Most frequent flier programs offer only free airline trips, hanging out in posh airport lounges and a few other goodies. Now, Virgin Airlines offers one its lucky frequent fliers a free trip into outer space.

Richard Branson and his Virgin Galactic planners have been working on putting commercial flights into space for the past decade. The future seems to be getting closer, and they hope within the next few years to schedule space tours through Earth's atmosphere and beyond.

Until August 7, 2013, Virgin offers its top frequent flier the chance to upgrade to Galactic status. Whoever accumulates the most points by that date will win a free passage aboard the Virgin Galactic SpaceShipTwo space vehicle, a $200,000 value. Some 500 eager passengers, including celebrities, have already bought tickets.

The second-place winner of the contest will get a free zero-gravity floating fun flight in a passenger jet. For more information, go to virgingalactic.com