The Premier Miles & More® World MasterCard® which is issued by Barclay is back, for Americans.

Here are the highlights of the offer:

• Earn 20,000 award miles after your first purchase or balance transfer
• Earn an additional 30,000 award miles when you spend $5,000 in purchases within the first 90 days of account opening
• Earn 2 award miles per $1 on ticket purchases directly from Miles & More integrated airline partners and 1 mile per $1 on all other purchases
• Cardholders receive a companion ticket after first use of the account and annually after each account anniversary
• No foreign transaction fees on purchases made outside the U.S.
• Redeem miles for flight awards and upgrades on Lufthansa, Austrian Airlines, Brussels Airlines, SWISS, Star Alliance member airlines and other partners
• $79 Annual Fee. Please see Terms and Conditions for complete details

To unlock the full 50,000 miles from the signup bonus, you’ll need to spend $5000 within 90 days of account opening.

There are generally two best redemption opportunities with Mile & More:

• Domestic Business Class Redemptions:

This is the award chart for domestic redemptions:

One-ways are available for half the price, so this means a business class one-way award on United flat-bed premium service is available for just 17,000 miles. This is a good value compared with the 25,000 miles required with other programs. There are no fuel surcharges on domestic flights on United or Air Canada with Miles & More. The Premier Miles & More® World MasterCard® will get you three one-way awards just for fulfilling the signup bonus and minimum spend.

• First Class Lufthansa Redemptions in advance

Lufthansa restricts First Class redemptions to Star Alliance partners to 14 days in advance, for the most part. Miles & More is the only way to get first class more than 14 days in advance. You do have to pay fuel surcharges on the ticket, but award availability is generally decent. So it’s another option to keep in mind if you want to go to Europe and everything else is sold out.

The award chart for this departing North America is as follows:

One-ways are available for half the cost, which means a one-way redemption in first class is 85,000 miles and around $350-$500 in fuel surcharges. This isn’t the greatest but it’s actually less than the 110,000 miles required with United, and only slightly higher than the 62,500 miles and fuel surcharges required with Aeroplan, while unlocking availability in advance. Swiss first class is also available in advance, but only to HON and Senator elite members. The Premier Miles & More® World MasterCard® will get you more than halfway towards a First Class redemption. You can also top up when transferring points from Starwood.

Lufthansa First Class and the Frankfurt First Class Terminal are absolutely amazing, and I definitely think anyone with miles should save up to try it at least once.

This offer will end on June 30th, so it’s definitely worth putting in a churn before then.

Application Link: Premier Miles & More® World MasterCard®

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