Virgin Atlantic Card Up to 90,0000 (actually 75,000) Bonus Miles Limited Time by Sep 7, 2014

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Today, I received a Virgin Atlantic card Up to 90,000 Flying Club bonus miles promotion with expire date on September 7, 2014, via email.  Interestingly, Isa also received a separate Virgin Atlantic email promotion but for 60,000 bonus miles promotion and $100 statement credit for global entry.  The 90,000 bonus miles offer sounds more attractive.  Is Virgin Atlantic out of their mind?

The application link is:

Or, call 1-800-932-2775, and mention priority code VAB858

Bonus requirements are:

  • Spend $12,000 in the first 6 months, or an average $2,000 per month.
  • 2,500 bonus miles for one additional cardholder, or 5000 miles for two.
  • $90 non-waive-able annual card membership fee
  • The last bonus 15,000 miles requires $25,000 annual spending.  Just forget it.
  • "This one-time promotion is limited to new customers opening an account in response to this offer".  Honestly, I do not know if this means former card holder is eligible for this bonus.  If you are unsure, best to call 1-800-932-2775, mention VAB858, to find out.

Is this card worth applying?

Opportunity costs: Suppose I applied this card with two additional cardholders, and spent $12,000 in the first 6 months. 
  • Pay $90 fee, and I will earn 20k + 50k + 5k = 75,000 bonus miles + (1.5 miles)*$12,000 -> 93,000 miles 
  • Or, 93,000 Virgin Atlantic Flying Club miles can be converted to become, via 2:3 ratio (no longer 1:2 ratio), Hilton HHonors points, or 139,500 Hilton HHonors points.  
  • If a Hilton hotel night requires $150 or 35,000 HH points (e.g. Hilton Santa Cruz/Scott Valley), the fifth night stay would be free. Thus, five free hotel nights would save $750.
  • Or, I could have spend $12,000 in Staples with my Chase Ink card to earn 60,000 UR points which can be deposited into Singapore Airlines Business/First Class Suite.
Time to redeem: My past lessons teach me.  Unless I use the miles/points soon, or know the timeline with certainty, don't sweat much to earn frequent miles or points via cards, because miles/points can be devaluated anytime.  In our case, we have United miles and Hilton HHonors points to burn.

Therefore, this card is not a good fit for Isa or me.

Who should apply this card?

I would recommend to those

  • who is frequent flyer with Virgin Atlantic to Europe, this card may help you accumulate 3x miles very quickly.
  • or who would need 140k Hilton HHonors points after 6 months to redeem Hilton hotel stays.  May as well apply Citi Hilton Visa card at the same time to collect another 60,000 Hilton HHonors points.

I expect to hear other attractive credit card promotions during the Fall season.

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