UBS's New Credit Card For Ultra-High Net Worth Clients Goes Live

Tom Burroughes

30 May 2017

UBS's new credit card for ultra-wealthy clients in the US has gone live, a sign of how the Zurich-listed group is seeking to take the competitive fight in this space to rivals such as Citigroup, US Bancorp and JP Morgan.

The Swiss bank has rolled out the UBS Visa Infinite® credit card, a metal credit card that carries premium rewards, travel benefits and credits and savings when users fly, stay, cruise or drive. Use of the card gives concierge-style advice to clients on their financial needs, such as daily cash management to long-term investment planning.

Credit card clients will have 24/7 access to a US-based Concierge and Client Services Group, as well as financial advisors. The card features a 3-2-1 earning structure – three points per dollar spent for commercial air travel, two points per dollar spent for gas and groceries, and one point per dollar spent for all other eligible purchases. There is access to a travel-focused concierge services, special amenities and services at hotels and properties. Users can fly on any commercial airline for fewer points than most other rewards programs and with no blackout dates, booking fees, or point expiration. New UBS Visa Infinite credit card clients can earn up to 50,000 bonus points by spending $3,000 within the first three months of approval, UBS said.