Virgin America has had a credit card in the past but has now decided to partner with Comenity Capital Bank. The bank is mainly known for it's affiliation with major retailers.
The new card comes in 2 flavors with 10,000 Elevate points as sign-up bonus for a $49 annual fee (not waived) and 15,000 Elevate points for a $149 annual fee. Both require a $1,000 spend.
The Premium Card also allows you to earn status points:
You will receive 5,000 Status Points for each $10,000 of Net New Purchases made using your card, up to a maximum of 15,000 Status Points per calendar year, provided that you have paid the Annual Fee and your Account is open and not in default at the time Points are posted.
One more great benefit for the Premium Card Holders are the waived cancel and change fees!
Premium Cardholders are eligible to receive waived change or cancel fees (as published at virginamerica.com) when purchasing non-refundable fares on Virgin America-operated flights. To receive the waived change or cancel fee benefit, you must include your Elevate account number in your reservation and use your Premium Card to purchase your ticket(s) directly from Virgin America. Your Credit Card Account must be in open and not in default at the time of making a change or cancellation to an existing reservation. The waived change or cancel fee benefit is only available on paid Virgin America marketed and operated flights; codeshare flights with a Virgin America flight number but operated by another airline are not eligible.
That's a first for any credit card – that usually is only available to TOP tier airlines status holders.
While 15,000 Elevate points sounds meager – keep in mind that Elevate points are worth about 2x to 'regular miles'.
Here are two of my favorite redemptions using Elevate Points: