Maximise your Avios, air miles and hotel points

As the tax year ends, don’t forget 6,000 Virgin miles for opening an ISA

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With just a month to go until the tax year ends, it is worth remembering – if you haven’t used up your ISA allowance for the year – that Virgin Money is currently offering 6,000 Flying Club miles to anyone who open a new FTSE Tracker ISA.

See here for full details.

Based on previous experience, if you open a Virgin ISA in this tax year, you should receive another bonus if you open another one after 6th April for the 2016/17 tax year.

Virgin Money

There are two ways to invest. You can either invest a lump sum of £1,000, or make a £75 monthly investment for at least six months. In either case, you must leave the account open for six months or the miles may be clawed back.

Now, this is obviously an investment and so could lead to the loss of your capital.

The less risky option is £75 x 6 months = £450 invested. If you valued the miles at £60, you would still come out on top with a 10% fall in the market by the time you exit.  However, this means that your investment will cross into two tax years.

The £1,000 lump sum investment is clearly riskier – the value of the miles is wiped out with just a 6% fall in the market.

You cannot open this ISA if you already have a ‘stocks and shares’ ISA for the current tax year. You can open one if you only have a ‘cash’ ISA for the current tax year and have not invested your full £15,240.

As always with financial issues, take proper advice if necessary.

In general, the miles post VERY quickly, often within a week.

How to earn Virgin Points from UK credit cards

How to earn Virgin Points from UK credit cards (December 2023)

As a reminder, there are various ways of earning Virgin Points from UK credit cards.  Many cards also have generous sign-up bonuses.

You can choose from two official Virgin Atlantic credit cards (apply here, the Reward+ card has a bonus of 15,000 Virgin Points):

Virgin Atlantic Reward+ Mastercard

15,000 bonus points and 1.5 points for every £1 you spend Read our full review

Virgin Atlantic Reward Mastercard

A generous earning rate for a free card at 0.75 points per £1 Read our full review

You can also earn Virgin Points from various American Express cards – and these have sign-up bonuses too.

American Express Preferred Rewards Gold is FREE for a year and comes with 20,000 Membership Rewards points, which convert into 20,000 Virgin Points.

SPECIAL OFFER: Until 9th January 2024, you will receive 30,000 Membership Rewards points (convertible to 30,000 Avios) with American Express Preferred Rewards Gold. You receive 25,000 points if you spend £3,000 in three months and a further 5,000 points if you hold the card for 15 months. You can apply here.

American Express Preferred Rewards Gold

Your best beginner’s card – 30,000 points (TO 9th JANUARY), FREE for a year & four airport ….. Read our full review

The Platinum Card from American Express comes with 30,000 Membership Rewards points, which convert into 30,000 Virgin Points.

SPECIAL OFFER: Until 9th January 2024, you will receive a huge 100,000 Membership Rewards points (convertible to 100,000 Avios) with The Platinum Card. You receive 75,000 points if you spend £10,000 in six months and a further 25,000 points if you hold the card for 15 months. You can apply here.

The Platinum Card from American Express

Crazy 100,000 points (TO 9th JANUARY) and a huge range of valuable benefits – for a fee Read our full review

Small business owners should consider the two American Express Business cards. Points convert at 1:1 into Virgin Points.

American Express Business Platinum

40,000 points bonus and an annual £200 Amex Travel credit Read our full review

American Express Business Gold

20,000 points sign-up bonus and free for a year Read our full review

Click here to read our detailed summary of all UK credit cards which earn Virgin Points

(Want to earn more Virgin Points?  Click here to see our recent articles on Virgin Atlantic and Flying Club and click here for our home page with the latest news on earning and spending other airline and hotel points.)

Comments (36)

This article is closed to new comments. Feel free to ask your question in the HfP forums.

  • harry says:

    OT T**** moggy ins

    Somebody I know got the points & cancelled the contract, the first month’s payment has been refunded (without being requested) and the points are still there (for now, I guess we’ll see).

    • Oyster says:

      How are people cancelling?
      Just deleting the DD or phoning up?

  • CV3V says:

    The best return i have had out the Virgin ISA is the free coffee and biscuits in the Virgin Lounge.

    • CV3V says:

      i hasten to point out, Virgin Money lounge 🙂

      • Rob says:

        I still use the Piccadilly one for the odd bit of HFP work now and then.

        • CV3V says:

          I have been to the ones in London, the lounges in Glasgow and Edinburgh are much better. The Edinburgh is an old victorian building on St Andrew Square and is very grand. The Glasgow lounge is over 2 levels and includes a small cinema which shows films and sport.

  • AndyS says:

    Is there any benefit (as in flying miles) for a safer cash ISA ?

  • Jonathan says:

    Ironically my statement from Virgin Money has arrived this morning. 6x£75 investments and 5000 points later i’m £22.12 down on my capital. Or put another way, the points cost 0.004p each so not the worst investment I’ve ever made. I don’t need the £400 odd so will leave it in for the next 12-18 months or so and the points will cost me nothing eventually (if I can wait that long).

  • dps says:

    If the typical VS UC “J” fare LHR-JFK-LHR is £1,600 net of £500+ taxes etc, then surely 6,000 FC Miles (7.5%.of the 80,000 VS asks for a redemption seat) are worth £120; so, even with the 1.8% management charges, the FTSE would have to fall 10.2% for a £1,000 investment to to turn sour.

  • Deenesh says:

    can any Virgin Money customers who have had the miles bonus more than once please confirm. I’m currently wrangling with them as they are refusing to pay me miles after opening a new SS ISA as they say I was already a customer. Thanks.

  • Louise says:

    I have just checked mine and my husbands ISAs online and from what i can see you cannot withdraw the latest deposit until after 10 days of it being in the ISA, so i have a few days to go.

    My two ISAs are valued at £453(Bond & Gilt) and £451(Bond,Gilt & UK Share)

    There appears to be a withdrawal function on the online account.

This article is closed to new comments. Feel free to ask your question in the HfP forums.

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