MileValue is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.

Note: Some of the offers mentioned below may have changed or are no longer be available. You can view current offers here.


Transfer 80,000 American Express Membership Rewards to 40,000 Virgin America Elevate points by December 31, 2015 and receive top tier Virgin America Gold Status through February 2017.

Screen Shot 2015-09-10 at 8.01.50 AM

In addition, if you complete the transfer by October 8, 2015, you will get 25% more Elevate points, so 80,000 Membership Rewards would equal Gold Status plus 50,000 Virgin America points.

Screen Shot 2015-09-10 at 8.00.12 AM

Good Deal?

I value Membership Rewards at 2 cents each. I value Virgin America points at 2 cents each. Elevate points can be redeemed for a nearly-fixed value on Virgin America flights or according to award charts on partner airlines.

I ordinarily wouldn’t transfer Membership Rewards at the 200:100 ratio to Virgin America points. Even with a 25% bonus, 200 MR:125 Elevate is a bad deal.

But the addition of Gold Status makes things interesting.

Assuming you value both Membership Rewards and Virgin America points at 2 cents, then transferring 80,000 Membership Rewards to 50,000 Elevate Points plus Gold Status is like spending $600–the value of the “lost” points–on Gold Status. The perks of Virgin America Gold Status are:

  • Access to the Virgin America Loft at LAX (also a Priority Pass that you can access with free membership from the Citi Prestige® Card)
  • Complimentary upgrades to Main Cabin Select (24 hours before the flight)
  • Priority access to purchase first-class upgrades
  • Three free checked bags
  • Priority security and priority boarding
  • 100% bonus on points on all money spent on Virgin America flights (ie 10 points per dollar)
  • 25% discount on two main cabin tickets per year

Is that worth $600 to you? Probably not. If it were, you would probably already have Virgin America Gold Status because one thing I’ve noticed about status is that the people who can most use it are the same people who earn it in the first place because using it and earning it both require a lot of flying.

Bottom Line

I’m sitting out this transfer bonus/status grab. I have flown Virgin America once in my life, and I probably will fly it once or zero times before February 2017. But if you are in the weird position of not having flown Virgin America much so far but planning to fly it a lot in the next 17 months, by all means, you should transfer 80,000 Membership Rewards to 50,000 Virgin America points plus Virgin America Gold Status by October 8.

Even though I won’t take advantage, I love this innovation from American Express, and I hope Citi and Chase come up with exciting promotions to compete.

 

Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.

Just getting started in the world of points and miles? The Chase Sapphire Preferred is the best card for you to start with.

With a bonus of 60,000 points after $4,000 spend in the first 3 months, 5x points on travel booked through the Chase Travel Portal and 3x points on restaurants, streaming services, and online groceries (excluding Target, Walmart, and wholesale clubs), this card truly cannot be beat for getting started!


Editorial Disclaimer: The editorial content is not provided or commissioned by the credit card issuers. Opinions expressed here are the author’s alone, not those of the credit card issuers, and have not been reviewed, approved or otherwise endorsed by the credit card issuers.

The comments section below is not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved, or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all questions are answered.