Icelandair Premium Mastercard®
The Icelandair Premium Mastercard® from FNBO earns up to 0.5% effective value on dining in Madeen's catalog snapshot. Its annual fee is $39. New applicants may see: 10,000 Points upon first purchase after account is opened. Madeen compares this card against the cards you already carry — no bank login required.
- Top category
- Dining
- Effective value
- 0.5%
- Annual fee
- $39
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Madeen compares public issuer terms with its card-rule catalog. Issuer pages control rewards, fees, benefits, exclusions, and eligibility; Madeen does not issue cards, make approval decisions, or provide financial advice.
What does the Icelandair Premium Mastercard earn in each category?
Dining is the strongest category at 0.5% effective value (1x miles at about 0.5 cents each). That dining rate ranks higher than about 0% of the 1,547 cards we track in that category. Madeen summarizes catalog reward rules for comparison only; issuer pages control current fees, caps, exclusions, and eligibility.
Dining is the strongest category at 0.5% effective value (1x miles at about 0.5 cents each). That dining rate ranks higher than about 0% of the 1,547 cards we track in that category.
| Category | Earn rate | Effective value |
|---|---|---|
| Dining Restaurants, cafes, takeout | 1x miles | 0.5% Top category |
| Grocery Supermarkets and grocery stores | 1x miles | 0.5% |
| Gas Gas stations and fuel | 1x miles | 0.5% |
| Travel Flights, hotels, transit | 1x miles | 0.5% |
| Other General everyday spend | 1x miles | 0.5% |
Madeen values Icelandair Saga Points at about 0.5 cents each. Madeen compares every card using this cash-equivalent estimate while still showing the raw earn rate for context.
Who should get the Icelandair Premium Mastercard?
The Icelandair Premium Mastercard fits spenders who put meaningful volume in dining and can earn 1x miles. Best for spenders who put meaningful volume in dining and can earn 1x miles. The welcome bonus can help if you can meet the spend requirement.
Icelandair Premium Mastercard fits spenders who put meaningful volume in dining and can earn 1x miles. Madeen ranks its dining effective rate higher than about 0% of the catalog in that category. Compare it against cards you already carry with Madeen — no bank login required.
Best for spenders who put meaningful volume in dining and can earn 1x miles. The welcome bonus can help if you can meet the spend requirement.
Less compelling if the $39 annual fee is hard to offset. Mostly a flat base earn card without strong category bonuses.
Best for dining-heavy spend when the $39 fee fits your usage; confirm issuer terms before applying. Madeen summarizes catalog reward rules for comparison only; issuer pages control current fees, caps, exclusions, and eligibility.
Pros
- Strongest Madeen category is dining at about 0.5% effective (1x miles).
- No foreign transaction fee listed.
- Welcome bonus may add value if you can meet spend requirements.
Cons
- $39 annual fee requires enough spend in bonus categories to offset.
- Icelandair Saga Points value depends on how you redeem, not straight cash back.
Does the Icelandair Premium Mastercard have an annual fee, and what's the welcome bonus?
The Icelandair Premium Mastercard has an annual fee of $39 and a foreign transaction fee of None. New applicants may see: 10,000 Points upon first purchase after account is opened. Confirm current issuer terms before applying. Madeen summarizes catalog reward rules for comparison only; issuer pages control current fees, caps, exclusions, and eligibility.
- Annual fee
- $39
- Foreign transaction fee
- None
- Signup bonus
- 10,000 Points upon first purchase after account is opened
What benefits come with the Icelandair Premium Mastercard?
The Icelandair Premium Mastercard includes Global emergency services, HealthLock, Instacart in our snapshot. Perks and benefits can change; verify coverage on the issuer site before you rely on them. Madeen summarizes catalog reward rules for comparison only; issuer pages control current fees, caps, exclusions, and eligibility.
- Global emergency servicesIncluded with World Elite Mastercard®
Call 1-800-MASTERCARD (1-800-627-8372) for 24/7 assistance to report a lost or stolen card.
- HealthLockIncluded with World Elite Mastercard®
Enroll in HealthLock for Mastercard Medical Claim Monitor complimentary membership plus a 90-day upgrade to all HealthLock services at no monthly cost.
- InstacartIncluded with World Elite Mastercard®
Groceries and more delivered in as fast as one hour. Get $10 off your second order each month, and new Instacart+ members can also get three free months of Instacart+. Offer expires 1/31/2027.
- LyftIncluded with World Elite Mastercard®
More rides means more adventure. Take three rides in a month with Lyft to earn a $5 credit.3* Plus, save 10% on all scheduled rides to or from U.S. airports when you pay with your World Elite or World Legend Mastercard. Offer expires 1/31/2027.
- Mastercard GolfIncluded with World Elite Mastercard®
Get exclusive PGA TOUR® experiences and access amazing golf benefits with our Golf Concierge Service.
- Mastercard ID Theft ProtectionIncluded with World Elite Mastercard®
Monitor your credit file for fraud, get alerts for suspicious activity and access a resolution specialist.
- Mastercard Music and Entertainment Access benefitIncluded with World Elite Mastercard®
Mastercard gives you exclusive access to premium preferred seats and ticket presales at top venues and festivals across the U.S. Eligibility restrictions, exclusions and terms apply. Offer expires 3/31/2027.
- Mastercard Transit BenefitIncluded with World Elite Mastercard®
Save when you tap and go with your eligible Mastercard and receive a $2.50 statement credit when you spend $10 or more each month at participating transit systems.
Common questions about the Icelandair Premium Mastercard
Does the Icelandair Premium Mastercard have an annual fee?
The Icelandair Premium Mastercard carries an annual fee of $39 in Madeen's catalog snapshot. Issuer terms can change, so confirm the current fee on the issuer's site before you apply. Madeen does not predict approval or prequalification. Madeen summarizes catalog reward rules for comparison only; issuer pages control current fees, caps, exclusions, and eligibility.
What category earns the most with the Icelandair Premium Mastercard?
Dining is the strongest Madeen category for the Icelandair Premium Mastercard at about 0.5% effective value, based on our catalog snapshot and standard point valuations. Other categories are listed in the effective-rate table on this page. Madeen summarizes catalog reward rules for comparison only; issuer pages control current fees, caps, exclusions, and eligibility.
Does the Icelandair Premium Mastercard charge foreign transaction fees?
The Icelandair Premium Mastercard does not charge a foreign transaction fee in Madeen's catalog snapshot, which can make it stronger for purchases outside the U.S. Issuer terms still control international acceptance and other fees. Madeen summarizes catalog reward rules for comparison only; issuer pages control current fees, caps, exclusions, and eligibility.
What is the Icelandair Premium Mastercard welcome bonus?
The Icelandair Premium Mastercard welcome offer in our snapshot: 10,000 Points upon first purchase after account is opened. Minimum spend, eligibility, and offer windows are set by the issuer and can change. Madeen summarizes catalog reward rules for comparison only; issuer pages control current fees, caps, exclusions, and eligibility.
Is the Icelandair Premium Mastercard annual fee worth it?
Whether the $39 annual fee pays off depends on how much you spend in dining and whether you use the card's benefits. Madeen compares effective rates across the cards you already carry without bank login. Madeen summarizes catalog reward rules for comparison only; issuer pages control current fees, caps, exclusions, and eligibility.
What credit score do you need for the Icelandair Premium Mastercard?
Madeen's catalog lists a typical credit range of Good to Excellent for the Icelandair Premium Mastercard. Issuers decide approval using their own criteria; Madeen does not predict approval odds or prequalification. Madeen summarizes catalog reward rules for comparison only; issuer pages control current fees, caps, exclusions, and eligibility.
How does the Icelandair Premium Mastercard compare to similar cards?
Compare the Icelandair Premium Mastercard against Amtrak Guest Rewards Mastercard (5% on Dining, $0 fee); Amtrak Guest Rewards Preferred Mastercard (5% on Dining, $99 fee); Best Western Rewards Mastercard (4.6% on Dining, $0 fee). Madeen ranks effective value by category and annual fee using the same catalog snapshot dated 2026-05-01.
| Card | Top category | Effective value | Annual fee |
|---|---|---|---|
Icelandair Premium Mastercard This card | Dining | 0.5% | $39 |
| Dining | 5% | $0 | |
| Dining | 5% | $99 | |
| Dining | 4.6% | $0 | |
| Dining | 4.6% | $0 |
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