Consumer Payment Card News

SkyPass VISA

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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