Virgin Red has today launched a new redemption option that lets members swap 40,000 Virgin Points for a $300 Virgin Voyages Bar Tab to spend onboard a sailing. You can find out more on the Virgin Red site, but I wanted to run through the maths first - because "new way to spend your points" and "good way to spend your points" aren't always the same thing.
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What's launched
From today, Virgin Red members can redeem 40,000 Virgin Points for a $300 Bar Tab credit to use onboard Virgin Voyages' adults-only ships. The credit covers a decent range of drinks - everything from the line's signature Shake for Champagne feature through to cocktails by the pool and speciality coffees.
According to Virgin, the Bar Tab credit is valid for 12 months from issue, and the offer can't be combined with any other offer, discount or credit. It's described as a limited-time offer, so if it appeals, it's not one to sit on indefinitely.
This sits alongside the existing ways to spend Virgin Points across the Virgin family - reward flights with Virgin Atlantic, Virgin Limited Edition hotel stays, everyday treats, and indeed full Virgin Voyages reward sailings (currently from 175,000 points for New York to Bermuda, or 230,000 points for a seven-night Mediterranean voyage, based on prices Virgin quoted as correct on 8 June 2026 and subject to change).
Let's do the maths
Here's where I always start with a redemption like this. $300 at today's exchange rate is roughly £220-£225. Split across 40,000 points, that works out at around 0.55p per Virgin Point before you've factored in the dollar conversion working in your favour or against you.
For context, most UK points folks value Virgin Points at somewhere in the region of 1p to 1.5p each when redeemed well - typically against Virgin Atlantic Upper Class flights during a sale. On that basis, a Bar Tab redemption is landing meaningfully below what your points can do elsewhere. You're essentially buying onboard drinks at full whack with a currency that's worth more pointed at premium-cabin flights.
That's not a criticism of the offer existing - more options are always welcome, and flexibility has real value. It's just worth being clear-eyed: this is a convenience redemption, not a value one.
So who is it actually for?
I can see this making sense in a few specific cases:
You've already booked a Virgin Voyages sailing and have points sitting idle that you'd otherwise never spend. Drinks you were going to buy anyway, paid for with points you weren't using - that's a fair trade.
You're points-rich and cash-conscious on the trip itself, and would rather not see a big bar bill land on your folio at the end.
You simply don't fly Virgin Atlantic often enough to burn points on Upper Class, so the "best" redemption isn't realistically on the table for you.
If, on the other hand, you're sitting on a Virgin Points balance with a transatlantic trip in mind, I'd keep those points exactly where they are. A 40,000-point chunk goes a long way towards an Economy or Premium reward seat, especially when Virgin runs one of its periodic award sales.
How to earn the points in the first place
If you're nowhere near 40,000 Virgin Points, the good news is they're among the easier UK currencies to build. The standout route for me is transferring from Capital on Tap - Pro cardholders transfer at 1:1 into Virgin Points, which is genuinely useful if you run a UK business. You can also move American Express Membership Rewards across (Amex transfers to Virgin Atlantic Flying Club), and there are regular transfer bonuses worth waiting for.
If you want the full rundown on the best cards for building an Avios or Virgin balance, my best UK rewards credit cards guide and the dedicated Virgin Atlantic credit cards guide are the places to start.
My honest take
I like that Virgin Red keeps adding ways to spend points - it's one of the reasons the programme stays interesting, and "never expires" plus genuine flexibility is a strong combination. But I won't pretend a $300 drinks credit for 40,000 points is where I'd send mine. For me, Virgin Points earn their keep on flights, and this redemption is firmly a "nice if you're already onboard and have spare points" play rather than a headline deal.
If you do want to weigh a full reward sailing or a flight redemption against this, my Award Travel Finder tool is handy for checking what award flights are actually available before you commit any points to drinks.
Happy travels,
Jack