Ben Smithson is a senior writer for TPG and is based in London. Originally from Australia and a qualified lawyer with a financial services background, he has almost a decade of experience writing about a broad range of travel and loyalty topics.
February 11, 2026 • 8 min read
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Quick summary
A new premium airline rewards card offers a substantial introductory bonus and a recurring companion benefit, appealing even to those who do not fly the airline regularly.
The card features an unusually high earning rate for purchases made outside the U.S., making it attractive for frequent international travelers.
Redemption rates for the loyalty program are competitive, with low starting points required for valuable award flights across multiple partner airlines.
Additional perks include waived award fees on partner flights, free checked bags, lounge passes, and status-earning opportunities, though some benefits are most useful for those flying the airline or its partners.
What to consider
The companion benefit applies to both the airline and a wide range of partner carriers, with minimal restrictions and annual eligibility.
Award fees are waived on partner bookings, potentially saving up to $12.50 per person one-way.
Status points are awarded annually and through spending, offering pathways to elite status within the loyalty program.
What you'll miss from the article
A detailed breakdown of how the companion benefit and unique earning structure can maximize value, even for travelers who rarely use the airline itself.
Generated by AI with support from our editorial team.
: Earn 100,000 bonus points and a 25,000-point Global Companion Award after spending $6,000 on purchases in the first 90 days from account opening.
Why this Alaska Airlines card caught my eye
It's not every day that a new premium airline credit card enters the market.
In August 2025, Alaska Airlines and Hawaiian Airlines launched their new combined loyalty program, Atmos Rewards, to much fanfare. They also announced a credit card with unique rewards and benefits that have piqued my interest.
Generous welcome offer
New cardholders can earn 100,000 bonus points and a 25,000-point Global Companion Award after spending $6,000 on purchases in the first 90 days from account opening.
TPG values Atmos Rewards points at 1.55 cents each in our September 2026 valuations, making the 100,000 points alone worth $1,550 before factoring in the Global Companion Award.
KATIE GENTER/THE POINTS GUY
The card's annual fee is $395, comparable to other airlines' premium consumer cards and much lower than some recent premium travel card refreshes.
While large welcome bonuses on airline credit cards are not unusual, this card offers a generous haul of one of the most valuable airline currencies you can collect, as well as the intriguing Global Companion Award.
3 points per dollar spent on eligible dining, purchases made outside the U.S., and Alaska Airlines and Hawaiian Airlines purchases
1 point per dollar spent on all other purchases
When I first read the earning structure and saw 3 points on dining and direct airline purchases, this seemed like a pretty standard airline credit card.
But I did a double-take when I saw the card also offered 3 points per dollar spent on foreign purchases.
That's not just foreign dining purchases or foreign spending with select airlines — it's 3 points per dollar on every purchase, regardless of category, made in a foreign currency (or dollars if the transaction is made or processed outside the U.S.).
If you frequently travel outside the U.S., like I do, that multiplier can become your most valuable everyday earning rate on a travel card.
This almost sounds too good to be true. I can't think of any other card that offers such a high earning rate on all foreign purchases.
Industry-leading redemption rates
I haven't been a member of the Atmos Rewards loyalty program (or its predecessor, Alaska Airlines Mileage Plan) because I've never visited Alaska or set foot on an Alaska Airlines aircraft.
The Global Companion Award is more generous than you might realize
cardholders receive a 25,000-point Global Companion Award in the first year after spending $6,000 or more in the first 90 days from account opening, as well as each year on the card anniversary (with no spending requirement), plus a second 100,000-point Global Companion Award after $60,000 in annual spending.
This differs from existing cards' Companion Fare and offers a 25,000-point discount (or 100,000 points after $60,000 in annual spending) on the second passenger when you book two people traveling together with Atmos Rewards points.
While some companion vouchers, like the British Airways Travel Together Ticket, have complex rules and restrictions, the Summit's award is as generous as it is simple to use.
That's because it's valid for travel on Alaska Airlines and all of its airline redemption partners, both within and outside of the Oneworld alliance, in any cabin — including Hawaiian Airlines, British Airways, Qantas, Iberia, Icelandair, Korean Air and many more. Applicable fees and taxes still apply.
SRITHAWEEPORN/GETTY IMAGES
If you're like me and don't live in a city where Alaska Airlines operates, you can still use this benefit to save points when you redeem for two people, whether you want to fly across the country or to Europe, Asia, Oceania and farther. This can make the Atmos Rewards redemption rates even cheaper when I travel with someone else.
The card also waives award fees on partner flights, which will save me up to $12.50 per person one-way when using points to book partner award tickets.
Benefits I probably won't use
The has some other interesting additional benefits, including (but not limited to):
Anniversary status points: Receive 10,000 status points each card anniversary, which is halfway to Atmos Rewards Silver status.
Pathway to elite status: Earn 1 status point per $2 spent on purchases, earning Atmos Rewards Silver status (equivalent to Oneworld Ruby status) after $20,000 in spending and Atmos Rewards Gold status (equivalent to Oneworld Sapphire status) after $60,000 in spending.
Free points sharing: You can share points with up to 10 other Atmos Rewards members at no charge.
Free checked bag: When paying with the Atmos Rewards Summit, you and up to six guests on the same reservation receive a free checked bag on Alaska Airlines and Hawaiian Airlines flights.
No change fees: Pay no change fee when making same-day changes on Alaska Airlines flights.
Lounge access: Receive eight Alaska Lounge passes per year (two per calendar quarter; partner lounges excluded), and a premium bar experience.
Departure delay voucher: Cardholders receive a $50 voucher for Alaska Airlines flights delayed two or more hours or canceled within 24 hours, regardless of the reason (voucher valid 48 hours; one per calendar day).
While these benefits are undoubtedly useful to anyone who flies regularly with Alaska or Hawaiian (or is considering switching to the airlines if they live in a city where they operate), I still don't have any plans to fly with either, so these perks are of limited use to me — especially as I already have elite status with British Airways Club.
I still haven’t flown Alaska Airlines, but I want the because its perks are as unique as they are rewarding: a limited-time online offer and a Global Companion Award that repeats every year and can be used on many different partner airlines.
There's also that unusually generous earning rate of 3 points per dollar spent on all foreign transactions.
It’s a premium airline card that makes sense even if you never set foot on the airline itself — so if you're looking for a valuable new card for your wallet, don't miss out on this offer.
By commenting, you agree to our Community Guidelines to help create a positive space for conversation. The responses below are not provided or commissioned by the bank advertiser, our partners, or The Points Guy (“TPG”). They have not been reviewed, approved, or otherwise endorsed by any of these parties. All responses are submitted by individual contributors, and neither the bank advertiser, our partners, nor TPG are responsible for ensuring that all posts and/or questions are answered.
