JP Morgan Raises the Credit Card Reward Stake by Offering 100,000 Miles

JP Morgan Chase has recently begun touting a new program offering new customers 100,000 airline miles, intensifying the battle for affluent spenders.

The miles, worth more than a round-trip transatlantic flight, will be awarded to customers who spend $2,000 on the co-branded British Airways Signature Visa cards within the first three months, according to their statement. Customers spending at least $30,000 in the first year will receive a matching travel voucher for a companion to fly British Airways and card holders will earn 1.25 miles for each dollar spent, according to the statement. There’s a $75 annual fee.

While British Airways isn't the most convenient airline for Americans travelling anywhere other than London these days (as anyone who has ever tried to connect onwards to another flight at Heathrow is well aware), frequent flier members can get tickets on several OneWorld partner airlines, including American and Cathay Pacific. Iberia, the Spanish carrier which is due to be acquired by British in 2010 or 2011, is also already a member of the OneWorld Partnership.

Bottom Line: Something to look into if you are planning to spend a lot this holiday season and want reward miles.