With VA looking on shaky ground due to this Covid-19 stuff, is it worth transferring our points to Kris Flyer now, whilst we still can? What are the disadvantages? Do the expire with Krisflyer if not used, or is it like Velocity where if I accrue (or transfer) more points later, the old ones stay live?
I personally have not done anything with my Velocity points balance yet. I prefer to wait it out until I see very clear signs the airline is about to go bust. If you transfer now, the disadvantage is you’ll lose about 35% of your points balance when you transfer at the current 1.55:1 ratio. Plus, Krisflyer miles have a hard expiry of 3 years meaning from the date you transfer, you have three years to use it. You cannot extend its expiration date. If you don’t use all of it, it will be gone.
I would just add, please do your own research and risk management, as you are ultimately the one to make the call. There is no one else to blame for your choices.
In very rough terms:
Option 1. Keep it all in Velocity, if the program survive, great. If program dies, all your points die with it.
Option 2. Transfer all to Krisflyer, lose 35% or 100% if unused in 3 years. Awful if Velocity program survives. Great move if Velocity program dies. Awful if Krisflyer dies (my bet is Singapore wouldn’t let it fail).
Option 3. Transfer a portion to Krisflyer to hedge your risk. If your balance is not big enough to be meaningful in portions (for redemptions), better to keep them all together.
There might be more creative ideas out there. Take a pick and pray for the best.
Option 4: Get all your points out. Redeem a product and/or gift card from the store. Not great value but better than getting nothing.
Surely Krisflyer is a better value option than that - depending on the number of points and if a flight can be redeemed?
This is pure speculation - but to assist with their return to financial viability I am expecting many airlines will push through a points devaluation
The flip side of that is when they start flying again they may have seats to fill.