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U.S. Bancorp this week became the latest credit card issuer to add an elite-level perk as a core feature on its newest cobranded airline card to lure customers during tough economic times. The new U.S. Bank Aeromexico Visa credit card enables cardholders to earn one Club Premier mile per dollar spent, redeemable toward travel rewards, plus one complimentary companion ticket from the U.S. to Mexico per year and free access to Aeromexico's Salon Premier lounges in major airports. Access to private airline lounges is a perk generally available only to elite-status fliers or premium-level cardholders, Megan Bramlette, managing associate for Auriemma Consulting Group, tells CardLine. Besides waiving baggage-handling fees and offering priority boarding and seating, giving free access to airport lounges is part of growing trend cobranded card partners are hoping will reel in new customers during downturns in the economy and in travel, she says. "This is one way airlines can offer cardholders 'elite-light' perks that don't cost a whole lot," she says. "We may see more issuers migrating toward this strategy." U.S. Bank's Aeromexico card carries a $45 annual fee ($80 for Visa Signature version). Bramlette warns of one downside to the strategy–cheapening the value of elite-level benefits to airlines' best customers. "But our research shows there is considerable demand among most cardholders for these softer-side perks, and airlines seem to be willing to sacrifice some exclusivity to lure more customers during tougher times," she says.
