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This is a sliding “up to” bonus, with lower purchases receiving a 10% bonus and working up from there. (Iberia Plus only sells Avios in set chunks which is why the ranges below might seem a bit odd, but essentially after 30,000 it goes up in 5,000 point increments).
- 2,000 – 15,000 = 10% Bonus
- 20,000 – 24,000 = 20% Bonus
- 35,000 – 75,000 = 30% Bonus
- 80,000 – 100,000 = 35% Bonus
Up to 35% Bonus on Avios Purchases – The Money Maths
So, is this a good deal? The answer is, it depends! To save you the hard work, I’ve put together a little table giving you an idea of the costs in GBP (assuming 1EUR = 0.85GBP) and therefore the approximate pence/Avios cost.
Obviously your exchange rate may vary slightly, and you will need to consider if your card charges any additional fees for transactions in Euros. The Lloyds Avios Amex is great for avoiding these charges, and earning extra Avios on your purchase of Avios…!
As you can see, at the lower end, it’s a bit pricey per Avios for me – I try to get much nearer to 1p/Avios.
Whilst not as good as their promotion last Christmas, at the mid to high end it gets interesting. Even if you just bought 75,000 + 30% bonus (so not the best possible price), you would almost enough Avios in a single transaction to get you return between London to Madrid in Economy (13,000 Avios + £35 RFS), then onwards between Madrid and Colombia in Business Class (85,000 Avios + £164 taxes off-peak). Total cost £1,380.50 (assuming you have 500 Avios knocking around already, which if you already InsideFlyer shouldn’t be an issue!)
This example also totally ignores transferring your Avios to BA or Avios.com account to use in conjunction with any Amex 241 or Lloyds upgrade vouchers you might have which will further increase the value of your redemptions.
Iberia 35% Bonus on Avios Purchases Conclusion
Purchasing Avios directly is a quick and easy way to top up your account before a big, aspirational redemption, or where you can get good value vs a cash ticket if you’re already planning a long haul trip like the Colombia example above.
As long as your Iberia Plus account has been open more than 90 days (if you don’t already have one – open one immediately so you’re ready for any future promotions!), you can move the Avios to your BA or Avios.com, find out how to Combine Your Avios here.
Unless you’ve got money to burn, I wouldn’t purchase speculatively at these rates as you need to spend a significant amount to get a reasonable rate – but if you’ve got a specific trip in mind or want to top up to make best use of your Amex 241 this might just be an excellent opportunity.
One thing to note from my previous experiences buying Avios from Iberia Plus – they take a couple of days to appear in your account. It isn’t an instant transaction unfortunately so don’t bank on them appearing immediately.