UBS Launches Luxury Credit Card

NEW YORK--(BUSINESS WIRE)--UBS today announced that it will launch the UBS Visa Infinite® credit card on May 27, a sleek, new metal credit card designed to meet the luxury lifestyle needs of high and ultra-high-net-worth clients. The card provides an array of premium rewards, travel benefits and credits, including exclusive savings when users fly, stay, cruise or drive, and a rich earnings structure with rewards points that never expire while the card is open. By using the card, clients also have the benefit of concierge-style advice on all of their financial needs – from day-to-day cash management to long-term investment planning – working directly with their UBS Financial Advisor.

"Our clients place an immense value on high-end and high-value services, which are integral to the UBS wealth management experience," said John Mathews, Head of Private Wealth Management and Ultra High Net Worth, UBS Wealth Management Americas. "By putting the UBS Visa Infinite credit card in our clients' hands, we can have a more meaningful impact on our clients' everyday lives and experiences by serving more than their traditional wealth management needs."

Unparalleled client focus is a core UBS principle and translates into a bespoke, best-in-class experience for UBS credit card clients. UBS Visa Infinite credit card clients will have 24/7 access to a U.S.-based Concierge and Client Services Group, as well as Financial Advisors who are able to ensure a smooth card relationship by setting up automatic payments and enrolling clients in fraud, activity, and travel alerts. By having a UBS credit card, the client, together with their Advisor, can make more informed decisions when planning their financial future when both assets and liabilities are in one place.

"The advisor's ability to service and advocate for their clients is just one thing that makes the UBS Visa Infinite credit card exceptional," said Fred Jubitz, Head of UBS Cards.

“Visa has a long and successful history working with UBS to deliver world-class rewards credit card products serving UBS’s high-net-worth clients,” said TS Anil, Senior Vice President of Global Products at Visa. “The UBS Visa Infinite credit card goes beyond rewards to deliver the total customer experience, including comprehensive protection benefits and access to premium travel and lifestyle benefits.”

UBS Visa Infinite credit card clients enjoy a wide array of exclusive travel benefits, credits and a rewards program with flexible redemption options, which result in a total combined value that may exceed $4,000 per year. The card features a rich 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.¹

Clients also gain access to a travel-focused concierge service, special amenities, and perks at some of the world's most prestigious 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.² New UBS Visa Infinite credit card clients can earn up to 50,000 bonus points by spending $3,000 within the first 3 months of approval.³

The UBS Visa Infinite credit card replaces the current UBS Preferred Visa Signature® credit card with no change in the $495 annual card fee.* Existing UBS Preferred Visa Signature credit card clients will automatically receive the UBS Visa Infinite credit card. A sampling of the credit card's benefits and rewards include:

Exceptional travel benefits—clients have access to a wide array of privileges and savings.

• At the airport:
  • $500 Any Airport Club statement credit for any airport lounges worldwide upon reaching qualified spending threshold⁴
  • Unlimited, complimentary access to 1,000+ Priority Pass^TM Select lounges⁵
  • $100 Global Entry application fee statement credit, which includes TSA Pre✓®
• In the air:
  • $250 airline fee credit⁷
  • 12 complimentary Gogo in-flight Wi-Fi sessions⁸
• On the road:
  • Primary insurance coverage on car rentals
  • Special perks and discounts at Silvercar, National Car Rental and Avis^®9
• At the hotel:
  • Premium set of benefits with the Visa Infinite Luxury Hotel Collection¹⁰, VIP amenities at select Ritz-Carlton, Fairmont Hotel and Resorts and Park Hyatt properties and enhanced benefits with Relais & Châteaux.¹¹
• Other travel benefits:
  • No foreign purchase transaction fees*
  • Trip cancellation and trip interruption insurance, paid emergency medical evacuation and transportation coverage, travel accident insurance, baggage delay coverage trip delay reimbursement, lost luggage reimbursement and roadside assistance.¹²

Exclusive rewards—UBS Visa Infinite credit card clients earn 3x points on commercial air travel, 2x points on gas and groceries and 1 point on all other eligible purchases.¹

• Flexible redemption options, including travel, gift cards, merchandise, and charity.
• One $900 airline ticket for 50,000 points, with no booking fees (savings of 40,000 points compared to other rewards cards)¹³
• Personal Choice statement credit: redeem 10,000 points for $100 in statement credit¹⁴
• 50,000 bonus points upon $3,000 in spend in the first 3 months for new clients³

Easy cash management— And, since the UBS credit card can connect to clients' cash management accounts at UBS, they are able to get cash at banks and ATMs worldwide without the usual finance charges or cash advance fees, provided the client has available cash in their UBS account.¹⁵ UBS has offered clients a simpler way to manage their cash and credit by eliminating the need to carry a separate debit card. Additionally, UBS clients can also enjoy unlimited ATM fee rebates in the U.S., up to $10 per transaction.¹⁶

Enhanced Client Service—Our 24/7 U.S.-based UBS Concierge is like a personal assistant that can help clients with anything from making dinner reservations and gift suggestions to planning complex travel arrangements near home or far away.¹⁷ Moreover, being that it is a UBS card, clients can always rely on their Advisor to service and advocate on their behalf.

Notes to editors

About UBS Wealth Management Americas

Wealth Management Americas is one of the leading wealth managers in the Americas in terms of financial advisor productivity and invested assets. Its business includes UBS’s domestic U.S. and Canadian wealth management businesses, as well as international business booked in the U.S. It provides a fully integrated set of wealth management solutions designed to address the needs of ultra-high net worth and high net worth clients.

About UBS

UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland. The operational structure of the Group is comprised of our Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank. UBS's strategy builds on the strengths of all of its businesses and focuses its efforts on areas in which it excels, while seeking to capitalize on the compelling growth prospects in the businesses and regions in which it operates, in order to generate attractive and sustainable returns for its shareholders. All of its businesses are capital-efficient and benefit from a strong competitive position in their targeted markets.

UBS is present in all major financial centers worldwide. It has offices in 54 countries, with about 34% of its employees working in the Americas, 35% in Switzerland, 18% in the rest of Europe, the Middle East and Africa and 13% in Asia Pacific. UBS Group AG employs approximately 60,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).

¹Extra points are based on merchant category code. Groceries not bought at stand-alone grocery stores (such as purchases within a larger retail store) may not qualify. Air travel through online sites other than the airlines’ own sites may not qualify.

²If you voluntarily close your card or UBS Bank USA closes your card due to inactivity, you will be allowed 60 days following the effective date of termination of the UBS Account or Cards to redeem outstanding points for gift cards or merchandise. In the event UBS Bank USA closes your Card for any reason other than inactivity, your points will be immediately forfeited.

³To receive 50,000/25,000 bonus points, you must make $3,000 in eligible purchases within the first three months from card account approval. Your period to spend the total $3,000 may be shorter than 3 months if there is a delay in receiving your card. Also, purchases may fall outside the 3 month period in some cases, such as a delay in merchants submitting transactions to us or if the purchase date differs from the date you made the transaction. (For example, if you buy goods online, the purchase date may be the date the goods are shipped.) Qualifying purchases do NOT include fees or interest charges, balance transfers, cash advances, or using any checks that access your account. This one-time bonus offer is valid only for first-time cardholders with new accounts and only one bonus is available per card account, regardless of the number of cardholders on that card account. Existing cardholders are not eligible for this bonus offer. Must apply by December 31, 2017. This offer is valid only with your first UBS credit card application after receiving this offer and it cannot be combined with any other promotions, including existing offers. If you receive and apply for this offer but do not satisfy the requirements, you will not receive any new account bonus. All applications subject to credit approval. Points will be credited to your account after your spend reaches $3,000 in posted transactions within the above three-month period. Points can be redeemed at any time after they have been earned, as long as your card account stays open and in good standing.

⁴Airport club day pass or annual airport club membership must be purchased using your UBS Visa Infinite credit card. You are eligible for a statement credit of up to $500 if your total spending on your card was $50,000 or greater during either the current calendar year-to-date or the prior calendar year. You may claim the credit only once for each year in which you qualify for a credit. If you do not claim the credit in a year, it will not carry over into subsequent years. You must claim the credit during the same calendar year in which the fee posted to your card account.

⁵The Priority Pass Select offers access to over 1,000 participating airport lounges worldwide. Membership is required to access participating lounges. To request your complimentary membership card, visit ubs.com/prioritypassselect.

⁶UBS Visa Infinite credit cardholders are entitled to one $100 statement credit per card every four years in connection with the Global Entry program application fee. The $100 statement credit will be processed after the application fee is charged to a valid UBS Visa Infinite credit card. Global Entry is a U.S. Government program, operated by U.S. Customs and Border Protection (CBP). UBS and Visa have no control over the program including, but not limited to, application, approval process or enrollment fees charged by CBP, and no liability with regard to the Global Entry program.

⁷You must enroll in this benefit on UBS Online Services and select one of the eligible domestic U.S. carriers. The selected airline applies to all cards in the card account. Qualifying Airline Purchases must be charged to a UBS Visa Infinite credit card and may vary by airline. UBS and Visa rely on airlines to submit the correct information for these transactions. UBS Visa Infinite credit cardholders without a UBS Resource Management Account (RMA) or Business Services Account BSA can enroll in this benefit by calling us at 888-762-1232 or call collect 201-352-5257 when outside the U.S.

⁸Enrollment is required at visa.gogoair.com/UBS prior to flying; registration is not available in flight. Eligibility is determined by UBS; your 12 complimentary Inflight Wi-Fi Passes will be available to you at no additional cost after you complete the online enrollment. Passes are valid for 12 months from the date you register your card for this benefit. Any unused Passes at the end of the 12 month period will expire. Each Pass provides for complimentary inflight Wi-Fi Internet access for one device at a time on one flight segment on any participating Gogo-equipped aircraft between airports within the U.S. and Canada where network coverage is available. Participating airlines are listed at ubs.com/mycardbenefits and are subject to change at any time without notice. The use of the passes is subject to Gogo’s Terms of Use and Privacy Policy. This benefit is non-transferable. Visa and UBS reserve the right to modify or cancel this benefit at any time and without notice. Additional restrictions apply. Full program terms and conditions are available at visa.gogoair.com/UBS. UBS Visa Infinite credit cardholders without a UBS Resource Management Account (RMA) or Business Services Account BSA can enroll in this benefit by calling us at 888-762-1232 or call collect 201-352-5257 when outside the U.S.

⁹The Car Rental Privileges benefits are subject to each car rental company’s terms and conditions, which are subject to change.

¹⁰Certain restrictions and limitations may apply. Additional benefits and availability vary by hotel property. For additional details, please visit: visainfinitehotels.com

¹¹Certain restrictions and limitations may apply. For additional details, please visit ubs.com/mycardbenefits.

¹²Benefits are subject to change and cancellation at any time. Certain conditions, limitations and exclusions apply. For more information on benefits, see ubs.com/visainfinite.

¹³Redeem 25,000/50,000 rewards points for one ticket up to $350/$900 on any commercial airline. Tickets must be booked through UBS and charged to your UBS Visa Infinite credit card. Once your purchase is complete, applicable rewards points per ticket will be deducted from your account and a credit posted to your credit card account for the ticket price. For tickets costing more than $350 or $900, you must pay the difference using additional rewards points at a rate of 5,000 points for any additional cost of up to $50 of ticket value. Additional payments may be made only in increments of 5,000 points. You must cover the full cost of ticket with rewards points. As of May 2017, American Express cardholders with a Platinum Card^® must redeem 35,000/90,000 Membership Rewards^® points for one ticket costing up to $350/$900. Please refer to the program and benefits guide that comes with your card for complete rules on redeeming your points. Restrictions apply.

¹⁴The item or items you purchase must add up to $100 or more before redeeming.

¹⁵There must be sufficient funds to repay the cash advance that night or you will incur applicable cash advance fees and interest charges. The automatic transfers used to pay off your CashConnect cash advances will reduce the available funds in your UBS account and as a result could affect other transactions dependent on cash, such as fee payment, investment purchases, online bill pay, debit card usage and outstanding checks. Please make sure that you have sufficient available funds in your UBS account to cover these items, as well as the CashConnect cash advance. Feature available only for cardholders with an RMA or Business Services Account BSA.

¹⁶We are able to rebate ATM fees only in cases where the transaction fee surcharge is identified and submitted to UBS by the ATM operator and/or network used. In the event that you do not receive a rebate for a fee that you believe is eligible, please call 800-762-1000 or collect at 201-352-5257 for assistance.

¹⁷Cardholders are responsible for the cost of any goods or services purchased through the UBS Concierge.

*Important information about the UBS Visa Infinite credit card: 15.99% variable APR for purchases, 22.99% variable APR for cash advances, 29.99% variable APR for the penalty rate (maximum penalty APR 29.99%). For balance transfers, 0% intro APR for the first 12 billing cycles for balance transfers within 90 days of account opening; after that, 15.99% variable APR. APRs vary with the market based on the prime rate. Annual fee: $495. For balance transfers, a fee of $10 or 3% of the amount of the transfer, whichever is greater, applies. For cash advances, a fee of $10 or 3% of the amount of the cash advance, whichever is greater, applies. For residents of Iowa and Puerto Rico only, the balance transfer fee and cash advance fee are equal to $2 or 2% of the amount of the transfer or advance, whichever is greater (maximum fee is $10). Foreign purchase transaction fee: None. Subject to credit approval. Information is accurate as of May 27, 2017, and may have changed after that date. To learn what may have changed, please call 888-762-1232.

VISA, VISA SIGNATURE and VISA INFINITE are registered trademarks owned by Visa International Service Association and used under license. UBS Preferred Visa Signature and UBS Visa Infinite credit cards are issued by UBS Bank USA with permission from Visa U.S.A. Inc. All other trademarks, registered trademarks, service marks and registered service marks are of their respective companies.

All references to the Resource Management Account also apply to the Business Services Account BSA. The RMA and Business Services Account BSA are brokerage accounts. Resource Management Account, RMA and Business Services Account BSA are registered service marks of UBS Financial Services Inc.

The phone number for UBS Bank USA is 1-800-762-1000. New York residents may contact the New York state department of financial services by telephone or visit its website for free information on comparative credit card rates, fees and grace periods at 1-800-342-3736 or www.dfs.ny.gov.

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