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American Express is offering a 40% transfer bonus to British Airways and Iberia until September 17th, 2017.
British Airways normally requires 7,500 points for an award flight with American and Alaska Air for flights under 1,150 miles. With this transfer bonus, it would only require 5,400 points. Award availability with American is poor at best but Alaska is significantly better. You can search for American availability on BritishAirways.com, but Alaska is not searchable on British Airways – for those, you should search on Alaska Air, find the flights and call British Airways to book. Remember to remind the agent on the phone to waive the booking fee because it is not bookable online.
For other partners such as Japan Airlines, Cathay Pacific, and LAN, flights under 650 miles normally require 4,500 points – now 3,300 points with this bonus.
Despite this generous bonus offer, do not transfer your flexible American Express Membership Rewards points to British Airways or Iberia until you need it. Having your points in a flexible points currency, such as Membership Rewards, is more valuable than a non-flexible points currency (i.e. British Airways and Iberia Avios).
If you want to earn more American Express Membership Rewards points, a good card to start with would be the American Express Everyday card. There is no annual fee to sign up and you earn 1 Membership Rewards point for every dollar spent. This is a good starter card if you want to test the world of points and do not want to commit to an annual fee.