Iberia Visa Signature Card review 2023: Big bonus, small rewards

The Iberia Visa Signature® Card * The information for the Iberia Visa Signature® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. rewards big spenders with generous flight discounts, but it provides little value for those who want to earn more points on everyday purchases.

Iberia Visa Signature Card basics

• Annual fee: $95.
• Welcome bonus: Earn 75,000 Avios after spending $5,000 on purchases in the first three months of account opening. Plus, an additional 25,000 Avios after spending $20,000 within the first 12 months of account opening.
• Rewards: 3 Avios per $1 at Iberia, British Airways, Aer Lingus, and LEVEL, 2 Avios per $1 on hotel accommodations purchased directly with the hotel and 1 Avios per $1 on all other purchases.
• Other perks and benefits: $1,000 Airfare Discount Voucher each calendar year when you spend $30,000 on your card; 10% discount on airfare booked through iberia.com/Chase10; baggage delay insurance; lost luggage reimbursement; purchase protection; extended warranty protection.
• Does the issuer offer a preapproval tool? No.
• Recommended credit score: Good to excellent.

About the Iberia Visa Signature Card

Iberia is a Spanish airline that’s known among points and miles enthusiasts for offering excellent redemption rates for award flights, particularly between the U.S. and Europe, either through the airline itself or through its partner airlines as a member of the Oneworld Alliance. Ownership of the Iberia Visa Signature® Card * The information for the Iberia Visa Signature® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. can initially be a great way to boost your Iberia Plus account balance. The card offers 75,000 Avios after spending $5,000 on purchases in the first three months of account opening. Plus, an additional 25,000 Avios after spending $20,000 within the first 12 months of account opening. You can use that bounty of Avios to book flights on Iberia, but also eligible flights on Alaska Airlines, American Airlines, British Airways, Cathay Pacific and more. We’ll get into that more below. 

For ongoing spend, the Iberia Visa isn’t the most rewarding credit card, earning just 3 Avios per $1 at Iberia, British Airways, Aer Lingus, and LEVEL, 2 Avios per $1 on hotel accommodations purchased directly with the hotel and 1 Avios per $1 on all other purchases. However, the card potentially makes up for it with a lucrative perk: A $1,000 discount voucher valid on two tickets booked on the same reservation. You can qualify for this voucher every year that you spend $30,000 on the card.

Cardholders also receive a 10% discount on Iberia flights and are charged no foreign transaction fees on purchases made abroad. With just a $95 annual fee, these benefits can be worthwhile. 

However, if you don’t spend enough to qualify for the voucher or maximize that 10% flight discount, you’ll fare better with a card that earns more general purpose rewards. The category bonuses on this card are limited, and cardholders don’t receive benefits like free checked bags and priority boarding typically offered by the best airline credit cards.

Pros

• Generous welcome bonus: A bonus this big beats most other airline credit cards.
• A $1,000 annual airfare discount: Cardholders receive a $1,000 airfare discount when used towards two tickets every calendar year they spend $30,000 on the card.
• A 10% discount on Iberia flights: Flying overseas can be expensive. So, saving 10% by using this card to book your flights can help take some of the sting out of the sticker shock.

Cons

• High spending requirement: To earn the full welcome bonus requires significant spending on the card.
• Limited category bonuses: The card doesn’t earn bonus points outside of direct hotel bookings and flights with Iberia and its partners.
• Lack of airline-specific benefits: Most airline cards offer free checked bags, priority boarding and other benefits that improve your travel experience. This card offers none of those perks.

Iberia Visa Signature Card rewards

Cardholders earn 3 Avios per $1 at Iberia, British Airways, Aer Lingus, and LEVEL, 2 Avios per $1 on hotel accommodations purchased directly with the hotel and 1 Avios per $1 on all other purchases. This isn’t the most rewarding card since it lacks bonus points in common spending categories like gas, groceries and dining. For that, you might want to consider a card like the Chase Sapphire Preferred® Card or Amex EveryDay® Preferred Credit Card * The information for the Amex EveryDay® Preferred Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. (terms apply), both of which earn flexible points that include the option to transfer to Iberia at a 1:1 ratio.

The Iberia Visa Signature Card offers a 75,000 Avios after spending $5,000 on purchases in the first three months of account opening. Plus, an additional 25,000 Avios after spending $20,000 within the first 12 months of account opening. Also, spending $30,000 in a year will earn you a $1,000 discount that you can apply towards two tickets on the same Iberia flight. 

Using government data and other publicly available information, we estimate that a household in the U.S. that would be in the market for this card has around $25,087 in annual expenses that can be charged to a credit card. Here’s how such a household’s rewards could break down:

The cardholder in this example earns a total of 28,331 Avios annually. As of the time of writing, you could redeem a flight between the East Coast and Spain from as little as 17,000 Avios each way in economy, so those points can save you quite a bit of money on flights.

Iberia Visa Signature Card perks

The Iberia Visa Signature Card doesn’t offer the highest rate on credit card spending, but it makes up for it with two generous perks. Cardholders receive a 10% discount on Iberia flights and a $1,000 flight discount voucher. The voucher is issued after you spend $30,000 in a year and is valid on two tickets booked on the same flight. 

Flights to Europe can be costly, especially in the summer months. This card can help you cut down on the cost of airfare and make it well worth the card’s $95 annual fee, especially if you travel with a companion at least some of the time. Cardholders also get waived foreign transaction fees, which on many rewards cards can cost around 3%.

How the Iberia Visa Signature Card compares to other airline cards 

The Iberia Visa Signature Card earns Avios — the same currency that British Airways, Aer Lingus and Qatar Airways issue to their members. In fact, you can transfer your Avios between these programs freely. Aer Lingus and British Airways both have credit cards that earn Avios and Chase has several cards that earn points which can be transferred to Iberia at a 1:1 ratio. Here’s a closer look at these cards and how they stack up against the Iberia Visa Signature Card.

Iberia Visa Signature Card vs. British Airways Visa Signature® Card * The information for the British Airways Visa Signature® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.

The British Airways Visa Signature® Card * The information for the British Airways Visa Signature® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. card offers many of the same benefits as the Iberia Visa card and at a similar $95 annual fee. Both cards earn Avios that can be transferred from one program to the other. Like the Ibera card, the British Airways card earns 3 Avios per $1 at Iberia, British Airways, Aer Lingus, and LEVEL, 2 Avios per $1 on hotel accommodations purchased directly with the hotel and 1 Avios per $1 on all other purchases. Both cards also offer a 10% airfare discount.

Where the two cards primarily differ is in the recurring travel perks. The Iberia Visa offers a $1,000 annual airfare discount for two tickets on the same flight when you spend $30,000 a year. This benefit is immensely useful, considering Iberia regularly offers $500 round-trip fares to Europe in the off-season.

Meanwhile, the British Airways Visa provides a Travel Together Ticket valid on British Airways award flights when you spend $30,000 a year on the card. This perk is really useful if you want to save on premium cabin flights since you’ll pay 50% fewer Avios on award tickets. 

The British Airways Visa also includes up to $600 per year in flight statement credits towards award bookings ($100 for economy and premium economy, $200 for business and first class, three times per year). Considering British Airways charges high taxes on their own award tickets, these credits can go a long way. 

Both cards offer great benefits, but the best option comes down to your travel needs. Iberia’s $1,000 airfare credit is more flexible, especially for paid economy class tickets. Meanwhile, British Airways provides more savings on award taxes and premium cabin flights.

Iberia Visa Signature Card vs. Aer Lingus Visa Signature® Card * The information for the Aer Lingus Visa Signature® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.

The Iberia Visa Signature Card and the Aer Lingus Visa Signature® Card * The information for the Aer Lingus Visa Signature® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. both earn Avios and have the same $95 annual fee. Their earn rates are also identical and both cards provide an incentive when you spend $30,000 per calendar year. The Aer Lingus Visa gives you a companion ticket valid on economy class flights. If you tend to travel during peak season, the Aer Lingus voucher will be more valuable than the Iberia one since flights to Europe can cost well over $1,000 during busy months.

The Aer Lingus Visa has the added advantage of providing priority boarding for the cardholder and authorized users. It can provide more value than the Iberia card, though it doesn’t offer a 10% discount like the Iberia card does. If you fly to Europe often, you may want to consider the Iberia card for the discount alone.

Iberia Visa Signature Card vs. Chase Sapphire Preferred® Card

The Chase Sapphire Preferred® Card earns Chase Ultimate Rewards®, which you can transfer to Iberia Plus at a 1:1 ratio. The card’s welcome bonus is lower than the Iberia Visa’s, at 60,000 points after spending $4,000 on purchases in the first three months of account opening. 

However, the Sapphire Preferred earns more rewards on purchases: 5 points per $1 on travel purchased through Chase Ultimate Rewards®, 3 points per $1 on dining, select streaming services, and online grocery purchases (excluding Walmart, Target and wholesale clubs), 2 points per $1 on all other travel purchases and 1 point per $1 on all other purchases.

The Sapphire Preferred also comes with a $50 annual hotel credit valid on bookings made through the Ultimate Rewards portal. Lastly, cardholders receive a 10% point bonus every year based on their total purchases. 

This card has a $95 annual fee and is a good fit if you want flexibility in redeeming your points. In addition to transferring to Iberia Plus, points are transferable to 10 other airlines and three hotel loyalty programs.

Should you get the Iberia Visa Signature Card?

The Iberia Visa Signature Card is a good choice for travelers who frequently fly with Iberia Airlines. While the card doesn’t offer the highest earnings on credit card spending, it does provide a generous welcome bonus and a 10% discount on Iberia flight bookings. Additionally, the card’s $1,000 flight discount (valid on two tickets on the same itinerary) can be immensely valuable to those who spend at least $30,000 on the card. 

However, if you do not frequently fly with Iberia Airlines or you are looking for more general travel rewards, this isn’t the best card for you.

Iberia Visa Signature Card summary