Based out of South Korea, Asiana Airlines is a rapidly growing carrier which works hard to stand out from the crowd by branding themselves as an upscale airline. But is the Asiana credit card also a cut above the rest? Let’s do a review and find out…
Issuer: It is a Bank of America Asiana credit card. Many people assume it’s an Asiana American Express issued card (since the logo is on it) but that’s incorrect – the logo means the card operates over the American Express payment network. The actual issuer and party responsible for handling the accounts is BofA.
Annual Fee: This credit card currently carries a $99 annual fee (I have not seen any “no annual fee” promotions for it either).
Rewards: There rewards used to give 2x miles on all purchases and 3x miles on some grocery stores. But BofA changed the rewards for the worst. Sometime during 2012, the program was watered down and now this is what you will earn for 2013:
- 1 mile per dollar on regular purchases
- 2 miles per dollar on gas and grocery store purchases
- 3 miles per dollar with Asiana Airlines
Before they changed the program, it was one of the best cards on the market. Now I have a hard time justifying the $99 annual fee given that you are now earning half the rewards as before.
Signup Bonus: The Bank of America Asiana credit card offers 10,000 bonus miles for new card applicants. The annual fee is NOT waived for the first year.
Other Noteworthy Benefits: A $100 rebate on an Asiana ticket purchase once per year. This card is a member of the Star Alliance, which means you can convert use your miles on other airlines which are part of the network (around 30 different airlines). Each year it also gives a 10k bonus miles certificate and 2 one-day lounge passes.
Verdict: Previously this was undoubtedly the best card from Bank of America for rewards. But now that they took away the double miles on all purchases, the Asiana credit card is not nearl as enticing. To see how it stacks up against others, take a look at the top 10 air travel credit cards.