Norwegian Air has announced its first co-branded credit card in the US, in alliance with Mastercard and financial services company Synchrony.

The airline’s loyalty programme Norwegian Reward launched the card with multiple rewards and no annual fee or foreign transaction fees.

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Named Norwegian Reward Card, the new product offers $50 in CashPoints on $500 worth of transactions in the first 90 days.

Cardholders will be able to earn 2% extra for Norwegian flights, dining and grocery at Norwegian Reward partners. Customers will get 1% on all other payments.

Users can redeem CashPoints on any Norwegian flight or related extra payments such as checked baggage and seat reservation. The reward points do not have blackout dates or minimum transaction requirement.

Norwegian Reward head of Loyalty and Engagement Kristin Møllerplass said: “With unique benefits and innovative ways to earn CashPoints, the Norwegian Reward Card will attract new customers to Norwegian Air and entice deeper loyalty from our existing members – allowing more Americans to travel to Europe faster.”

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Norwegian Reward has more than 1.4 million members in the US and more than 10 million members worldwide.

Synchrony president and CEO of Retail Card Tom Quindlen said: “Synchrony shares Norwegian’s passion for innovation and technology by investing in next generation capabilities to create enhanced, frictionless customer experiences.

“We look forward to helping Norwegian attract and reward new customers for their loyalty.”