As we all know, nowadays a large percentage of profits in the US airline industry are derived from loyalty programs, and in particular, co-brand credit card agreements. The bigger an airline is, the more lucrative its loyalty program can be.
Alaska Airlines is probably the airline that most punches above its weight when it comes to loyalty, so there’s an interesting update…
In this post:
Alaska & Bank of America will strengthen ties even more
Alaska Air Group and Bank of America have announced a multi-year extension of their co-branded credit card agreement, covering the Atmos Rewards loyalty program.
Alaska has partnered with Bank of America for more than 30 years. Historically Hawaiian has partnered with Barclays, but we’ve already known that Bank of America would become the exclusive issuer of co-branded Atmos Rewards credit cards, covering all of Alaska Air Group.
As it’s described, the renewed agreement will deepen integration between Alaska and Bank of America by:
- Creating incremental value for both companies
- Increasing investment in the Atmos Rewards brand, Alaska and Hawaiian’s lounge program, and enhancing the suite of credit cards (including new cards and refreshes of existing cards)
- Enhancing technology and the cardholder experience, including expanded benefits across multiple card offerings
As you can see, this is pretty vague. So when can we expect to see changes? The Q&A section says that they’re “actively working to introduce enhanced benefits in the future and new product features as they become available,” and “cardholders will be informed of specific updates” at “the appropriate time.”
The press release notes how renumeration from the co-brand card portfolio grew 10% in 2025, fueled by the launch of the Atmos Rewards loyalty program, and the new premium Atmos Rewards Summit Card. Here’s how Alaska CEO Ben Minicucci describes this update:
“Bank of America has been a foundational partner to Alaska’s growth over the last few decades. Together, they have helped us build the airline industry’s most generous and valuable loyalty program. Extending this partnership will mean even greater benefits for cardholders, taking them further as Alaska and Hawaiian expand across the globe.”
What changes could we see from Alaska & Bank of America?
It’s of course not surprising to see this partnership expanded. Over time, airlines hope to grow their loyalty revenue, and a key part of that is richer co-branded credit card agreements. As it impacts Atmos Rewards members, it seems the biggest updates will be increased investments in the lounge programs, and enhancing the suite of co-branded credit cards, including new cards and refreshes to existing cards.
So we’ll see what exactly changes to existing cards entails, as I could see that going many ways. When it comes to introducing new cards, I imagine there are a couple of products that are most likely:
- A new ultra-premium card offering a full Alaska Lounge membership, given that every US airline with a lounge network has a card that offers a full lounge membership; Alaska’s most premium card, the Atmos Rewards Summit Card, only offers eight Alaska Lounge passes per year
- A more premium business credit card, given that there’s currently only one co-branded business card, which is the Atmos Rewards Business Card
So we’ll see how this plays out, and with what timeline this all happens, but it should be good news. The one opportunity that doesn’t existing is with transferable points. Unlike American Express, Chase, Citi, etc., Bank of America doesn’t have a transferable points program. For example, when American and Citi recently expanded their partnership, that included AAdvantage finally becoming a Citi ThankYou transfer partner.
Bottom line
Alaska Air Group and Bank of America have revealed that they will be expanding their partnership, which is expected to improve economics for both companies. This will include new credit cards, and more perks on existing cards.
Obviously the way you improve the economics of partnerships like this is by getting people to apply for more cards, and also to spend more money on cards, so I imagine this should be good for consumers.
What are you expecting from Alaska and Bank of America strengthening ties?
To each his own…several people have said they have no interest in getting an Alaska co-branded card, or they see no value in AS miles/ATMOS points, or…or…or…. YMMV.
I have the original BofA Alaska card; so does my wife. In addition, I have the ATMOS Summit card. The annual two domestic companion passes from the original card has saved us literally thousands and thousands of dollars over the years on flights out of SFO to...
To each his own…several people have said they have no interest in getting an Alaska co-branded card, or they see no value in AS miles/ATMOS points, or…or…or…. YMMV.
I have the original BofA Alaska card; so does my wife. In addition, I have the ATMOS Summit card. The annual two domestic companion passes from the original card has saved us literally thousands and thousands of dollars over the years on flights out of SFO to Hawai’i and the East Coast. That’s worth the $95 AF for each card.
Most bloggers value ATMOS points between $0.015-$0.016 each. Fine. We have flown JAL in business on points and realized over 10¢ in point value (2025). SFO-HNL, 3.5¢ redemption value. To Rome on Condor, 6.7¢. I think the value is there, but — like I said — YMMV.
Speculation: BofA/AS comes out with a super-pricey card that includes lounge access…
The Citi AA Executive card grants full access to both Admirals Clubs and Alaska Lounges. The AF is less than buying an Alaska Lounge+ pass; it is also less than buying an Admirals Club pass directly from AA. If that continues, I cannot see a reason why I should drop the Summit card and get the new one. If Citi drops access to Alaska Lounges, and the Lounge+ no longer gives access to Admirals Club, I’ll see exactly what access the new card grants, and if the math works out...
Alaska Airlines used to be one of Canada's airlines of choice with flights to a large number of Canadian Cities and with the new partnership with Porter Airlines.
We always had an Alaskan Airlines Credit Card I think with Toronto Dominion (TD) Bank that offered all the perks - miles and partner flies free awards. That ended during Covid.
We Canadians really need a card for Alaska. It would be a real improvement for all of us to have access to Alaska.
Lounge access is not a unique benefit if they know most customers already have a cc with a lounge benefit attached. The Alaska lounges are not special compared to centurion or sky club, which raises the question of what else a new premium cc could bring.
If the ultra-premium card offers a Lounge+ membership (with access to Admirals Clubs) and similar or better earnings to the Summit, it'd be something I'd consider. I can drop my AA Exec card, which I don't really get value out of, but I keep around anyway.
Was glad to see Alaska Air actually adopt MFA on their website, recently. Like, what took them so long. A few folks had their accounts hacked before this. Sheesh.
I’m based in SF and felt as though I was tricked into upgrading first to a small business card a year ago, only to have the Summit card rolled out last summer, which I than also applied for. It was only after I received my welcome packet for the summit card that I learned the two quarterly lounge passes were use it or lose it with no ability to use a Q1 pass in April....
I’m based in SF and felt as though I was tricked into upgrading first to a small business card a year ago, only to have the Summit card rolled out last summer, which I than also applied for. It was only after I received my welcome packet for the summit card that I learned the two quarterly lounge passes were use it or lose it with no ability to use a Q1 pass in April. That really annoyed me as I had 0 Q1 Alaska travel. The icing on the cake was Alaska dumping a quarter of its SFO flights, devaluing the worth of the Atmos program to a B-tier FF program (for me). In short, Alaska has made a future United Gold Status flyer out of me
Unfortunate to hear as BoA has the worst customer service of all of the credit card companies. I was denied the new card, they couldn’t explain why on the phone, and insisted on correspondence via mail.
I guess it's not customer service if you're not a customer
Anyone that gets denied for a BoA credit card HAS to be a pathetic loser with no redeeming value in life. Perhaps it's time to put aside your hentai porn addition, move out from your mother's basement and become a productive member of society.
No reason to talk about yourself like that.
@JohnRossa A real hero's journey. Please tell me there's a documentary crew following you around.
BofA app and website are industry laggards.
Setting up seemingly simple things like autopay can be challenges
Run a business while depending on BoA reps to support cc issues? No way.
Alaska should have kicked them to the curb.
Until they partner with AMEX, I will have no interest in Alaska points.
Once BoA offers a premium card for full lounge access, I would bet that Citi AA Exec will lose access to their lounges.
Wonder if the Hawaiian lounges will be included with a new AS premium card. My understanding is that the Citi Exec card doesn’t allow access Hawaiian Lounges like the Plumeria Lounge at HNL.
That's correct. Anchorage, Los Angeles, San Francisco, Portland, San Francisco and Seattle (Alaska Lounges) and San Diego (Aspire Lounge) are the only non-AA lounge options with AAdmirals club membership in North America.
I dropped my Alaska card last year after about 20 years because the zero annual fee card was no longer offered. I fly 1 to 2 times a year and charge about 15k a year.
BoA denied my application. Morons. I’m equity partner at a top law firm clearing $10MM a year.
maybe try paying your credit card bills
Arps!!??! Is that you? I hope so, how I've missed your comments.
Executive Summary: Expect devaluations.
More cards coming means more points handed out like Halloween candy. Bloggers gonna flog and flog. More cards issued, more signup bonuses paid. More points chasing fewer seats. All quickly and directly lead to more and deeper devaluations. AtmoSkyPesos. Count on it.
theres literally no mathematical way they can hand more points out than what happened during the period where Amex-Hawaiian-Alaska was allowed. Many points veterans transferred hundreds of thousands/millions to Alaska during that period. an extra card will be a blip compared to that
This is 100% correct.