Switzerland's UBS is launching a credit card for its American super-rich clients. The Swiss bank follows a trend of courting the wealthy through exclusive benefit programs.
Zurich-based UBS isn't issuing just another credit card: the Swiss bank said the new metal card for its high and ultra-high net worth clients, with rewards points which don't expire.
Dubbed UBS Visa Infinite, the $495 annual card can also access advice from their broker through the card: clients get 24/7 access to a U.S.-based concierge group, as well as advisors who set up automatic payments and enroll clients in fraud, activity, and travel alerts.
The move isn't novel: U.S. brokerage houses have sought to entice millionaires with premium credit cards. Morgan Stanley recently partnered with American Express on a platinum card with lucrative benefits which is only available to clients with an account at the brokerage.
