Virgin Money Cashback Switch Offer August 2022

[Deleted User]

Bridlington1 said:

Deleted_User said:

Daliah said:

In other words, those eligible for the new offer need to spend £640 within 60 days in UK supermarkets / convenience stores / petrol stations in order to benefit form the maximum £160 switch offer.

Wonder if anyone could do the maths on this vs say Nectar points, we'd easily spend that much in the supermarket in 2 months so the £160 is nice but means paying debit rather than on the nectar credit card so losing the bonus points. Sounds like a good offer though

£640 would produce 640 nectar points if spent at Sainsburys in one go, equivalent to £3.20 so the £160 cashback is 50 times more profitable than the nectar points.

I had completely forgotten it was just 1 point extra for using the card, get all the offers and bonus stuff so points rack up very quickly so lose track of these, only downside would be having to move all the cash over to meet the requirements, still worth a look when the current switches are done

TheLabFather

You can buy gift cards as Virgin will only see the total value of transaction at the supermarket not what spent on. 

mika_dm

What happens after 60 days and £160 maximum cash back? Will the cashback rate remain the same or will become no cashback account? Or just the usual 0.25% Virgin card gives anyway?

overspender22

Anyone else waiting on a referred credit check? My partner was approved immediately so I’m guessing this means they’ll only offer me the basic account :-(

Daliah

mika_dm said:

What happens after 60 days and £160 maximum cash back? Will the cashback rate remain the same or will become no cashback account? Or just the usual 0.25% Virgin card gives anyway?

To the best of my knowledge, there's no usual 0.25% cashback on Virgin debit cards. I think they have credit cards with ongoing cashback, and they do offers for individual retailers from time to time. 

Once you have earned the £160 from the switch offer, you won't get any regular cashback on the debit card (unless they launch a new offer for this - -  very highly as this cashback offer is designed to attract new customers, not please existing ones).

TheLabFather

The credit card has a cash back section where the offers change each month.

Not a great deal - Morrisons is 7% minimum £25 spend but says online only. Cash back credited to card or sent to a bank account.

overspender22

STILL waiting for a decision to open the account. Ridiculous 

Milarky

25% cashback? Something is off about that. That's the kind of thing phishers would say. Could anyone confirm actually getting their cashback at some stage (down the line of course)?

"It a trap™"

PRAISETHESUN

Milarky said:

25% cashback? Something is off about that. That's the kind of thing phishers would say. Could anyone confirm actually getting their cashback at some stage (down the line of course)?

"It a trap™"

https://uk.virginmoney.com/current-accounts/switch-offer/

Straight from the horses mouth

Daliah

Milarky said:

25% cashback? Something is off about that. That's the kind of thing phishers would say. Could anyone confirm actually getting their cashback at some stage (down the line of course)?

"It a trap™"

It's not a trap. It's just a somewhat complicated way of paying you up to £160 as a switch bonus.