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Welcome to FT!

There is no such thing as "oneworld miles"; oneworld is an alliance of several different airlines, including AA, BA, QANTAS, and others. Each oneworld airline has its own frequent-flyer program. When you fly AA, you can credit your miles to AAdvantage, or -- depending on the type of fare you paid -- to the FFP of a different oneworld airline. Similarly, you can redeem AAdvantage miles for travel on AAdvantage's oneworld (and non-oneworld) partners.

Each FFP has its own redemption rates, fees, and rules. So, for example, a one-way flight in Business Class from JFK to BDA on an AA nonstop will cost more AA miles than BA Avios. Conversely, an award from JFK to SFO on AA, connecting to SFO-HKG on Cathay will cost far more BA Avios than AAdvantage miles.

For intra-European travel, BA Avios will generally provide better value than AA miles. For long-haul travel, AA miles will usually provide better value than BA Avios -- especially if flying on a carrier other than BA.

Is there not a UK-issued credit card that earns AA miles?

Re: earning status. Check the requirements for status on both AA and BA. If you primarily fly Economy Class, it will probably be easier to earn status on AA, but you must also fly at least four AA flights per calendar year to earn any status on AA.

Good luck!