Icelandair Credit Card Review

Icelandair Credit Card:

Icelandair, the country’s flag carrier, collaborates with First National Bank of Omaha (FNBO) to issue two co-branded credit cards under the Mastercard brand. Both the Icelandair Mastercard and the Icelandair Saga Club Silver Mastercard provide advantages and disadvantages specific to frequent travellers and fans of Iceland. Let’s examine each card in more detail to discover if it can really elevate your vacation experience.Icelandair Mastercard® Credit Card Review |


With a $0 yearly cost, this straightforward option earns 1 point for every $1 spent on Icelandair purchases and 0.5 points for every $1 spent elsewhere. After making your first purchase, you’ll also receive 5,000 points as a welcome gift. Regretfully, it is less effective than the Saga Club Silver due to the 2:1 point conversion rate to Icelandair Saga Points.


  • Absence of an annual charge: It is a big plus, particularly if you don’t take many trips or spend a lot of money on Icelandair product.
  • Bonus welcome: After making your first purchase, get 5,000 points to get started on your rewards adventure.
  • Absence of foreign transaction fees: By doing this, you can use your card overseas and save money.
  • Benefits of Mastercard: access to extended warranties, purchase protection, and international support services all benefits offered by Mastercard.
  • Points for flights on Icelandair: For every $1 spent on Icelandair, you will receive 1 point that may be redeemed for additional flights or other products.


Reduced point earning rate: You receive less points for both Icelandair and non-Icelandair transactions while using this card than when using the Icelandair Saga Club Silver Mastercard.

Points conversion rate: Compared to the Silver card, points convert to Saga Points at a 2:1 ratio, which means you need twice as many points to get some benefits.

Limited opportunity for rewards: It is less suited for frequent travellers or those looking for substantial travel benefits due to its basic features and lower point earning rate.

Absence of priority boarding and lounge access: This card lacks benefits that frequent travellers may find useful, such as priority boarding and airport lounge access, which are included with the silver card.

Icelandair Saga Club Silver Mastercard:

 Although it has an annual cost of $39, this premium card has more generous benefits. Earnings: 2 points for every $1 spent on Icelandair purchases, and 1 point for every $1 spent on other purchases. In addition, you receive a 10,000-point welcome bonus and a 1:1 point conversion rate to Saga Points, which facilitates the unlocking of flying incentives.

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Increased point earning: As opposed to the original card’s 1x and 0.5x rates, earn 2x points on Icelandair purchases and 1x points on all other purchases. This means that Saga Points will accumulate for flight rewards more quickly.

Increased effectiveness in converting points: Unlike the base card, which has a 2:1 ratio, points convert to Saga Points at a 1:1 ratio. This implies that fewer points are required to meet flight redemption requirements.

Bonus welcome: After making your first purchase, receive 10,000 bonus points, which will give you a head start on earning prizes.

Travel benefits: Upgrade your journey with priority boarding, free checked baggage, access to airport lounges with Saga Points, and in-flight savings.

Benefits of Mastercard: Get access to Mastercard perks like travel insurance, extended warranties, and purchase protection.


Annual fee: There is an annual fee of $39, which for infrequent travellers may be more advantageous than the perks.

Restricted Mastercard benefits: The Mastercard perks may not be as extensive as those of certain high-end travel cards.

Icelandair-focused: The majority of perks and awards are exclusive to Icelandair, making competing airlines’ travel offers less valuable.

Foreign transaction fees: You will pay 1% for non-Icelandair transactions made outside of your home country, but there are no fees for purchases made on Icelandair.

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What Kind of Card Is Best for You?

The best Icelandair credit card for you will depend on how you spend and travel. The Icelandair Mastercard is a good choice if you occasionally travel with Icelandair and are looking for a credit card without an annual fee. Nevertheless, even with the yearly charge, the Icelandair Saga Club Silver Mastercard is a far better deal if you frequently travel on Icelandair and want to get the most out of your points.