First-ever Virgin Red Rewards credit card will
offer consumers the opportunity to boost their Virgin Points
balance with Virgin companies, among other perks and rewards from
across the Virgin Group
NEW
YORK and PURCHASE, N.Y. and STAMFORD, Conn., May 22, 2024
/PRNewswire/ -- Virgin Red today announced it has entered into a
multi-year agreement with Synchrony (NYSE: SYF) and Mastercard for
the new Virgin Red Rewards World Elite Mastercard credit card
program. Synchrony will become the exclusive U.S. issuer of a
multi-category travel credit card program for Virgin Red. As part
of the partnership, Mastercard will become the exclusive payments
network for the new card that will launch in the second half of
2024.
"Whether flying, cruising, staying in a hotel or enjoying one of
our many exciting experiences, we want our members to be rewarded
when they travel with Virgin," said Andrea
Burchett, Chief Loyalty Officer and Managing Director,
Virgin Red. "Our new credit card with Synchrony and Mastercard will
upgrade customers' reward opportunities so they can earn Virgin
Points on travel with Virgin companies, as well as on everyday
purchases."
The new Virgin Red Rewards Mastercard will allow cardholders to
earn Virgin Points on hotels, flights, cruises or experiences, as
well as purchases outside Virgin companies. Virgin Points can be
spent across a huge variety of rewards on Virgin Red from movie
tickets and charity donations to hotel stays, flights and
extraordinary experiences with Virgin Experience Gifts.
Through the partnership with Synchrony, cardholders will have
access to new and improved digital experiences including
streamlined digital application and servicing.
"Synchrony is working hand-in-hand with Virgin Red to create the
ultimate rewards credit card program for its members," said
Bart Schaller, EVP and CEO, Digital,
Synchrony. "This new program will offer an unparalleled experience
for Virgin's most loyal customers from application to purchase to
rewards redemption."
"The new Virgin Red Rewards Mastercard offers a dynamic consumer
experience that makes shopping and adventures more meaningful,"
said Chiro Aikat, EVP, U.S. Market
Development, Mastercard. "As brands continue vying for consumer's
loyalty, we're excited to work with Virgin Red and Synchrony to
offer travelers a card that offers value beyond the payment
transaction and features rewards on things they're most passionate
about."
Virgin Red will provide customers with additional information in
the coming months regarding the launch of the new credit card
program later this year.
About Virgin Red
Virgin Red is Virgin's rewards club,
connecting the Virgin family, where members can earn on the
everyday to save for the extraordinary. Virgin Red celebrates its
members for living a life more Virgin – giving them exclusive
access to rewards from the Virgin family and beyond. It makes it
really easy for members to earn and spend Virgin Points – Virgin's
universal currency which never expires. Whether it's spending
points on an everyday treat like a movie ticket or saving for a
bigger extraordinary experience like a holiday, there is something
for everyone. Top up your points balance by earning on your
everyday online shopping with some of the U.S.'s biggest
retailers.
About Mastercard
Mastercard is a global technology
company in the payments industry. Our mission is to connect and
power an inclusive, digital economy that benefits everyone,
everywhere by making transactions safe, simple, smart and
accessible. Using secure data and networks, partnerships and
passion, our innovations and solutions help individuals, financial
institutions, governments and businesses realize their greatest
potential. Our decency quotient, or DQ, drives our culture and
everything we do inside and outside of our company. With
connections across more than 210 countries and territories, we are
building a sustainable world that unlocks priceless possibilities
for all. Visit www.mastercard.com.
About Synchrony
Synchrony (NYSE: SYF) is a premier
consumer financial services company delivering one of the
industry's most complete digitally-enabled product suites. Our
experience, expertise and scale encompass a broad spectrum of
industries including digital, health and wellness, retail,
telecommunications, home, auto, outdoor, pet and more. We have an
established and diverse group of national and regional retailers,
local merchants, manufacturers, buying groups, industry
associations and healthcare service providers, which we refer to as
our "partners." We connect our partners and consumers through our
dynamic financial ecosystem and provide them with a diverse set of
financing solutions and innovative digital capabilities to address
their specific needs and deliver seamless, omnichannel experiences.
We offer the right financing products to the right customers in
their channel of choice. For more information, visit
www.synchrony.com.
Contacts:
Angela Palmer
Virgin Red
Angela.palmer@virgin.com
Caitlin Marsh
Virgin Red
Caitlin.marsh@virgin.com
Will O'Connor
Mastercard
Will.O'Connor@mastercard.com
Lauren Devilbiss
Synchrony
Lauren.Devilbiss@syf.com
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SOURCE Synchrony