Icelandair Credit Card: Comprehensive Review of Benefits and Features


Welcome to our comprehensive review of the Icelandair Credit Card. This travel credit card is designed for travel enthusiasts and frequent flyers, and it offers a variety of perks and rewards that can enhance your travel experiences.

This review will explore the key highlights of the Icelandair Credit Card, including its generous rewards program, exclusive travel benefits, and financial advantages. From earning valuable points on Icelandair purchases to enjoy a seamless travel experience with no foreign transaction fees, this credit card can help you make the most of your travels.

What is Icelandair Credit Card?

Icelandair is an airline credit card from Icelandair and First Bankcard. It is a good option for people who want a travel card that doesn’t charge foreign transaction fees, saving you money on international travel. The card also offers a decent sign-up bonus but has few other rewards or benefits.

Primarily, there are two Icelandair credit cards:

1. Icelandair Mastercard®


Icelandair credit card

This card earns only 1 point per dollar spent on Icelandair purchases and 0.5 points per dollar spent on all other purchases. While this card does have some benefits, such as an introductory bonus of 5,000 points after making your first purchase, other cards on the market offer more generous rewards. If you want to earn as many points as possible for your spending, consider other options.

Here are the exceptional features of the Icelandair Mastercard® in enticing bullet points:

  • Five thousand bonus points when you make your first purchase after opening your account.
  • One point per dollar spent on Icelandair purchases.
  • 0.5 points per dollar spent on all other purchases.
  • No international foreign transaction fees when you use your card abroad.
  • No annual fee.

These features make the Icelandair Mastercard® an excellent option for travellers who want to earn rewards for spending and saving money on foreign transactions. With this card, you can earn rewards immediately and enjoy the benefits of hassle-free travel.

Here are some additional details about each of the features:

  • Five thousand bonus points: This is a great way to jumpstart your rewards earnings and get closer to your subsequent redemption.
  • One point per dollar: This is a great reward rate for Icelandair purchases. You can redeem these points for flights, upgrades, and other travel rewards.
  • 0.5 points per dollar: This reward is reasonable for all other purchases. You can redeem these points for the same travel rewards as Icelandair purchases or other rewards like cash back or gift cards.
  • No foreign transaction fees: This greatly benefits travellers who frequently use their credit cards abroad. Foreign transaction fees can add up, so having a card that doesn’t charge them is excellent.
  • No annual fee: This is another great benefit that makes the Icelandair Mastercard® an excellent value for travellers.

If you’re looking for a credit card that offers excellent rewards, no foreign transaction fees, and no annual fee, then the Icelandair Mastercard® is an excellent option. You can apply through the official website. Always read the credit card terms sheet before applying.

2. Icelandair Premium Mastercard®



  • Earn 10,000 bonus points immediately after your first purchase.
  • Earn 2 points per $1 spent on Icelandair purchases.
  • Earn 1 point each per $1 spent on purchases other than Icelandair.
  • No foreign international transaction fees.
  • Low annual fee of $39.


  • Earn points for every single dollar you spend, which can be redeemed for flights, upgrades, and other travel rewards.
  • Enjoy no foreign transaction fees to save money on your international purchases.
  • Pay a low annual fee, so you can enjoy the benefits of this card without breaking the bank.

You can apply for the Icelandair Premium Mastercard® from the official website.

How to Redeem Icelandair credit card Points and Saga Club Loyalty Program Guide?

The Icelandair Mastercard is a credit card that allows you to earn points for the Icelandair Saga Club, the airline’s frequent flyer program. You can use your Saga Club points for various benefits, including free flights, upgrades, and purchases with partner companies. Partner awards include flights on other airlines, hotel stays, and rental cars. You can also improve your status within the Saga Club program by earning more points. The Saga Club program has three tiers: Saga Blue, Silver, and Saga Gold. Each tier offers different benefits, with Saga Gold offering the most. Even though Saga Blue offers the fewest benefits, it is an excellent way to start earning points and working towards a higher tier.

Current Saga partners include Alaska Airlines,,, Icelandair, JetBlue, and Rentalcars. com, hotels, and many more.

What is Saga Club Status?

Saga Silver

Saga Silver is the middle tier of the Saga Club loyalty program. It offers a variety of perks, including potential upgrades to higher flight classes, access to the Icelandair lounge at Keflavik Airport, premium check-in, priority waitlist, baggage benefits, and more. To achieve Silver status, members must earn 40,000 tier credits within 12 months and maintain it by earning 30,000 credits annually.

Saga Gold

Saga Gold is the premium tier in the Saga Club program. It offers all the perks of Silver status, plus additional privileges such as complimentary limousine service, free parking at Keflavik Airport, onboard Wi-Fi, security fast-tracks, priority customer service support, and a spouse card.



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