Is the Virgin Atlantic World Elite Mastercard worth it? | April 2018

Review: Virgin Atlantic World Elite Mastercard® – April 2018

Get decent value for your spending with Virgin Atlantic — along with bonus points and discounted tickets.

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  • Get this card if… you want to earn rewards for your loyalty to Virgin Atlantic.
  • Pick something else if…you don’t want to pay annual fees or if you want an intro APR offer.
  • Excellent credit score of 720 to 850 recommended.

Coming from Bank of America’s series of travel cards, the Virgin Atlantic World Elite Mastercard is best suited for those who favor Virgin Atlantic over other airlines. Rewards come in the form of 3x miles on spending with Virgin Atlantic and 1.5x miles on all other purchases. With Flying Club partners like Delta, Virgin Trains and Marriott, you stand to collect miles even faster. No international transaction fees are an added bonus.

Product NameVirgin Atlantic World Elite Mastercard®
Balance Transfer Rate (not intro)16.24% to 24.24% variable
APR for Purchases ( Purchase Rate )16.24% to 24.24% variable
Annual fee$90
Cash Advance Rate19.24% to 26.24% variable
Card TypeMastercard
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 25 days
Returned Payment Fee$27
Foreign Currency Conversion Fee (MC)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
0% of transaction value
Minimum Interest$1.50
Minimum Credit ScoreGood (700-739)
Minimum Age18 years of age
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
Annual fee$90
Returned Payment Fee$27
Late Payment Fee$38
Cash Advance Fee$10 or 5% of the amount of each transaction, whichever is greater
Rewards ProgramBank of America
Bonus Points on Sign-up20,000
Rewards Points per $ spent (VISA/MC)3
Points ExpiryNever

The Basics

The Virgin Atlantic World Elite Mastercard comes with a generous signup bonus of 20,000 miles earned after your first purchase of any amount. You’ll get 15,000 bonus miles on each account anniversary and up to another 5,000 points when you add authorized card users to your account.

If you travel a lot outside the US, you’ll save even more by avoiding the foreign transaction fees that come with other cards. And if you spend $25,000 on purchases annually, you’ll get a second reward ticket for half the Flying Club miles when you redeem them for a Virgin Atlantic Economy reward ticket.

Whether the $90 p.a. annual fee is worth it depends on how often you fly with Virgin Atlantic and its many partners.

The Perks

  • Signup bonus. Earn a signup bonus of 20,000 miles after your first purchase with no minimum spend requirement.
  • Opportunities for bonus miles. When you spend $15,000 on purchases in an anniversary year, you’ll receive 7,500 bonus miles. If you end up spending $25,000, you’ll get another 7,500 miles. And you can earn 2,500 bonus miles for each of the first two authorized users you add to your card.
  • Miles rewards. Earn 3x Flying Club miles when you spend with Virgin Atlantic and 1.5x miles on all other purchases. Spending with Flying Club partners accelerates your earnings, with some partner hotels offering 2x miles for every dollar.
  • Multiple redemption possibilities. Redeem your miles for reward seats, companion seats and upgrades with Virgin Atlantic or partner airlines that include Delta, Singapore Airlines, Air New Zealand, Jet Airways and South African Airways. You can also redeem your miles for rewards through partner hotels, retail stores and rental car companies.
  • Tiered benefits. Earn 25 tier points for every $2,500 you spend on purchases, with a limit of 50 points in a month. Depending on how many tier points you collect, you can progress from red to silver to gold. Gold-level benefits include 60% bonus miles on every flight, extra carry-on and checked baggage privileges, exclusive clubhouse passes, guaranteed economy seats on any flight and a complimentary companion ticket at your annual renewal.

You’ll also like …

  • Complimentary concierge service. Available 24/7, their concierge service helps you secure dinner reservations, get tickets to events, coordinate business arrangements and more.
  • Trip cancellation/interruption insurance. If your trip is cancelled or interrupted due to a covered accident or sickness, you can be reimbursed for the unused, non-refundable portion of the fare, whether it’s a flight, bus, train or cruise — up to $1,500 per year.
  • Trip delay insurance. If your trip is delayed more than six hours due to a covered loss, you can be reimbursed for reasonable expenses — up to $250 per trip.
  • Rental car insurance. You can decline the rental company’s collision insurance and instead get covered for damages to your rental vehicle through Mastercard when you use it to pay for the rental transaction.
  • Travel accident insurance. You’re covered for Accidental Death and Dismemberment Insurance on your flight, bus trip, train ride or cruise excursion when using your Mastercard to pay for the fare.
  • Baggage delay insurance. Reimburses you for emergency purchases of essential items like toiletries and clothing if your baggage is delayed four or more hours on a covered trip.
  • Discounted companion tickets. Spend $25,000 on purchases in an anniversary year to qualify for an economy companion reward ticket at half the typical miles.
  • No foreign transaction fees. You don’t have to worry about paying yet more fees when you use this card overseas.
  • Points transfer. Easily transfer your miles to other Flying Club members.
  • Security and protection. This chip-enabled card offers enhanced protection in more than 130 countries. It also comes with $0 liability guarantee as a safeguard against fraudulent transactions.

What to watch out for

  • Annual fee. Paying the $90 p.a. annual fee won’t be worth it if you’re not a frequent traveler.
  • Penalties. Making a late payment will set you back up to $38, and returned payments cost up to $27.00. Also watch out for a penalty APR of up to 29.99% variable.

Consider other cards if …

  • You don’t fly with Virgin Atlantic or its partners. If you prefer other airlines when traveling, consider an airline card that better fits your needs.
  • You don’t want to pay an annual fee. You’ll find a few rewards cards that come with no annual fees.

What to know before you apply

Apply for the Virgin Atlantic World Elite Mastercard if you’re:

  • At least 18 years old.
  • A US citizen or permanent resident.

Always consider your options and your financial situation before you apply for a credit card.

What credit score do I need?

An excellent credit score of 720 or higher increases the chances of your application’s approval.

How to apply for the card

1. Go to the Virgin Atlantic World Elite Mastercard product page and click Apply Now.

Virgin Atlantic Credit Card step 1

2. Provide your personal and financial information and click Review your information.

Virgin Atlantic Credit Card step 2a

Virgin Atlantic Credit Card step 2b

Virgin Atlantic Credit Card step 2c

Virgin Atlantic Credit Card step 2d

3. Confirm that your information is correct and submit your application.

How long will it take to be approved?

Bank of America processes its applications online, and you’ll typically learn your application’s conditional approval soon after submitting it.

I got the card. Now what?

  • Make timely payments. Register your account online with Bank of America to monitor your spending and make payments.
  • Avoid interest. Make use of the 25-day grace period after each billing cycle to avoid paying interest on purchases.
  • Avoid unnecessary fees. Ensure that there are adequate funds in your bank account when making payments to avoid stiff late fees and bounced-payment penalties.
  • Customer service. Online help is available in the form of BofA’s Ask Jenn, or call 800-732-9194 for support. You can also connect with Bank of America on Facebook @BankofAmerica or Twitter @BofA_Help.

Bottom line

The $90 p.a. annual fee for the Virgin Atlantic World Elite Mastercard could be well worth it if you frequently fly with Virgin Atlantic and its partners or even travel at all. It offers multiple rewards for your spending, including bigger returns for travel purchases. If you don’t fly that often or tend to use other airlines, consider a more flexible rewards card.

Common questions about the Virgin Atlantic World Elite Mastercard

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