Update: This offer for the British Airways Visa Signature® Card has expired. Learn more about the current offers here.
This week Chase introduced the Iberia Visa Signature Card in the US, which came out of left field, as it didn’t seem like there was any info about the card leading up to it being launched. Chase already issues the British Airways Visa Signature® Card. Both airlines are owned by IAG, both programs collect Avios, and both programs are Chase Ultimate Rewards transfer partners, so I guess this is logical enough.
The benefits on the two cards look very similar. Let’s look at the basics of the new Iberia Visa Signature Card:
- Welcome bonus: 50,000 Avios after spending $3,000 within the first three months, plus a further 25,000 Avios after spending $10,000 within the first year (anecdotally the card is not subjected to Chase’s 5/24 rule)
- Annual fee: $95
- Points earning: 3x Avios on Iberia purchases, 1x Avios on everything else
- Other benefits: 10% off Iberia flights when paying with the card; $1,000 discount voucher every calendar year when you spend $30,000 on the card in that period; the discount voucher can be applied towards two tickets
This card has a compelling welcome bonus, the benefits are quite similar to the British Airways Visa Signature® Card, and the card isn’t subjected to 5/24.
Long term I don’t think this card is terribly compelling in terms of the return on spend it offers. If you want to earn Avios, you’re much better off using a card like the Chase Sapphire Preferred® Card or Chase Sapphire Reserve®, which offer bonus categories and those points can be transferred to Iberia Plus. However, the welcome bonus is certainly great, and you can combine your Avios balances to get 150,000 Avios from the two welcome bonuses in one account.
This spring Chase also plans to introduce an Aer Lingus credit card in the US, which I imagine will have a similar welcome bonus and general structure. This is a great development from Chase.