Iberia Visa Signature Card Review 2024

Chase’s Iberia Visa Signature® Card earns Avios, the rewards currency of the Iberia Plus program and all other programs under the International Airlines Group (IAG) which includes Iberia, British Airways, Aer Lingus, LEVEL and Vueling. Qatar Airways, a shareholder in IAG, now uses Avios as its currency as well.

Points and miles enthusiasts like Avios because the program provides more options and flexibility than many other loyalty programs. Not only can they be transferred between several major Avios-using airlines but most of the major credit card rewards programs include one of these airlines as a transfer partner, making it easier to stockpile and use the currency. Add in the fact that Iberia typically keeps loads of seats open so families can easily utilize this program and you’ll see that Avios has something to offer for nearly everyone who flies.

Chase’s Iberia Visa Signature® Card comes with a generous and appealing welcome bonus: 85,000 Avios after spending $5,000 on purchases within the first three months of account opening. While this may appear to be an incredible deal on the surface, the spending requirement to receive the full bonus and unlock all the benefits may be too steep for some.

But, if it’s attainable for you, the card’s perks can provide real value. Arguably one of the best is Iberia’s $1,000 discount voucher, awarded when cardholders spend $30,000 in a year. This benefit is available every year with $30,000 spending on the card.

• $95 annual fee
• Earn 85,000 Avios after spending $5,000 on purchases within the first three months of account opening
• 3 Avios per dollar on purchases with Iberia, British Airways, Aer Lingus, and LEVEL, 2 Avios per dollar on hotel accommodations when purchased directly with the hotel and 1 Avios per dollar on all other purchases
• $1,000 discount voucher each calendar year after you spend $30,000 on the card
• Save 10% on Iberia flights purchased on iberia.com/Chase10

The Iberia Visa Signature Card earns Avios. Avios is a currency that’s also used by British Airways, Aer Lingus and Qatar Airways. However, each program operates with different award charts, rules and quirks.

Even though each airline has its own Avios program, Avios can be transferred between each airline’s program. Understanding each program is key to maximizing Avios redemptions.

Earning Rewards

The card earns rewards for spending as follows: 3 Avios per dollar on purchases with Iberia, British Airways, Aer Lingus, and LEVEL, 2 Avios per dollar on hotel accommodations when purchased directly with the hotel and 1 Avios per dollar on all other purchases.

In addition, there’s also a first-year welcome bonus of 85,000 Avios after spending $5,000 on purchases within the first three months of account opening.

Redeeming Rewards

Iberia’s website can be glitchy. If you are patient and willing to work through the quirks, the rewards can be worth the headache.

Iberia uses a different award chart for each partner, and although not identical, the charts are similar. Iberia’s award chart is distance-based, meaning that rather than assigning a mileage cost by specific regions of the world as zone-based programs do, Iberia charges by the number of miles flown. Distance-based award charts tend to have better redemption options for a larger variety of short-haul flights and more wiggle room with routings, but are typically not as good for longer flights or flights with connections as they are priced by individual segment.

Iberia sales come around a few times a year and you can typically book economy using Avios for some of the lowest offers on the market for flights to Europe. Surcharges are reasonable on Iberia metal, averaging around $80 to $150 per segment on a transatlantic flight, but flights on some partners like British Airways pass along high surcharges.

As mentioned, Iberia Avios can be transferred to other Avios-centered programs, but there are some requirements. To transfer miles between Iberia and partners British Airways, Aer Lingus or Qatar, you will need to make sure your Iberia account is at least 90 days old and that you have some activity in your account, be it flights or just transferring miles in from programs like Chase Ultimate Rewards®. You’ll also want to be sure your names match exactly, i.e. don’t have one account with William and the other with Bill. Make sure the email addresses match, as well.

Rewards Potential

Forbes Advisor uses data collected from several government agencies to determine baseline income and spending in various categories for consumer credit cards. The 70th percentile of wage-earning households bring in $116,000 annually and can reasonably charge $36,177 to credit cards each year.

The Chase Iberia credit card earns the following: 3 Avios per dollar on purchases with Iberia, British Airways, Aer Lingus, and LEVEL, 2 Avios per dollar on hotel accommodations when purchased directly with the hotel and 1 Avios per dollar on all other purchases.

Forbes Advisor estimates that an average household will spend $2,443 per year on flights, so for someone flying on Iberia or one of their sister companies and using the Iberia card to pay for those flights, they would earn a total of 7,329 Avios. In addition, Forbes estimates that a household will spend a $2,015 each year on other hotel purchases. This means that Iberia cardmembers could potentially amass 4,030 Avios a year from these categories.

Other expenses that can reasonably be charged to a credit card add another $31,719 in annual spending and would earn 31,719 Avios, for a total of 43,078 Avios earned each year in addition to the first year welcome bonus.

• 10% discount on flights: Iberia Visa Signature® Card cardholders can receive a 10% discount when using their card to book flights at Iberia.com/Chase10. The discount is automatically applied at checkout.
• Earn a $1,000 flight voucher: Cardholders can earn a $1,000 voucher for use towards two tickets on the same flight after you spend $30,000. The feature can be earned once a year and the voucher is valid for 12 months from the date of issue.
• Baggage delay insurance: Valid when your bag is delayed for six hours and provides benefits of up to $100 per day for up to three days.
• Purchase protection: Covers new purchases for up to 120 days from the purchase date against theft and damage. Will cover up to $500 per claim up to $50,000 over the lifetime of the account.
• Lost luggage reimbursement: Covers up to $3,000 per passenger for damaged or lost baggage.
• Extended warranty protection: Extends the period of a U.S. manufacturer’s warranty by an additional year on eligible warranties of three years or less.

Interest Rates

• APR: 21.49% - 28.49% Variable

Fees

• Annual fee: $95
• Foreign purchase transaction fee: $0
• Balance transfer fee: Either $5 or 5% of the amount of each transfer, whichever is greater.

Iberia Visa Signature® Card vs. Chase Sapphire Preferred® Card

The Chase Sapphire Preferred® Card, which has a $95 annual fee, offers a sizable welcome bonus that allows new cardholders to earn 75,000 bonus points after spending $4,000 on purchases in the first three months from account opening. Cardholders will earn 5 points per dollar on travel purchased through Chase Travel℠, 3 points per dollar on dining, select streaming services, and online grocery purchases (excluding Walmart, Target and wholesale clubs), 2 points per dollar on all other travel purchases and 1 point per dollar on other purchases.

Chase’s Ultimate Rewards® are among the most flexible and valuable currencies available—and if you want to earn Avios, you can instantly transfer your Chase Ultimate Rewards at a 1:1 ratio. Ultimate Rewards earned through the Chase Sapphire Preferred can also be redeemed through Chase Travel for 1.25 cents per point.

Iberia Visa Signature® Card vs. Capital One Venture Rewards Credit Card

If you value simplicity, the Capital One Venture Rewards Credit Card might be a better option than the Iberia card. This card has an annual fee of $95 (rates & fees) and earns 5 miles per dollar on hotels and rental cars booked through Capital One Travel, 5 miles per dollar spent on Capital One Entertainment purchases through 12/31/25 and an unlimited 2 miles per dollar spent on other purchases.

New cardholders receive a welcome bonus: 75,000 miles once you spend $4,000 on purchases within 3 months from account opening.

You have the option to cover eligible travel purchases with your miles at a value of 1 cent each. British Airways is a Capital One transfer partner, so you can transfer your Capital One miles to British Airways Avios at a 1:1 rate—and your British Airways Avios can then be transferred to Iberia when you meet eligibility requirements. Your loyalty accounts will need to have been open for at least 90 days to transfer Avios between British Airways and Iberia.

Being able to quickly amass a large chunk of Avios via the welcome offer is one of the biggest appeals for this card. After you’ve earned the welcome bonus, the card’s lackluster earnings rate makes it a back-of-wallet card. With Chase’s strict application rules, the Iberia Visa Signature® Card should probably not be at the very top of your list, but down the road there could be a place for it in your wallet.