Indeed, going forward my 'benchmark' for CW usage for avios looks close to 0.75p. RFS and intra US probably will more regularly find the >1.0p mark.

So now avios are dropping below the 1% level, it'll be interesting to see if the MR and Tesco converters and others with alternative credit card incentives will head elsewhere. I guess BAEC are keeping an eye on this too.

Presumably avios redemptions are "cheaper" for BAEC if on BA metal? If so, interesting if they have to do a re-tweak in 15 months or so.