Reports are appearing of upcoming changes to Velocity.

If you earn your points from flying then buckle up for a savage "enhancement".

If accurate, the cited earn rates are going down by 20% regardless of status tier. And the international biz redemption rates are going up by 14% (running the numbers for the current 139,000 tier).

What credit card peddling blogs never do is look at the net return (take into account both earn and burn). In this case, the net impact is a devaluation of 42.53% for those who earn their Velocity points from flying and redeem onto long haul biz.

Grab the popcorn.