LATIN AMERICA’S BEST CREDIT CARDS FOR TRAVEL

With the economic recovery in most of the region, the tourism sector, and specifically business travel, has benefited in Latin America's major destinations.

This niche reached a value of $43.7 billion in 2022 in the region, according to IMARC Group, a consulting and market research firm.

As this is a sector of sophisticated users (given that the level of banking penetration and, consequently, card usage is generally low in Latin America), it is very likely that the vast majority of business travelers have either a personal or corporate card on which they accrue benefits such as miles or points.

How we chose the cards:

While conditions differ in major Latin American markets, Bloomberg Línea consulted with corporate travel experts and consultants, who suggested several points to consider when taking out a bank card with the intention of using it for its benefits:

Reasonable fees for the services and benefits they offer
Issuers offer ongoing benefits or campaigns rather than one-offs
Whether the card is accepted by various airlines or travel service providers (hotels, VIP lounges, etc.)
What they offer matches or improves on offers found on suppliers' websites
Whether they offer compensation for services paid for but not received

Thus, Bloomberg Línea presents its list of the best bank cards for travel in Latin America, focusing on Argentina, Brazil, Chile, Mexico, Peru ,and those that take into account the entire continent.

BBVA

Visa/Mastercard Premium

Miles or programs: BBVA Points is a program with exclusive benefits for local and international experiences and tourism. BBVA customers can accumulate points with their BBVA Visa and Mastercard credit card purchases, and redeem them for accommodation, experiences, airline tickets, car rentals, and through the exclusive tourism platform “Powered by Despegar”.

Consumption with BBVA credit cards adds one point for each dollar or its equivalent in pesos, both for the cardholder and an additional person, as well as for automatic debits. In addition, Premium customers receive an extra 5% accumulation and Premium World customers an extra 15% accumulation.

Costs:

Pay attention to: In some cases, above all in South America, businesses claim to accept payment in Argentine pesos, but at the time of conversion they often include commissions that raise the exchange rate.

Banco Nación

Aerolíneas Plus

Banco Nación offers the Aerolíneas Argentinas Mileage Program, called Aerolíneas Plus, a frequent flyer program that accrues miles for purchases made with Mastercard International, Gold, Platinum, Black and Visa International, Gold, Platinum and Signature credit cards issued by the bank.

For purchases with a credit card linked to the program (Visa, Mastercard) $1 = 1 air mile.

Costs:

Pay attention to: Air miles accumulated are valid for three years. If the user does not make a transaction such as issuing an award or redeeming miles to fly on any of the airlines in the program, the amount will be zero.

Itaú

Iupp

“Iupp” is the points, benefits, discounts and shopping program for Itaú customers focused on benefits, points programs and e-commerce.

Smiles Argentina, the miles program, announced its partnership with Banco Itaú, where, through Iupp, the bank's customers will be able to redeem their points for Smiles miles to travel to over 1,200 destinations around the world, with more than 50 airlines.

Smiles is a loyalty program that has been operating for more than 25 years and has 16 million participants, with airline GOL as its majority shareholder and main commercial partner.

Costs:

Pay attention to: The issuer offers to waive the usage fee for the first 12 months. But after that, conditions must be met, such as minimum monthly consumption or deposit movements (100,000 pesos Black; 85,000 pesos Platinum), or being an investment client. Otherwise, the bank will charge a maintenance fee for the account and the renewal of the respective card.

HSBC

Puntos Rewards program

All cards issued by HSBC participate in the Puntos Rewards program that allows you to accumulate points through consumption.

As an HSBC Premier or HSBC Premier Black member, membership is automatic and free of charge.

The program awards from 1 to 3.5 points for every $100 spent, depending on the category. With the points, customers can access prizes and trips.

Cost:

Pay attention to: The rewards points system offers many differences between card levels, from 100 pesos equivalent to one point, to 3.5 points, so the customer's choice should take that into account.

BTG

Black Mastercad

With BTG Pactual's Black IOF Special card, users receive 4.28% cashback on international purchases at the same cost of the IOF tax, charged by the Brazilian government on financial transactions, as cash transactions.

BTG offers the card for three months at no cost. This card has a monthly fee of 50 reais. For every 10,000 reais invested in BTG Pactual or 1,000 reais spent per month on a credit card, the user gets a 10 reais discount on the monthly fee.

BTG Black cards also offer VIP Lounge Key lounges with four free airport lounge accesses and up to 1% of the value of credit card purchases returned as cashback directly on the bill. The cards also offer a points program, where 2.2 points are accrued for every dollar spent to redeem for miles, services or benefits.

Cost:

Pay attention to: To receive the card with zero annuity, the user must have at least R$30,000 (US$6,000) invested or a monthly income greater than 15,000 reais ($3,000).

XP

XPVisa Infinite

The XP Visa Infinite cards offer access to Dragon Pass lounges at airports; Visa Infinite benefits and at Iguatemi Shopping Centers; up to 1% Investback on all purchases, provided in a fixed income fund with daily settlement; 2% in Investback at partner merchants by purchasing within the XP app through the Benefit Central; six free additional cards for family or friends; exclusive XP card service via WhatsApp or within the XP Visa Infinite Privilege app; Visa Infinite benefits such as insurance, concierge and extended warranty; proximity payment and use of Apple Pay, Samsung or Google Pay digital wallets.

Cost:

Pay attention to: The XP Visa Infinite One XP card is available to those who have more than R$5,000 invested in XP. For this card, the limit is preset and defined according to the credit analysis and spending profile.

The Visa Infinite Card is available for those who have at least 50,000 reais in XP. It offers a dynamic limit, according to the amount invested in XP.

Itaú

Personnalité The One

Loyalty program: accumulation of three points per US dollar spent on domestic purchases and 3.5 points on international purchases, with no expiration date. One offers unlimited access to LoungeKey VIP lounges, discounts on hotel reservations and airline tickets when paying with points through the Itaú Personnalité app.

The card also offers “The Assistant,” an exclusive personal service to provide a unique experience, including detailed and personalized travel itineraries, access to starred restaurants and ticket purchases for major events around the world. The card gives access to discounts on the purchase of luxury items from brands such as Jimmy Choo, Chloe and Stella McCartney.

On the culinary side, the card includes menu upgrades, services or exclusive experiences at renowned restaurants such as Emiliano (SP), Lasai (Rio), Per Se (New York) and L'Agapé (Paris).

The card also offers access to privileged tables and priority reservations at national and international restaurants and discounts of up to $1,000 for travel on private jets and certified executive helicopters.

Cost:

Pay attention to: Subject to credit history analysis.

C6

C6 Carbon Mastercard Black

With this card, the customer accumulates 2.5 C6 Atomos points, the loyalty program of C6 Bank, which does not expire for an amount equivalent to $1 spent on the credit function, and grants unlimited access to the Mastercard Lounge Key at Guarulhos airport.

It also grants up to four free accesses per year to Lounge Key lounges at airports around the world; you can request up to six additional free cards.

The card also guarantees exemption from the opening fee of the C6 Global Account in dollars and euros; in addition to all the advantages of Mastercard's black category, such as international medical assistance, rental car insurance, corkage waiver in selected restaurants, exclusive experiences in the world's largest cities (Priceless Cities), concierge service and travel assistant.

Cost:

Pay attention to: Clients spending more than 4,000 reais per month on the credit card will be exempt from 50% of the annual fee during that month.

Santander

Unlimited (Visa y Mastercard)

Among the benefits offered by this card are Sphere Points with no expiration date. For every dollar spent, it offers 2.6 points on domestic purchases and three points on international purchases. The card gives free access to VIP lounges and can carry up to eight guests per year. At some airports it offers an express-line pass for screening. With the Mastercard version, the card provides unlimited access to LoungeKey and the brand's VIP lounges. Both brands offer travel insurance and Concierge.

Costs:

Pay attention to: The commission or renewal fee for these cards is generally waived, but the customer must have a minimum monthly average expenditure of 20,000 reais ($4,000).

AAdvantage Mastercard

This is a classic miles card, but with added value. The card offers two miles for every $1 spent, or three miles for international purchases and doubles if the purchase is on American Airlines. In fact, it is the only card in Brazil that earns miles in this way. Each mile accrued through purchases with the card is converted into loyalty points that provide status and benefits such as: free baggage, priority check-in and boarding, free upgrades and additional mileage accrual on flights. The miles have great appeal as, for example: 7,500 miles are redeemable on any domestic route; 10,000 miles on routes in South America; and from 30,000 miles, on a route to North America. And if the card is still in use, the miles do not expire.

Cost:

Pay attention to: You need to be a client with a current account at Santander with a minimum monthly income of 12,500 reais ($2,550) or 20,000 reais ($4,050) without an account

Banco Inter

Inter Black card

This card is for eligible Inter users. For example, for Inter Black segment customers with investments starting at 250,000 reais ($50,000), or investors in the bank with at least 2 million reais ($400,000) in their portfolio, among other levels (customers with real estate financing or participants of the Duo Gourmet annual plan).

Among the advantages of this card is that it has a zero annuity, returns 1% cash on purchases, gives access to more than 1,000 VIP lounges around the world and various benefits under the Mastercard brand, such as Travel Rewards, Priceless Cities, travel insurance, travel medical insurance, etc.

Cost:

Pay attention to: To qualify for zero commission, customers must make a minimum monthly purchase.

Bradesco

Bradesco Visa Aeternum

Bradesco is the only bank in the market that offers access to its own Bradesco VIP Lounge at the main airports in Brazil. The client is entitled to one companion and minors up to 16 years of age. It also offers access to The Centurion Lounge at major airports in Argentina, the United States, Australia, Mexico and India. In addition, customers have access to the Delta Sky Club and Airspace Lounge lounges at airports around the world.

The Aeternum Visa card is, in a sense, timeless as it has a loyalty program ($1 = 4 points) which never expires. Users have travel assistance and exclusive benefits in the Visa Luxury Hotel Collection program, which includes luxury properties around the world. This card also offers subscriptions to streaming platforms (such as Disney+), as well as 50% off at Cinemark movie theaters.

Cost:

Bancolombia

The cards of this financial institution provide access to VIP lounges in several airports around the world, car rentals, and special rates in restaurants and hotels. They also provide rental car insurance, and for travel delays, as well as extended warranty and purchase and price protection. In the case of the Lifemiles Visa, it gives a welcome bonus of 7,500 LifeMiles for invoicing 7,500,000 pesos ($1,700) during the first six months; 10,000 LifeMiles Credits for tickets, upgrades to business class and access to Avianca's VIP lounges for invoices of 24 million pesos ($5,400) every 12 months; miles per dollar, etc.

Costs:

Pay attention to: Note that there are terms about the expiration of the miles you have accumulated with the credit card. In some cases, they can expire from 24 to 36 months of inactivity in the account, so a purchase must be made on the credit card to validate their extension.

Depending on the product, applicants must have an income from 1 million pesos ($220) or even higher than 10 million pesos ($2,204) to qualify for the card.

Banco de Bogotá

In this bank, the cards give miles for domestic and international purchases. To cite an example, in the case of the LATAM Pass VISA Signature TC, it gives two miles for domestic purchases per dollar billed and 2.25 miles for international purchases per dollar billed. Some product benefits include unlimited tickets to the Latam Visa International VIP Lounge and annual tickets to VIP lounges internationally. In addition, annual discounts on tickets, an additional 23k suitcase on all flights and preferential check-in on domestic and international flights.

Costs:

Pay attention to: Note that there are terms about the expiration of the miles you have accumulated with the credit card. In some cases they can expire from 24 to 36 months of inactivity in the account, so you must make a purchase on the credit card to validate the extension of the same.

This entity requires the applicant to be of legal age, with no defaults, no penalties, no liens, and not being on any restrictive credit lists.

Davivienda

On the Classic card, there are welcome miles subject to billing challenge (bimonthly 2,000 miles for a $400 billing) and also for purchases (0.75 miles for each dollar). The Signature card awards 10,000 miles for a $2,000 billing and miles for purchases (1.4 miles per dollar). The latter grants four VIP lounge admissions per year, as well as lost and delayed baggage insurance, and international medical emergency service for the cardholder, among others.

Costs:

Pay attention to: Please note that there are terms about the expiration of the miles you have accumulated with the credit card. In some cases, they can expire from 24 to 36 months of inactivity in the account, so a purchase must be made on the credit card to validate the extension of the same.

BBVA

On the Visa Infinite card, users can earn up to 15,000 points (2,000 for the first purchase and 13,000 per billing goal), and on the Mastercard Black card they earn two points for every dollar of purchases. The Infinite offers 10 free airport VIP area admissions during the first year. The Mastercard Black gives access to more than 1,000 VIP lounges in airports around the world. Depending on the type of product, there is coverage and insurance for purchases and travel, as well as a personal travel assistant and benefits in hotels and resorts around the world.

Costs:

Pay attention to: Please note that there are terms about the expiration of the miles you have accumulated with the credit card. In some cases they can expire from 24 to 36 months of inactivity in the account, so you must make a purchase on the credit card to validate the extension of the same.

In order to apply for any product, a linkage request is required as a natural person, a photocopy of the document expanded to 150%, a photocopy of the income tax return, contracts, certificates, or documents proving other income and bank statements for the last three months.

Banco de Occidente

At this bank, depending on whether the purchase is domestic or international, customers can obtain a differential accrual rate of up to 2.25 miles for every dollar spent. All cards have unlimited free access for the cardholder to LATAM's VIP lounge in Bogota at the international pier. The Signature card offers unlimited free admission and up to five companions per VIP lounge entrance that are part of the Priority Pass program. In terms of miles, the classic credit card offers a welcome bonus of up to 10,000 miles for reaching the card's consumption goal. There is also an annual discount of up to 30% on ticket purchases and a Priority Check-in line for domestic and international flights.

Costs:

Pay attention to: There are terms about the expiration of the miles you have accumulated with the credit card. In some cases they can expire from 24 to 36 months of inactivity in the account, so you must make a purchase on the credit card to validate the extension of the same.

Banco Popular

Visa Gold ConnectMiles and Visa Signature ConnectMiles credit cards provide access to all lounges operated by Dragon Pass. Through the Visa Airport Companion app, it offers easy access to more than 1,200 lounges globally. Also, 10% discount on travel redemption and mileage purchases; international medical assistance; free baggage check-in when purchasing up to 2 bags of 70kg depending on the category and preferential baggage handling; preferential access to security control at airports where available; the possibility of upgrades to business class for cardholder and companions.

Costs:

In the case of ConnectMiles Gold Visa credit cards, a salary as an employee, pensioner, or independent with income support must be proven.

Banco Falabella

CMR Mastercard Elite

Users can pay for all purchases abroad at the dollar value of the day; offers trip cancellation insurance and baggage delay and loss insurance. The user has free transfers from each airport to the airport and vice versa and access to LoungeKey lounges worldwide at preferential rates. In terms of rewards, this card offers 1 CMR point for every 150 pesos ($0.20) spent.

Cost:

Pay attention to: CMR points are valid for two years. The annual commission can be waived with annual expenditure on the card equivalent to 50,000 CMR points.

Santander

WorldMember Limited Santander LATAM Pass Mastercard

A credit card for those who prefer to accumulate miles rather than benefits. As a basic feature, it offers one Latam Pass Mile for every dollar spent in Chile or abroad. There is a monthly cap, which is US$30,000, or 30,000 miles that increases with up to 33% of additional miles on flights operated by LATAM. In terms of insurance, it offers MasterAssistBlack Travel Medical Insurance, with coverage of up to $150,000, and in Europe, Schengen Insurance with coverage of up to 30,000 euros. The bearer has access, for $32, to VIP LoungeKey in airport lounges around the world.

Cost:

Pay attention to: Customers must have a minimum monthly income of 2.5 million pesos ($3,100), and be over the age of 21.

Citibanamex

Thank You Premier

The Thank You Premier card may not be the top-of-the-line card, but it is one of the cards that offers the best benefits to the user. To begin with, it is a card that does not provide miles as such. However, it has a series of benefits that attract attention, such as a 2-for-1 discount on airline tickets or a US$400 discount for the first three months of use or on each anniversary. In addition, it offers access to Beyond VIP lounges, a 20% discount on Mastercard's Dining Program, as well as the availability of Mastercard Concierge 24/7.

The icing on the cake is 1.15 Thank You points for every $1 spent with the card.

The membership also provides travel insurance and baggage protection for up to $1,200 in reimbursement.

Cost:

Pay attention to: To obtain the card, a minimum monthly income of 30,000 pesos ($1,650) is required. As there is a lot of volatility in rates and exchange rates, pay attention to the total annual cost and the weighted interest rate.

American Express

The Platinum Card

Probably one of the most expensive service cards in the market, but it is also one of the most beneficial for its users, especially if they use it frequently.

Although it is not a traditional card for earning miles, the rewards it offers are attractive for a user who travels often or whenever needed. Some benefits are bonuses in services contracted online with American Express, annual bonuses in restaurants in Mexico (4,000 pesos or $222) and abroad (for the same amount); 2x1 in airline tickets when accumulating minimum expenses to Mexico ($10,000), USA or Canada ($30,000 and Europe ($40,000).

The card also provides access to The Centurion Lounge VIP lounges and exclusive fares in the best classes on international flights.

Cost:

Pay attention to: Requires a monthly income of 100,000 pesos ($5,600). This is a service card, so be careful with the closing and payment dates, as it requires 100% coverage of the month's expenses.

Scotiabank

Scotiabank Visa Signature

Another card that is not attractive for giving away miles, but for the benefits it provides to its users who travel. Among these, the card offers 100% reimbursement of the Global Entry program fee, which facilitates entry into the United States, either through the airports that have the service or through the dedicated express lines at the border. It also offers 2-for-1 on domestic or U.S. travel and savings of up to $450 on tickets to Europe. With this card, the user can make use of the network of 1,200 LoungeKey lounges worldwide, with a bonus: access for the cardholder and two companions. The card also has a Meet & Greet service at Mexico City International Airport, as well as transportation from home.

Cost:

Pay attention to: Customers must be a client of Banca Premium to apply for the card

Santander

Aeroméxico Infinite

While Santander has discontinued its popular Delta Platinum card (which incorporated the SkyMiles rewards program) for now, the issuer offers its Aeromexico Infinite card, a classic points card exchangeable for miles and tickets. Among other benefits, Aeromexico Infinite offers a welcome bonus of 32,000 Aeromexico Rewards Points when spending $1,000 within three months of activation. The card offers an annual bonus, free transportation to the CDMX airport, access to VIP lounges, gift certificates on tickets, and 2 points for every $1 spent (3 points if spent directly with Aeromexico).

Costos:

Pay attention to: Only customers with a minimum monthly income of 70,000 pesos ($3,900) can apply.

HSBC

Premier World Elite

This card offers 1.5 Premier Rewards points for every dollar spent, access to the bank's VIP lounges and Mastercard's Elite Lounge, as well as the LoungeKey network.

For Expedia purchases, the user has 10% discounts and can use Boingo WiFi on flights where available.

Cost:

Pay attention to: Customers must have a minimum monthly income of 60,000 pesos ($3.350) and no negative credit history.

BAC Credomatic

AAdvantage Black Mastercard

A traditional air-miles card. The user receives 20,000 welcome miles that can be redeemed when making purchases of $2,000 or more. The card is capped at 150,000 miles per year and which can be redeemed at over 1,000 destinations, whether covered by American Airlines or its partners. Like others in its range, this card offers access to LoungeKey airport lounges for the cardholder and additional cardholders.

Cost:

Pay attention to: To receive air miles, the user must make a first payment for an established amount in the first three months of owning the card.

Banistmo

Visa LifeMiles Infinite

Offers 20,000 welcome miles with a consumption of $2,000 or more in the first three months of activation. In addition, it gives three miles per dollar when buying tickets on Star Alliance airlines and two miles per dollar spent on international purchases.

Purchases with this card can earn an annual bonus of 15,000 LifeMiles Credits with purchases of $18,000 in a year. Can be used on Star Alliance airlines or Iberia, GOL and Aeromexico.

Cost:

Pay attention to: Upon requesting the card, the bank will require credit references, proof of employment or proof of income.

BCP

American Express LATAM Pass Black

The benefits of this card start immediately with a bonus of 5,000 LATAM miles if a purchase goal is met in the first 45 days. By using it, you can earn 1.5 miles for each dollar of consumption or 1.5 miles for each dollar spent on tuition payments. In Lima, with this card, the user has fast-track service in security and migration lines, as well as access to the LAP VIP lounge. It offers Priority Pass benefits with free access to 1,300 VIP lounges in airports around the world.

Costs:

Pay attention to: Expenditures in US dollars are charged at the exchange rate at the time of invoicing, not on the day of purchase.

Scotianbank

AAdvantage Visa Infinite

A welcome bonus of 15,000 miles in the American Airlines AAdvantage program (with a usage goal of PEN$5,000 (US$1,350) in the first three months of activation) is awarded upon contract initiation. Six months’ usage in the last 12 billing cycles provides access to LoungeKey lounges worldwide. Purchases with this card earn 1 AAdvantage mile for each dollar of consumption (or its equivalent in soles) and 2 AAdvantage miles for each dollar of consumption (or its equivalent in soles) in airline tickets, travel agencies, in-person consumption in foreign countries and American Airlines.

Cost:

Pay attention to: The bank will research your credit history and requires a minimum credit of $9,000 and a minimum monthly income of 12,000 soles ($3,200).