Here’s how to earn 40,000 miles and Alaska’s Companion fare with this card offer

Jul 3, 2022

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Editor’s note: This is a recurring post, regularly updated with new card offers and information.


While Alaska Airlines Mileage Plan miles are some of the hardest frequent-flyer miles to earn, they’re also some of the most valuable out there.

And if you’re planning a trip — especially when it comes to international travel — you’ll be grateful for stocking up on this lucrative currency now. Alaska joined the Oneworld alliance in 2021, opening the door to a global network of alliance partners, more ways to earn and redeem miles, and reciprocal elite benefits.

In fact, the airline just added redemptions on a new partner (Air Tahiti Nui) — with very attractive award rates.

The airline is currently posting a welcome offer on the Alaska Airlines Visa Signature® credit card of 40,000 bonus miles plus an Alaska Companion Fare for $0 (you just need to pay taxes and fees, starting from just $22). To qualify, you’ll have to make purchases of $3,000 or more within the first 90 days of opening your account.

While this isn’t the best sign-up bonus we’ve seen on the Alaska Visa, it could be a great option for those looking to plan trips this fall or into early 2023.

Here’s what you need to know about this offer.

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In This Post

The Alaska Airlines card offer

Alaska Airlines plane landing in San Jose
(Photo by Sundry Photography/Shutterstock)

New cardholders of the Alaska Airlines Visa Signature Card can earn 40,000 bonus miles plus Alaska’s Companion Fare ($0 fare plus taxes and fees from just $22) after making $3,000 in purchases within the first 90 days of account opening. Based on TPG’s valuations, the 40,000 miles are worth $720. However, you could get hundreds of dollars of additional value from the companion fare perk.

The card has a $75 annual fee that is not waived the first year.

Now, we have seen higher offers for this card in the past, but if you’re looking to earn bonus miles (and the companion fare) now for your summer or fall trips, this is a decent offer.

However, Alaska will often offer targeted bonuses on the final page when booking a flight online, so be sure to try that avenue to see if you receive an even better offer.

Related: A full review of the Alaska Airlines Visa Signature card

Card benefits

Alaska Lounge SFO
Alaska Lounge San Francisco International Airport (SFO). (Photo courtesy of Alaska Airlines)

The card itself comes with a nice lineup of perks and benefits. You’ll earn 3 miles per dollar on eligible Alaska Airlines purchases, receive a free checked bag on Alaska Airlines flights and enjoy 20% inflight savings in the form of a statement credit.

In addition, the companion fare benefit is actual an annual perk that’s granted to cardholders each year your account is renewed. However, in subsequent years, your companion’s ticket will have a base fare of $99 (plus taxes and fees starting at $22) — though that can still lead to some substantial savings on flights.

Related: How to book free stopovers with Alaska Airlines Mileage Plan

Why Alaska Airlines miles are so worthwhile

Alaska Airlines has managed to build an incredibly valuable frequent flyer program through an array of partnerships with several top-notch carriers.

Between a smattering of different partners that can provide outsized value (to those who know how to finagle the right partner redemptions) and the ability to book free stopovers, the Alaska Airlines Mileage Plan program is one of our favorites here at TPG.

And they’ve rejoined forces with American Airlines and officially joined the Oneworld alliance as of April 2021.

Use your Alaska Airlines miles to book a Cathay Pacific first-class seat. (Photo by Emily McNutt/The Points Guy)

One of my favorite uses of Alaska miles is to book Cathay Pacific’s incredibly luxurious premium cabins. One-way awards from the U.S. to Asia are only 50,000 miles in business class or 70,000 miles in first class — though the future of the carrier remains in flux.

Related: Here’s why Alaska Airlines miles are the most valuable

Bottom line

This current offer on the Alaska Airlines Visa Signature may not be the highest it’s ever been, but it does offer the chance to earn a decent haul of miles and a valuable companion ticket (with a $0 base fare) for your upcoming trip.

Make sure to brush up on the rules for applying for Bank of America cards, including the 2/3/4 rule, limiting consumers to only being approved for up to four new cards in a 24-month period.

Alaska miles offer some of the best value premium cabin redemptions, so if you’re in the market for a new airline card, this one is a compelling option.

Additional reporting by Stella Shon, Ethan Steinberg and Joseph Hostetler.

Featured photo by Zach Griff/The Points Guy.

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Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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