As some of you may recall, as of October 1, 2015, the transfer ratio from Membership Rewards to both British Airways and Iberia was devalued by 20%, from 250:250 to 250:200. This may have had to do with credit card politics, as British Airways’ co-branded credit card is issued by Chase, so perhaps they didn’t want American Express having the same lucrative transfer ratio.
Through December 31, 2015, the US American Express Membership Rewards program is offering a 25% transfer bonus to Iberia. This essentially means that the transfer ratio from Membership Rewards to Iberia is once again 1:1 for a limited time.
The bonus is hard coded into the transfer ratio, meaning that you can take advantage of the transfer bonus as often as you’d like.
A bit over a month ago Tiffany wrote about the benefits of using the Iberia Avios program. While it’s very similar to British Airways’ program, there are also quite a few differences. Iberia also has a distance based award chart, but it’s slightly different in terms of redemption rates.
But what will probably be most interesting to people about this transfer bonus is that you can transfer Avios between the Iberia and British Airways program, provided the following is true:
- Both accounts have been open for at least 90 days
- Both accounts have had some activity (which can be transferring a handful of points from Membership Rewards or SPG, crediting a flight, etc.)
Presumably the biggest barrier for most is needing to have the account open for 90 days, so if you don’t have an Iberia Plus account yet, I’d recommend going ahead and opening one now, so that the 90 day counter starts.
When the transfer ratio between Amex and British Airways/Iberia was devalued, I suspected we’d see quite a few transfer bonuses between the programs. While we haven’t seen a transfer bonus to British Airways yet, the transfer bonus to Iberia basically serves the same purpose, so is a nice way to at least get a 1:1 transfer ratio. Hopefully we’ll see some even bigger transfer bonuses in the future.
In the meantime, this is a nice way to fund your British Airways Avios account, if you have a use for them. British Airways shorthaul North America awards are being devalued as of February 2, 2016, so this is a great time to redeem British Airways Avios.
Do you plan on transferring Amex points to Iberia with a 25% bonus?
(Tip of the hat to Mac)