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While Alaska miles are one of the hardest to earn, they're also one of the most valuable out there.
And if you're planning a trip for the future - especially when it comes to international travel - you'll be grateful for stocking up on this lucrative currency now.
Besides flying on Alaska or on one of the airline's numerous partners, what's the next easiest way to obtain miles (that we value at 1.8 cents apiece)? Well, it's by earning the sign-up bonus on the Alaska Airlines Visa Signature® credit card. And right now, the publicly available offer is one of the highest we've ever seen: up to 65,000 Alaska miles, as reported by Doctor of Credit.
The information for the Alaska Airlines Visa Signature card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Here are the details.
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In This Post
The Alaska card offer
There are two publicly available sign-up offers on the personal Alaska Airlines credit card and each is worthy depending on how much you plan on spending. Note that for either offer, the card's $75 annual fee is not waived.
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(Photo by The Points Guy)
Offer A
The first offer is for 50,000 Alaska miles after spending $2,000 within the first 90 days of account opening. Plus, you'll get access to Alaska's Companion Fare offer from $121 ($99 fare plus taxes and fees from just $22).
Offer B
Then, there is a second offer for up to 65,000 Alaska miles. That bonus is broken down into two tiers: 40,000 bonus miles after spending $2,000 within the first three months and then an additional 25,000 bonus miles after spending $8,000 or more within the first six months.
With this offer, you'll also receive Alaska's Companion Fare offer from $121 ($99 fare plus taxes and fees from just $22).
Which is better?
On the surface, if you plan on spending $8,000 within a six-month period, the elevated 65,000-mile offer is likely your best bet. It might also be worthwhile to do some basic math and opportunity cost analysis. When comparing the offers, you'll notice that you have to spend an additional $6,000 to earn 15,000 more Alaska miles.
Related: A full review of the Alaska Airlines Visa Signature card
Card benefits
The card itself comes with a nice lineup of perks and benefits. You'll earn 3 miles per dollar on eligible Alaska Airlines purchases, receive a free checked bag on Alaska Airlines flights, get a 50% discount on Alaska Lounge day passes, 20% inflight savings in the form of a statement credit and an annual companion fare each year your account is renewed.
Related: Alaska offering bonus elite-qualifying miles through June 2021
Why Alaska miles are so worthwhile
Alaska Airlines has managed to build an incredibly valuable frequent flyer program through individual partnerships with a number of top-notch foreign carriers.
Between a smattering of different partners (that can provide outsized value to those who know how to finagle the right partner redemptions) and the ability to book free stopovers, the Alaska Airlines Mileage Plan program is one of our favorites here at TPG.
And they've rejoined forces with American Airlines and will be officially joining the Oneworld alliance later this year.
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Cathay Pacific first class. (Photo by Emily McNutt/The Points Guy)
Related: Why my American elite status just became much more valuable - and yours may have, too
The full 65,000-mile bonus (if you choose that offer) is worth $1,170 based on TPG's valuations, but it can potentially be worth even more depending on how you choose to redeem it.
For instance, if you spend the full $8,000 for the 65,000-mile bonus, you'll have at least 73,000 miles in your Alaska account. One of the best sweet spot redemptions involves using 70,000 miles to book a one-way Cathay Pacific first class award to Asia with a free stopover in Hong Kong (HKG). That ticket can easily retail for $5,000 or more.
Bottom line
This latest offer Alaska Airlines card offer is one of the best we've seen. Before you apply, brush up on the rules for applying for Bank of American cards including the 2/3/4 rule, limiting consumers to only being approved for up to four new cards in a 24-month period.
Alaska miles offer some of the best value premium cabin redemptions between the U.S. and Asia, so if you're in the market for a new airline card, this is a compelling option.
Additional reporting by Ethan Steinberg.
Featured photo by Michael Rosebrock/Shutterstock.
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Editorial Disclaimer: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.