Huge offer: Limited-time 40% transfer bonus from Chase Ultimate Rewards to Virgin Atlantic Flying Club --[Reported by Umva mag]

While we are on the verge of what could be a pretty steep devaluation over at Virgin Atlantic, there is what could be a pretty smoking hot deal right now that might still make sense for some travelers.

Right now, Chase is offering a 40% transfer bonus to Virgin Atlantic Flying Club, as first seen at View from the Wing. That’s a larger-than-normal transfer bonus, and you have until Nov. 30 to take advantage of the deal. In fact, Chase is calling it their biggest offer ever to Virgin Atlantic.

You’ll likely want to act faster than that, however, as Virgin Atlantic is shifting to a dynamic pricing model for points redemptions beginning Oct. 30. We don’t yet know exactly what that will look like, but you still have about two weeks to lock in any awards you’ve had your eye on with the existing award chart (or be prepared to potentially pay more for those redemptions).

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Chase Ultimate Rewards points are among the best transferable rewards currencies because they transfer to so many airline and  hotel loyalty programs. You can earn Ultimate Rewards points with cards such as the Chase Sapphire Preferred® Card, which currently has an increased bonus of 60,000 Ultimate Rewards points after you spend $4,000 on purchases in the first three months of account opening, plus a $300 statement credit on Chase Travel℠ purchases to use within the first year.

Among the Chase Ultimate Rewards partners is Virgin Atlantic Flying Club.

The transfer process is easy. Just log into your Chase Ultimate Rewards account, hit the transfer button and then enter your Virgin Atlantic Flying Club details.

Despite the coming shift to dynamic pricing at Virgin Atlantic, there is some potential good news from the changes that go into effect on Oct. 30. Beginning then, every seat on a Virgin Atlantic-operated flight will be bookable using Virgin Points. You’ll also be able to use your Virgin points for upgrades. There will also be a new category of award seats via a new saver reward seat product, though we don’t yet have a lot of details.

Related: Dynamic airline award pricing is out of control — here are some ways to beat it

Virgin says Flying Club members will see some of their lowest-ever points prices. Among the samples they suggested flights from London to New York for as few as 6,000 points each way. The Points Guy will share all of the news about updated pricing once the changes go into effect at the end of the month.

In the meantime, it could make sense to use your Chase Ultimate Rewards points for a transfer to Virgin Atlantic, especially if you’ve had your eye on a particular award at a good price. Transfer bonuses to Virgin Atlantic are more often in the 20% – 30% range, so this is pretty generous. I wouldn’t speculatively transfer despite the 40% bonus, especially with the coming changes, but since the bonus will run into November, you’ll have time to decide even after the changes are announced.

Bottom line

Despite a pending move to dynamic pricing, Virgin Atlantic can still be a highly valuable program for international travel. Among the premium airlines you can book using their points currency are ANA, Air France or KLM. When you can find availability, there are some good deals out there.

Please don’t transfer points with this bonus without a specific booking in mind, as we don’t know what the new charts will look like just yet.

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