A Virgin Red Rewards Virgin’s Quickie to the Credit Card and Program

Virgin Red Rewards

During a recent apporama, my wife and I each picked up the new Virgin Red Rewards Mastercard issued by Synchrony.  Virgin’s loyalty program isn’t something we’ve historically focused on much, and we never bothered with previous versions of their cards.  But this new product, and more specifically its issuance by Synchrony, pulled us in.  Today, I’m reviewing what made this card worth our pursuit, even after reconciling the Red Rewards program’s quirks.

Virgin Red Rewards Mastercard Highlights

Welcome Offer, Earning Structure, and Ongoing Benefits

New cardholders can earn 40k Virgin Red points by spending $3k within the first 90 days.  The card’s earning structure breaks down as follows:

• 3x Virgin points on purchases with Virgin Atlantic, Virgin Hotels and Virgin Voyages.
• 2x Virgin points on dining, grocery stores, select streaming services and EV charging.
• 1x Virgin points on all other purchases.

Of course, we’re focusing on the 2x categories, grocery stores and dining, specifically to meet our $3k SUB thresholds.  These are the annual benefits one receives by simply holding the card:

• 5,000 Virgin Points upon renewal of your card
• Third night free after booking two nights at a participating Virgin Hotel once a year

Big Spend Bonus Opportunities

But with varying levels of spending, cardholders can reach different bonuses.  Let’s first cover elite status.  A cardholder can earn 25 Virgin Atlantic Flying Club Tier Points for every $2.5k spent (maximum 50 Tier Points monthly).  That’s up to 600 Tier Points annually, but it’s not necessarily worth doing (more on that later).

After spending $15k and $30k in a cardholder year, an individual can select one of the following at each threshold (see the full terms here):

• Flying Club Reward Voucher from Virgin Atlantic – Companion Seat or a Cabin Upgrade
• Virgin Hotels 1 Free Hotel Night Stay
• Virgin Hotels Priority Room Upgrade
• Virgin Voyages Bar Tab Credit (Up to $300 Value)
• Virgin Voyages Blue Extras Perk Package

The Virgin Red Rewards Loyalty Program – Quick Hits

Like other card products, this new one provides a varying level of benefits based on an individual’s specific situation.  But prior to us deciding to apply, we reviewed how the Virgin Red program works.

I quickly noticed that the Virgin Red program only allows redemptions to a subset of their services.  For instance, not all Virgin hotels are available for award stays.  As of this writing, Dallas is the only domestic property (out of six total) available for an award stay with Virgin Red Rewards points (the Vegas location can be booked with Hilton currency).  Plenty of aspirational international options exist, though, at unsurprisingly-high rates.  The Eurostar voucher option seems promising until one sees the return (0.5 cents per point).  Cruises are still a solid redemption for many.  Virgin Red offers a variety of options unrelated to travel and other “experiences.”   Kudos to the program for mixing things up a bit here, even if they don’t all apply to our situation.

But redemptions can come with substantially more red tape.  Many rewards come in the form of vouchers, where a member will have to correspond with Virgin rep(s) to confirm bookings.  And vouchers often come with expiration dates.  Possibly more concerning, there may be no going back after redeeming points for a voucher.  I saw no obvious method to cancelling an unused voucher for points redeposit.

Perhaps the “safest” redemption option that most are familiar with are flights with Virgin Atlantic or its partners.  But as many know, that’s a different talk show with Virgin – insert devaluation and tax/fee talk here.

Why We Applied and Our Plans

My wife and I saw enough in the program and the card issuer to make it worth us each pursuing the Virgin Red Rewards Mastercard.  We are each currently spending for the welcome offer points (of course) and plan to go beyond for the $15k and $30k big spend bonuses.  Importantly, all of this spend is (and will be) in the 2x categories.

But what about spending toward elite status?  That’s a more nuanced pursuit.  Virgin Atlantic Flying Club Silver status, the first step after base Virgin Red level, requires 400 Tier Points.  But benefits are relatively minimal.  That said, we’ll each be at 300 Tier Points by going for the above big spend bonuses, anyway.  Will it be worth another $10k spend for Silver?  For my wife, no.  Me?  I’m not sure – ask me in six months or so.  Right now, I’m leaning no.

What about going beyond 400 Tier Points, maybe all the way to the maximum 600 one could theoretically earn with the card?  That only makes sense for individuals with enough paid flights to help them get to the 1,000 Tier Points for Gold status – and, most importantly, that’s only if Gold status matters to them.

Conclusion

The Virgin Red Rewards loyalty program and its credit card are certainly niche.  They’re not for everyone.  But we opted into the wackiness for the solid-enough rewards and fun challenge along the way.  At this point, I’m optimistically looking at the card as a keeper, even without retention offers.  The 5k points make that $99 annual fee sting a bit less.  But other options can change which may affect our long-term plans with these cards.  So much can happen in our hobby, including plenty we can’t even fathom.  We’ll see what’s next.

Have you picked up the Virgin Red Rewards Mastercard?  Why or why not?

Disclosure: Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.

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