Update 6/30/2014: The current sign-up bonus has been reduced to 35,000 miles. All links in this post go to the following offer:

Lufthansa Miles and More World MasterCard

Application Link: Miles & More® Premier World MasterCard®

  • Earn 20,000 award miles after your first purchase or balance transfer
  • Earn up to 15,000 award miles with balance transfers (1 mile per $1 transferred) within 30 days of account opening
  • Earn 2 award miles per $1 on ticket purchases directly from Miles & More integrated airline partners
  • Earn 1 mile per $1 on all other purchases
  • Annual Companion Ticket after first purchase
  • 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 airlines and other partners
  • $79 Annual Fee, waived for SEN and HON Circle Members

Barclay’s has offered the Miles & More® Premier World MasterCard® 50,000 miles bonus for over a month now, but there is buzz going around that it is to end on June, 30th. My guess is that the bonus will return to its normal offer of 20,000 miles, and who knows when it will be back again since 2011 was the last time the bonus was at 50,000.

First, a run down on the deal:

  • Earn 20,000 award miles after your first purchase

  • Earn another 30,000 award miles after spending $5,000 in the first 90 days

  • $79 annual fee

These are the best ways to use the miles:

1. Two roundtrip coach award flights for 25,000 miles

2. 1.5 roundtrip business class flights for 35,000 miles

3. 1 roundtrip economy class flight from US to Europe on Lufthansa, SWISS or Austrian for 50,000 miles

Check the Miles & More award chart for more.

The Bottom Line

By getting 50,000 bonus miles from the Lufthansa Miles & More® Premier World MasterCard® after spending $5,000 in the first 3 months you will have enough miles for two domestic roundtrip or 1.5 domestic first class award flights. Since taxes and fees can be insanely high on international Miles & More’s award travel, you will get the most value out of 55,000 miles for domestic awards using United or US Airways. With Miles & More you can also book one-way awards on any of the 27 Star Alliance partner airlines, allowing you to book a one-way award on US Airways (which normally you cannot with US Airways awards).

Although it is fully possible to get more than one Barclay credit card in a day (read more at FlyerTalk) it does seem more difficult to get approved for more than one card than in the past. If you do decide to apply for several Barclay cards on the same day to try to limit the number of hard credit inquiries and if your application results in a pending or denied status, you can call into their reconsideration line at (888) 232-0780) and dial 3 for application status or check your application status online.

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