Consumer Payment Card News

SkyPass VISA

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The first credit card introduced in the U.S. market by an Asian carrier was launched this week. U.S. Bank and Korean Air unveiled the new co-branded SkyPass VISA which offers redemption options on Korean Air, KAL, AeroMexico, AirFrance, Delta, Czech Airlines and Alitalia. U.S. Bank will issue four versions of the SKYPASS VISA card: Secured, Classic, Platinum and Business Platinum. The SKYPASS VISA Secured card is unique among carrier-based co-branded credit cards. The secured card is linked to a security savings account with deposits ranging from $300 to $5,000. The standard card and secured card carry a $55 annual fee while the platinum card annual fee is $85. The business card version carries a $75 annual fee. The interest rate for standard, secured and platinum is prime +9.9%. Korean Air has a fleet of 119 aircraft and operates almost 400 passenger flights per day to 82 cities in 30 countries. For more information visit www.skypassvisa.com.

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