If you frequently travel between the United States and the UK (or any other location) and you want an amazing credit card rewards program, the British Airways credit card offered by Chase might be the deal for you.
Chase announced in April 2012 that the company was resurrecting its 100,000-bonus miles sign up offer. The card company offered a similar promotion in 2011, but later reduced the bonus to 50,000 miles. Anyone who missed the first offer now has a second opportunity to snag major bonus miles, but you have to act now. While Chase hasn’t announced an expiration date, the company can end this sign up promotion at any time or scale back the bonus miles.
The 100,000-bonus miles sign up promotion isn’t a guarantee. Not every new customer will meet the eligibility requirements. The details of this offer are very specific. As a new customer, you earn 50,000 bonus Avios (Executive Club miles) after your first purchase with the credit card. As a bonus, you earn 25,000 bonus Avios after charging $10,000 to the credit card within the first year, and another 25,000 bonus Avios after charging an additional $10,000 to the credit card within the first year.
The British Airways credit card lets you earn higher rewards on travel. With the majority of other travel reward credit cards, you can earn between 1 and 1.25 miles per every $1 spent. Apply for the British Airways credit card and you earn 2.5 Avios per $1 spent on British Airways and 1.25 per $1 spent elsewhere. You can redeem your travel miles on British Airways, American Airlines, Cathay Pacific and any other Oneworld partner airline. However, if you’re flying between the United States and the UK, you have to book your flight on British Airways to redeem your miles. Other desirable features of the British Airways credit card include no foreign transaction fees and a free companion ticket each year you spend 30,000 on the credit card.
While the 100,000 sign up bonus is a very attractive feature, there’s a downside to this credit card. There is a $95 annual fee, which isn’t waived the first year. This fee is due each year on your anniversary date. It’s a small price to pay if you take full advantage of the credit card and earn all your bonus miles, but in reality, some cardholders will never see 100,000 bonus miles.
It only takes one purchase with the credit card to obtain the initial 50,000 bonus miles, which is easily achievable. But if you’re looking to obtain the additional 50,000 bonus mils and take advantage of all the credit card has to offer, you’ve got to spend the big bucks – at least $20,000 within the first year.
This credit card is perfect for big-spenders — either individuals or corporations — that book frequent airline tickets. While the British Airways credit card isn’t limited to this group and anyone can apply for the credit card, conservative spenders and infrequent flyers aren’t likely to meet the threshold for the 100,000 bonus miles, nor enjoy other incentives, such as the free companion ticket.