There’s only a week left to sign up for what is being described by one expert as a ‘ridiculously generous’ credit card bonus.
Those who qualify for the Barclaycard Avios Plus Mastercard can claim a sign-up bonus of 50,000 Avios points.
That, according to Rob Burgess – editor of the Head for Points website – is worth £500 in airline vouchers, or at least £333 in Nectar Points which can be spent at Sainsbury’s.
Barclaycard is offering an enrollment offer of 50,000 Avios on its Barclaycard Avios Plus Mastercard.
To be eligible, new cardholders must spend £3,000 in the first three months.
In addition to the introductory offer, cardholders will earn 1.5 Avios for every £1 spent on qualifying purchases.
Those who spend £10,000 on the card within 12 months can also choose between a British Airways cabin upgrade voucher to use when booking an Avios award flight or 7,000 bonus Avios.
It also gives access to over 1,000 airport lounges worldwide at a discounted rate of £18.50 per lounge pass, per person and also up to five months of Apple TV+, Apple Music, Apple Fitness+, Apple News+ and Apple Arcade for free.
The card won’t be for everyone, however. Existing cardholders are not eligible, while the card also comes with a monthly fee of £20, which may put some people off.
Anyone who has previously canceled a Barclaycard Avios credit card in the past will be eligible as long as there has been a 24 month gap.
Rob Burgess – editor of the Head for Points website – says these are the most rewarding non-Amex travel credit cards on the market and arguably the most valuable Visa or Mastercard credit card in the UK -United.
Those who have had another Barclaycard will only be eligible if they canceled their non-Avios Barclaycard more than six months ago.
The offer is valid until May 30.
Mr. Burgess says it is the most rewarding non-Amex travel credit card on the market.
“This is an unprecedented offer, especially considering the monthly fee,” says Burgess.
“If you think you can get 1p per Avios via premium cabin flights, this is a £500 sign-up bonus for a £20 a month credit card which you can cancel at any time .
“As long as you can meet the spending target and qualify as a new Barclaycard customer, that’s ridiculously generous.
“The worst case scenario, even for a non-Avios collector, is to take the 50,000 Avios points and transfer them into 66,666 Nectar points, worth £333, which isn’t exactly a bad deal.
If you don’t want to pay anything at all, there’s also a special offer of 10,000 Avios on the free Barclaycard Avios Mastercard, for those who spend £1,000 in three months.
But Mr Burgess said: “I really wouldn’t recommend getting the free card with 10,000 Avios if you think you can spend £3,000 in three months to earn 50,000 Avios on the paid card.”
As always with any credit card loyalty points scheme, it’s essential to stick to the rules – the most important being paying off the balance in full each month or facing exorbitant interest.
Why does Barclaycard offer such a good deal?
According to Burgess, Barclays is trying to rebuild its customer base and fight back against American Express.
This is an argument that accumulates when you consider the number of bank customers who have lost in recent years.
Barclays has lost more bank account changers than any other bank, since launching the Current Account Switching Service (CASS) nearly 10 years ago.
Since the start of 2014, Barclays has lost more than 544,000 switchers than it has gained, according to figures calculated by Andrew Hagger, a personal finance expert at MoneyComms.
To put that into context, the second worst performer is RBS, which lost about 273,000 more switches than it gained during this time.
Meanwhile, the Nationwide Building Society has recovered nearly 800,000 people switching bank accounts.
Burgess says: “The average customer of a Barclays current account is probably in their 50s – do you know any 20-year-olds with a Barclays current account?”
“The average Avios customer – at least the average BA Gold or Silver member is between 30 and 45 years old, is fairly well off with an average income of around £70,000.
“It’s attractive for Barclays as they try to rebuild their base.” They are willing to waste money on credit cards to lure people into Premier checking accounts, personal loans, mortgages, etc.
How does it compare to the British Airways Premium Card from Amex?
The British Airways American Express Premium Plus card is an obvious alternative to Barclaycard’s Avios Plus.
The card comes with an annual fee of £250 – or £20.83 per month – and also offers 1.5 Avios for every £1 spent. On purchases made with British Airways or BA Holidays, this is increased to 3 Avios for every £1 spent.
The card comes with a sign-up bonus, offering 25,000 Avios if £3,000 is spent in the first three months.
Plus, it also offers a companion voucher in any cabin, including Business Class and First Class when new cardholders spend £10,000 a year.
Emily Herring, on comparison site Finder, says: “Barclaycard has gone against the British Airways American Express Premium Plus credit card, offering the most generous bonus Avios on the market.
“This 50,000 Avios bonus exceeds Amex’s current bonus of 25,000, but if you travel a lot with BA it’s still worth considering Amex as you get triple the Avios on spend from BA.
“Plus you can get a Companion Voucher – an extra plane ticket for a friend – when you spend £10,000 a year.
“For frequent fliers, a credit card that offers airline miles, cabin upgrades and lounge access is a great way to make your daily spending more rewarding – but it’s only worth it if you’re still paying off your balance. each month.
“Both cards come with pretty steep fees, so only consider them if you’re going to use the points and perks. You will also need a fairly decent credit score to qualify for these cards.
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