AwardWallet receives compensation from advertising partners for links on the blog. Terms Apply to the offers listed on this page. The opinions expressed here are our own and have not been reviewed, provided, or approved by any bank advertiser. Here's our complete list of Advertisers.
Offers for Bank of America cards mentioned in this post have been updated as of 09/28/2023
This Iberia buy Avios promotion has ended. However, you can still purchase Iberia Plus Avios here.
Now through October 31, 2023, Iberia Plus loyalty members can buy Avios with a 25% bonus. If maximized, U.S. account holders can buy Avios for as little as 1.84¢ each. However, members whose account is based in the European Union and the United Kingdom can buy Avios at a better rate. Members based in the E.U. can pay as little as 1.79¢ per Avios, while U.K. members pay just 1.72¢ each.
Since a majority of AwardWallet members are based in the United States, all pricing mentioned will be in USD. While the pricing for U.S. account holders is slightly more than the E.U. and U.K., we will use the 1.84¢ per Avios value for all examples.
Just keep in mind that if you have an E.U. or U.K. account, you will be able to grab Avios and flights for slightly less than what's stated.
A Note on Buying Avios
We never recommend buying miles speculatively. Programs can devalue at any time, long-term travel plans can change, and the last thing anybody needs is a substantial investment in a currency they can't use. That said, there are a few circumstances where buying points and miles could represent terrific value, especially when they're on sale.
If you only need a few more points to complete a redemption, buying points can be the simplest and fastest way. Moreover, if you're considering paying a cash rate for a premium-class product or a particularly expensive route, it may be possible to save money by buying the necessary points for an award redemption instead. In either case, it's best to have a plan before making a purchase.
Key Terms for This Buy Iberia Avios Promotion
- Promotion valid on Avios purchases made through October 31, 2023, at 11:59 p.m. CET.
- Buy at least 2,000 Avios to receive the 25% bonus.
- Iberia loyalty members may purchase a maximum of 200,000 Avios (250,000 with the bonus) per calendar year.
- Purchased Avios are non-refundable.
- Avios purchases are processed in Euros, Great British Pounds, or U.S. Dollars, depending on the registered country of the Iberia Plus account.
- You cannot purchase Avios if your current balance is 0 Avios, so you may have to transfer some Chase Ultimate Rewards (transfers are immediate) to your account.
- Check out all the terms and conditions here.
Be aware, the wording for this promotion can be slightly deceiving. Although members will receive 25% bonus Avios regardless of how many are purchased, the cost per Avios decreases ever so slightly the more you buy — so the more you buy the better the value.
All three account types (U.S., U.K., and EU) will receive the best price per Avios when purchasing 200,000 Avios (250,000 including the bonus).
If You Can, Buy Iberia Avios in British Pounds
The rate for buying Iberia Avios depends on the country where your Iberia Plus account is registered. That means the cost per Avios will be better in one country than the others. That country (this time) happens to be the U.K. Here are how the prices break down for each currency ($1 USD = 0.95 euro and $1 USD = 0.82 pounds):
- 250,000 Avios (with bonus) in USD = $4,599 (1.84¢ per Avios)
- 250,000 Avios (with bonus) in EUR = €4,245 (equal to $4,470 USD which is 1.79¢ per Avios)
- 250,000 Avios (with bonus) in GBP = £3,539 (equal to $4,304 USD which is 1.72¢ per Avios)
(USD and EUR examples below)
Although the best value comes when purchasing Avios with GBP, Iberia has significantly lowered its fixed prices for U.S. account holders. The premium for buying the same amount of Avios in USD compared to EUR or GBP has dropped significantly, making it much more appealing for U.S. account holders.
Members used to be able to trick Iberia into changing the currency to GBP or EUR by simply changing their region preference to the UK or Europe:
However, Iberia has closed this loophole. Now, “the transaction currency will be pre-determined based on the registered country of the Iberia Plus account.” With that being said, Iberia doesn't ask for proof of residency when changing the address on your account…
When Does Buying Iberia Avios Make Sense?
It's possible to find tons of value in Iberia's Avios program, as long as you know where to look. Some of our favorite uses for Avios are on off-peak Iberia flights in business class across the Atlantic and short-haul flights on AA. Let's take a look at some of these sweet spots to see if you can save money by buying Avios instead of paying a cash rate.
Chicago — Madrid in Iberia business class
- Mileage rate: 68,000 Avios + $308.31 round-trip
- Cash price: $5,129 round-trip
- Redemption rate: 7¢ per Avios
- Cost to purchase 68,000 Avios (at 1.72¢ each): $1,170
- Cost to purchase 68,000 Avios (at 1.79¢ each): $1,217
- Cost to purchase 68,000 Avios (at 1.84¢ each): $1,251
Charlotte — Grand Cayman in American Airlines economy
- Mileage rate: 18,000 Avios + $91 round-trip
- Cash price: $596 round-trip
- Redemption rate: 2.8¢ per mile
- Cost to purchase 18,000 Avios (at 1.72¢ each): $310
- Cost to purchase 18,000 Avios (at 1.79¢ each): $322
- Cost to purchase 18,000 Avios (at 1.84¢ each): $331
Los Angeles — Vancouver in American Airlines business class
- Mileage rate: 33,000 Avios + $151 round-trip
- Cash price: $1,138 round-trip
- Redemption rate: 3¢ per mile
- Cost to purchase 33,000 Avios (at 1.72¢ each): $568
- Cost to purchase 33,000 Avios (at 1.79¢ each): $591
- Cost to purchase 33,000 Avios (at 1.84¢ each): $607
Maximizing Your Purchase
Points.com processes purchases of Iberia Avios. Therefore, the purchase won't code as travel if you use one of the best credit cards for travel purchases. Instead, use one of these credit cards:
- Any credit card where you're working on a sign-up bonus. These are the best welcome offers available right now.
- Any credit card with perks you can unlock from spending, such as hotel free night awards, hotel elite status, or airline elite status.
- Your best credit card for everyday spending, such as the Capital One Venture Rewards Credit Card or Bank of America® Premium Rewards® credit card.
Since the best price comes when paying in GBP, make sure you're using a card with no foreign transaction fees.
Other Ways to Earn Iberia Avios
One of the easiest (and cheapest) ways of topping off your balance is by transferring points from partners. For Iberia, it's particularly easy to accumulate Avios as it's a transfer partner with three of the five major currencies, including:
Transfers can be particularly useful if there's a transfer bonus to British Airways, Aer Lingus, or Qatar. Members can take advantage of the transfer bonus and then move the Avios to Iberia freely and instantly.
Finally, you can earn Iberia Avios through a co-branded credit card sign-up bonus and daily spending. Chase partners with all three of the IAG partners, and — since Avios can be transferred interchangeably — you can utilize any of them to earn a respectable amount of Iberia Avios:
- Earn 75,000 Avios after you spend $5,000 on purchases within the first three months of account opening.
- Earn 3 Avios per $1 spent on purchases with Iberia, British Airways, Aer Lingus, and LEVEL.
- Earn 2 Avios per $1 spent on hotel accommodations when purchased directly with the hotel. Plus earn 1 Avios per $1 spent on all other purchases.
- Save 10% on Iberia flights purchased on iberia.com/Chase10
- Earn a discount voucher of $1,000 to use toward two tickets on the same flight for each year you make purchases of $30,000 on your card
- Pay no foreign transaction fees when you travel abroad.
- Simply tap to pay with your contactless Iberia Visa Signature Card. Just look for the contactless symbol at checkout. It's fast, easy and secure!
- Member FDIC
- 3X Avios per $1 spent on purchases with Iberia, British Airways, Aer Lingus, and LEVEL
- 2X Avios per $1 spent on hotel accommodations
- 1X Avios for every $1 spent on all other purchases
Iberia Airlines Partners
When most people think of Avios, the first airline that usually pops into mind is British Airways. However, four major airlines use Avios as their mileage currency: British Airways, Iberia Airlines, Aer Lingus, and most recently Qatar Airways. Plus, Finnair plans to adopt Avios in early 2024.
Avios that are earned in any of these four airline programs can be transferred to each other at a 1:1 ratio — with no transfer fees charged.
Iberia was one of the first members to join the Oneworld alliance — one of three major airline alliances. As a result, Avios that you earn through Iberia can also be used on any one of the 13 different Oneworld members:
- Alaska Airlines
- American Airlines
- British Airways
- Cathay Pacific
- Japan Airlines
- Malaysia Airlines
- Qatar Airways
- Royal Air Maroc
- Royal Jordanian
- SriLankan Airlines
Plus, Iberia Plus members will be able to redeem Avios for flights on Oman Air once it joins the Oneworld Alliance in 2024. In addition to Oneworld partners, Iberia maintains partnerships with five non-alliance partners: Vueling, LEVEL, LATAM, Avianca, and Binter Canarias.
Iberia's program has its quirks, for sure, but it also presents several distinctive sweet spots. It's also a huge win that the premiums for U.S. account holders to buy Avios have decreased significantly in recent memory, making it less punitive to buy Avios in USD. While we never recommend buying miles speculatively, a 25% bonus provides a few scenarios where it's possible to come out ahead. Just make sure you have a plan.
Are you buying Iberia Avios with a 25% bonus?
The comments on this page are not provided, reviewed, or otherwise approved by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.