UBS Launches New Luxury Credit Card

UBS today announced that it will launch a new premium UBS Visa Infinite® credit card on May 27. This new card will have a sleek metal design and will be aimed at ultra-high-net-worth clients. The card provides an array of premium rewards, travel benefits and credits, including exclusive savings when users fly, stay, cruise or drive, and a rich earnings structure with rewards points that never expire while the card is open. By using the card, clients also have the benefit of concierge-style advice on all of their financial needs – from day-to-day cash management to long-term investment planning – working directly with their UBS Financial Advisor.

UBS Visa Infinite card

The UBS Visa Infinite credit card replaces the current UBS Preferred Visa Signature® credit card with no change in the $495 annual card fee. Existing UBS Preferred Visa Signature credit card clients will automatically receive the UBS Visa Infinite credit card.

UBS Visa Infinite credit card clients will enjoy a wide array of exclusive travel benefits, credits and a rewards program with flexible redemption options, which result in a total combined value that may exceed $4,000 per year. The card features a rich 3-2-1 earning structure – three points per dollar spent for commercial air travel, two points per dollar spent for gas and groceries, and one point per dollar spent for all other eligible purchases.

The card will come with a sign-up bonus. New UBS Visa Infinite credit card clients can earn up to 50,000 bonus points by spending $3,000 within the first 3 months of approval.

Travel Benefits

The card will have some of the usual perks we’ve seen on premium cards

Priority Pass Select

The card gives you free unlimited Priority Pass Select with access to over 1,000 participating airport lounges worldwide. Membership is required to access participating lounges. To request your complimentary membership card, visit ubs.com/prioritypassselect.

$250 Airline Fee Credit

This is a good benefit that offsets the annual fee quite a bit, but it only applies to one selected airline that you must choose first. Qualifying Airline Purchases must be charged to a UBS Visa Infinite credit card, either primary or additional cards. You get $250 total per account. UBS and Visa rely on airlines to submit the correct information for these transactions. Enroll in this benefit by calling us at 888-762-1232 or call collect 201-352-5257 when outside the U.S.

Visa Infinite Discount Air Benefit

Save $100 on domestic airfare with your UBS Visa Infinite credit card. Offer valid on purchase of between 2 and 5 U.S. domestic roundtrip coach tickets per reservation when purchased through www.VisaDiscountAir.com/ubs.

$100 Credit for Global Entry/TSA Pre✓

Up to $100 statement credit per card every four years in connection with the Global Entry or TSA PreCheck program application fee. Lots of people probably have this already thanks to other premium cards.

$500 Any Airport Club statement credit

A statement credit of up to $500 if your total spending on your card was $50,000 or greater during either the current calendar year-to-date or the prior calendar year. You may claim the credit only once for each year in which you qualify for a credit. If you do not claim the credit in a year, it will not carry over into subsequent years.

It probably doesn’t make sense to spend $50K on the card, so not many people will be able to take advantage of this benefit.

12 Complimentary Gogo in-flight Wi-Fi sessions

12 complimentary Inflight Wi-Fi Passes will be available to you at no additional cost after you complete the online enrollment. Passes are valid for 12 months from the date you register your card for this benefit. Any unused Passes at the end of the 12 month period will expire.

Enrollment is required at visa.gogoair.com/UBS prior to flying; registration is not available in flight.

Other Travel Benefits

  • Primary insurance coverage on car rentals
  • No foreign purchase transaction fees
  • 24/7 concierge service
  • ATM rebates, up to $10 each
  • Access to Visa Luxury Hotel Collection

Sign-Up Bonus

Based on the press release, the card comes with a 50,000 points sign-up bonus, or 25,000. Most likely the 50K bonus is just a temporary promo for the launch. To get the bonus you need to spend $3,000 in spend in the first 3 months. Must apply by December 31, 2017.

Reward Points

UBS Visa Infinite credit card clients earn 3x points on commercial air travel, 2x points on gas and groceries and 1 point on all other eligible purchases. There’s no cap on how many points you can earn. There’s flexible redemption options, including travel, gift cards, merchandise, and charity and you can get a value of 1-1.8 cents per point.

Redeeming Reward Points

The best redemption is on airfare, where you get a maximum value of up to 1.8 cents per reward point.

You can redeem 25,000 rewards points for one ticket up to $350 or 50,000 rewards points for one ticket up to $900 on any commercial airline. Tickets must be booked through UBS and charged to your UBS Visa Infinite credit card.

Once your purchase is complete, applicable rewards points per ticket will be deducted from your account and a credit posted to your credit card account for the ticket price.

For tickets costing more than $350 or $900, you must pay the difference using additional rewards points at a rate of 5,000 points for any additional cost of up to $50 of ticket value. Additional payments may be made only in increments of 5,000 points.

The bad part about redeeming for airfare is that you must cover the full cost of ticket with rewards points.

Other redemption options are statement credit for 1cpp or paying for the annual fee at 1.4cpp.

Application Process

The UBS Visa Infinite credit card will become available on May 27. You can check out the card page at ubs.com/visainfinite but must apply by calling 888-762-1232. I’m not sure if online application will be available. Furthermore, there might be restrictions on who can apply since it’s stated that the card is targeting ultra-high-net-worth clients. We’ll know more in a few days.

Advertisements

One thought on “UBS Launches New Luxury Credit Card

  1. i would get it for the first year. you can cover the annual fee with 35,500 points from the bonus and enjoy some of the benefits for the first year. the $500 club credit is just a good selling point but completely useless. you would be losing a lot by earning even 1% less cashback on that 50K compared to better earning on other cards and that’s $500 right there.

    Doesn’t measure up to either cards they’re trying to compete with.

Leave a Reply