What is the best value for using Alaska Airlines credit on a trip?

If you’re planning a trip with Alaska Airlines and want to stretch the value of your credit‑card benefits, focus on the companion fare, high‑earning spend categories, and strategic mileage purchases.

Companion Fare for the Trip

• The card provides a $99 companion fare plus taxes (typically around $121) that can be used on any North American economy fare on Alaska or Hawaiian flights.
• The fare must be paid in full with the Alaska credit card and cannot be combined with wallet funds.
• It works for a strict one‑way or round‑trip itinerary, so you can book a round‑trip for yourself and a companion on the same reservation.
• Use it to cover a second passenger on a long‑haul or island hop, effectively saving the full cash price of that ticket.

Earn Miles Quickly Before the Trip

• Purchases on Alaska and Hawaiian airline tickets earn 3 points per dollar.
• Spending on gas, EV charging, local transit, cable, streaming, and rideshare earns 2 points per dollar.
• All other purchases earn 1 point per dollar.
• If you have a Bank of America checking account, you receive an additional 10 % bonus on points earned from card purchases.
• The annual $122 companion fare credit (or $99 + $23 taxes) is awarded each account anniversary after $6,000 spend in the prior year.

Boost Your Balance with Mile Purchases

• Buying Alaska miles at $1.73 per mile with a 70 % bonus gives 170 K miles for $2,956, a good rate when you have a specific redemption in mind.
• This can be useful if you need extra miles for a premium‑cabin partner award, such as Cathay Pacific business class for 55 K miles or Qantas first class for 70 K miles.

Redeem Miles on Partner Airlines for High Value

• Alaska miles can be redeemed on partners like Cathay Pacific (30‑70 K miles depending on cabin), Fiji Airways/Qantas (55 K‑70 K miles), and American Airlines (22.5‑57.5 K miles).
• Using partner awards often includes a stop‑over, letting you visit an additional city at no extra mileage cost.

Additional Perks that Reduce Trip Costs

• The card gives a free first checked bag for you and up to six guests on the same reservation.
• Preferred boarding and priority boarding groups are included, speeding up the airport experience.
• No foreign transaction fees, useful if you’re traveling internationally.