Pre-covid, Virgin Money ran a series of points offers for opening an ISA. Things have been very quiet since 2019 but the deals are now back. The latest iteration is currently winding up.
Virgin Money is offering 8,000 Virgin Points for anyone who opens a Stocks & Shares ISA. It is also valid on general Investment Accounts, which are outside the tax-free ISA wrapper.
The offer is ending soon – it runs until 30th June.
It is important to note that Nutmeg has just launched a new Avios offer for pension and ISA transfers which we cover here. Compare both deals.
Here are the rules:
- you must open your Stocks & Shares ISA by 30th June
- you must invest at least £5,000 by that date OR submit a transfer application from your current provider by 30th June (transfer must complete by 30th September)
- you must keep your £5,000 in place until 31st July
- you will be emailed a promo code for your 8,000 Virgin Points which you need to activate via the Virgin Red app
- you can open both an Investment Account and a ‘Stocks & Shares’ ISA and receive the bonus twice, for a total of 16,000 Virgin Points
There is no longer a clawback rule, probably because of the way the points are awarded via a promo code. When these offers ran five years ago you would lose the miles if you closed your ISA within a year – this is no longer the case. In theory you could take your money out after 1st August as soon as you receive your 8,000 Virgin Points code.
There is no rule saying that, if you earned a similar bonus pre-covid, you cannot get it again.
This is obviously an investment and so could lead to the loss of your capital.
As always with financial issues, take proper advice if necessary.
If you want to earn more Virgin Points, our review of the Virgin Atlantic Reward+ Mastercard credit card is here (15,000 bonus points) and our review of the free Virgin Atlantic Reward Mastercard credit card is here.
We will look at the new Avios / Nutmeg offer tomorrow (EDIT: click here for the article).
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):
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.
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.
Small business owners should consider the two American Express Business cards. Points convert at 1:1 into 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.)