Is the Korean Air SKYPASS Visa Worth Its $450 Annual Fee?

Let's talk about a card that's a bit of a niche player but could be a powerhouse for the right traveler. The U.S. Bank Korean Air SKYPASS Select Visa Signature Card is waving a big welcome bonus, but it comes with a premium price tag. Is it a hidden gem for frequent flyers to Asia, or an expensive souvenir? We'll break down the numbers and the nuances so you can decide if it fits your wallet and your wanderlust.

The Big Bonus and What It's Really Worth

The headline grabber is definitely that 70,000-mile sign-up bonus. It's the highest public offer for this card, but you need to be ready to put $5,000 on it within three months. That's a decent chunk of change, so plan your application around some big upcoming expenses.

Now, what can you do with those miles? They're most valuable when redeemed for flights on Korean Air or its partners, which include SkyTeam airlines like Delta, Air France, and KLM, plus a few others like Alaska Airlines. On average, each mile is valued around 1.7 cents. That means the 70,000-mile bonus could be worth about $1,190 in flight value. Not bad at all.

The Perks That Offset the Sticker Shock

That $450 annual fee hurts, no doubt. But the card throws a few life rafts to help you stay afloat. The most straightforward is the $200 annual travel credit. It automatically reimburses purchases coded as airlines, hotels, or car rentals. This effectively knocks the real annual cost down to $250 right off the bat.

Then there are the Korean Air-specific goodies. You get a $100 discount coupon for a ticket, two $25 coupons for in-flight shopping, and two passes to KAL Lounges each year. If you fly Korean Air even once a year, these can provide tangible savings and comfort. The TSA PreCheck or Global Entry fee credit every four years is a nice standard premium card benefit, and the lack of foreign transaction fees makes it a decent travel companion.

• $200 annual travel credit (airlines, hotels, car rentals)
• Annual $100 Korean Air ticket discount coupon
• Two KAL Lounge access passes per year
• TSA PreCheck/Global Entry application fee credit every 4 years
• No foreign transaction fees

Practical Advice and Things to Watch Out For

This card isn't for everyone. It's a loyalty play. If you don't plan on flying Korean Air or its partners regularly, a huge chunk of its value evaporates. Those lounge passes and discount coupons are useless if you never step on their planes.

Also, pay close attention to the anniversary bonus. To get the full 10,000 miles, you need to spend $35,000 on the card in a year AND pay the annual fee when it's due. That's a very high spending requirement for a card that only earns 1x on most everyday purchases. The 5,000-mile bonus for $15,000 spend is a more attainable alternative for many.

Finally, remember this is a U.S. Bank card. They can be a bit more conservative with approvals and are known for being sensitive to recent credit inquiries and new accounts. Make sure your credit profile is solid and you haven't opened too many cards recently before applying.

Bottom Line

• Best for travelers loyal to Korean Air or SkyTeam, especially those flying to/from Asia.
• The $200 annual credit softens the $450 fee, but you must use it.
• The high anniversary bonus requires very heavy spending ($35k/year).
• Excellent credit is required, and U.S. Bank has strict application rules.

Common Questions