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Chase just made the British Airways Visa Signature® Card a whole lot more valuable.
This was the first airline card I know of to ever offer a 100,000 point initial bonus offer, and there’s currently an offer to earn up to 100,000 Avios: 50,000 Avios after $3,000 spent within the first three months and another 50,000 Avios after $20,000 spent in total purchases in the first year.
British Airways Avios are made a lot more useful with the British Airways Visa Signature® Card because it now comes with up to $600 back each year when you redeem awards. It offers a statement credit for taxes and fees when redeeming British Airways Avios for BA transatlantic flights originating in the U.S. You can get up to $600 a year rebated (3 credits a year up to $200 each).
- $200 credit for business and first class awards
- $100 credit for coach and premium economy
Here’s what you need to know to take advantage of the new $600 statement credit:
- You need to pay taxes and fees for the Avios award redemption with the British Airways Visa Signature® Card. That means you need to be redeeming from British Airways Executive Club (using American AAdvantage miles for travel on British Airways won’t trigger the credit) and payment needs to be made with the card to trigger the statement credit.
- You can earn up to 3 credits per year. You’ll get the biggest credits for premium cabin awards (up to $200 per redemption) but those also have the highest fees. In some cases the statement credit card wipe out all the taxes and fees for coach awards.
- Your award trip has to include transatlantic travel on British Airways departing from the U.S. You can’t use the statement credit from the U.S. British Airways Visa Signature® Card on non-U.S. travel and you won’t double your statement credits by booking two one way trips (US to Europe and Europe to U.S.).
- That said, if you’re booking one way transatlantic award travel from the U.S. on British Airways you’re eligible for the full statement credit. That’s especially useful if you’re flying back with miles from another loyalty program. Book your outbound out of a British Airways account rather than the return.
- The award has to be redeemed from the British Airways Executive Club account belonging to the cardholder to be eligible for the statement credit.
- Credits can take up to 45 days to post and appear within 1-2 billing cycles. So you may have to pay for the taxes and fees (based on when your card statement closes and payment is due) before getting a credit back.
- If you cancel the award the credit may get reversed. They don’t want folks maxing out the credit without actually redeeming award travel. Most cardholders probably won’t redeem more than once or twice a year, and no doubt this breakage is important to the economics of the offer.