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After weeks of rumours, Barclays  has confirmed that it is to rekindle its relationship with Avios. It will shortly be rolling out the “Barclays Avios Rewards” scheme to its Premier account holders (indeed some should be able to switch to it via the app, now).

Key details that we are aware of are as follows:

• It will cost £12 a month
• You’ll get a sign-up bonus of 2,500 Avios if you’ve been a Premier account holder for 4 months or more.
• You’ll get a substantially more enticing 25,000 Avios sign-up bonus if you join Avios Rewards within 4 months of opening your first Barclays current account, and then switch your old account to Barclays using the Current Account Switch Service within 3 months. The sign-up bonus will be awarded in month 4.
• All members will also receive 1,500 Avios a month, and a BA upgrade voucher after a year

We also understand that certain other Barclays products will also earn you Avios, as follows:

• A Barclays mortgage will get you a lump sum 2,000 Avios and then 700 Avios a month
• Life cover will get you 150 Avios a month (500 Avios a month if it includes critical illness cover) (first 12 months only).
• Home cover will get you 75 Avios a month for contents and buildings insurance, or 150 Avios a month if they’re combined (first 12 months only).

There are also likely to be further qualifying products, and Avios bonus opportunities.

The upgrade voucher

Everyone likes an upgrade voucher and I’m delighted to be able to confirm that the Barclays Avios Rewards account will offer one.

If you stay a member of Barclays Avios Rewards for a full 12 months, you will receive a Cabin Voucher Upgrade on your 12 month anniversary.

Beyond this, the key facts are as follows:

• The upgrade voucher applies to full Avios bookings only
• It can be used for a return flight, or 2 people one way
• It permits a “one cabin” upgrade, although note that upgrading from Business to First is not possible
• On the basis of the above, the clear “sweet spot” (i.e. maximum value for your voucher) is to upgrade from Premium Economy to Business
• The voucher applies to flights with BA only (i.e. not Oneworld partners), that depart from the UK.

How do you qualify for Barclays Premier banking?

To join Premier Banking, you need an annual gross income of £75,000 or more paid into a Barclays current account or £100,000 or more saved or invested with Barclays.

The eligibility criteria is neatly summarised by Barclays per the below:

Is this worth it?

Given that we value 1,500 Avios in excess of £12, this is worth considering if you’re already a Barclays Premier customer. Whether it’s worth actively switching to Barclays is a matter for your personal circumstances. However, in particular, 25,000 Avios is a generous chunk of points, so give it serious thought if you qualify for this bonus.

Again, it’s important not to be enticed by the Avios alone with the additional products. These are handfuls of points really. Work out if the product is the best available for you and if it is, take the Avios as a pure bonus.

We’ll keep you updated on Barclays Avios Rewards…

The full terms and conditions and FAQs for Barclays Avios Rewards are available on this page. At the time of writing however, this is such a breaking story that the links are not even live!

We will be sure to update you on developments as more information is released by Barclays, but we trust the above gives a pretty clear overview of the new Avios product.