Virgin Atlantic is removing the sign-up bonus from its free Virgin Reward credit card on Tuesday
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Virgin Atlantic is removing the sign-up bonus from its free credit card on Tuesday.
This is your last chance (at least for now) to earn 5,000 miles on the ‘no annual fee’ Virgin Money-issued Virgin Atlantic Flying Club Reward credit card.
The paid card will retain its 15,000 mile bonus.
You can apply here. You must apply by midnight on Monday to be sure of getting the bonus.
Why is Virgin Atlantic removing its sign-up bonus?
It’s not clear. However, Virgin Money – issuer of the credit cards – is making a raft of changes across its entire credit card range. I am guessing that Virgin Money is trying to put off new customers whilst it attempts to handle requests for payment deferrals etc from its existing base.
If you want to apply for the cards and earn the bonus, you need to do it now. Remember that there is NO spend target to earn the bonus.
What are the sign-up bonuses?
The bonuses are:
you will earn 5,000 miles (zero miles from Tuesday) on the FREE Virgin Atlantic Reward credit card
you will earn 15,000 miles if you take out the Virgin Atlantic Reward+ credit card which has a £160 fee
There is no spend target to hit. You receive the bonus after your first purchase.
If you apply today, you have two choices – 5,000 Flying Club miles for free on the ‘no fee’ card plus 0.75 miles per £1 going forward, or 15,000 Flying Club miles for £160 on the paid card plus an exceptionally high 1.5 miles per £1 going forward. It is up to you.
Your decision may be impacted by how good you think the chances are of Virgin Atlantic emerging in one piece from coronavirus. The situation is currently looking better, with Sir Richard Branson raising $400 million from his Virgin Galactic holdings to prop up his other ventures and talks progressing with new third party investors. The free card is clearly the no-risk option whilst going for the 15,000 miles sign-up bonus involves paying £160 upfront. It is very likely that you would receive a pro-rata fee refund if the airline went into receivership, however, as the FCA would take a dim view otherwise.
Here are the details:
The free card:
The free Virgin Atlantic Reward credit card is a Mastercard which earns 0.75 miles per £1 spent. The representative APR is 22.9% variable.
New sign-ups to the Virgin Atlantic Reward Credit Card will earn 5,000 miles for the first purchase made on the card in the first 90 days.
5,000 Virgin Flying Club miles are worth around £50 if redeemed for long-haul premium flights. This bonus is removed on Tuesday.
The paid card:
The £160 Virgin Atlantic Reward+ credit card is a Mastercard which earns 1.5 miles per £1 spent. The representative APR is 63.9% variable including the £160 fee based on a notional £1200 credit limit. The interest rate on purchases is 22.9% variable.
If you take out the Virgin Atlantic Reward+ credit card you will earn 15,000 miles with the first purchase made on the card in the first 90 days.
You are receiving 15,000 Virgin Flying Club miles which are worth around £150 if redeemed for long-haul premium flights. This bonus is NOT going away.
The Reward+ card remains the better deal in my view. Whilst the free card has the more attractive bonus (5,000 miles for free vs 15,000 miles for £160), once you have the Reward+ card you are earning the superior 1.5 miles per £1 whenever you shop. You also trigger the upgrade and companion vouchers more quickly
In terms of eligibility, the application form asks you to confirm:
“I am not an existing Virgin Atlantic Credit Card customer and I have not closed another credit card issued by Virgin Money in the last 6 months.”
This implies that you CAN apply again if you previously closed one of the Virgin Atlantic cards over six months ago, but that you cannot apply for a 2nd card if you already have one.
How do the upgrade and companion vouchers work?
Each year you can earn a special extra reward. Your reward is triggered IMMEDIATELY upon hitting the spending target. The target is £20,000 in a card year for the free Virgin Atlantic Reward credit card and £10,000 in a card year for the £160 Virgin Atlantic Reward+ credit card.
Unlike the British Airways American Express cards, the rewards vary depending on your tier in the Virgin Flying Club scheme. If you have elite status, you get a better reward.
This is what you can pick from:
All Flying Club members
A 2-4-1 voucher, valid for two years, for a Virgin Flying Club redemption in Economy, or
A return upgrade to Premium when you book an Economy reward flight (requires reward availability in Premium)
Flying Club members with Silver status
A 2-4-1 voucher, valid for two years, for a Virgin Flying Club redemption in Premium or Economy, or
A Virgin Clubhouse lounge pass for Heathrow or Gatwick (requires a same-day Virgin Atlantic flight), or
A return upgrade to Premium when you book an Economy reward flight (requires reward availability in Premium)
Flying Club members with Gold status
A 2-4-1 voucher, valid for two years, for a Virgin Flying Club redemption in Upper Class, Premium or Economy
TWO Virgin Clubhouse lounge passes for Heathrow or Gatwick (require same-day Virgin Atlantic flights)
A return upgrade to Premium when you book an Economy reward flight (requires reward availability in Premium)
Taxes and charges are due on ‘free’ 241 seats in the same way as the British Airways American Express 241 vouchers. Vouchers are valid for two years and you must fly the outbound leg of your trip before the expiry date.
Some tips on applying
Do NOT use the ‘pre-approval checker’ on the Virgin Money website. It is a joke. It is designed for Virgin Money’s mass-market cards and is likely to reject you for being too wealthy and so unlikely to pay interest. Apply directly.
If your full application is rejected, this can often be overturned if you appeal in writing. Write to Virgin Money at Jubilee House, Gosforth, Newcastle upon Tyne, NE3 4PL with a couple of paragraphs expressing your dismay, referencing your Virgin Atlantic status and outlining your income and lack of non-mortgage debts. They will reconsider and you will normally end up being successful.
Conclusion
It is worth having a look at the bonus on the free card before it is removed. You get 5,000 Virgin Flying Club miles for making just one purchase on the card, even a coffee, which is a good return.
If you were thinking about getting the paid card at some point, there is no rush. The bonus on the paid card is not going away
You can apply for either of the new Virgin Atlantic credit cards via this link. You need to apply by Monday evening to get the bonus on the free card.
Click for an article which will help you decide which of the two Virgin Atlantic credit cards is best for you.
How to earn Virgin Points from UK credit cards (April 2024)
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 18,000 Virgin Points and the free card has a bonus of 3,000 Virgin Points):
Virgin Atlantic Reward+ Mastercard
18,000 bonus points and 1.5 points for every £1 you spend Read our full review
Virgin Atlantic Reward Mastercard
3,000 bonus points, no fee and 1 point for every £1 you spend 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.
American Express Preferred Rewards Gold
Your best beginner’s card – 20,000 points, FREE for a year & four airport lounge passes Read our full review
The Platinum Card from American Express comes with 40,000 Membership Rewards points, which convert into 40,000 Virgin Points.
The Platinum Card from American Express
40,000 bonus points 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 sign-up 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.)
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