I receive compensation for many links on this blog. You don’t have to use these links, but I am grateful to you if you do. American Express, Citibank, Chase, Capital One and other banks are advertising partners of this site. Any opinions expressed in this post are my own, and have not been reviewed, approved, or endorsed by my advertising partners. I do not write about all credit cards that are available -- instead focusing on miles, points, and cash back (and currencies that can be converted into the same).
Chase wants to make sure you aren’t getting its cards just for the signup bonus. Those bonuses are expensive and take awhile for them to earn back. So they won’t approve new accounts for many of their products when the applicant has had 5 or more new credit cards within the past 24 months. That only excludes a very small portion of the population, a low single digit percent most likely, but the group has a high likelihood of continually switching products.
If you’ve had 5 or more new cards in the last 24 months you’re out of luck for the Chase Sapphire Preferred Card, for instance (which is why you should get it first when you’re getting started with miles and points).
But this rule doesn’t apply to all of Chase’s cards. And there’s one with a huge bonus in particular to consider if you’ve already had several new accounts from various card issuers in the past couple of years: the British Airways Visa Signature® Card.
It has one of the biggest signup bonuses of any credit card. You can currently earn up to 75,000 Avios: 50,000 bonus Avios after you spend $3,000 on purchases within the first 3 months from account opening, then an additional 25,000 bonus Avios after you spend $10,000 total on purchases within your first year of account opening for a total of 75,000 bonus Avios.
That sounds like a lot of spending to earn the full bonus but frankly it’s a great card to get even if you were going to stop at 50,000.
And these points are great for short-distance flights, because travel up to 1150 miles each way cost 7500 Avios in economy, or 15,000 Avios in business class. Premium cabin awards on American Airlines, where available, are now considered business class. And you can still fly Los Angeles – Hawaii for just 12,500 Avios each way in economy.
I love booking intra-Asia business class awards on Japan Airlines and Cathay Pacific that are short distance, and indeed flights up to 650 miles outside North America cost just 4500 points each way in economy and 9000 in business.
Cathay Pacific Business Class. Short distance business class awards can be a value at twice the Avios cost as coach, and Hong Kong flights have very low surcharges.
Plus if you spend $30,000 in a year on the card, you double the effectiveness of your points because you earn a ‘Travel Together’ companion award ticket which allows you to book two passengers on an award ticket for the mileage price of one award. (You still pay taxes and fees for both passengers, but you stretch your points because you only pay miles for one.)
Earn the card’s full bonus and spend $30,000 in your first year on the card and you’ll have enough points for two passengers to fly roundtrip business class between New York, DC, or Chicago and London for instance. There aren’t many card offers that can be leveraged into two roundtrip business class transatlantic tickets with a single bonus.
Plus since British Airways offers family pooling of points, two people can get the card and its bonus,
and then combine points for an even bigger trip using the travel together ticket.
Or if you don’t have enough points from this card alone, you can transfer points to top off a British Airways account at one-to-one from a Chase Sapphire Preferred Card which is offering 50,000 points after $4000 spend within 3 months plus 5000 points for adding a (no fee) authorized user to the account and making a purchase within that same timeframe. These points can be transferred instantly once earned.