12000 miles for a stocks and shares ISA (UK)

Old Apr 28, 2016, 10:52 am
  #1  
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12000 miles for a stocks and shares ISA (UK)

Double up from the usual so a nice promotion.

https://flyingclubhub.virgin-atlanti...e-virgin-money
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Old Apr 28, 2016, 11:42 am
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Originally Posted by ExpatSomchai
Double up from the usual so a nice promotion.

https://flyingclubhub.virgin-atlanti...e-virgin-money
It's a bit of a lottery really I suppose. You would have to invest a minimum of £450 (6 X £75) and risk losing some of it but get 12,000 valuable miles. I wonder if there is information available on how it has performed in previous years, but with it being stocks and shares the uncertainty of the EU referendum isn't going to help.
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Old Apr 28, 2016, 12:12 pm
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Mapleoak I have noticed that there is no a choice of funds, some being low risk.
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Old Apr 28, 2016, 4:02 pm
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Originally Posted by ExpatSomchai
Mapleoak I have noticed that there is no a choice of funds, some being low risk.
I might give it some thought, one in my name one in my wife's. That would increase my miles to 26,000 and I'm hoping to get another 12,500 through Clubcard points. My wife would have around 21,000 which we could put towards some Combi flights to Orlando in August 2017!
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Old Apr 29, 2016, 2:40 am
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Please do not make financial decisions based on getting miles.

ISAs are supposed to be medium - long term investments and you are at risk of losing your investment should the market not perform well.

Having a Virgin Stocks and Shares ISA means you can't have another S&S ISA this financial year from another provider - even of you close the Virgin Money one.
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Old Apr 29, 2016, 6:28 am
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Originally Posted by UKtravelbear
Please do not make financial decisions based on getting miles.

ISAs are supposed to be medium - long term investments and you are at risk of losing your investment should the market not perform well.

Having a Virgin Stocks and Shares ISA means you can't have another S&S ISA this financial year from another provider - even of you close the Virgin Money one.
Sound advice, like everything to do with investments it's crystal ball gazing. If I knew I would lose say, £50 prior to closing the ISA after 6 months then I'd have to square that off with how long it would take me to earn 12,000 miles - if I lost considerably more then it obviously wouldn't be worth contemplating. I don't have nor would I be contemplating a further ISA so that wouldn't be an issue. As you say, it needs careful thought.
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Old Apr 29, 2016, 10:07 am
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damn signed up 3 week ago for the old 6k miles deal any recourse ?
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Old Apr 29, 2016, 11:03 am
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Originally Posted by poppyz
damn signed up 3 week ago for the old 6k miles deal any recourse ?

No.
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Old Apr 29, 2016, 11:13 am
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Originally Posted by poppyz
damn signed up 3 week ago for the old 6k miles deal any recourse ?
Hi Poppyz,

If you don't mind me asking did you sign up for the £75 a month approach?
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Old Apr 29, 2016, 11:48 am
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Originally Posted by UKtravelbear
Please do not make financial decisions based on getting miles.

ISAs are supposed to be medium - long term investments and you are at risk of losing your investment should the market not perform well.

Having a Virgin Stocks and Shares ISA means you can't have another S&S ISA this financial year from another provider - even of you close the Virgin Money one.
+1.

It's one thing to take out some silly cheap and unnecessary life or pet insurance to buy miles indirectly, it's another thing to waste your annual ISA allowance to earn £100-worth of miles.

You can eventually pay for dozens of flights by investing as much as you can in a proper S&S ISA and reinvesting the dividends.
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Old Apr 29, 2016, 1:21 pm
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Yes £75 a month
Originally Posted by Mapleoak
Hi Poppyz,

If you don't mind me asking did you sign up for the £75 a month approach?
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Old Apr 30, 2016, 4:28 am
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Originally Posted by craigthemif
+1.

It's one thing to take out some silly cheap and unnecessary life or pet insurance to buy miles indirectly, it's another thing to waste your annual ISA allowance to earn £100-worth of miles.

You can eventually pay for dozens of flights by investing as much as you can in a proper S&S ISA and reinvesting the dividends.
That's sound advice but I don't have a significant amount to invest in an ISA to generate enough dividends so losing my yearly allowance is not an issue. This would simply be a short term means to an end to get 12,000 miles I don't have. To buy 13,000 miles from Virgin would be an eye watering £165 😂 Whereas unless there is a stock market crash akin to the Great Depression I wouldn't expect to lose that amount over 6 months - which is when I would withdraw the money from the ISA.

However, I appreciate there may be better ways of earning miles.
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