Booking.com launches new credit card with travel rewards

NEW YORK - Booking.com, a prominent player in the Hotels, Restaurants & Leisure industry with impressive annual revenue of $25.02 billion, announced Thursday the launch of its Genius Rewards Visa Signature Credit Card, powered by Imprint, offering cardholders Travel Credits instead of traditional points or miles systems.

The new card comes with no annual fee and provides various earning rates: 6% in Travel Credits on stays booked through the Booking.com app, 5% on other Booking.com travel purchases, 3% on purchases made during stays booked through the platform, 3% on dining, gas, and groceries, and 2% on all other purchases.

Cardholders automatically receive Genius Level 3 status, Booking.com’s highest loyalty tier, which includes benefits such as 10-20% discounts on select stays worldwide, free breakfast options, room upgrades at participating properties, and priority customer support.

"Today’s travelers want flexibility and transparency in how they earn and redeem rewards, and they want it all in one place," said Ben Harrell, Managing Director, U.S. at Booking.com, in a press release statement.

The card offers a $150 Travel Credits welcome bonus after spending $1,500 in the first 90 days and $100 in bonus Travel Credits annually after spending $15,000 or more. Additional benefits include no foreign transaction fees and various protection benefits including auto rental and trip cancellation insurance. This strategic move comes as InvestingPro data shows Booking.com maintaining impressive gross profit margins of 86.77%, demonstrating strong operational efficiency.

According to survey data included in the announcement, 82% of American cardholders check their credit card rewards more frequently than their retirement accounts, while only 28% feel confident they’re maximizing their rewards.

The card is issued by First Electronic Bank and serviced by Imprint Payments, Inc.

Booking Holdings Inc. trades on NASDAQ under the ticker BKNG. According to InvestingPro analysis, the stock has delivered a remarkable 53.68% return over the past year, with 10 analysts recently revising their earnings estimates upward. For detailed insights and 12 additional ProTips about BKNG’s performance, visit InvestingPro’s comprehensive research report.

In other recent news, Booking Holdings has reported solid second-quarter results, prompting DA Davidson to raise its stock price target to $6,500, maintaining a Buy rating. The company experienced room night growth of 8%, surpassing its guidance range of 4-6%. RBC Capital also increased its price target for Booking Holdings to $6,100, citing the company’s category leadership and capital return program as supportive factors. However, Wedbush downgraded Booking Holdings from Outperform to Neutral, maintaining a price target of $5,900, due to valuation concerns after several quarters of better-than-expected performance. Meanwhile, Erste Group upgraded Booking Holdings’ stock rating from Hold to Buy, attributing the change to the rising global travel demand. In a related development, Southwest Airlines flights are now available for booking on Priceline’s platform, a part of Booking Holdings, allowing customers to earn Rapid Rewards points. This partnership also extends to other Booking Holdings brands, including Booking.com and Agoda.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.