What a LATAM credit card is and who it's for
A LATAM credit card is a co-branded card issued by LATAM Airlines and a bank partner — usually a major issuer like Visa or Mastercard. The card earns points on every purchase you make, and those points convert into LATAM airline miles or can be redeemed for flights, seat upgrades, and other travel benefits. If you fly LATAM regularly or want to build toward free or discounted travel, this card might fit your spending pattern.
These cards come in different tiers — basic, gold, platinum — with higher annual fees tied to better earning rates and perks like priority boarding or lounge access. The trade-off is straightforward: you pay an annual fee upfront, earn rewards faster than a standard cash-back card, but only if you actually use the miles before they expire or close the account.
LATAM credit cards are not the same as LATAM's frequent flyer membership. You can hold a LATAM frequent flyer account without the card, and you can hold the card without being a frequent flyer member — though the card usually comes with automatic membership or a membership upgrade.
Key Takeaways
- LATAM credit cards charge an annual fee that ranges by card tier and issuing bank, and you earn miles on purchases at a rate that depends on the card level and merchant category.
- Miles expire after a set period of inactivity — usually 24 to 36 months — so you need a realistic plan to use them before they vanish.
- The card's value depends on whether you actually fly LATAM or can transfer miles to partner airlines; if you never book a flight, the annual fee is a pure cost.
- Your credit score and payment history determine whether you are approved and what interest rate you receive if you carry a balance.
- LATAM operates in South America and the Caribbean, so the card makes most sense if your travel plans include those routes.
How miles are earned and what they're worth
Every dollar you spend on the card earns a set number of miles — typically 1 to 3 miles per dollar depending on the card tier and what you're buying. A basic card might earn 1 mile per dollar on all purchases, while a premium card earns 2 or 3 miles per dollar on airline tickets, hotels, and dining, and 1 mile per dollar on everything else. Check your specific card's earning structure before you sign up, because the difference between 1 and 3 miles per dollar adds up fast.
The actual value of a mile depends on how you redeem it. A LATAM mile is worth roughly 1 to 1.5 cents when you book a flight directly through LATAM's website — so 10,000 miles might get you a $100 to $150 flight. That value can be higher or lower depending on the route, the season, and seat availability. If you transfer miles to a partner airline like American Airlines or Avianca, the value can shift in either direction.
Miles do not earn interest and do not roll over indefinitely. LATAM's policy typically expires miles after 24 to 36 months of no account activity — no flights booked, no miles earned, no miles redeemed. If you stop flying or using the card, your balance can disappear. You can sometimes extend the expiration by making a small purchase or booking a flight, but you cannot assume miles will wait for you.
Annual fees and when they're worth paying
LATAM credit card annual fees vary by issuing bank and card tier. A basic card might cost $50 to $95 per year, while a premium card can run $200 to $450 or more. Some cards waive the first year's fee or offer a sign-up bonus of miles that offsets the cost. Before you commit, calculate whether the miles you'll earn in a year exceed the fee you're paying.
A straightforward math check: if your card costs $100 per year and you earn 1.5 miles per dollar on $10,000 in annual spending, you earn 15,000 miles. At 1.2 cents per mile, that's $180 in value — a $80 net gain. But if you only spend $3,000 per year, you earn 4,500 miles worth roughly $54, and you've lost $46 to the annual fee. The card only makes sense if your spending pattern and travel plans justify the cost.
Some cards offer perks beyond miles — priority boarding, seat upgrades, travel insurance, or airport lounge access — that add value independent of the miles themselves. Read the full benefits list for your specific card, because a $200 annual fee might include a $100 lounge credit that you'll actually use.
Interest rates, credit limits, and how the card affects your credit
A LATAM credit card is a standard credit card, not a charge card. That means you can carry a balance from month to month, but you'll pay interest on whatever you don't pay off. The interest rate — called the APR, or annual percentage rate — depends on your credit score and payment history. Someone with excellent credit might receive 15% APR, while someone with fair credit might receive 22% or higher. Always ask what APR you'll receive before you accept the card.
Your credit limit is the maximum you can charge to the card. The issuing bank sets this based on your income, existing debt, and credit history. If you're approved for a $5,000 limit and you charge $4,500 to the card, your credit utilization is 90% — which can hurt your credit score even if you pay the full balance on time. Financial advisors generally recommend keeping utilization below 30%, so a LATAM card should not be your only card if you plan to carry a balance.
Opening a new credit card triggers a hard inquiry on your credit report, which can lower your score by a few points for a few months. If you're planning to explore for a mortgage or car loan soon, opening a new card might not be the right timing. On the other hand, if you pay the card in full every month and never miss a payment, the card will build your credit history and improve your score over time.
How to compare LATAM cards from different banks
LATAM credit cards are issued by different banks in different countries. In the United States, for example, you might see LATAM cards from Chase, American Express, or other issuers. In Latin America, local banks offer their own versions. The card's earning rate, annual fee, and perks vary by issuer, so a LATAM card from one bank is not the same as a LATAM card from another.
When comparing cards, line up these details side by side: annual fee, earning rate by category (flights, hotels, dining, other), sign-up bonus, expiration policy for miles, and any perks like lounge access or travel insurance. A card with a higher annual fee might earn miles faster, but only if you spend enough to make up the difference. A card with a lower fee might be better if you fly LATAM only once or twice a year.
Also check whether the card is available to you. Some LATAM cards are only issued to residents of specific countries, and some require a minimum income or credit score. If you're not sure whether you can open a card, contact the issuing bank directly — they can tell you the requirements without running a hard inquiry.
Alternatives if a LATAM card doesn't fit your situation
If you don't fly LATAM often enough to justify the annual fee, a general travel rewards card might be a better fit. Cards like the Chase Sapphire Preferred or American Express Gold earn points on travel and dining without locking you into one airline. You can then transfer those points to LATAM or any other partner airline, or redeem them for cash back if you change your travel plans.
If you want to earn LATAM miles without paying an annual fee, you can join LATAM's frequent flyer program for free and earn miles by flying LATAM, booking through their website, or using a co-branded debit card if your bank offers one. You won't earn miles as fast as with a credit card, but you also won't pay a fee. This route works if you fly LATAM a few times per year and don't mind a slower accumulation.
If you're building credit or recovering from past debt, a standard rewards card with no annual fee might be safer than a LATAM card. The annual fee adds pressure to spend and use the card, which can lead to overspending or carrying a balance. A no-fee card lets you build credit without that extra cost.
What happens to your miles if you close the account
If you close a LATAM credit card, your miles do not automatically disappear — they stay in your LATAM frequent flyer account as long as you have one. The miles will still expire after the standard inactivity period (usually 24 to 36 months), but closing the card itself does not trigger when ready expiration. You can keep the miles and use them to book flights even after the card is gone.
However, some card benefits — like earning bonus miles on purchases or receiving perks like lounge access — end the moment you close the card. If you're thinking about closing the card to avoid the annual fee, first check whether you have enough miles to book a flight soon. If you have 5,000 miles and the annual fee is $100, it might be worth paying the fee for one more year to accumulate enough miles for a redemption.
If you want to keep the miles but drop the card, ask the issuing bank whether they offer a no-fee version of the card. Some banks let you downgrade to a basic card with no annual fee, which keeps your account open and your miles active without the yearly cost.
Frequently Asked Questions
Can I use a LATAM credit card to book flights on other airlines?
Not directly. You earn miles that are specific to LATAM's frequent flyer program, and you redeem them for LATAM flights or transfers to partner airlines. You cannot use the card to earn miles on flights with United, Delta, or other carriers unless they are part of LATAM's alliance or partnership network. Check LATAM's partner list to see which airlines accept transferred miles.
What's the difference between a sign-up bonus and ongoing earning?
A sign-up bonus is a one-time grant of miles you receive for opening the card and meeting a spending requirement — often 5,000 to 10,000 miles after you spend $1,000 or $2,000 in the first few months. Ongoing earning is the miles you accumulate on every purchase after that. The sign-up bonus can be valuable, but it only happens once, so focus on the ongoing earning rate if you plan to keep the card long-term.
Do I lose miles if I don't use my card for a while?
Miles expire after a period of inactivity — usually 24 to 36 months with no account activity. This includes no flights booked, no miles earned, and no miles redeemed. You can reset the clock by making a purchase on the card or booking a flight, even a small one. If you're worried about expiration, check your account regularly and plan a redemption before the important date.
What if my credit score is not very good?
You may still be approved for a LATAM credit card, but you'll likely receive a higher interest rate and a lower credit limit. Some issuers offer cards specifically for people building credit, though these often have higher fees or lower earning rates. If you're approved, focus on paying the full balance every month to avoid interest charges and to improve your credit score over time.
Can I earn miles on the annual fee itself?
No. Annual fees are not a purchase, so they do not earn miles. The fee is a cost you pay to the bank, separate from your spending. Some cards offer a statement credit or bonus miles to offset the fee, but the fee itself does not generate miles.