Tech and Innovation

Virgin Money launches new cashback rewards programme for credit card customers

  • New ‘Virgin Money Back’ scheme allows credit card customers to earn up to 15% cashback on everyday spending
  • An entirely digital experience offered through the Virgin Money credit card app, which automatically allocates individual offers to customers
  • Virgin Money Back is available to all existing and future customers regardless of which credit card product they have, and Virgin Atlantic cards can earn cashback in addition to Virgin Points

Virgin Money has introduced Virgin Money Back, a new rewards programme for its c.1.5 million credit card customers offering up to 15% cashback on spending.

Once registered for Virgin Money Back, customers will receive personalised offers from a range of retailers. Offers will be allocated to customers automatically, meaning it is a simple case of spending with retail partners and earning rewards, and customers will never miss out on an offer.

Virgin Money Back is available to all Virgin Money credit card customers, including those with Virgin Atlantic credit cards who will earn cashback in addition to the Virgin Points they earn already.

Cashback earned will normally be available for customers 35 days after spending, and can be transferred to any current account or used to offset against the credit card balance.

Virgin Money Back represents a further step forward in Virgin Money’s ambition to reward its customers and build a loyalty programme that will drive growth in its personal banking division.

Customers can register for Virgin Money Back, see what offers are available and manage their rewards balance using the Virgin Money credit card app, which is available for both Apple and Android devices. Using the app, customers can also view their balance and transactions, access monthly statements, freeze and unfreeze their card, view their PIN and manage payments to their balance.

Virgin Money Back is offered in partnership with Reward, the award-winning provider of content and capabilities to support customer engagement in banking. The cashback offers available will change over time, with new retailers being added into the programme and some offers being available for a limited period. At launch, offers will be available from a range of retailers including Aveda, Caffe Nero Online, Coach, Crew Clothing, Europcar, Gousto, MAC, Matalan, Origins, P&O Ferries, Sunglass Hut and Sweaty Betty.

Fergus Murphy, Group Personal Director at Virgin Money said “We aim to help our customers live and bank in a more rewarding way, and our new Virgin Money Back programme delivers on that by turning credit card customers’ everyday spending into cashback rewards. We’ve made it as simple as possible for customers to use – there is no need to spend time searching for what offers are available and activate them, ensuring that customers will always benefit from the reward offers available to them.”

Sam Sprekos, Managing Director at Reward UK said “We’re excited about the partnership with Virgin Money having been selected to provide Content and Capabilities to support the Money Back rewards proposition. Reward made a pledge in 2018 to give £1bn in rewards to customers by 2022, we’re proud to say we’re 90% there. Working with Virgin Money will help us on that journey, getting banks closer to customers and providing Personalised Card Linked offers to over 1.5 million Virgin Credit Card holders.”

Further information on Virgin Money’s credit cards and Money Back rewards can be found at virginmoney.com/cards