So Guizmo has started a thread about this card, but I feel like I have more information to offer to warrant a new thread. Mods, if you don't think so, feel free to merge the threads or something.
I got the US Airways Mastercard from Barclaycard. It comes with a 50,000 mile sign up bonus, but NO minimum spend requirement. All you have to do is make one purchase, and then pay the annual fee of $89. So you're essentially buying 50,000 miles for $89 and a credit inquiry.
Reasons you should get this card:
1) No minimum spend requirement! Easy way for people who have never started the miles game to get started.
2) This card will not be available to new applicants sometime soon (at least by the time the US Airways and American Airlines Merger completes). Hence, if you miss this opportunity now, you will never be able to get this card again.
3) Second quarter of next year, US Airways miles will become American Airlines miles. They have a great off peak award chart, such as Central and Northern South America for 30k miles round trip 1/16-6/14 and 9/7-11/14, Europe for 40k round trip 10/15-5/15, and Japan and Korea for 50k round trip 10/1-4/30. In these examples, the off peak season is about half the year or more!
4) AA is part of the one world alliance, and they have off peak awards for flights on their partners for Southern South America for 40k RT 3/1-5/31 & 8/16-11/30, Hawaii for 35k RT 1/12-3/8 & 8/22-12/15, Europe for 40k RT 10/15-5/15, and Japan, Korea, and Mongolia for 50k RT 10/1-4/30.
5) American Airlines allows for one way redemptions (US Airways doesn't, but that won't matter once the miles programs merge into AA's).
6) While you hold the card, you get a 5000 mile discount on US airways redemptions. Sometime next year, this will change to a 10% on AA redemptions.
7) If your desired itinerary requires more than 50k miles after the cardholder discount, then you can also get the Citi AAdvantage Masetercard for another 50k miles (but that will require $3000 spend in 3 months - which is easily done through some manufactured spending techniques. See the Southwest companion pass thread for some discussion of that)
Once your miles post to your US Airways account, they won't be clawed back. That being said, I highly recommend waiting until about month 10 or so to cancel. The internets inform me that credit card companies highly dislike this practice.
Also, if you do get this card, make sure there's activity in a rolling 6 month window, or the card will be cancelled.
If you're interested in this offer, PM me your email so I can send you a referral.