Just got a velocity a few hours ago...

[aUsername]

I ordered it brand new from YYN. It had some chips in the rims, most likely from shipping. I threw a few sleepers and it worked fine... until around 2 minutes later. I tried turning the dials... Nothing happened. I googled for info and most sites said to take apart the yoyo and loosen the screws after putting it back together. I did. The dials still couldn't turn. People also said to use something to insert into the dial holes as a bit of leverage, and I stupidly used my small screwdriver. Nothing happened, but I scratched it a little.

Later the bearing became really loud. Right out of the box it was pretty loud, but now it's even worse, it makes grinding noises no matter how slow it's turning. Sometimes it sounds exactly like nails on a blackboard. I guess I could clean it though. Now it's also unresponsive, but binds are pretty much impossible, the string just falls out of the gap. Out of the box it binded fine. (Yeah, I often bind responsive yoyos. And the binding thing might be because I suck at it, but that issue has never happened before with any other yoyo)

To make it even worse, there's a noise even worse than the bearing that comes from the response pads when I move the yoyo during tricks.

I doubt I can return it since I scratched it and took the velocity stickers off, but there's a tiny glimmer of hope since it already had cosmetic defects. Do I have a chance?

And is there anything I can do to turn the dials? If I can, I'll probably get around to cleaning the bearing and it might be almost as good as a normal velocity

[Jacob Deffenbaugh]

The bearing may need a clean, but it may also just be needing some oil.  Give both a try.

As for the dials... keep the screws loose, get a strong pointy object, and make sure you are turning to the right (as if you were going to tighten a screw).  This will reduce the space between the response pads, and make binds less fall out less.

-Jacob

[Graiskye]

This will reduce the space between the response pads, and make binds less fall out less.

-Jacob

I think what Jacob is trying to say is it will make binding easier, the smaller the gap is between the pads.
 Sounds like you got a lemon for a yoyo, but you went and took stickers off and have been trying to fix it, frustrating I am sure, but I think your chances for a return are pretty slim, BUT it could not hurt anything to TRY.
 Contact the store you got it from, this is supposed to be the best beginner yoyo out there, or one of em, and having to deal with cleaning the bearing on your first day is not too beginner friendly, so see what the store you got it from has to say, you should be able to easily adjust the gap, thats what the yoyo is supposed to do ?
 Good luck, and be patient....good things sometimes are worth the wait.
-G.