A Leveraged Swap: 12,000 Diners Club Points to 18,000 British Airways

Right now Diners Club is offering a 25% bonus for transfers to American Airlines.  And American Express is offering a 35% bonus for transfers to British Airways.  Lady Tocqueville has Diners Club.  I need British Airways.  Specifically 18,000 British Airways.

I found a coworker to trade.  I gave him 15,000 American Airlines, funded by 12,000 Diners Club points.  He gave me 18,000 British Airways, funded by 14,000 American Express.  A 50% bonus!

This has topped off my British Airways account with 30,000 points, something I will use for a future booking, hopefully for something exciting

Get $220 Back on Every British Airways New Promotion

British Airways just released a strong promotion, oddly called “The Happiness Fund”.  Basically for every transatlantic round-trip flight you take with British Airways, American Airlines, or Iberia from now until May 31, 2013, you earn 20,000 bonus Avios points.  You must credit the flights to British Airways.  Registration is here: register.

In their words:

Book a qualifying, round-trip, transatlantic flight in any cabin* and fly as an Executive Club member between now and May 31, 2013, for 20,000 bonus Avios on every round-trip. And when you book and fly five round-trips, you can claim an extra 100,000. In other words, there are 200,000 bonus Avios with your name on them!

If you already have the British Airways credit card, this is a great promotion to get more miles.  For example, only 4500 Avios is required for non-stop economy flights on American airlines or other partners.  My in-laws just booked Lima – Cuzco round-trip on LAN using British Airways miles for only 9000 Avios round trip!  This would normally be a $600 flight.

I am surprised they allow this for American or Iberia flights beyond just British Airways flights.

Ben at One Mile at a Time has recently performed an analysis and values Avios at $0.011 (1.1 cents) per Avios.  Thus these bonus miles are “worth” roughly $220.  Not a bad promotion, and may make mileage runs more worth it for Oneworld Alliance folks.