Attracting Affluent Customers

Aimed at securing high-value clients, credit card issuers are now prioritizing the attraction of affluent customers. To achieve this goal, Alaska Airlines has introduced a luxury co-branded credit card and enhanced its loyalty program.

The Atmos Rewards Summit Visa Infinite card, issued jointly with Bank of America, features an annual fee of $395 and includes perks such as reduced airfare, complimentary travel delay vouchers, and access to airport lounges.

Expanding the Frequent Flyer Program

Adding Hawaiian Airlines to its Atmos Rewards program, Alaska Airlines now allows members to earn points in various ways—through flight miles, paid fares, or the number of trips taken. This flexibility aims to attract a broader range of customers.

Premium Cards on the Rise

Ben Danner, a Senior Credit and Commercial Analyst at Javelin Strategy & Research, notes that 2025 is shaping up to be the year for premium credit cards. Recent innovations from major players like American Express, Chase, Citi, and JetBlue have paved the way for increased competition in this segment.

These new premium cards come with high annual fees—Chase’s Sapphire Reserve at $795, Amex’s Platinum card at $695, and Citi’s Strata Elite at $595—but issuers argue that the benefits vastly exceed their cost.

Industry Reaction

Following industry leaders, Alaska Airlines has entered the premium card market with a plan that mirrors successful strategies. The $395 annual fee for its Atmos Rewards Summit Visa Infinite card puts it in direct competition with similar offerings like Delta SkyMiles Platinum and United Quest Card, which both carry an annual fee of $350.

Premium Card Target Audience

Focused on attracting financially savvy individuals with credit scores above 720, these premium cards offer exclusive perks and lounge access. In a climate of rising inflation and increasing credit card debt, these customers represent a valuable segment for issuers.