Alaska Airlines is launching a $395-a-year rewards credit card as it joins the industry's race for high-spending customers. It is also launching a combined loyalty program with Hawaiian Airlines, called Atmos, and raising requirements for elite status. Alaska acquired Hawaiian last year and plans to keep the two brands operating separately.

A laska Airlines and Hawaiian Airlines have launched a joint loyalty program called Atmos Rewards and introduced a new premium co-branded credit card, the Atmos Rewards Summit Visa Infinite, as part of a broader repositioning to serve more global and premium travelers.