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The Korean Air SKYPASS Select Visa Signature Card has an offer for 30,000 bonus SKYPASS miles when you spend $3,000 within the first 90 days. I value these 30k points at around $510. The bonus value isn’t much versus competitors, and the annual fee is a steep $450.
This “premium” SKYPASS card actually doesn’t offer the best luxe benefits. True premium cards like the Chase Sapphire Reserve® and The Platinum Card® from American Express do much better.
That’s not to say this card is of no value to Korean Air loyalists. Actually, you can more than justify the annual fee if you utilize all the valuable card perks.
- The travel credit is worth $200.
- The TSA Pre✓ or Global Entry fee credit is worth $85-$100. You’ll only use this perk every 4 years.
- The introductory bonus is worth ~$510.
- The annual spend bonus, when you spend $35k annually, is 10,000 miles or ~$170.
- The annual Korean Air ticket coupon is for $100 off.
- The 2 KAL Lounge coupons are worth 2,000 miles(~$30+) Domestic and 4,000 miles(~$60+) International.
It just depends if you’ll use a good number of the above card benefits.
There are 4 SKYPASS cards to compare:
- SKYPASS Select Visa Signature Card (subject of this page)
- SKYPASS Visa Signature Card
- SkyBlue SKYPASS Visa Card
- SKYPASS Visa Business Card
*The SKYPASS Select Visa is issued by U.S. Bank. U.S. Bank also offers great sign-up bonuses for its Checking/Savings accounts.
CHASE SAPPHIRE RESERVE®
The Chase Sapphire Reserve® card is offering 50,000 bonus points (worth up to $1,000 in travel per our valuations). You’ll need to spend $4,000 on purchases in the first 3 months from account opening to qualify for the bonus. These 50k points are redeemable for $750 toward travel through Chase Ultimate Rewards.
This is a premium travel card with a premium annual fee of $550. But, you’ll receive premium benefits such as 5X points on air travel, 10x points spent on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after earning your $300 annual travel credit, access to 1,300+ airport lounges with Priority Pass Select, 3X points on all other travel and dining, and 50% more in travel redemption through Chase Ultimate Rewards. For all other purchases, it’s 1 point per dollar spent.
Other nice features include an application fee credit (up to $100) for Global Entry or TSA Pre✓®, and complimentary Lyft Pink and complimentary DashPass subscription from DoorDash. Also, with Pay Yourself BackSM, your points are worth 50% more for existing purchases in select, rotating categories.
You’ll earn Ultimate Rewards points with this card, which can be pooled together with certain other Chase cards. Examples include the Chase Freedom®, Chase Freedom Unlimited®, Chase Sapphire Preferred® Card and all the Chase Ink Business cards. Read more on this here.
SKYPASS Select Card 30,000 Bonus Miles Offer
Take advantage of the SKYPASS Select card’s 30,000 SKYPASS bonus miles offer. My valuation puts these points at around $510 (more on that below).
To qualify, charge at least $3,000 to your card within the first 90 days of opening your account.
Here are some ideas on meeting the spending requirement.
What Are Korean Air SKYPASS Miles Worth?
Like many other airline-branded credit cards, your miles’ worth depends on how you use them. You’ll be able to redeem for flights and upgrades on Korean Air and other SkyTeam members. There are several non-SkyTeam partners you can redeem for flights with also. On average, each SKYPASS mile is worth $0.017. That’s a good value considering the average across different rewards cards is just $0.01 per point.
You can use your SKYPASS miles towards:
- Flights (Korean Air, SkyTeam partners, non-SkyTeam partners)
- Upgrades (Korean Air, SkyTeam partners)
- KAL Lounge access
- Excess baggage (Korean Air)
- Hotel stays
- Car rentals
- KAL limousines
- Merchandise
- Coatroom service
- Visits to Jeju Folk Village Museum
You’ll get the most value for your SKYPASS miles if you use them for flights with Korean Air or a partner airline. Redeeming your rewards this way won’t be a walk in the park. But the extra leg work will be well worth it.
SKYPASS Select Card Top Features
Get automatic statement credits totaling up to $200 each membership year towards travel spending. This includes expenses that merchants classify as airlines, hotels and car rentals.
To qualify, purchases must be made directly with airlines, hotels or car rental companies.
Enjoy a variety of Korean Air perks every year. You’ll get:
- One $100 coupon towards a Korean Air ticket purchase
- Two $25 coupons towards Korean Air in-flight duty free purchases
- Two KAL Lounge coupons
Earn 10,000 bonus SKYPASS miles when you spend at least $35,000 within one membership year. To qualify, pay the card’s annual fee in the month that it’s due.
Receive a statement credit for the TSA Pre✓ ($85) or Global Entry ($100) application fee every four years.
Make purchases abroad without worrying about foreign transaction fees with the SKYPASS Select Visa Signature Card.
Bottom Line
The SKYPASS Select Visa Signature Card is a valuable premium card, but not competitive with the best on the market. It’s hard to justify the card’s $450 annual fee with the weak luxury benefits it offers.
In other words, the SKYPASS Select Visa card has premium costs, but performs like a mid-range card. There are other credit card options out there with more bang for your buck.
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Editorial Disclaimer: Opinions expressed here are author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
Disclaimer: These responses are not provided or commissioned by the bank advertiser, credit card issuer, hotel, airline or other entity. Responses have not been reviewed, approved or otherwise endorsed by any of the entities included within the post. It is not the bank advertiser's or any other entity's responsibility to ensure all posts and/or questions are answered.