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These are both Avios programs, and you already could transfer from Chase to British Airways and from British Airways to Iberia or Aer Lingus, however to do so your Iberia or Aer Lingus account had to:
- Have been open for 90 days
- Have had some points-earning activity
Chase’s move to add both Iberia and Aer Club means you no longer have these restrictions. I haven’t found Aer Lingus Aer Club to have usefulness beyond what British Airways and Iberia offers, it seems like they built Aer Club to eventually just be folded into a broader Avios program. However there are real sweet spots in the Iberia program.
- Low fuel surcharges redeeming on Iberia flights. If you use British Airways Avios for Chicago – Madrid roundtrip you’ll pay $956 in fuel surcharges. Using Iberia points instead it’s under $150.
- Cheaper awards. Boston and New York – Madrid costs just 34,000 points each way in business class outside peak season using Iberia. Miami costs just a bit more. You save miles and money booking through Iberia.
Iberia Business Class
Here are the Iberia metal off-peak and peak award chart prices:
I’ve had great success using Iberia Avios to redeem business class travel on Royal Air Maroc for 94,500 miles roundtrip.
I find their American Airlines redemption chart useful as well. Here’s the pricing:
Both the Iberia Visa Signature Card and Aer Lingus Visa Signature Card are offering big initial bonuses and are $95 annual fee cards. (Neither one is my referral link, information about the products is neither provided nor reviewed by their issuer.)
50,000 Bonus Avios after $3,000 spend within first 3 months plus 25,000 Bonus Avios after $10,000 spend within your first year. Plus a further 25,000 Bonus Avios after you spend $20,000 total on purchases within your first year from account opening.
These are good bonuses from new cards, but you’ll earn more points for your ongoing spend — even if you want points in these specific programs — by using other Chase cards.