Virgin launches waitlist for new Virgin Red Rewards Mastercard

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Virgin Atlantic flyers, rejoice: The waitlist for the Virgin Red Rewards Mastercard is now open.

The new Synchrony-issued card, launching this fall, earns 3 points per dollar at Virgin Atlantic, Virgin Hotels and Virgin Voyages and comes with a number of unique and customizable perks for a $99 annual fee.

Here's what else to know.

The information for the Virgin Red Rewards credit card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Virgin Red Rewards Mastercard details

The Virgin Red Rewards Mastercard will come with a unique benefit system: Twice a year, cardholders will be able to choose from one of the following perks to take advantage of:

• A Flying Club reward voucher for a companion seat or a cabin upgrade on Virgin Atlantic
• One free night stay at a participating Virgin Hotels property
• One suite upgrade at a participating Virgin Hotels property
• An up-to-$300 bar tab with Virgin Voyages
• The Blue Extras perk package with Virgin Voyages, including laundry service, an exclusive cocktail party and daily coffee credits

Plus, you'll also enjoy the following perks all the time:

• No foreign transaction fees
• 2,500 Virgin points when you add an authorized user (up to four users)
• An anniversary bonus of 5,000 Virgin points each year upon renewal
• 25 Flying Club tier points for every $2,500 in eligible purchases (up to 50 tier points per month)
• A third night free after booking two nights at a participating Virgin Hotels property once a year

You'll get the following earning rates with the Virgin Red Rewards Mastercard:

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• 3 points per dollar with Virgin Atlantic, Virgin Hotels and Virgin Voyages
• 2 points per dollar on dining, groceries, select streaming services and electric vehicle charging
• 1 point per dollar everywhere else

Plus, the card will have an introductory welcome offer of 40,000 points after you spend $3,000 on the card in your first 90 days.

Is it worth it?

For just a $99 annual fee, the Virgin Red Rewards Mastercard and its long list of perks can absolutely provide value to Virgin loyalists.

The twice-a-year customizable perk alone should be enough to justify the card's price tag. Then, after factoring in the card's other perks and earning rates, cardholders should be able to justify flying Virgin to their heart's content.

For those wondering, Virgin Atlantic Flying Club and Virgin Red points are essentially the same, as you can transfer them between the two programs. TPG's August 2024 valuations place these points at 1.4 cents apiece, making them one of the more valuable airline currencies on the market.

Bottom line

Some details remain to be seen, but the Virgin Red Rewards Mastercard seems to be a solid value proposition if you fly Virgin often and want a card to take advantage of that.

With healthy earning rates and benefits, plus a unique choose-your-own-perk system that can singlehandedly justify the card's annual fee, it promises to be a solid addition to the Virgin lineup of cards. If you're interested in the Virgin Red Rewards Mastercard, be sure to sign up for the waitlist.

Related: Virgin Atlantic Flying Club: How to earn and redeem points for maximum value