Over the past few years, Virgin Atlantic miles have been one of my most consistently useful currencies. I use them opportunistically, often at short notice, and almost always at greater than 1.5¢ per mile.
That history matters, because it directly informs a decision I just made: a large speculative purchase of Virgin Points during the current 70% bonus promotion on Virgin Atlantic’s UK site.
This is not a universal recommendation. Most people should never buy miles without a specific redemption in mind. But my own usage history, transfer behavior, and household setup make this a calculated inventory decision, not a gamble.
The transaction
Using my wife’s UK-based Virgin Atlantic account, I purchased:
300,000 base Virgin Points
210,000 bonus Virgin Points (70%)
Total received: 510,000 Virgin Points
Cash cost
£15 per 1,000 base points × 300 = £4,500
One-off transaction fee = £15
Total: £4,515
Amex FX rate: 1.337 USD/GBP
USD equivalent: $6,034.30
Payment method: USD Amex Business Platinum
Earn rate: 2× MR on transactions over $5,000
Points earned on the purchase
$6,034.30 × 2 = 12,068 Amex Membership Rewards
12,000 MR transferred to Virgin during a 1,000:1,400 (1.4×) transfer promotion
Resulting Virgin Points: 16,800
These points are not incidental. They are a direct and intentional consequence of the transaction.
Effective net cost per Virgin Point
Virgin Points purchased: 510,000
Virgin Points earned via MR transfer: 16,800
Total Virgin Points acquired: 526,800
Cash outlay: $6,034.30
Net effective cost: 1.14¢ per Virgin Point
This is the correct CPM. I include the earned and converted MR because they are a direct result of the purchase and fully fungible within the same ecosystem. Excluding them would understate the true economics.
Why the UK offer is structurally better than the US version
The headline bonus is identical at 70%. The difference lies entirely in pricing mechanics.
Per Virgin Atlantic’s own terms:
UK pricing: £15 per 1,000 base points plus a £15 one-off fee
US pricing: $25 per 1,000 base points plus a $22 one-off fee
At scale, the £15 versus $25 per-1,000 delta compounds quickly. For large purchases, the UK account consistently produces a lower effective CPM than the US account, assuming identical bonus percentage and card strategy.
This is genuine expat arbitrage, not a loophole.
Historical Virgin usage (summary)
Redemptions and value
Date | Route / redemption | Cash equivalent |
|---|---|---|
Jul 2023 | LHR–LAX (5 passengers) | $10,335 |
Dec 2023 | LHR–JFK (6 passengers) | $3,530 |
Dec 2023 | JFK–LHR (5 passengers) | $3,058 |
Oct 2025 | LHR–JFK (3 passengers) | $1,653 |
Feb 2026 | LHR–LAS (3 passengers) | $1,393 |
Aug 2025 | Finch Hattons safari (3 nights) | $8,700 |
Points used and efficiency
Date | Points used | Effective CPM |
|---|---|---|
Jul 2023 | 125k Amex MR → Virgin | 7.66¢ |
Dec 2023 | 82k Amex MR → Virgin | 2.21¢ |
Dec 2023 | 13k Virgin + 76k MR | 2.61¢ |
Oct 2025 | 28k Citi TY → Virgin | 3.75¢ |
Feb 2026 | 1k Virgin + 26k MR | 2.63¢ |
Aug 2025 | 10k Virgin + 365k MR | 2.32¢ |
Footnote:
My CPM calculations include points earned on the cash portion of bookings and transfer bonuses, because they materially affect real economic cost. Others may calculate differently.
All redemptions above were economy, or non-flight redemptions. One of the most expensive transatlantic tickets listed was economy. Virgin pricing can be inconsistent, but value still appears when you are selective.
Why I’m comfortable holding 500k+ Virgin Points
Virgin has repeatedly acted as an outlet for Amex Membership Rewards and Citi ThankYou balances in my household.
Buying this block does two things simultaneously:
Restores flexibility to keep using Virgin without draining transferable points
Preserves optionality to redeploy MR and TY elsewhere when better opportunities arise
This is not blind speculation. It is an inventory rebalance based on several years of observed behavior. The risk of this decision is fairly well contained, and the record supports that.
Final note
This was a one-time inventory rebalance, not a standing strategy.
The Virgin 70% bonus and the Amex 1.4× transfer promotion are both limited-time offers. The Virgin bonus is available now but will expire soon.
For me, the math worked, the timing aligned, and the usage history justified it. That combination together is much more meaningful than any single one-off bonus in isolation.