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Chase and Iberia just launched a co-branded credit card: the Iberia Visa Signature Card. And the card is coming out swinging with up to a 75,000 Avios bonus, plus an opportunity to earn a $1,000 discount voucher after meeting spending requirements.
For those who aren’t familiar with Iberia Avios, there are some great uses of this mileage currency. Right now, you can book one-way business-class awards to Europe from just 25,500 Avios — a steal compared to what most mileage programs would charge. During non-promotional times, you can book off-peak flights to Europe in Iberia’s premium economy for just 25,500 Avios one-way. Or, you can also transfer Iberia Avios to British Airways Avios (1:1) to utilize the sweet spots that mileage-based program.
Sign-Up Bonus: This card offers two tiers to the sign-up bonus:
- 50,000 bonus Avios for making $3,000 in purchases within 3 months of account opening
- 25,000 bonus Avios for making an additional $7,000 in purchases (for a total of $10,000) within 12 months of account opening
The terms and conditions restrict “current cardmembers of this credit card” as well as “previous cardmembers of this credit card who received a new cardmember bonus for this credit card within the last 24 months.” Considering this is a brand-new card, no one should be limited by these restrictions at this time.
Earning From Spending: Cardholders will earn 3 Avios points for each dollar spent on “flight purchases made directly with Iberia, British Airways, Iberia, LEVEL and OpenSkies.” All other purchases will earn 1x Avios.
$1,000 Discount Voucher: A unique feature of this card is the ability to earn a $1,000 discount voucher toward Iberia flights for making “$30,000 in purchases in a single calendar year.” Only one discount voucher can be earned per calendar year. The voucher will come in the “form of a code that can be applied by a Cardmember for a discount of $1,000 when purchasing two tickets, for the same flights in the same class of travel.” Seemingly, the $1,000 voucher can only be used to discount the base fare.
10% Off Flights: Just like the British Airways Visa Signature Card, this card will save cardholders 10% off Iberia-operated flights booked through a dedicated booking page. We will need to test this discount to see if all Chase cards work for the discount — like with the British Airways 10% off discount.
Annual Fee: $95 per year. Unfortunately, this annual fee isn’t waived for the first year.
My Application: I applied for this card this afternoon to see if Chase had indeed fully launched this card. Unfortunately, my application went pending. When I called Chase’s reconsideration line, the Chase agent noted that this is the first Iberia card that she’s processed and apologized for taking extra time.
From this call, I found out that the minimum credit line required to be approved for this card is $5,000. And the reason my application went to pending online was Chase wasn’t comfortable extending more credit to me at this time. However, I was able to reduce my overly generous Chase Sapphire Reserve credit line by $5,000 to be approved for this new card.
As I was approved despite being far above 5/24, it seems that Chase isn’t restricting these cards to those under 5/24 at this time.
The information for the Iberia Visa Signature Card has been collected independently by The Points Guy. The card details on the page have not been reviewed or provided by the card issuer,.
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NEW INCREASED OFFER: 60,000 Points
TPG'S BONUS VALUATION*: $1,200
CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners
*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
- 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel