Cathay Pacific Is Introducing A U.S. Credit Card Tomorrow

I’m always excited to see new credit cards products introduced. Competition is (almost) always a good thing for consumers, and lately we’ve really seen credit card companies raise their game and increase perks.

While no credit card is perfect, there are plenty of reasons to consider picking up a card. Some cards are worth getting for their big sign-up bonuses, others are worth getting for the return they offer on everyday spend, and others are worth holding onto for the long term perks they offer.

For a while there have been rumors that Cathay Pacific will be introducing a U.S. credit card, and it looks like that will finally officially be announced tomorrow.

They’re teasing it on their Facebook page at the moment, as they’re saying to check back on February 13 for an “exciting announcement.” The video makes it pretty obvious that they’re introducing a credit card.

There are some further details on Reddit about what we can expect from The Cathay Pacific Signature Visa Card:

  • The card will offer a sign-up bonus of 25,000 Asia Miles after spending $2,500 within 90 days of account opening
  • The card will be issued by Synchrony Bank

For those of you not familiar with Synchrony Bank, they primarily issue credit cards for retailers. For example, they issue the credit cards for Banana Republic, Dick’s Sporting Goods, Toys R Us, Walmart, etc.

Some of those cards offer decent bonuses for spend at specific retailers, but overall they have weak sign-up bonuses and don’t offer compelling return on everyday spend.

As far as the 25,000 mile sign-up bonus on the Cathay Pacific card goes, that doesn’t strike me as all that compelling. Cathay Pacific’s Asia Miles program is decent enough. There are some sweet spots, though it’s far from an industry leading program. Asia Miles is an Amex Membership Rewards and Citi ThankYou partner, so I’m a bit surprised to see them not go with one of those issuers for their new U.S. card.

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Bottom line

We should find out all the details of Cathay Pacific’s new U.S. credit card tomorrow. So far it seems fairly certain that it will offer a sign-up bonus of 25,000 miles and will be issued by Synchrony Bank. I know many will find value in getting the card for the bonus, though hopefully there are other benefits that make the card worth holding onto.

I’ll be the first to admit that I don’t understand everything that goes on behind the scenes when these credit card contracts are negotiated. At the same time, I’m a bit confused about what causes an airline like Cathay Pacific to issue a card with an issuer like Synchrony, which has very little experience and exposure in the travel space, unlike American Express, Chase, Citi, etc.

What do you guys make of Cathay Pacific’s new U.S. credit card? Is a 25,000 mile sign-up bonus enough to get you to sign-up?

(Tip of the hat to @IadisGr8)

Comments

  1. CX has a credit card in Canada and it never offered anything remotely competitive to even RBC Avion (like Citibank has points to convert into Asia Miles). And RBC is the bank thst issues CX Asia Miles card…

  2. Heh. The missus might get one. Their offer here in HK is not really better – we have to pay about 4k to get 30k miles. Granted, it’s a puny sign-up bonus, but here in Hong Kong there are too many churners for banks to offer more.

    I always wondered though why Lucky values AM only at 1.2c/m. Their business class is decent, the second cheapest for the programs I see (after ANA), and availability is pretty good (unlike ANA, where I never see anything but ‘Waitlist’). Granted, I’m based here – but I still rather pay 120/180 for SFO-HKG return than 140/220 AAdvantage miles…

  3. Yeah, doesn’t sound all that exciting. So it’s not likely they’ll be overwhelmed with people signing up.

    The Avianca card seems to have crushed Banco Popular under too many sign ups. Lots of people reporting lots of trouble with that card over on FT. I didn’t have any problems, but I think I was one of the first to sign up for that one given all of the 0s in my number.

  4. @Oliver–those issuers tend to have high annual fees, paltry sign-up bonuses and low credit limits. The fact that they issue dept store cards is a red flag. Department store cards are verboten among seasoned churners.

  5. Like SQ, AM expire 3 years from issue date, with AFAIK no way to extend that.

    Paltry sign up, questionable bank, expiring miles. Pass….

  6. @Oliver, I have to agree with you. I’d much rather hold Asia Miles over AAdvantage. You never know when the next devaluation is. Look at the US to Australia awards. It’s ridiculous.

    One thing I will say about Asia Miles. There hasn’t been much change to the rates. It’s stable at least.

  7. I would def not put Cap One in the same category as Synchrony and Comenity. Cap One has great starting limits and nice sign up bonuses. I have a 46 k CL on my Venture One and a 23k limit on my Venture. Never had CLD or any other problems. I will app for the Cathay card if ther is no AF. I fly them regularly. Great airline. I book award travel on them using AK miles.

  8. @Lucky: can you use you influence to get Hertz and National Rental Car to issue co-branded credit cards with perks? Rental car is one aspect of travel that you can’t accrue any free redemptions other than by racking up as a frequent renter. Would be nice to earn rental car points that could be globally redeemed. Current programs of conversion of hotel points or FF miles are not good uses of those points and very restricted (no one-way rentals, for example).

  9. WOW! Only “benefit” for this POS card is free FIRST YEAR ONLY Green membership in Marco Polo club. Lame. Pass.

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