Newbie Question (Possibly a daft one!)
Dec 12, 2018, 2:31 am
#1
Original Poster
Join Date: Dec 2018
Location: Shropshire, UK
Programs: BA & Virgin Flying Club
Posts: 1
Newbie Question (Possibly a daft one!)
Hi all, Brand new to this so please go gentle.
I have been collecting Avios point for years now and have recently decided to move to the Virgin Flying Club (a few trips planned to the states over the next 2 years or so).
Due to a big birthday for the wife approaching in 2020, we are focused on earning as many miles as possible over the coming 12-18 months before we book.
Which leads me to my question:
I have a small loan with Lloyds bank (around £2000 balance left) which I am about to pay off and close.
So I thought, well if I have the money to pay & close it, why not use the Virgin Mastercard and pay it that way, then settle the balance on the card?
Now does this count as a purchase or will they sting me as they will see it as a money purchase so to speak (Like withdrawing money on the card)?
More importantly , will i earn the precious miles I'm looking for?
Thanks for any advice guys,
I look forward to reading up on all your ideas here and hopefully contributing as I go along.
Thanks.
I have been collecting Avios point for years now and have recently decided to move to the Virgin Flying Club (a few trips planned to the states over the next 2 years or so).
Due to a big birthday for the wife approaching in 2020, we are focused on earning as many miles as possible over the coming 12-18 months before we book.
Which leads me to my question:
I have a small loan with Lloyds bank (around £2000 balance left) which I am about to pay off and close.
So I thought, well if I have the money to pay & close it, why not use the Virgin Mastercard and pay it that way, then settle the balance on the card?
Now does this count as a purchase or will they sting me as they will see it as a money purchase so to speak (Like withdrawing money on the card)?
More importantly , will i earn the precious miles I'm looking for?
Thanks for any advice guys,
I look forward to reading up on all your ideas here and hopefully contributing as I go along.
Thanks.
Dec 12, 2018, 5:20 am
#2
FlyerTalk Evangelist
Join Date: Nov 2011
Location: Brighton. UK
Programs: BA Gold / VS /IHG Diamond & Ambassador
Posts: 14,196
Welcome to FT
Whether this counts as a money purchase or not depends on the code Lloyds would apply to a transaction and being a bank it would more than likely be coded as a money transaction and attract interest immediately.
from V money website
Whether this counts as a money purchase or not depends on the code Lloyds would apply to a transaction and being a bank it would more than likely be coded as a money transaction and attract interest immediately.
from V money website
You won’t earn miles on any cash transactions, balance transfers or money transfers.
Dec 13, 2018, 3:48 pm
#3
Join Date: Jul 2017
Location: Yorkshire, UK
Posts: 234
As above, a money transfer doesn’t count towards bonus point spend or earn anyother points.
Having said that, I find it really easy to earn points through the Virgin e-shops site and if you can easily spend £10k on the virgin card, you could get value from the upgrade voucher.
The BA Premium card would still probably work out better, even though I far prefer Virgin!
Having said that, I find it really easy to earn points through the Virgin e-shops site and if you can easily spend £10k on the virgin card, you could get value from the upgrade voucher.
The BA Premium card would still probably work out better, even though I far prefer Virgin!
Dec 16, 2018, 2:54 pm
#7
FlyerTalk Evangelist
Join Date: Aug 2011
Location: Barcelona, London, on a plane
Programs: BA Silver, TK E+, AA PP, Hyatt Globalist, Marriott LT Plat, Hilton Diamond
Posts: 13,047
It's worth reiterating that making full payment each month on any miles-earning credit card is crucial. If you run a balance you will be paying far more in interest than the value of any miles earned.