Icelandair Mastercard®

The Icelandair Mastercard is built for occasional JetBlue flyers who want a no-annual-fee card tied to their airline spending, not for someone looking to maximize everyday rewards. Its strongest use is simple, low-commitment airline loyalty, with modest value on JetBlue purchases and very little reason to use it for most other spending.

Welcome Offer

5,000 Points

Annual Fee

Rec. Credit Score

Good

Good For

Occasional JetBlue flyers

How to Apply

All information about Icelandair Mastercard® has been collected independently by MaxRewards. Icelandair Mastercard® is no longer available through MaxRewards.

Is the Icelandair Mastercard® worth it?

This card is great for...

JetBlue ticket purchases

No-fee airline cardholding

Light loyalty card use

This card is worth considering if you want a no-annual-fee airline card and mostly care about keeping things simple. The upside is straightforward: no annual fee, a small welcome bonus, and a slightly better return on JetBlue purchases than on general spending.

For most readers, though, this is a narrow fit. Earning 0.5x points on everyday purchases is weak, so it is hard to justify as a primary card. The Mastercard merchant offers add a little extra value if you already use services like Lyft, Instacart, or ShopRunner, but they are not strong enough to change the card's overall appeal. If you fly JetBlue from time to time and want a no-fee card to use only with the airline, it can make sense. If you want stronger ongoing rewards, you will likely do better elsewhere.

MaxRewards Verdict

The Icelandair Mastercard fits a very specific reader: someone who wants a no-annual-fee card for JetBlue purchases and does not expect much from everyday rewards. Its main limitation is simple, the earning rate outside JetBlue is too low to make this a useful everyday card.

Welcome Offer

5,000 Points after you spend $1 on purchases on your new card in your first 1 months of card membership.

≈ $65–$68

What 5,000 Points could be worth, based on how you redeem

Award flights (JetBlue)
Revenue-based; no fixed award chart
≈ $68
≈ 1.35¢ per point
Cash + Points
Mix cash and points on JetBlue-operated flights, from 500 points
≈ $65
≈ 1.3¢ per point

Required Spend

Time Frame

1 Month

Required Spend

Time Frame

1 Month

What's your average monthly spend?

$100

You should easily hit the bonus threshold with this spend!

Rewards

Rewards percent based on a valuation of 1.2¢ per TrueBlue point

This card earns TrueBlue points, with most of its value concentrated in JetBlue purchases. That makes the rewards story easy to read: it is an airline-specific earning card first, and a weak general spending card second.

CategoryEst. yearly spendRateRewards

JetBlue

Est. yearly spend

Rate1.2%

Rewards

Everywhere

Est. yearly spend

Rate0.6%

Rewards

Est. Annual Rewards

Benefits

$0 / $20

The benefits here are mostly Mastercard merchant offers rather than major travel perks. They can add a bit of practical value if you already use the included partners, but they are extras, not a core reason to choose the card.

Enrollment is required for select benefits

$20/yr

Automatically track your credits with MaxRewards

Our app automatically tracks valuable credits so you don't miss any rewards.

Get the app

ResortPass

Autotracked

of $20

Status & Access

ShopRunner

Free 2-day shipping and free returns on your favorite brands. Offer ends 9/30/25.

Other

MoviePass

Blockbuster savings on the big screen. Get 50% off your first two months of a new Standard or Premium MoviePass plan. Offer expires 1/31/2026.

Booking.com

Save up to 7% on prepaid stays with Booking.com across 28 million accommodation options at booking.com/mastercardUS. Bookings must be prepaid and made through booking.com/mastercardUS. Valid through 9/30/25.

Lyft

Take 3 rides and get a $5 lift credit every month with your Mastercard. Promotion valid through 1/31/26.

Instacart

Groceries and more delivered in as fast as an hour. Get two months of free delivery with Instacart+ and $10 off your second order each month. Offer ends 1/31/2027.

Peacock

Get $3 off Peacock Premium each month when you use your World Mastercard to subscribe. Watch new movies from theaters, buzzworthy original series, hit TV shows, live sports and so much more. Eligibility restrictions, exclusions and terms apply. Offer expires 12/31/2025.

Recommended Minimum Credit

Min: Good

Poor

Fair

Good

Excellent

Good credit or higher is recommended for this card.

Credit approval is not guaranteed. Meeting the recommended credit range does not ensure approval, and applicants with lower scores may still be considered.