Let’s party like 2008!
With the IAG share price falling fast, the word has clearly gone out that cash needs to start coming through the door. We have already seen British Airways offering a 35% bonus on point transfers from hotel loyalty programmes (which means BA receives a large cheque from the hotel company). I would even be willing to bet on seeing a Tesco conversion bonus soon!
I normally do not recommend buying Avios unless you need to ‘top up’ an account for an immediate redemption. With a few exceptions, buying a large proportion of the miles you need is rarely a good deal.
Note that you need to log-in to see details of the bonus offer. Without logging in, the page just shows the standard pricing.
There is no minimum purchase. Even a 2,000 Avios purchase gets you 1,000 bonus Avios.
At the top end, you will be paying Euro 1,800 for 150,000 Avios (100,000 + 50%). It is slightly foolish putting in an exchange rate as it will be hopelessly out of date by the time you read this, but assuming €1.20 this works out at exactly 1.0p per Avios. You would need to add a 3% foreign exchange fee to this price if your credit card has one.
I would not usually be a buyer, even at this price. 1p per Avios is usually my target value when I redeem, not my target price to buy. Your personal valuation may be different – if you only ever redeem using 2-4-1 vouchers, for example, you are likely to value a point more highly. It may make sense for you if:
you have a specific redemption in mind where you know you will get over 1p per point of value
you value the ‘easy points’ aspect of this offer (no need to visit Tesco, apply for a new credit card etc etc)
You MUST have been an Iberia Plus member for 90 days before you can buy points. You must also have a balance greater than zero. This is easily fixed if you have previously earned an Avios via Iberia with a transfer in from British Airways. If you have never earned an Avios via Iberia Plus then you are stuck and cannot buy until a transaction has gone through your account.
(Want to earn more Avios? Click here to visit our home page for the latest articles on earning and spending your Avios points and click here to see how to earn more Avios from current offers and promotions.)