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Are you a fan of billionaire Richard Branson and the expansive list of businesses associated with his Virgin brand?
If so, the new Virgin Red Rewards Mastercard® may grab your attention.
The soon-to-launch rewards credit card , which will be backed by Synchrony Bank, is a collaboration between Virgin Red and travel brands Virgin Atlantic, Virgin Hotels and Virgin Voyages.
It is designed to reward your spending both inside and outside the Virgin travel ecosystem.
“We’re thrilled to partner with Virgin’s brilliant travel companies to offer our US members the chance to turn the dollars they spend every day into Virgin Points,” Virgin Red Chief Loyalty Officer Andrea Burchett said via press release. “The Virgin Red Rewards Card will be the first of its kind in the industry to span flights, cruises and hotels– it’s your passport to more flights across the Atlantic, more Voyaging around Caribbean hotspots and more Bellinis at The Pool Club.”
The card is expected to launch in Fall 2024. You cannot apply just yet, but there is a waiting list you can join.
Let’s take a look at what we know about the card so far.
Virgin Red Rewards Mastercard®: What We Know So Far
Let's start with the annual fee. This card will cost users $99 per year.
What does that fee get you? Well, actually quite a bit for people who frequently use the Virgin travel brands.
Here's a look at the bonus spending categories, welcome bonus offer and additional perks.
Spending Rewards Tiers
Spending with this card will be rewarded in Virgin Points, which can be used for redemption on travel with one of the Virgin brands.
Predictably, there are multipliers for spending with a Virgin brand. But there are also multipliers for some everyday spending categories. Here’s the breakdown:
Welcome Bonus Offer
Bonus of 40,000 Virgin Points when you spend $3,000 on your card in the first 90 days.
Virgin is touting this as enough points to book two round-trip tickets to the United Kingdom via Virgin Atlantic. Obviously, you’ll need to check the redemption value for the dates of your travel itinerary to see if that actually holds true in your circumstance.
Personal Perks
If you get deep into the Virgin ecosystem, this card is ready to reward you with what they’re terming “Personal Perks.”
Spend $15,000 in a cardholder year to choose one or $30,000 to choose a total of two:
- Virgin Atlantic: Flying Club reward voucher for a companion seat or cabin upgrade
- Virgin Hotels: One free night stay or hotel suite upgrade
- Virgin Voyages : Up to $300 Bar Tab credit or Blue Extras perks package
These are nice perks, but may be aspirational for those who do not have high-volume spending habits with the card. For example, you’d need to average spending at least $2,500 per month with the card for a whole year to claim two Personal Perks.
Virgin indicates that there are more benefits to be revealed closer to the card launch, so there’s the possibility that we find more value in this card by the time it opens the application process to consumers.
Does this card pique your interest? Or are you going to go with a different travel credit card instead? We’d love to hear your thoughts in the Clark.com community .
This article was originally published on Clark.com
The post Virgin Red Unveils Details on New Rewards Credit Card appeared first on Clark Howard .
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