Credit Cards Credit Card Reviews

Iberia Visa Signature Card Review

overall rating
3.4

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The Iberia Signature Visa has a $95 annual fee and provides rewards in Avios, a rewards currency that can be earned and redeemed with Iberia as well as Aer Lingus and British Airways. You earn 3 Avios points per dollar spent with those Avios airlines and 2 Avios points per dollar on stays booked directly with hotels. The card also offers a massive one-time offer of up to 100,000 Avios provided you meet spending limits.

Iberia Visa Signature® card

Overall Rating
3.4
Iberia Visa Signature® card
On Chase's Secured Site.
Current Offer

Earn up to 100,000 bonus Avios. Earn 50,000 bonus Avios after you spend $3,000 on purchases within the first 3 months of account opening. Plus earn an additional 50,000 bonus Avios after you spend $20,000 total on purchases within your first year of account opening.

Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 15.99% - 22.99% variable
Annual Fee $95
Rewards Earning Rate 3 Avios for every $1 spent on Aer Lingus, British Airways, and Iberia purchases, 2 Avios for every $1 spent on hotel accommodations, and 1 Avios for every $1 spent on all other purchases.
Balance Transfer Fee Either $5 or 5% of the amount of each transfer, whichever is greater.
Foreign transaction fee (%) 0%
how this card stacks up
When compared among all rewards cards in our database:
Rewards
Benefits
Low Fees
Security/Customer Experience
Low Interest
worst best

The Iberia Visa Signature Card is not one of our top-rated airline credit cards. You can review our list of the best airline credit cards for what we think are better options.

Full Review of Iberia Visa Signature Card

Pros
  • Huge one-time offer

  • $1,000 voucher for $30,000 in spending

  • 10% discount on flights

Cons
  • No Iberia flight benefits

Pros Explained

  • 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.

Cons Explained

  • 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

  • Avatar for Loyalty Status Seeker Persona
    Seeks the recognition and perks of branded travel partner status
    Loyalty Status Seeker
  • Avatar for Frequent Flyer Persona
    Flies often for business or leisure
    Frequent Flyer
  • Avatar for Frequent Diner Persona
    Dines out regularly while traveling or in home city
    Frequent Diner
  • Avatar for International Traveler Persona
    Travels outside of U.S. on occasion or frequently
    International Traveler

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. 

Transferring Points

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.

Standard Benefits

  • Secondary rental-car insurance
  • Purchase protection
  • Extended warranty

Cardholder Experience

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.

Security Features

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.

Our Verdict

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.

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For Iberia Visa Signature® card
on Chase's Secured Site.
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CURRENT CARD
Iberia Visa Signature® card
overall rating
3.4
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 15.99% - 22.99% variable
Annual Fee $95
Rewards Earning Rate 3 Avios for every $1 spent on Aer Lingus, British Airways, and Iberia purchases, 2 Avios for every $1 spent on hotel accommodations, and 1 Avios for every $1 spent on all other purchases.
Investopedia Credit Card Rating Methodology
Investopedia is committed to delivering the best credit card recommendations in the industry. We’ll tell you when a card is good, we’ll tell you when a card is bad, and we’ll only call a card the best if we would recommend it to our friends or family members.
Overall Star Rating Explained
To rate credit cards we objectively assess, score and weight nearly 100 individual card features which roll up into five major feature sets: fees, interest, rewards, benefits and security/customer service. Here’s how we weighted those feature sets for the overall star rating of a card:
We have applied our proprietary rating methodology to every generally-accepted credit card in the U.S. domestic market to allow consumers to make fully informed choices. It’s important to note that for our overall score that we make a number of assumptions about how you would be using your credit card:
  1. While we make no assumption as to whether balances are carried on a given card we do assign varying weights to all credit cards’ introductory APR (if present) in addition to the regular, long term purchase and balance transfer interest rates.
  2. We utilize BLS (U.S. Bureau of Labor Statistics) income and average category spending data to calculate annual earnings rates for rewards cards that offer cash back, points or miles rewards at a set rate on all spending or in consideration of bonus rewards for certain spending categories, like gasoline, groceries, restaurants or travel.
  3. We determine the maximum points value of rewards cards by dividing the points, cash back or miles required to exchange for the retail price of the most valuable redemption option (for example, in the case of a card that offers a domestic roundtrip airline ticket as a redemption option vs. another redemption option of lesser value that requires the same amount of points or miles to acquire, we would base the rewards value on the airline ticket).
  • Cards that are selected best overall in their respective categories generally feature most if not all of the following attributes:
  • Low or Reasonable Fees Credit card fees come in many forms but the primary ones involve those for annual card membership and balance transfer. There are a myriad of reward and non-reward card options that charge no annual fee but for the many that do assess an annual fee the cost is often justified by their lucrative ongoing rewards and initial signup bonuses. Balance transfer fees are occasionally waived during introductory periods with certain cards, a factor which is heavily and positively weighted in our scoring model for cards offering this benefit. When charged, balance transfer fees range between 3% - 5%, which we grade accordingly. Other standard fees can generally be avoided, such as those for paying late or taking cash advances but we rate those relative to other cards in the market for reference, though with less weight assigned
  • Competitive Interest Many cards offer 0% introductory APR on purchases and balance transfers for varying lengths and then revert to a permanent or regular APR (based on a variable rate tied to the prime rate) that applies to any balances not paid in full. We rate both introductory APR percentage and length (in months) along with the midpoint of the variable regular APR interest rate range.
  • Valuable Rewards Credit card reward programs can be based on cash back, points or travel rewards (which can be generic or travel partner-specific, as with airline and hotel co-brand card programs). For cards that offer rewards we determine the value per dollar spent along with average redemption values and assign more favorable ratings to cards that offer superior consumer value. We also assign value to sign-up bonus offers and their initial spending requirements, when present.
  • Excellent Benefits Credit card benefits cover a range of offerings like concierge service, TSA Pre-check, auto rental coverage, travel accident insurance, lost luggage assistance and free credit scores. We rate cards on the number and level of over a dozen standard and upscale benefits and provide extra weighting emphasis for those travel-related perks that apply to premium travel cards when present.
  • Solid Security/Customer Service Security and customer service features like lost or stolen card replacement, being able to lock one’s card from an issuer app and 24 hour customer support are becoming more standard across the card market and we provide a significant amount of weighting to features in this area.
  • You can also read the full version of our methodology for a more in-depth look at how we assess cards and award them the best in various categories.