Iberia is a Spanish airline that is a member of the oneworld alliance. That means that you can use Iberia frequent-flyer miles to fly on other oneworld airlines, which include American Airlines, British Airways, Cathay Pacific, Finnair, Japan Airlines, LATAM (LAN), Malaysia, Qantas, Qatar Airways, Royal Jordanian, S7 and SriLankan Airlines.
Iberia calls their frequent flyer miles “avios”, and they can be interchanged with British Air avios. Sometimes, it takes fewer avios to fly on a partner airline than it would to use that airlines’ own frequent-flyer miles. So, avios can be very handy!
Good news: This card evidently is not subject to Chase’s 5/24 rule!