Here is reply I have just received from Virginmoney.com

'Thank you for your e-mail, enquiring about a potential partnership
between Virgin Credit Card and Virgin Atlantic Flying Club.

Although I am unable to provide you with a definitive launch date, we would hope this to be within the next couple of months.
>From other feedback we have received, it is clearly a popular choice for Flying Club Members and rest assured if you're a frequent
flyer with Virgin Atlantic you'll be the first to know.

In the meantime, please remember any spend on your card accrues further points, so you'll not be losing out. We have some great
offers in the Members Shop, from fantastic city breaks to cd's and videos, (ideal for Christmas presents). Alternatively, you
can simply accumulate your points, our plans are we'll convert the points to airmiles however, we don't know the ratio of points
to air miles at the moment.