As I first wrote about in February, Alaska Airlines has been planning on increasing the sign-up bonus on their co-branded Bank of America credit card, from 25,000 miles to 30,000 miles. This was found in their 10-K SEC filing at the time, as they expected a higher bonus would bring them even more business.
Well, the increased sign-up bonus on the Alaska Airlines Visa Card is now live. Specifically, the card is offering a sign-up bonus of 30,000 Mileage Plan miles, plus a $121 companion certificate ($99, plus taxes and fees starting at $22), after spending $1,000 within 90 days. The card has an annual fee of $75, which isn’t waived the first year.
This definitely isn’t a mega sign-up bonus, but Alaska Mileage Plan miles are quite valuable, thanks to the wide array of international airline partners they have, and that they allow stopovers on one-way awards. Furthermore, if you live in a city served by Alaska Airlines, that companion certificate can be extremely valuable.
However, some might still prefer another version of the offer which is out there, offering 25,000 Mileage Plan miles upon account approval, plus a $100 statement credit after spending $1,000 within 90 days. That version of the offer also comes with an annual companion certificate.
So you can choose between a $100 statement credit or an additional 5,000 miles, making the breakeven point a value of two cents per Alaska mile. Personally I value Alaska miles at 1.8 cents each, so I’d still take the offer for 25,000 miles plus a statement credit upon completing minimum spend.
While it’s nice to see the official standard sign-up bonus increased, for now there are still links offering 25,000 miles plus a $100 statement credit, which are arguably better. If you don’t yet have the card I do think it’s worth picking up, as I doubt the bonus will go much higher anytime soon.
(Tip of the hat to Doctor Of Credit)