The Iberia system is a little odd as you can only buy certain numbers of points. Once you get beyond 10,000 Avios then it must be a multiple of 5,000 Avios, pre bonus.
The maximum you can buy is 200,000 Avios – 300,000 with the bonus – for €3,601. That works out at £3,093 so, basically, 1.03p at the top end if you use a credit card with no foreign exchange fees.
However, for some reason, the Iberia website wants to charge both my wife and myself in US$ at the inflated rate of $5,523 for 300,000 Avios. This is a terrible deal. I don’t understand a) why UK residents are seeing the $ price and indeed b) why the price is so much higher for US customers in the first place.
If you can get the site to display pricing in Euro – which is far cheaper than US$ – the offer runs until 28th February.
(EDIT: it seems that changing the Iberia website to a Eurozone country setting will bring up Euro pricing!)
Remember that you cannot transfer Avios out of an Iberia Plus account until it is 90 days old, so there is no point opening one purely to take part in this offer. If you don’t have an Iberia Plus account, I strongly recommend opening one so that you will have one which is older than 90 days for the next time a good Iberia offer comes along.
IMPORTANT: In the last week I have had two reports of readers being unable to transfer Avios from avios.com to British Airways because they had a BA household account. This is not meant to be the case. Other people have not reported issues. Let me know if you have any trouble.
This HFP article from our ‘Avios Redemption University’ series shows you which is the cheapest way to buy Avios points from all of the options available.
If you want to learn how to redeem Avios points via Iberia Plus, to save a fortune on taxes and charges, take a look at this article in our ‘Avios Redemption University’ series.
(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.)