I’m not sure if this was a great idea, but I signed up for the Virgin Red Rewards Mastercard. It’s the first card to combine benefits from an airline, cruise line and hotel chain, while offering bonus spending categories and perks with brands under the Virgin umbrella. Since we’re fans of Virgin Voyages, have several cruises planned in the next year, and have points with Virgin Atlantic, I decided to take the plunge and be one of the first to sign up for the card shortly after it launched.
We’ve known the details about the card issued by Synchrony Bank for a while.
Cardholders will earn three points per dollar on purchases with:
- Virgin Atlantic
- Virgin Hotels
- Virgin Voyages
In addition, the card will give two points per dollar at:
- Dining
- Grocery stores
- Select streaming services
- EV charging
Anything else charged to the card will earn 1 Virgin Point per dollar spent.
Additional Perks
There are spending thresholds of $15,000 and another at $30,000. Upon reaching these spending milestones, cardholders can select from a list of six Virgin perks as a reward. Additionally, it’s worth noting that cardholders can choose the same award twice if they so desire.
- Flying Club reward voucher for a companion seat or a cabin upgrade on Virgin Atlantic.
- One free hotel night stay at a participating Virgin Hotel.
- One suite upgrade at a participating Virgin Hotel.
- Up to $300 bar tab with Virgin Voyages.
- Blue Extras Perk Package with Virgin Voyages – includes laundry service, exclusive cocktail party, and daily coffee credits.
Additional Card Benefits
- 5,000 Virgin Point anniversary bonus each year
- 2,500 for adding additional cardholders (up to 4 users)
- 25 Virgin Flying Club Tier Points for each $2,500 in eligible purchases (max 50 Tier Points per month)
- Third night free after booking two nights at a participating Virgin Hotel (once per year)
I’ve never dealt with Synchrony Bank before, so I read the fine print on the application closer than usual when applying for a card from Chase or AMEX. I’m unsure if these are red flags, but I will keep my eye on this card closer than my other accounts.
Red Flags When Applying For The Virgin Red Mastercard?
The application states that prospective applicants must remove any credit freezes before applying. They don’t mention which credit agency they use, so I assume Synchrony wants you to remove all credit freezes. Freezing your credit reports is necessary if you’ve had a problem with a stolen identity or don’t want banks to access your credit, possibly to keep them from seeing how many credit cards you’ve opened recently.
All banks require you to remove a credit freeze when applying for a new credit card. This requirement is not unique to Synchrony Bank or the Virgin Red card. However, it was the first time I’d seen it so prominently mentioned in an application.
It wasn’t until I read the fine print that I noticed Synchrony Bank charges a $1.99 monthly fee to send a paper statement, and cardholders need to opt out of these statements to avoid the fee after 2 months.
At this point, I was already too deep in to back out, so I now have a Virgin Red Rewards Mastercard. I’m looking forward to receiving the card and the accompanying information so I can see the final breakdown of the card benefits.
Final Thoughts
I must admit that I was intrigued by a card associated with an airline, cruise line and hotel. Will they do any future promotions with any or all of their partners? I also want to see if spending $15,000 on this card would provide more benefits than spending the same on the Hilton Surpass AMEX or the World of Hyatt Visa.
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