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The bonus applies to any purchase of 1,000+ Avios as you can see below, but because BA ordinarily charges £31 for the first 1,000 Avios and £16 for each additional 1,000, you get slightly better value the more Avios you buy.
If you bought the maximum 100,000 Avios (+ 50,000 bonus Avios), you would be charged £1,615 in total, which works out at 1.076p per Avios.
It really depends, but it could be.
It’s worth considering that many people still transfer TopCashback credit to Avios without even really thinking about it – which is the equivalent of buying Avios at about 0.95p each – so this isn’t hugely different.
There are frequently slightly cheaper ways to buy Avios, but they usually require a bit of messing about, whereas this is instant and couldn’t really be any easier – particularly if you want to purchase a relatively significant amount in one go.
We tend to value Avios at about 1p each, but that’s really just a loose average and there are plenty of specific examples where you could extract a much higher value.
My favourite use for Avios is to transfer them to Iberia Plus and redeem for off-peak Business Class flights. A one-way from Madrid to Chicago, for example, is just 34,000 Avios plus ~ £100 in taxes/fees. If you bought all the Avios for that with the current 50% bonus, you’re looking at one-way transatlantic Business Class for £450-500 total, which many people would see as an attractive price.
Other examples where you could definitely end up with more than 1p of value per Avios include redeeming Avios for expensive last-minute BA flights within Europe; if you require a flexible (cheap to cancel) ticket; or happen to have an Amex BA Premium Plus 241 Certificate burning a hole in your pocket, etc.
As a general rule though, I don’t recommend buying Miles unless you have a clear use for them already in mind, unless the price is extremely low. There will be other opportunities to buy Avios at ~1p so there’s no need to tie up cash unnecessarily.
I just spotted that the terms state you need to have a BA American Express card to get the bonus:
“This promotion is only open to Eligible Participants. An Eligible Participant is a British Airways American Express® Cardmember aged 18 or over and is a British Airways Executive Club (‘BAEC’) Member”.
I’ve no idea whether that is actually the case or just a mistake though – I didn’t see anything about it until I got to the terms, which seems a bit odd.
Good to see BA selling Avios directly for a more sensible price than usual. I’m still not a buyer myself, but it could be worth considering in some circumstances. Hopefully the offer is available to all – let me know in the comments!