Alaska Airlines Premium Credit Card: Incredibly Lucrative!

Link: Learn more about the Atmos™ Rewards Summit Visa Infinite^® Credit Card

It’s an exciting time for Alaska Air Group. I’ve already covered how Alaska & Hawaiian unveiled their new Atmos Rewards loyalty program, and Alaska revealed it will introduce Starlink Wi-Fi.

More from OMAAT COOL: Alaska Adds Anchorage To Tokyo Narita Flights, With Boeing 737 MAX! Read more

Now let’s get to what might just be the most exciting development, which is the highly anticipated introduction of Alaska’s premium credit card, the Atmos™ Rewards Summit Visa Infinite^® Credit Card. I have to say, this is in my opinion the most interesting and compelling airline credit card launch that we’ve seen in a very long time.

Atmos Rewards Summit Visa Card details: fee, bonus, and perks

The Atmos Rewards Summit Visa Card is the premium credit card for Alaska and Hawaiian. The card is issued by Bank of America, has a $395 annual fee, and is incredibly compelling. Let’s cover the very basics, and then soon I’ll have a full review.

The card has a limited time welcome bonus where you’ll receive 100,000 bonus points and a 25,000-point Global Companion Award with this offer. To qualify, spend $6,000 or more on purchases within the first 90 days of opening your account.

I see nothing preventing people from qualifying for this bonus if they have another type of Alaska card.

When it comes to the rewards structure, the Atmos Rewards Summit Visa offers 3x points per dollar spent on eligible dining purchases, eligible foreign purchases, and Alaska and Hawaiian purchases. All other purchases earn 1x points per dollar spent. If you have an eligible Bank of America account, you can receive a 10% rewards bonus on all purchases, meaning you could earn up to 3.3x points per dollar spent.

That bonus on foreign purchases is something we’ve never seen before on a card, and I love it. It applies to purchases made in foreign currency, and US dollar transactions, if processed outside the United States.

Arguably the best part of the card is the ability to earn Global Companion Awards:

• Every anniversary year you receive a 25,000-point Global Companion Award just for having the card and paying the annual fee
• If you spend $60,000 on the card in an anniversary year, you receive a 100,000-point Global Companion Award

These Global Companion Awards can be used for a companion to fly with you on an award, whether traveling on Alaska or a partner airline. There does need to be award availability for two people, and you can supplement these Global Companion Awards with more points (meaning it’s fine if the award costs more than 25,000 or 100,000 points).

That’s only the start of the card’s perks, though:

• The card offers a boost of 10,000 status points toward status each year, starting on the first card anniversary
• The card offers one status point for every $2 spent, with no cap on how many status points you can earn
• The card offers waived award fees; we’re talking about the $12.50 partner award booking fee that applies per passenger one-way, and not fuel surcharges
• The card offers eight Alaska Lounge passes per year (two per quarter), each of which is valid for the entire travel day, and covers one adult plus accompanying children
• The card offers eight Alaska inflight Wi-Fi passes per year (two per quarter), each of which is valid for one session
• The card offers an instant travel delay credit, so if you fly Alaska and experience a delay of more than two hours for any reason, or cancellation within 24 hours of departure, you’ll automatically receive a $50 voucher you can redeem with select merchants
• The card offers waived same-day confirmed flight change fees, saving $50 on each one-way flight
• The card offers a free checked bag and preferred boarding for the cardholder and up to six additional guests on the same reservation, when flights are purchased with the card
• The card offers upgrade priority — if you’re an elite member eligible for an upgrade, your upgrade priority will be determined by your elite tier, then based on whether you have million miler status, and then based on whether you have this card
• The card offers free points sharing, allowing you to share your Atmos Rewards points with up to 10 friends and family, all at no cost
• The card offers the ability to transfer points to five hotel partners, including IHG One Rewards, Marriott Bonvoy, Preferred Hotels, Shangri-La Circle, and Wyndham Rewards
• The card offers strong purchase protections, including primary rental car coverage and travel coverage for delayed flights, lost bags, and more

Alaska’s new premium credit card is absolutely stellar

The new Atmos Rewards Summit Visa Card is the most compelling co-branded airline credit card that we’ve seen launched in a very long time. This is exactly how it should be done — there’s a massive incentive to apply for the card, to hold onto the card, and to keep the card.

I’d argue that the $395 annual fee is more or less covered by the 25,000-point Global Companion Award, assuming you redeem this points currency with any frequency. There’s also the benefit of the waived partner award booking fee, eight Alaska Lounge passes, and much more.

But then I’d argue that actually spending money on the card is worthwhile as well. For one, being able to earn 3x points on foreign purchases is a bonus category we’ve never seen before, and I think that will be a pretty great opportunity for those of us looking to maximize value.

I’d also argue that the 100,000-point Global Companion Award is a compelling reason to spend $60,000 on the card per year. I redeem Alaska points frequently, and I’d argue that the Global Companion Award is one of the best bonuses you’ll find for spending a large amount.

Then once you’ve actually spent $60,000 on the card, earning status looks pretty compelling. That $60,000 in spending earns you 30,000 status points, in addition to the 10,000 status points you get annually for having the card. At that point, you’re basically all-in on the Atmos Rewards ecosystem, especially when you consider that the program awards status points for award flights as well.

Seriously, folks, this is how it’s done. I don’t remember the last time that I’ve seen an airline credit card launch that had this much thought put into it. What a contrast to JetBlue’s recently introduced premium credit card, which was a bit of a flop.

Bottom line

Alaska has the Atmos Rewards Summit Visa Card, and it’s incredibly compelling. The card has a $395 annual fee, a huge welcome bonus, and there’s value to having the card whether you spend very little or a lot.

Bigger picture, this card alone is a major reason to consider being engaged in and loyal to Atmos Rewards, since the value really adds up. I’ll have a more in-depth review soon.

What do you make of Alaska’s new premium credit card?