Air France-KLM Launches New Rewards Credit Card
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Flying Blue loyalty program fans have a new way to earn miles and points toward elite status: Air France-KLM and Bank of America have just launched a new cobranded credit card that offers bonus miles on both airfare purchases and on everyday spend.
The new Air France KLM World Elite Mastercard also comes with a 25,000-mile welcome bonus after you make $1,000 or more in purchases within the first 90 days of account opening. That bonus is worth $300 according to TPG’s latest valuations, which peg Flying Blue points at 1.2 cents each. Cardholders also will earn 5,000 miles (worth $60) every year on their account anniversary after spending at least $50 on purchases within the anniversary year.
You’ll also earn 60 Experience Points, or XP, upon card approval. That’s the currency for earning elite status that Flying Blue switched to earlier this year, replacing Level Miles and qualifying flights. The free XP is enough to get you more than halfway toward the 100 XP you need to earn Silver status. What’s more, cardholders also will receive 20 XP every year on their account anniversary. Spend $15,000 within an anniversary year, and you’ll earn another 40 XP.
As for rewards, you’ll earn:
- 3 miles per $1 on direct purchases from Air France, KLM Royal Dutch Airlines and SkyTeam member airlines
- 1.5 miles per $1 spent on all other purchases
The annual fee is $89, and there are no foreign transaction fees.
Miles can be redeemed for flights booked directly through Flying Blue partners, including Air France, KLM, Hop, Joon and Transavia. You’ll need to use Flying Blue’s pricing calculator, which will let you know the minimum number of miles needed for an award. Miles required are based on origin, destination and the date of your flight. You can also book flights through SkyTeam partners. In total, the loyalty program boasts 39 airline partners and more than 100 non-airline partners.
This card from Bank of America gets really interesting if you have a BofA checking, savings or investment account. Depending on the value of your combined accounts you can potentially get as much as 3.5x points on travel/dining and 2.625x points on other purchases making it the richest consumer banking bonus out there.
- Receive 50,000 bonus points – a $500 value – after you make at least $3,000 in purchases in the first 90 days of account opening
- Earn unlimited 2 points for every $1 spent on travel and dining purchases and unlimited 1.5 points per $1 spent on all other purchases
- If you're a Bank of America Preferred Rewards member, you can earn 25%-75% more points on every purchase
- No limit to the points you can earn and your points don't expire
- Redeem for cash back as a statement credit, deposit into eligible Bank of America® accounts, credit to eligible Merrill accounts, or gift cards or purchases at the Bank of America Travel Center
- Get up to $200 in combined airline incidental and airport expedited screening statement credits + valuable travel insurance protections
- No Foreign Transaction Fees
- Low $95 annual fee