Payment Card News

PremierPass MasterCard

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Citibank has launched two new rewards credit cards offering points for miles flown on any airline as well as points for all purchases. The new “Citi PremierPass MasterCard” also enables cardholders to earn points for the purchase, plus the miles flown, on tickets purchased for family or friends. Since the new card is not sponsored by an airline, cardholders can continue to earn separate frequent flyer miles from their airline carrier if they are enrolled in its frequent flyer program. Cardholders of the “PremierPass MasterCard” can earn up to 100,000 total points per calendar year, only 50,000 of which may be flight points. Cardholders of the “Elite PremierPass MasterCard” can earn up to 200,000 total points per calendar year, only 100,000 of which may be flight points. The “Elite” card carries a $75 annual fee, while the standard card is free. There are also sign-up bonus points: 5,000 for the standard card and 15,000 for the “Elite” card. Points do not expire if the card is used at least once in three years. Points earned on either “PremierPass MasterCard” can be used to purchase round-trip airline tickets on any airline worldwide, with no black-out dates, starting at 25,000 points. Unlike many generic air mile credit card programs, Citi does not cap the ticket value. Cardholders may also redeem points for merchandise via Citi’s “ThankYou Redemptions Network.” Both cards carry Citi’s standard prime +9.99% pricing. For more information visit: “http://www.citicards.com”:http://www.citicards.com

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