The new Ritz-Carlton Rewards credit card was launched on June 9, with the advertising tag line Access to the Extraordinary.
The premium reward card is offered in partnership between JP Morgan Chase & Co and the Ritz-Carlton Hotel Company LLC. The card looks set to be a rival for premium cards such as American Express and MasterCard World.
The Ritz-Carlton Rewards credit card is the first, and indeed the only, credit card to carry the Ritz-Carlton name and the rewards offered are specific to the hotel and its guests. Some of the card holder benefits include complementary hotel services, free upgrades and access to airport lounges.
The Ritz-Carlton is intent on making their reward card one of the most prestigious on the market. They have pledged to offer “world class travel features” in an attempt to compete with American Express, World MasterCard and various other top of the range travel rewards cards.
This is a premium credit card, and it offers a range of generous perks, although they do come at a price. The card carries a substantial annual fee of $395. In exchange, card holders can enjoy no foreign transaction fee, making the card ideal for frequent business travelers.
Reward points can be earned at a rate of 5 points for every $1 spent at the hotel. Additional points can be earned at a rate of 2 per $1 spent on qualifying dining, car rentals and airfares and 1 point per dollar spent on all other purchases. Reward points can then be exchanged for a wide range of rewards which include hotel stays and travel at the Ritz-Carlton and its partner airlines and hotel chains.
Card holders can also enjoy up to three free upgrades to Club Level status during stays at the Ritz-Carlton hotel. In addition to this, there are many other card holder perks including $100 worth of dining and spa services, a free concierge service and access to VIP airport lounges worldwide.
The Ritz-Carlton Rewards credit card comes hot on the heels of the Ritz-Carlton rewards package which was launched last fall. The program offered benefits to customers who accrue points awarded to frequent visitors when they stay at the Ritz-Carlton hotel. These points are earned whether or not the guest holds the Ritz-Carlton Rewards credit card, issued by JP Morgan Chase & Co and can be redeemed at 3,400 hotels and 30 different airlines across the globe.
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