I normally do not recommend buying airline miles 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.
The bonus is staggered:
10% bonus when you buy 8,000 – 10,000 Avios
15% bonus when you buy 15,000 – 20,000 Avios
25% bonus when you buy 24,000 – 35,000 Avios
At the top end, you will be paying Euro 665 for 43,750 Avios (35,000 + 25%). This works out at 1.13p per Avios, based on £493. 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 at this price. However, with the deadline of April 28th to book Avios flights at the old redemption rates, you may want to consider it.
It is worth noting that the collapse in the value of the Euro recently makes this deal a lot better than it was in the past. When a similar offer ran last year – with a higher 30% bonus – you were actually paying more in £ terms (1.22p each) because of the prevailing € exchange rate.
The number of ways of earning Avios before April 28th is not huge because many offers take time to hit your account. It is too late to earn Tesco Clubcard points, for example, because the next set of vouchers will arrive too late.
There ARE still some credit card deals you can get which WILL get the miles in your account before April 28th as I wrote about earlier in the week.
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.
At the end of the day, the Iberia Avios sale price is cheaper than buying Avios via BAEC or avios.com – which are not currently on sale – where you will pay £575 for 35,000 (1.64p).
If you have an American Express Gold or Platinum card, remember that you can buy up to 10,000 Membership Rewards points for 1.5p each per year (by phone only). Transfer those into Avios and you are paying 1.5p per point – more than Iberia wants but less than BA is charging.
The other aspect of interest is the bonus on transferring Avios to someone else (ie your partner!). This is also a poor deal. Transferring the maximum 24,000 Avios to someone else incurs a fee of €160. Assuming that you receive (25% x 24,000) 6,000 Avios as a bonus, you will have effectively paid €160 for them. That works out at 2.0p per Avios – very poor indeed.