Virgin Money Rewards

Virgin Money Rewards is a flexible loyalty program from Virgin Money that comes with certain banking products offered by Virgin Money.
What makes the Virgin Money Rewards program interesting is the fact that you can transfer your Virgin Money Rewards Points to a variety of airline partners.

Virgin Money Rewards Points are all managed via a mobile app.

How to Earn Virgin Money Rewards

To start earning Virgin Money Rewards, you can open a variety of banking products from Virgin Money that are enrolled in the program. The easiest option is the Virgin Money Go Account, a free bank account and debit card. Right now, you can even get 5,000 bonus Virgin Money Rewards Points when you open an account and make just one transaction in the first 30 days. You can also bundle this account with a Virgin Money Boost Saver bank account, which currently offers 5.35% interest on your savings.

Other products that earn Virgin Money Rewards Points include the Virgin Money Anytime Rewards Credit Card, which earns 1 Virgin Money Point for every $1 you spend on the card and usually comes with a generous sign-up bonus. At Flight Hacks, we’d consider this an entry-level card with a relatively low annual fee ($149) and a below-average earn rate. Other credit cards that earn Virgin Money Rewards include the Virgin Money No Annual Fee Credit Card and the Low Rate Credit Card.

Earn Virgin Money Points: Everyday Spending

One of the key benefits of the Virgin Money Go Account is the ability to earn points through everyday transactions. As it stands, account holders are rewarded with 8 Virgin Money Points per transaction. There’s no minimum transaction amount and no monthly points cap, so no doubt, some of you will get creative ideas after reading this (anyone else getting Bankwest Debit Card flashbacks?). Eligible transactions include BPAY, purchases made with your card, and direct debits.

Earn Virgin Money Points: Bonus Partners

Virgin Money Rewards members can also boost their points balance by spending with any of the 60+ partner brands Virgin Money works with. These offers range from bonus points to increased earn rates on every dollar spent. For example, you can shop with Pet Circle and receive 20 points per $1 or earn 20,000 bonus points when signing up with OVO Energy.

Earn Virgin Money Points: Hotel Bookings

Another way to boost your points balance is by booking hotels via the Virgin Money app, which will earn you 5 points per $1 spent. Keep in mind that Qantas Hotels often runs promotions where you can earn more than 9 points per dollar, so the Virgin Money incentive isn’t the best by comparison.

Earn Virgin Money Points: Friend Referral

The Virgin Money Rewards program also has a referral system where active members can refer up to five friends each month and earn points. To receive the points, you need to sign up for the free Everyday Spending + Booster account. Both the person signing up and the person referring them will earn 5,000 bonus points (after completing one transaction within 30 days).

If you’d like to use my referral code (thank you!), it’s: GPOZ9L or click the Referral link.

How to Redeem Virgin Money Rewards Points

Virgin Money Rewards is a flexible program, meaning multiple redemption options are available. There are non-travel-related redemption options such as cashback, paying with points, redeeming for gift cards, or booking hotels. However, these tend to offer lower value in my opinion.

When redeeming for cash or gift cards, you’ll get $5 value for every 1,000 points. To redeem your points, you'll need to download the Virgin Money App and pick your preferred redemption in the rewards tab.

Redeeming for Airline Partners

Naturally, redeeming your Virgin Money Points for airline partners offers the best value. Here are the transfer rates for each partner:

• Velocity Frequent Flyer: 2 Virgin Money Points = 1 Velocity Point
• Etihad Guest: 5 Virgin Money Points = 2 Etihad Guest Miles
• Qatar Airways Avios: 3 Virgin Money Points = 1 Avios
• United MileagePlus: 3 Virgin Money Points = 1 United MileagePlus Mile

Redeeming for Hotel Points

In addition to airline partners, there are also a handful of hotel programs you can transfer points to:

• Marriott Bonvoy: 2 Virgin Money Points = 1 Bonvoy Point
• Accor ALL: 3 Virgin Money Points = 1 ALL Reward Point

Summing Up

The Virgin Money Rewards program is a great addition to your points-earning strategy if you’re looking to score some easy points! The 8 points per transaction, combined with bonus partner offers, can serve as a solid alternative if you don’t want to hold a frequent flyer credit card or if you simply want to maximise your points potential.