Update: Some are saying they don’t see the offer on the Alaska Airlines homepage, though I see it without being logged in, so this may be a case of “your mileage may vary.”
Alaska Airlines Mileage Plan miles are one of the most valuable mileage currencies out there on a per mile basis, in my opinion. The miles aren’t especially easy to earn, given that they don’t partner with Amex Membership Rewards, Chase Ultimate Rewards, or Citi ThankYou.
Back in the day the bonus on the card typically only went as high as 25K miles. Then it became 30K miles. Lately we’ve seen targeted bonuses of 40K miles, though only for residents of certain states where Alaska is trying especially hard to grow market share.
However, now it looks like the Alaska Airlines Visa Card has a public 40K mile welcome bonus, as it’s showing up directly on alaskaair.com. With this, the card is offering 40,000 bonus miles plus an Alaska companion ticket after spending $2,000 within the first 90 days.
The Alaska companion ticket is a great deal, as it gives you a zero dollar fare, and you just have to pay the taxes and fees, which start at just $22. This is valid for virtually all economy tickets anywhere Alaska flies, and the companion is even eligible for mileage accrual, upgrades, etc.
The card has a $75 annual fee that isn’t waived for the first year.
While this isn’t a card I recommend putting a lot of spend on, it is a card that’s worth holding onto long term, in my opinion, assuming you ever fly Alaska. Personally I hold onto the card for the companion certificate. After the first year it’s a $99 companion certificate (plus taxes and fees starting at $22), so “all-in” I’m paying under $200 per year for that, and I consistently redeem it for more expensive tickets.
The card also offers a free checked bag on Alaska flights for you and up to six other guests on the same reservation, assuming that’s something you’d get value out of.
So if you’ve been considering this card, this is an excellent time to apply.
(Tip of the hat to @newdaybegin1984)