Virgin Launches Credit Card

15th Nov 2002

Virgin Atlantic announces the launch of an exciting new credit card opportunity for members of Virgin Atlantic’s frequent flyer programme - flying club. The new Virgin Credit Card offers flying club members the chance to earn flying club miles on all retail transactions with their Virgin Credit Card as well as a generous 0% pa balance transfer rate for the first six months following the account being opened, 15.9%APR (variable).
A choice of two card options are available for flying club members:

á The first option, earns 1 flying club mile for every £1 of retail spend, no annual fee and an APR of just 15.9% (variable)

á The other, for those who want to earn miles more quickly, offers customers 2 flying club miles for every £1 of retail spend, with an annual fee of £80 pa, and an interest rate of 15.9%, which works out, including the fee, to an APR of 19.1% (variable)*.

The cardholder is able to use this Virgin Credit Card for everyday essentials, secure in the knowledge that even paying for the weekly food bill will result in clocking-up those all important flying club miles.

Each month the cardholder is informed by statement of the current month’s flying club miles earned on the card, which will be automatically transferred into their flying club account. The miles can be exchanged for the many exciting flying club rewards, including Virgin Atlantic flights or hot air ballooning for the more adventurous, or even a stay at Richard Branson’s private retreat ‘Necker Island’. In addition, flying club cardholders will also have access to the online Virgin Credit Card Members Shop, which is available to all Virgin cardholders and offers Virgin products, many at discounted prices.


Paul Pester Chief Executive at Virgin Money, said:

“The Virgin Credit Card is already one of the fastest growing in the UK and this new product card is further evidence of our commitment innovation and customer choice based on providing great value for money. Traditional frequent flyer cards have been big on rewards but poor value for money. Our approach is to give people the best of both worlds.”

Steve Ridgway, Chief Executive of Virgin Atlantic, said:

“We’re delighted to be able to offer our flying club members a credit card that gives them the opportunity to get even more out of the programme. When we asked members what they wanted from a credit card, they told us they wanted to earn more miles, more quickly. Working with Virgin Money we`ve come up with a new version of the Virgin Credit Card that will allow flying club members to earn miles faster than rival cards and a very competitive interest rate as well.’‘



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