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Iberia is offering one of the most lucrative airline promotions that’s come around in a long time. Until June 24, the airline will give you 9,000 Avios for any purchased flight operated by Iberia, Iberia Express or Iberia Regional Air Nostrum — either one-way or return — up to 90,000 Avios.

Through June 24, you can earn 9,000 Avios for each ticket purchased on Iberia.com. The Avios will be awarded to your account within 10 days of the ticket purchase. Throughout the entire promotional period, you can earn a maximum of 90,000 Iberia Avios — by purchasing a maximum of 10 tickets.

While the 90,000 Avios are worth a lot on their own, what makes this promotion even more valuable is that the terms and conditions are very generous. The Avios are awarded to your account within 10 days of purchasing the ticket — not within 10 days of flying. So, you could purchase 10 cheap one-way tickets at once by June 24 and, within 10 days, get 90,000 bonus Avios.

Iberia says that if the customer decides to refund the ticket, the Avios will be withdrawn from their account. However, the terms say that if the customer buys the ticket and doesn’t fly, “he will be able to keep those promotional Avios.” So, theoretically, if you miss your flight, you’ll be able to keep the Avios.

Additionally, Iberia Plus Card holders will get the 9,000 bonus Avios per booking even if they’re with other carriers (like British Airways) — as long as one booking is made with Iberia, Iberia Express or Iberia Regional Air Nostrum. You can find the terms and conditions and book here.

The only major restriction mentioned in the terms and conditions states that the Avios earned as part of this promotion must be redeemed by December 1, 2018. If the up to 90,000 bonus Avios aren’t redeemed by that date, they’ll be removed from your account. In addition, the promotion is only available if you’re buying tickets through Iberia.com in the following countries: Spain, France, Italy, Germany, Portugal, Russia, United Kingdom, Switzerland, the Netherlands, Brazil, Argentina, Colombia, Chile, Peru, Mexico and the US, regardless of the origin of the flight.

Be forewarned that this promotion is extremely generous, almost too generous, and TPG Senior Points and Miles Contributor Richard Kerr has expressed deep misgivings about whether it will be honored by Iberia in the end. Consider the risks involved before you pay for flights that you don’t intend to use just to potentially earn bonus Avios that definitely come with a set expiration date.

If you do feel the risk is acceptable, how do you take advantage? To make it easy, there is no registration required. Instead, you’ll just need to make sure your Iberia Plus number is entered when you make the new reservation.

Maximize This Promotion

Where this promotion can be maxed is when buying cheap tickets. To search, go to Google Flights and use the explore function for flights departing from Madrid (MAD), which is Iberia’s home. Then, separate the results by carrier to Oneworld and take a scan around the map. Some of the cheapest are from Palma de Mallorca (PMI) to Madrid (MAD) — for just $35 one-way. So, you could purchase 10 of the $35 tickets for $350 and get a whopping 90,000 Avios in return.

Iberia Avios are different than British Airways Avios, but there are some sweet spots. You can book off-peak flights to Europe in Iberia’s premium economy for just 25,500 Avios one-way, and you’ll generally pay much lower taxes and surcharges when booking through Iberia. Some reports suggest that you might not be able to transfer these Avios to British Airways Avios or it’ll result in a negative Iberia balance. However, typically, you can also transfer Iberia Avios to British Airways Avios (1:1) to utilize the sweet spots that mileage-based program.

Additionally, Iberia sometimes offers promotions — such as flying in lie-flat business class from the US to Europe for 25,500 Avios. Last year TPG Contributor Eric Rosen reviewed Iberia’s business class on the A340-600 between JFK and Madrid and wrote that “the seats were comfortable for working, eating and sleeping, and I managed to get as much rest as possible. The entertainment system was quite good and easy to use and the service was charming.”

If you’re intrigued by this offer, be sure to act quick. It’s only valid for tickets purchased by June 24.

This story has been updated to reflect the potential risks involved in this promotion, as written about by TPG Senior Contributor Richard Kerr.

The Platinum Card® from American Express

The American Express Platinum card has some of the best perks out there: cardholders enjoy the best domestic lounge access (Delta SkyClubs, Centurion Lounges, and Priority Pass), a $200 annual airline fee credit as well as up to $200 in Uber credits, and mid-tier elite status at SPG, Marriott, and Hilton. Combined with the 60,000 point welcome offer -- worth $1,140 based on TPG's valuations -- this card is a no-brainer for frequent travelers. Here are 5 reasons you should consider this card, as well as how you can figure out if the $550 annual fee makes sense for you.

Apply Now
More Things to Know
  • Earn 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months.
  • Enjoy Uber VIP status and free rides in the U.S. up to $15 each month, plus a bonus $20 in December. That can be up to $200 in annual Uber savings.
  • 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel.
  • 5X Membership Rewards points on prepaid hotels booked on amextravel.com.
  • Enjoy access to the Global Lounge Collection, the only credit card airport lounge access program that includes proprietary lounge locations around the world.
  • Receive complimentary benefits with an average total value of $550 with Fine Hotels & Resorts. Learn More.
  • $200 Airline Fee Credit, up to $200 per calendar year in baggage fees and more at one qualifying airline.
  • Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue on your Platinum Card®. Enrollment required.
  • $550 annual fee.
  • Terms Apply.
  • See Rates & Fees
Intro APR on Purchases
N/A
Regular APR
N/A
Annual Fee
$550
Balance Transfer Fee
See Terms
Recommended Credit
Excellent/Good
Terms and restrictions apply. See rates & fees.

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.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.