Iceland’s flagship airline, Icelandair, offers a World MasterCard designed to encourage traveling with them to and from destinations in 12 countries. The card is issued and managed by Barclays Bank Delaware.
The card come in two flavors: the standard credit card with an annual fee of $39, or the no annual fee card with lesser rewards. Applications for both cards can be made by following the links on the Icelandair web site. The links take users to the Barclays site where consumers can see all terms and conditions before applying for the card. Compare with other credit card offers today!
While Icelandair promotes the use of the card with their services, it can be used anywhere in the world where MasterCard is accepted.
Icelandair Credit Card – Standard Card Rewards
The standard Icelandair Credit Card with the annual $39 fee offers a points rewards credit card program. Two points are awarded for ever dollar spent on Icelandair travel, one point per dollar is earned for everything else.
A bonus of 10,000 points is awarded with the card’s first use, after the first monthly payment in excess of the balance transfer fee is made. Another 10,000 bonus points may be earned on initial balance transfers. Points can be redeemed for future Icelandair travel.
Icelandair Credit Card – Rewards for No Annual Fee Card
The points program for the no annual fee card works the same way in terms of administration and redemption. The value of points earned is where the difference lies.
Card holders earn one point for every dollar spent Icelandair tickets, and one point for every two dollars spent everywhere else. 5,000 bonus points are awarded with the card’s first use, according to the same guidelines as the standard card. The 10,000 point bonus for balance transfer credit card use is identical.
Icelandair Credit Card Interest Rates
Neither of the two cards offers a low introductory rate on purchases. For U.S. residents, however, there is a six-month 0% rate for balance transfers. The standard APR is slightly higher than average, ranging from 15.24% to 18.25%. The cash advance APR is also slightly higher at 21.99%.
Account fees include 4% or $10 charged for balance transfers, 3% or $10 on cash advances, and a straight 3% on foreign transactions. There appears to be no default APR assessed for late payments and other penalties.
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