LAST CHANCE: 12,000 Virgin Flying Club miles for opening an ISA

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Here is a reminder that you have just 48 hours left to take advantage of this very generous deal from Virgin Money.

With the new tax year now underway, Virgin Money is offering an impressive 12,000 Flying Club miles to anyone who opens a new stocks and shares ISA.

See here for full details.

This is a VERY attractive offer given that the usual deal is just 5,000 or 6,000 miles.  The offer runs until 26th June, ie Sunday.

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.

There are six different investment funds to choose from.

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 £120, you would still come out on top with a 20% fall in the market by the time you exit.

The £1,000 lump sum investment is clearly riskier – the value of the miles is wiped out with just a 12% 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.

There is an additional upside to having a Virgin Money product – you are able to use the Virgin Money lounges in London and various other cities across the UK.  They are surprisingly pleasant and you will occasionally finding me working in the Piccadilly Virgin Money lounge which I reviewed here.

(Want to earn more Virgin Flying Club miles?  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.)

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Comments

  1. Genghis says:

    Signed up to Virgin Money lounges online and visited the Virgin Lounge on Haymarket, London earlier this afternoon. It’s a decent space with good coffee, average cold drinks and biscuits. Toilets were decent. I’d pop in again for a coffee.

    • Not been there. Piccadilly probably nicer as standalone, ie not part of a branch, so more like an airport lounge.

  2. Has anyone who signed up on Sunday got their miles yet?

    • Chris says:

      I’ve got my miles today but I’ve only got given 6000 instead of the advertised 12000. After 20 minutes on the phone trying to explain this I am still no further along.

      • Oh. I will keep an eye out on when mine post. Reading that people got theirs in 2 days I was disappointed that it’s been 5 days and probably won’t post till next week as it’s the weekend now. Hope you manage to get the remaining half.

      • Chris says:

        Just an update. After posting on Virgin’s Facebook page the extra miles appeared!!

  3. Peter Taysum says:

    12 000 miles posted

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