The new Atmos Rewards Summit card boasts a long list of valuable perks, including a new and highly versatile Global Companion Award benefit, plus 3x back on 'foreign purchases.'

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.