find who I need to contact about this.

Velocity Frequent Flyer

Earn Points with Australia's most popular Frequent Flyer program - Velocity Frequent Flyer, loyalty program of Virgin Australia, and Winner of Program of the Year, Freddie Awards 2020 - Middle East, Asia & Oceania. Join free today.

shop.velocityfrequentflyer.com

 

[Returnofthemach]

To avoid the gift card gauntlet I’m considering grabbing an iPhone 11 for the wife to replace her ageing iPhone X. It’s an absolutely horrible way to burn hard earned points, but it will help reduce my point liability a little if the worst happens.

After having a good look, I think the Apple gear is the best value in the store for no other reason than Apple gear rarely gets discounted.

The Velocity store seems to charge the points equivalent to RRP for everything - you never pay RRP for most of the stuff in a retail environment. Between sales and haggling, particular for some electronics and white goods, you can often get big discounts. The big TV they are selling via the Velocity store for 650k odd points, you can get for around 2k cash at the shops...

 

[Mr H]

I sent 50% of my stash to KrisFlyer thinking I'd get to consider the other 50% a few days later... and well, here I am, still hundreds of thousands of points left.

0.5c per point

That was a very odd decision you took.You saw the danger, you decided to act on it, and you only half followed through. The half of the points you left were in the same danger as the ones you transferred out.

I would not be cashing out at 0.5c per point because the rewards are so modest that I might as well take the all or nothing gamble. If I lose $2-3k worth of vacuum cleaners then I will learn to cope.

 

[jetset]

Ordered iPhone on the 6th, arrived yesterday after 11 days.
Order said 'pending' until item arrived.

 

[TheInsider]

No JBHifi or David Jones gift cards left....

They seem to be available again.