Best credit card sign up offer EVER!

Well, it’s official, you can now get 100,000 miles just for signing up for a credit card and spending $2,000. Check out the British Airways Signature Visa Card. You earn 50,000 miles after your first purchase and another 50,000 miles if you spend $2,000 in the first three months of card membership. In addition to that, you earn 1.25 miles per dollar.

And that’s only the beginning. As Gary (who has brought this amazing deal to our attention) points out, it gets even better:

After spending $30,000 on the card in a year, you’ll receive a certificate for a free companion award ticket when you redeem an award. British Airways allows ‘households’ to pool their miles for an award. So two people each sign up for the card. One puts $2000 in spend to earn the full bonus, the other puts $30,000 in spend to earn a companion certificate. 240,000 miles will be earned, plus a companion certificate. This would allow two people to redeem first class tickets between, say, Los Angeles and Dubai.

While the British Airways award chart is pretty awful and you will pay hefty fuel surcharges, this is probably the best deal out there. For $32,000 spend you’re looking at two first class tickets from the US to Dubai (as Gary suggests), which is less than the cash value of the tickets themselves. South Africa, India, etc., aren’t much more expensive either.

Comments

  1. Just wanted to point out that I will be using 100,000 BA points on CX in a couple weeks to go yyz-hkg(layover)-dps-hkg-pvg(layover)-hkg-yyz in Business. Found the BA points to be worthless for where I want to go, and a very easy booking process with them as well. So the points can be useful when using CX.

  2. The frequent flier blogosphere is going crazy over this. I think everyone is getting so worked up over how *in theory* this is the best offer ever, and *in theory* a family can get 2 FC tickets on BA for “only a $75 annual fee.’

    Some basic realities in the way:

    – The value of 2 FC tix to Dubai is not the cash value, but the what someone is willing to pay (time, interest, effort) for those seats (no one I know would ever pay $32K+ for FC seats anywhere out of their own pocket.

    – Not many have the resources to charge up $32K in the amount of time you’d be sure they don’t discountinue the offer. Plus, who can pay off $32K in charges within the grace period to avoid the $4000+ in annual interest charges?

    This is like in gameshows when they say ‘the actual retail value of XX is $YY.’ when in reality, the market price is 30% less. This doesn’t seem as good of a deal as it seems, because it is very unreachable for most – at least as idealized in the example of getting from 0 to 420K miles ‘just like that!’

    Don’t know why I’m fixated on this…probably because of the pedastal this offer was put on by everyone with ff blogs.

  3. @Eric:
    (1) Even without the companion ticket for $30,000 spend, this is still a GREAT deal. I will admit that I don’t know much about BA’s redemption chart or the taxes/fees they charge for reward tickets. BUT, the best credit card membership offers are normally 30,000 miles. With this you get 100,000. OK, the $75 annual fee isn’t waived for the first year. But that still means you are getting miles at $0.00075 per mile. [OK, you also need to spend $2000 in 3 months. I would think with some planning, most people should be able to manage that….especially with the holidays right around the corner.]

    (2) The $30,000 spend 2-for-1 ticket is for each year that you spend $30,000 for the first two years. It’s not some deal that they will be discontinuing within a few months without notice.

    (3) $30,000 spend in a year unreachable for most? I’m assuming you haven’t heard of the US Mint….
    [Not to mention that for many who are contractors, own their own businesses, or whose companies will reimburse their business expenses on their personal card, that kind of spend is not really out of the ordinary. Obviously, this doesn’t represent “most people”, but there is quite a bit of overlap between those people and the frequent flyer community.]

  4. @Sco —

    All very valid points in response to Eric, who I feel also has very valid points.

    The US Mint deal is done for large purchases… Theres no way one could make a significant amount of the $30,000 in $500 orders here and there…

    Other than that I can see all sides to your statements & at the same time the statements of Eric…

  5. The Terms for the credit card show that you can use a balance transfer to cover the $2,000 in initial spend, so you don’t really even have to spend $2k to get the bonus.

  6. Fine print:

    2 You will receive 50,000 bonus BA Miles with this bonus offer, which can be redeemed for 1 transatlantic reward flight in World Traveller, economy class from the USA to Europe Zone 1, or choose to redeem for another qualifying flight. Europe Zone 1 includes the United Kingdom, Belgium, France, Germany, Ireland, Luxembourg, Netherlands and Switzerland. All reward flights are subject to taxes, fees, charges and surcharges, including airline surcharges.

    Question 1. Does “or choose to redeem for another qualifying flight” mean you can use the miles for award travel to other regions, and in any class?

    Question 2. Interested to know if there’s a chart or tool available to calculate “taxes, fees, charges and surcharges, including airline surcharges.”?

    My wife & I expect to be heading to Singapore sometime in 2010 for my brother’s wedding; this promo would get us both there in C on CX (based on the partner award chart) – now that is assuming:

    Question 3. There would be enough availability for Exec Club Blue members? (perhaps circumvented if one books well in advance).

    Appreciate any guidance on this.

  7. I checked with Chase and they say the link is not a valid Chase link., thus this could be someone trying to get your personal info

  8. @ JR

    I also don’t see the link from BA’s website. The only credit card bonus I can find is 30,000 miles now. Sounds fishy to me.

  9. A fellow FTer asked me about this being a scam, and I looked through the page and there’s nothing fishy.

    When you apply, you are directed to https://applynow.chase.com and it has a valid VeriSign certificate. This is a Chase.com subdomain and that or the valid SSL certificate aren’t something that can be spoofed. Check what your browser says when you go the the applynow.chase.com page if in doubt.

  10. This is a valid offer. I rec’d an e-mail and my sister in another state rec’d a mail in offer. for $75 I think it is worth the gamble when it comes time to try to redeem. I also spoke to Chase and it is a valid offer.

  11. the offer is now right on BA’s U.S. website, so if it’s a scam, it’s a darn good one. i’d say it’s real. . .and it’s fabulous.

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