SKYPASS Visa Business Credit Card Review | CreditShout

SKYPASS Visa Business Credit Card Review

By Dan Rafter / January 12, 2011

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Verdict: If you fly frequently on Korean Air, the SKYPASS Visa Business credit card will let you turn your business expenses into free miles on the carrier. Of course, if you rarely fly on the airline, there are plenty of business cards that will better suit your needs.

Overview: Like most miles cards, the SKYPASS Visa Business card allows you to earn airline miles with every dollar that you charge. You’ll earn double miles when you use your card to purchase Korean Air tickets. The card also comes with a host of other perks that make this a strong contender in the business credit card industry. Of course, this holds true only if you frequently fly on Korean Air.

How This Card Works: The SKYPASS Visa Business card, issued by US Bank, is a fairly standard business card. You can redeem your rewards points for free tickets on Korean Air. But there is a drawback: The card does come with a fairly hefty annual fee. And be careful not to pay your bill late: The card also comes with a penalty purchase interest rate of 28.99 percent.

Travel and Shopping Benefits: You’ll earn one free SKYPASS mile for every dollar that you charge with your SKYPASS Visa Business card. You’ll earn two miles for every dollar that you charge when using your card to purchase Korean Air tickets. The card also provides 10,000 bonus miles when you make your first purchase with it. Finally, you’ll receive an additional 2,000 bonus miles every time you renew your card agreement. The perks don’t end here: This card also entitles you to two coupons for free access to Korean Air airport lounges every year. You’ll also receive a $100 discount certificate on a Korean Air online purchase.

Fees: The biggest negative with this card is its $75 annual fee. The purchase interest rate is reasonable, depending upon your credit: It ranges from a low 12.99 percent to a rather high 19.99 percent depending on your creditworthiness. Cash advances cost either $5 or 4 percent of the advance amount, whichever is higher, while late-payment, returned-payment and over-the-limit fees can all reach $39.

Pros:

  • Can quickly earn free miles.
  • Reasonable purchase interest rate depending on your credit score.
  • Plenty of perks.

Cons:

  • Annual fee of $75.
  • Not as useful if you rarely fly Korean Air.
  • Penalty interest rate can soar as high as 28.99 percent.
The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone.

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