Do you frequently travel on Spirit Airlines? If so, there’s a new credit card that may be worth adding to your wallet before your next flight.
In February 2021, Bank of America announced that it is offering a Spirit-branded credit card known as the Free Spirit® Travel More World Elite Mastercard®.
Team Clark has a quick rundown of all the things you need to know before you consider applying for this travel credit card:
1. The Points Structure for This Card Rewards More Than Flights
Obviously, you’re going to expect that Spirit Airlines purchases are rewarded on the highest tier with this branded card. And they are.
But there’s a little more to it than just air travel purchases.
You also get bonus points for purchases you make on dining and groceries.
Here’s the rewards point breakdown:
- 3 points per $1 spent on eligible Spirit purchases
- 2 points per $1 spent on eligible dining and grocery store purchases
- 1 point per $1 spent on all other purchases
The fine print says there are no limit to the points you can earn, and your points won’t expire as long as your credit card account is open.
2. There’s an Annual Fee, But You Get a Temporary Reprieve
I was hoping this new travel card would differentiate itself in the segment as a rare no annual fee option, but alas, there is one.
Bank of America will charge you $79 per year for the privilege to carry this card. That’s in line with the cost of some other popular airline-branded credit cards such as Chase’s Southwest Airlines card offerings.
The good news is that you will get a temporary reprieve from this fee. Bank of America is advertising that it will waive the annual fee for the first year of card membership.
3. The Welcome Bonus Is Easy to Achieve
While there is no 0% APR offer on new purchases or balance transfers, this card does offer a layup of a welcome bonus.
You’ll earn 40,000 bonus points plus a $100 companion voucher if you spend at least $1,000 within the first 90 days of card membership. (You can clear that hurdle with as little as $334 in spending per month.)
4. You Can Earn an Anniversary Bonus Each Year
If you’re into that $100 companion voucher that’s part of the welcome bonus, then you’re in luck.
Bank of America is going to offer a chance to earn that same $100 companion voucher each year on your cardholder annivesary.
The catch? You have to make at least $5,000 in purchases during that spending year.
As long as you’re averaging at least $417 per month in spending, you should be on track to earn it.
5. Cardholders Get Special Perks When They Fly on Spirit
Your rewards for being a branded cardholder go beyond the 3x points multiplier.
You’ll get some additional perks for being a Free Spirit cardholder on a Spirit Airlines flight:
- Boarding Upgrade: If you pay for your airfare with this card, you get an automatic upgrade to Zone 2 boarding status.
- In-Flight Discounts: Cardholders receive 25% off in-flight purchases on things like food and beverage services. You’ll need to use the card for the purchase in order to qualify.
6. This Card Has No Foreign Transaction Fees
As you’d hope with a travel card, this one has no foreign transaction fees.
That’s one of the only fee reprieves you’ll get, though. This card carries a 3% fee on balance transfer and cash advances as well as a $40 fee for late payment.
Like any branded credit card, the top question to ask yourself before applying is: How much money do I actually spend with this brand?
If you travel Spirit Airlines often and consistently choose it over other airlines, there may be a case for adding this card to your wallet.
If you’re the type of traveler who likes to shop around for the best deal, you may be better served by a generic travel rewards card such as the Discover it Miles or Capital One Venture Card.
And if you’re looking for more advice on picking a travel credit card, check out our review of the best travel credit cards on the market.