Full Review of Iberia Visa Signature Card
Huge one-time offer
$1,000 voucher for $30,000 in spending
10% discount on flights
No Iberia flight benefits
- Huge One-Time Offer: Provided you can meet its spending requirements, this card’s twin opportunities to earn bonus Avios (the rewards currency used by Iberia) during the first year of card ownership is one of the most valuable bonuses out there. The bonuses are together worth an estimated $2,100 when used for flights, based on our estimated average value of Avios of 2.1 cents each when redeemed for travel on Iberia, Aer Lingus, or British Airways.First, you earn 50,000 Avios bonus points if you spend $3,000 within the first three months after opening an account. We value this initial bonus at $1,050 when redeemed for flights. You can earn a further 50,000 bonus Avios if you charge an additional $17,000 (for a total of $20,000) to the card during the first 12 months, which adds an extra $1,050 in value to spend on flights.
- $1,000 Voucher for $30,000 in Spending: If you charge $30,000 to the Iberia Signature Visa within a calendar year, you get a generous $1,000 discount when buying two tickets on the same Iberia flight. That’s over 10 times the cost of the card’s annual fee and essentially boosts the card’s rewards value by a third-of-a-cent for the first $30,000, to about 2.4 cents per dollar you spend. The primary cardholder must be one of the two travelers, though, and you must want to go where Iberia flies, a list that’s dominated by destinations in Spain and Latin America. And it’s unclear (and Iberia was unable to clarify) if the $1,000 can be applied only to the two base fares or whether it can also be used to pay taxes and fees.
- 10% Discount on Flights: As a cardholder, you’ll get a 10% discount on Iberia flights for you and up to eight companions if you use your card and book through Iberia.com/Chase10. Taxes and fees are excluded from the discount.
- No Iberia Flight Benefits: Unlike most other airline co-brand cards, the Iberia Signature Visa offers no in-flight benefits. Competing cards, like the AAdvantage Citi Platinum Select World Elite Mastercard, offer such extras as additional free checked bags and discounts on in-flight purchases.
This Card is Best For
Seeks the recognition and perks of branded travel partner status
Flies often for business or leisure
Dines out regularly while traveling or in home city
Travels outside of U.S. on occasion or frequently
The Iberia Visa Signature credit card is best suited to those who fly at least occasionally Iberia and plan to make as little as $1,000 a year in Iberia ticket purchases. With the card’s 10% discount on Iberia flights, that spending level will comfortably justify the card’s $95 fee. Even if your spending falls short of that mark, the $2,000 or so in value provided by the card’s one-time offer obviously makes the fee worth paying, potentially for years to come.Beyond that $1,000 mark, and further spending on Iberia flights continues to enjoy the same discount, including that for the tickets of up to eight companions who accompany you on flights. For those who travel even intermittently in groups to visit Iberia destinations—for visits to family, perhaps—this ongoing discount could easily run to hundreds or even thousands of dollars in savings every year.
Iberia Visa Signature Card Bonus
The card offers the chance to earn up to 100,000 Avios. You’ll earn the first 50,000 bonus Avios after you spend $3,000 in the first three months after opening the card, and an additional 50,000 Avios when you spend $20,000 total during the first year.
Even if you just earn the first half of the bonus, 50,000 Avios can be worth $1,050, based on Investopedia's research, when used for flights on Iberia and its partners.
Rewards Earning Details
Iberia has a partnership with British Airways and Aer Lingus, which also use Avios as their rewards currency, so you’ll earn 3 Avios per dollar spent with those carriers as well as with Iberia. The card also offers 2 Avios per dollar on hotel accommodations and 1 Avios per dollar on everything else. With Investopedia’s estimation that Avios are worth 2.1 cents apiece, those spending levels will earn you flight credits of more than 6, 4, and 2 cents per dollar spent.
A lot of airline credit cards offer just 2 miles per dollar on purchases made with the co-branded airline, so if you fly a lot with Iberia, British Airways or Aer Lingus, you could rack up rewards fast.
Rewards Redemption Details
Iberia is a member of the oneworld alliance, which means that you can redeem Avios not only for flights on Iberia and two other airlines that use the currency—British Airways and Aer Lingus—but for flights with other alliance members as well. Those partners include American Airlines, which expands the possibilities to readily use Avios for domestic flights.As with most frequent flyer programs, you’ll get the best value if you use your rewards for awardflights. But you can also use them for flight upgrades, hotel stays, rental cars and experiences with more than 90 partners.
Since British Airways and Aer Lingus use the same Avios currency as Iberia, members of Iberia Plus have the option to transfer rewards to the British Airways Executive Club or Aer Lingus AerClub. With Iberia’s routes being necessarily limited, that option provides you with a lot of flexibility in using your rewards.
While you can’t transfer Avios earned with Iberia to any of the airline's oneworld alliance partners, you can use your rewards to book flights with those airlines.
How to Maximize Your Rewards
Among the more lucrative ways to redeem your Iberia Avios is for international flights, especially with oneworld alliance partners. You can also get more value for business-class tickets, as a rule. That said, of course, both business-class and most international awards typically demand a lot of Avios, especially when the two are combined. For example, we found a business-class flight from New York City to Prague on Iberia and British Airways for 98,250 Avios plus $844.30 in taxes and fees. The same flight cost $5,581.25 in cash, giving you a value of roughly 4.8 cents per Avios, after deducting the taxes and fees. You can use the Avios calculator to get an idea of how much a flight to your top destination will cost you in rewards.
To determine how much your Avios are worth, divide the ticket’s cash price by the number of Avios you’ll need to book it. For example, divide $1,000 by 100,000 Avios to get 1 cent apiece.
If your award ticket has taxes and fees attached, include that cost in your calculation. For example, if you have to pay $844.30 plus 98,250 Avios to cover a $5,581.25 ticket, you’re effectively using your rewards to cover a $4,736.95 purchase (representing the cash price less the taxes and fees on the award flight).
Iberia Visa Signature Card's Outstanding Benefits
- Baggage-delay insurance: If your baggage is delayed over six hours, you may qualify for up to $100 per day in reimbursements for essential purchases like clothing and toiletries, up to three days total.
- Lost-luggage reimbursement: If you or an immediate family member’s checked or carry-on luggage is damaged or lost by the carrier, you can get up to $3,000 per passenger to replace your belongings.
- Above & Beyond events: As a cardholder, you can redeem your Avios or use your card to access special events, get preferred seating and other benefits, and more.
- Secondary rental-car insurance
- Purchase protection
- Extended warranty
Chase, the card’s issuer, was ranked fourth among national credit card issuers in J.D. Power’s 2019 U.S. Credit Card Satisfaction Study, behind Discover, American Express and Capital One.
The bank provides free access to their VantageScore credit score through its Credit Journey program. You don’t need to be a cardholder to register, though. Also, many card issuers provide free access to your FICO credit score, which is used more by lenders, so having VantageScore access doesn’t provide a lot of value.
Chase offers 24/7 customer service, which is standard for major card issuers, and you can also send a secure message through your online account. You can manage your account online or through the Chase mobile app.
You can lock and unlock your card from the Chase mobile app, which can help prevent fraud if you misplace your card or someone steals it. Many national card issuers offer this feature, but not all of them do.
The card is also contactless-enabled, which allows you to tap your card to a card reader instead of swiping or inserting it. This tap-and-pay feature provides the same security as your card’s chip but faster.
Fees to Watch Out For
For the most part, Iberia Visa Signature card’s fees are standard for the credit card industry and similar airline credit cards. However, there are some airline credit cards that will waive their annual fee for the first year, which can be helpful if you want some time to test out a card.
If you fly Iberia even occasionally, especially with companions, the Iberia Visa Signature card can pay off, thanks in large part to its bonuses. Those benefits start with the card’s 50,000-mile one-time offer if you spend $3,000 in the first three months, and continue for relatively big spenders with an additional 50,000 points if you spend a total of $20,000 within your first year. Then there are the ongoing bonuses: a 10% discount on Iberia flights and a $1,000 flight voucher for spending $30,000 in any calendar year. This card also offers appealing versatility. You can earn Avios at the card’s best rate for traveling not only on Iberia but with British Airways and Aer Lingus. Also, Avios can be redeemed directly not only with those three airlines but with the many other members of the oneworld airline alliance through Iberia’s booking system.