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..?

 

[MooTime]

why would you keep points now when administration is heading in and that would wipe the redemption of points for seats? That said it doesn't even seem likely that even if you redeemed them today that you'll get anything? Looking dire and a lose-lose situation currently.

Can only hope you will but I placed mine end of last week - i doubt i'll see any of them

Why would suppliers honour it? If i were them I wouldn't (if i wasn't getting paid). Hoping i'm still going to get the wine order at least, which is at least a gin or two haha. Wouldn't count on it though!

keeping points may, just maybe a possibility that the velocity program will be kept separate as it is a separate business, entity, profitable at that to the possible VAdmin of Virgin.
If virgin fails & velocity continues in some format by 'other' owners, they'll want to keep the 10Million velocity customers & those customers will retain their points.

That's one point of view I've been hearing today.

 

[SOPOOR]

Oh well
Made my order 11 days ago for gift cards

Sincerely hope i get them.
It looks like I made the right call for once, hopefully they still get honoured

 

[Supersonic Swinger]

Have they pulled the Velocity Store? I'm getting "504 Gateway Time-Out" when I try to log in...

 

[woodborer]

Have they pulled the Velocity Store? I'm getting "504 Gateway Time-Out" when I try to log in...

Probably getting hammered.

 

[jakeseven7]

Have they pulled the Velocity Store? I'm getting "504 Gateway Time-Out" when I try to log in...

Its been very slow today.... but I just managed to log in. Suspect ALOT of traffic right now.

 

[earlyriser]

Have they pulled the Velocity Store? I'm getting "504 Gateway Time-Out" when I try to log in...

I think it's just getting smashed. I almost confirmed an iPhone until my partner changed her mind for an iPad, now it's not working.

 

[Lomandriel]

I doubt they would honour it today

I did put in orders from Wed onwards last week.. and read online that someone had their tv soundbar unit from lats week cancelled? So it doesn't leave me in much hope if you didnt' order before last week that we'll get honoured.

I do hope the winestore was abit faster and somehow put through my order between Friday and today.. doubt it, but my only hope of getting some value out if the gift cards don't come thorugh.

If some here are banking on Velocity FF continuing then the assumption is all our redemptions have to come through, otherwise the program wouldn't be continuing (on that assumption). So we are all either going to be right or wrong together.

has anyone else's orders from last week been cancelled?

 

[Supersonic Swinger]

Probably getting hammered.

Its been very slow today.... but I just managed to log in. Suspect ALOT of traffic right now.

I think it's just getting smashed. I almost confirmed an iPhone until my partner changed her mind for an iPad, now it's not working.

Mentioned to someone yesterday that they should consider redeeming their points yesterday. They haven't, and now it looks like they've well and truly missed the boat with the site overwhelmed...

 

[djfuzz]

Well, managed to get through to checkout only to keep getting bounced out.

I sat on this over the weekend so I guess I only have myself to blame.

 

[Lomandriel]

I don't think you guys need to worry too much about missing out redeeming yesterday or today... I think the likeliness of any suppliers honouring the past week's of redemptions is low. So I don't think many of us that started mid last week have made the cut unfortunately.

 

[jonboixxx]

May have been already mentioned, onsport.com.au have suspended Velocity redemptions.

 

[mooki24]

Well, managed to get through to checkout only to keep getting bounced out.

I sat on this over the weekend so I guess I only have myself to blame.

Managed to order an iphone last week but no idea if it'll arrive.

The site isn't working for me at the moment either. I hope you manage to get some purchases through.

 

[Cryptarcadian]

For any redemptions that aren't honoured by merchants, I hope the points will go back into Velocity accounts for the time being — in case Velocity actually survives at the end of all this. (I fear they may be lost in limbo.)

Today I actually asked Harvey Norman to try and cancel a redemption I placed last week. Crazy I know. No idea what will happen to it at this point.

But the rationale (which I finally came around to) was the same logic @Mr H, @coolkid101 and others have mentioned and was also in the AFF podcast. The all or nothing gamble is more worthwhile than crystalising the loss on a phone, watch, toaster or vacuum that I don't even need.

 

[ols]

Wine store down and maybe out

Velocity Wine Store by Laithwaites | Welcome to your favourite new wine store

Buy wine and earn Velocity Frequent Flyer points or get wine with your Velocity Frequent Flyer points, all your favourite wines and spirits in one online store.

www.velocitywinestore.com.au

 

[deebens]

Just went to work, where I'd sent all my orders. First one arrived today from the 7th. That was already marked shipped. Poppink

Have two others from the 7th and 9th. One from the 7th is still processing, saying half has shipped (Poppink and HN). The one from the 9th still pending from JB.

 

[djfuzz]

Managed to order an iphone last week but no idea if it'll arrive.

The site isn't working for me at the moment either. I hope you manage to get some purchases through.

Thanks - I finally got confirmation for an iPad (that I don't need). I think Lomandriel's right, it's a gamble. Fingers crossed.

I have a small amount of points left in the unlikely scenario they may be good for flights again some day. Might splurge on a J return to SYD for the day lol.

 

[tomlee1986]

Have they pulled the Velocity Store? I'm getting "504 Gateway Time-Out" when I try to log in...

I cant get in either.. I think its gone

 

[footy99]

I'm in, but every new page is real slow and crashes regularly.

 

[tomlee1986]

I'm in, but every new page is real slow and crashes regularly.

If you can claim anything.. I would advise so as this airline is not looking good..

 

[Lomandriel]

For any redemptions that aren't honoured by merchants, I hope the points will go back into Velocity accounts for the time being — in case Velocity actually survives at the end of all this. (I fear they may be lost in limbo.)

Today I actually asked Harvey Norman to try and cancel a redemption I placed last week. Crazy I know. No idea what will happen to it at this point.

But the rationale (which I finally came around to) was the same logic @Mr H, @coolkid101 and others have mentioned and was also in the AFF podcast. The all or nothing gamble is more worthwhile than crystalising the loss on a phone, watch, toaster or vacuum that I don't even need.

I doubt you need to worry about getting your points back. If they don't honour the redemptions there is absolutely 0 reason they can hold onto points and not refund them. It just doesn't make logical sense. Whether we can 'easily' get the points refunded amongst all the chaos is another matter.

Either way I'd rather leave my orders in and see if they get through.It makes sense as the only reason you'd cancel is if you actually want to roll the dice on leaving velocity points if they survive. Otherwise you can test to see if you get the items, if not you'll still end up with the refunded points "eventually" , which if they don't survive will be useless and so redeeming or not you end up at the same end game.