Chase Iberia Card Iberia Co-Branded Credit Card

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Full review

Chase Iberia Credit Card

Recommended for earning the welcome bonus

  • Welcome bonus: 75,000 Avios miles (spend $5,000 in three months)
  • Rewards: 3x on flights with Iberia, British Airways, and Aer Lingus (5x in the first year); 2x on hotel bookings made directly with the hotel (3x in the first year); 1x on all other purchases
  • Redemption: Redeem for Iberia award flights, or award flights with other Oneworld partner airlines such as British Airways; points can be transferred 1:1 with British Airways
  • Annual fee: $95
  • Apply now>>

Highlights

  • Generous sign-up bonus: The miles from the sign-up bonus can still book several flights within the U.S., and transferring them to BA miles to book flights is also a good option. They’re just not very cost-effective in premium cabins on international flights.
  • $1,000 big-spend bonus: Spend $30,000 in a calendar year and you’ll get an extra $1,000 voucher. The voucher can only be used on flights operated by Iberia, and only when the primary cardholder and one companion are traveling on the same flight in the same cabin. If you happen to have that need, that’s effectively an extra 3% cash back on all spending!
  • 10% off Iberia fares: Book through the dedicated Iberia and Chase link (iberia.com/chase10) to get a 10% discount.

Cons

  • The bonus categories aren’t used very often, so everyday earning is limited

Avios Miles Overview

  • Point value: Each Avios is worth about 1.3 cents (points value chart)
  • Redemptions: Avios are mainly priced based on flight distance, and connections are usually priced separately for each segment, so they are best for short nonstop flights. In the U.S., you can redeem them for AA and Alaska flights, and they are also a good option for regional short-haul flights such as U.S. West Coast to Hawaii, Miami to the Caribbean, and partner flights on Cathay and Japan Airlines. See: British Airways Avios guide
  • Redemption advantages: Avios can be redeemed for oneworld flights on British Airways, AA, Alaska, Cathay, Japan Airlines, Qatar Airways, and more. You can also transfer Avios between programs such as British Airways, Iberia, Qatar Airways, Finnair, and Aer Lingus, so before booking you can compare the points required and taxes and fees across programs and choose the one that offers the better deal to ticket the flight. Avios transfer details

My Take

Long-term keeper: If you don’t fly a lot of BA/Iberia every year, or if you can make use of that $1,000 voucher, this is a classic one-year card. In practice, once you’ve met the sign-up spending requirement, you can close it when the annual fee posts in the second year. Of course, if you can use it, this is a killer card. After all, a $1,000 voucher is very generous. Compared with something like the British Airways companion ticket, which waives one person’s fare but still requires you to pay hefty taxes and fees, this straight $1,000 discount is much easier to use.

How to Apply

  • Because this card is co-branded with Iberia, if you already have an IB frequent-flyer number, you can enter it during the application; if not, one will be assigned automatically
  • Chase application status check link (login required). Or call: 888-338-2586
  • The 5/24 rule: if you have opened more than 5 new cards in the past 2 years (including cards from other banks), you will not be approved for a new Chase card
  • You can be approved for at most two Chase credit cards within any 30-day period
  • If you have received the welcome bonus on this card within the past 24 months (48 months for the Sapphire family), your application will be automatically denied
  • You can call the reconsideration line (800-453-9719) to expedite credit card approval or request another review of a denied application.
  • Having a Chase Checking account can help with getting approved for a credit card
  • More information on applying for Chase credit cards

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