Maximize Rewards with Alaska Airlines Credit Cards

I. Introduction: The Alaska Airlines Credit Card Landscape

Co-branded airline credit cards are a cornerstone of loyalty programs, offering travelers a way to earn miles on everyday spending and enjoy airline-specific perks. Among these, the Bank of America Alaska Airlines Visa Signature® (for personal use) and the Alaska Airlines Visa® Business Card have carved out a significant niche, particularly for those who frequently fly with the Seattle-based carrier or aim to leverage its highly-regarded Mileage Plan program.¹⁰

This report provides a deep dive into the benefits, costs, and overall value proposition of these credit cards. The Alaska Airlines credit cards, especially the personal Visa Signature, are frequently praised for one standout feature: Alaska’s Famous Companion Fare™. For many cardholders, this single benefit can justify the annual fee year after year. However, a comprehensive assessment necessitates a closer look at mileage earning rates, ancillary travel perks, and how these align with diverse traveler profiles and spending habits. Understanding these elements is key to determining if an Alaska Airlines credit card is a worthwhile addition to one’s wallet.

II. Alaska Airlines Visa Signature® Credit Card (Personal Card)

The personal Alaska Airlines Visa Signature® card is the more common of the two and carries a suite of benefits tailored to the individual traveler.

A. Current Welcome Offer

New cardholders are typically greeted with an attractive welcome package, which often includes ¹⁵:

• Bonus Miles: A substantial number of Mileage Plan bonus miles (offers have historically ranged from 60,000 to 70,000 miles) after meeting a minimum spending requirement within the first few months of account opening.
• Initial Companion Fare: The valuable Companion Fare is often included as part of the sign-up bonus, allowing a new cardholder to utilize this perk early on.
• Flight Discount Code: Some offers may also include a percentage-based discount code for a future Alaska Airlines flight.

B. Mileage Earning Rates

The card accrues Mileage Plan miles at the following rates ¹⁰:

• 3 miles per $1 spent on eligible Alaska Airlines purchases (including flights, inflight purchases, and vacation packages).
• 2 miles per $1 spent on eligible gas, EV charging stations, cable, streaming services, and local transit (including rideshare) purchases.
• 1 mile per $1 spent on all other purchases.
• 10% Rewards Bonus: Cardholders who also have an eligible Bank of America® deposit account (like checking or savings) can earn a 10% bonus on all miles earned from card purchases. For example, earning 1,000 miles from purchases would result in an additional 100 bonus miles.¹⁵

C. Alaska’s Famous Companion Fare™

This is arguably the card’s most significant ongoing benefit ¹⁰:

• Details: It allows the primary cardholder to book a round-trip coach companion ticket on Alaska Airlines flights for a base fare of $99, plus applicable taxes and fees (which start from $23).
• How to Obtain: The Companion Fare is awarded upon approval for new cardholders (as part of the welcome offer). Subsequently, it is awarded each year on the account anniversary, provided the cardholder has spent $6,000 or more on purchases with the card within the prior anniversary year. It’s worth noting that some long-time, “grandfathered” cardholders may have terms that do not require this annual spend.¹⁹
• Value: The potential savings from the Companion Fare can be substantial, particularly on more expensive routes such as transcontinental flights or travel to Hawaii.¹⁶ For many, this perk alone makes the annual fee a worthwhile investment.

D. Travel Perks

Beyond mileage earning and the Companion Fare, the card offers several travel-enhancing benefits:

• Free Checked Bag: The primary cardholder and up to six additional guests traveling on the same reservation can each check their first bag free of charge when the flight is purchased with the Alaska Airlines Visa Signature® card.¹⁰ This can equate to savings of $70 per person on a round-trip flight, based on a $35 first checked bag fee each way.
• Priority Boarding: Cardholders receive priority boarding when they pay for their Alaska Airlines flight with their card, allowing for earlier access to overhead bin space.¹⁰
• Alaska Lounge+ Discount: A $100 discount is offered on an annual Alaska Lounge+ Membership when purchased with the card.¹⁰
• Inflight Purchase Rebate: Cardholders receive 20% back as a statement credit on Alaska Airlines inflight purchases, including food, beverages, and Wi-Fi, when paid for with the card.¹⁵
• No Foreign Transaction Fees: The card does not charge foreign transaction fees on purchases made outside the United States, making it a good option for international travel.¹⁶
• Elite Qualifying Mile (EQM) Earning Potential: For 2025, cardholders can earn one elite-qualifying mile (EQM) towards Mileage Plan status for every $3 spent on purchases, up to a maximum of 30,000 EQMs for the year.¹⁶

E. Annual Fee

The Alaska Airlines Visa Signature® credit card typically has an annual fee of $95.¹⁵

The overall worth of the personal card is heavily influenced by a cardholder’s ability to maximize the Companion Fare and the free checked bag benefit. For individuals who fly Alaska Airlines infrequently, travel solo, or primarily use carry-on luggage, the direct financial benefits may be less compelling when compared to general travel rewards cards that offer broader bonus categories or more flexible redemption options. However, for those who align with the card’s core strengths, the value can be exceptional. For example, a couple traveling once a year on a route where tickets are $400 each could save approximately $277 with the Companion Fare ($400 ticket – $99 fare – $23 taxes/fees), easily justifying the $95 annual fee even with the $6,000 spend requirement. If that same couple also checks one bag each round-trip, they save an additional $140 in baggage fees.

III. Alaska Airlines Visa® Business Credit Card

Designed for business owners, this card mirrors many of the personal card’s benefits but is tailored for business expenditures.

A. Current Welcome Offer

Similar to the personal card, new Alaska Airlines Visa® Business cardholders can typically expect a welcome offer consisting of bonus miles and an initial Companion Fare after meeting a minimum spending threshold.¹⁰ For example, a common offer is 60,000 bonus miles and the Companion Fare after $4,000 in purchases within the first 90 days.⁴⁸

B. Mileage Earning Rates

The earning structure is slightly different, catering to business spending patterns ¹⁰:

• 3 miles per $1 spent on eligible Alaska Airlines purchases.
• 2 miles per $1 spent on eligible gas, EV charging stations, shipping, and local transit (including rideshare) purchases. The inclusion of shipping as a bonus category is a key distinction for businesses.
• 1 mile per $1 spent on all other purchases.
• 10% Rewards Bonus: Similar to the personal card, businesses with an eligible Bank of America® small business account can earn a 10% bonus on miles earned from card purchases.¹⁷

C. Alaska’s Famous Companion Fare™

The Companion Fare benefit operates similarly to the personal card, typically requiring an annual spend (e.g., $6,000) for renewal after the initial offer.⁴⁸

D. Travel Perks

The business card generally includes the same travel perks as the personal version ¹⁰:

• Free First Checked Bag for the cardholder and up to 6 guests on the same reservation.
• Priority Boarding.
• $100 off an annual Alaska Lounge+ Membership.
• 20% back on Alaska Airlines inflight purchases.

E. Annual Fee Structure

The annual fee for the Alaska Airlines Visa® Business card is typically $70 for the company plus $25 per employee card issued.¹⁰ This structure allows businesses to provide cards to employees while managing costs.

The business card offers a strong value proposition for companies whose employees frequently travel with Alaska Airlines or incur significant expenses in the bonus categories like shipping.

IV. Pros and Cons: A Balanced View

Evaluating any credit card requires weighing its advantages against its drawbacks.

Pros:

• Highly Valuable Companion Fare: This is consistently cited as a top benefit, capable of saving hundreds of dollars annually and easily offsetting the annual fee for those who use it effectively.¹⁶
• Free Checked Bags: A significant money-saver for individuals, families, or groups who regularly check luggage on Alaska Airlines.¹⁶
• Priority Boarding: Enhances convenience and access to overhead bin space.¹⁶
• Strong Earning on Alaska Airlines Purchases: 3x miles is a competitive rate for direct airline spending.¹⁶
• Useful Bonus Categories: The 2x categories (gas, transit, streaming, shipping for business card) cover common expenses.¹⁶
• 10% Mileage Bonus with BoA Account: A nice boost for Bank of America customers.¹⁵
• Lounge Discount and Inflight Rebates: Added perks that enhance the travel experience and offer modest savings.¹⁵
• No Foreign Transaction Fees (Personal Card): Essential for international travelers.¹⁶
• Value of Alaska Miles: Mileage Plan miles are generally considered valuable and offer excellent redemption opportunities on Alaska and its diverse range of partner airlines.⁹

Cons:

• Annual Fee: $95 for the personal card and $70 for the company plus $25 per card for the business version must be factored in.¹⁶
• Companion Fare Spend Requirement: For many cardholders, the $6,000 annual spend to receive the Companion Fare upon renewal is a significant hurdle and opportunity cost.¹⁶
• Subpar Earning on Non-Bonus Spending: The 1 mile per dollar rate on general purchases is not as competitive as some other travel rewards cards that offer 1.5x or 2x on all spending.¹⁶
• Benefit Utility: The card’s value diminishes significantly if the cardholder does not fly Alaska Airlines frequently, rarely checks bags, or cannot utilize the Companion Fare.²⁰
• Bank of America Customer Service: Some users have reported dissatisfaction with Bank of America’s customer service, which could be a deterrent.²⁰
• Limited Mileage Transfer Options: Alaska miles are primarily earned through flying, co-branded card spending, or transfers from only two major flexible points programs (Bilt Rewards and Marriott Bonvoy), making them somewhat harder to accumulate via transfers compared to currencies like Chase Ultimate Rewards or Amex Membership Rewards.¹⁶

The card’s worth is intrinsically linked to an individual’s or business’s travel patterns and their ability to maximize the Alaska-specific benefits. It is not a universally optimal travel card but rather a specialized tool.

V. How Does It Compare to Other Travel Rewards Cards?

When considering the Alaska Airlines credit cards, it’s useful to compare them against general travel rewards cards that offer flexible points currencies. Programs like Chase Ultimate Rewards (earned via Sapphire cards) and American Express Membership Rewards (earned via Gold/Platinum cards) provide points that can be transferred to a wide array of airline and hotel partners, offering greater versatility.¹⁶

The Bilt Mastercard, with no annual fee, also allows 1:1 transfers to Alaska Mileage Plan, making it a strong contender for earning Alaska miles on rent and other purchases without an airline-specific card.⁸ Cards like the Capital One Venture Rewards offer a straightforward fixed value for travel redemptions and also have airline transfer partners.¹⁶

For businesses, alternatives like the United℠ Business Card or the Ink Business Preferred® Credit Card offer different reward structures and perks, such as broader bonus categories or more flexible point redemptions, which might be more suitable depending on the business’s spending and travel needs.⁵⁰

The primary trade-off is between the targeted, high-value perks of an airline-specific card like Alaska’s (especially the Companion Fare) and the broader flexibility of general travel rewards cards. An Alaska loyalist who can leverage the unique benefits will likely find more direct value from the Alaska card than a diversified traveler who might prefer the adaptability of transferable points.

VI. Who Should Get the Alaska Airlines Credit Card?

The Alaska Airlines credit cards are most suitable for:

• Frequent Flyers on Alaska Airlines: Particularly those based on or frequently traveling along the U.S. West Coast.
• Travelers Who Can Maximize the Companion Fare: Individuals, couples, or families who can consistently use this benefit for significant savings.
• Passengers Who Regularly Check Bags on Alaska: The free checked bag allowance can quickly offset the annual fee.
• Individuals or Businesses Aiming to Earn Alaska Miles for Partner Redemptions: Mileage Plan offers excellent value on many international partner awards.
• Bank of America Customers: The 10% bonus on miles earned from card purchases is an added incentive.

User discussions on platforms like Reddit echo these points: many find the card highly valuable due to the Companion Fare and free checked bags, especially those with grandfathered terms on the Companion Fare.¹⁹ However, the $6,000 spend requirement for the Companion Fare for newer users and occasional concerns about Bank of America’s service are recurring themes.¹⁹

The card functions best not necessarily as a primary card for all everyday spending (due to the 1x base earn rate), but as a specialized instrument for maximizing the value of travel with Alaska Airlines.

VII. Conclusion: The Verdict

The Alaska Airlines Visa Signature® and Visa® Business credit cards offer a compelling suite of benefits, headlined by the exceptionally valuable Famous Companion Fare™ and free checked bag allowance. For travelers whose patterns align with these core perks—primarily those who fly Alaska Airlines with some regularity, travel with a companion, and check luggage—the annual fee is often easily justified, and substantial savings can be realized.

However, the cards are not a universal solution. The $6,000 annual spend requirement for the Companion Fare (for most current cardholders) necessitates a careful calculation of opportunity cost versus rewards earned on other cards. For those who fly Alaska infrequently or prioritize flexible travel rewards transferable to multiple programs, alternative credit cards might offer a better overall return.

Ultimately, the decision to acquire an Alaska Airlines credit card should be based on a personalized analysis of one’s own travel habits, spending patterns, and ability to leverage the unique benefits offered by these cards.

Alaska Airlines Visa Signature® Credit Card Benefits at a Glance

Benefit	Details	Estimated Value/Consideration
Welcome Offer	Typically bonus miles (e.g., 60K-70K) + initial Companion Fare + possible flight discount after min. spend 15	Bonus miles worth $900-$1050 (at 1.5 cents/mile). Companion Fare can save $100s.
Mileage Earning	3x on Alaska; 2x on gas, EV, transit, cable, streaming; 1x elsewhere 15	Strong for Alaska spend. Bonus categories are useful. Base 1x earn is average.
Companion Fare	$99 + taxes/fees (from $23) for a companion annually after $6k spend (for most) 15	Potentially $100s in savings, often exceeding the annual fee. Crucial to meet spend if required.
Free Checked Bag	For cardholder + up to 6 guests on same PNR when paying with card 15	Saves $35 per bag, per direction. For a couple checking one bag each round-trip: $140 savings.
Priority Boarding	When paying with card 15	Convenience, better access to overhead bin space.
Lounge Discount	$100 off Alaska Lounge+ Membership 15	Reduces cost of Lounge+ from $795 to $695 (standard non-elite pricing).
Inflight Purchase Rebate	20% back on Alaska inflight purchases 15	Savings on Wi-Fi, food, drinks.
10% BoA Bonus	On miles earned from card purchases with eligible BoA account 15	Effectively increases earn rates (e.g., 3.3x on Alaska spend).
Annual Fee	$95 (Personal Visa Signature) 16	Must be offset by benefits utilized.