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Alaska Airlines

is getting into the industry’s race for high-end credit cards and creating a combined frequent flyer program, called Atmos Rewards, with Hawaiian Airlines, which it acquired last year.

The $395-a-year Atmos Rewards Summit Visa Infinite card, co-branded with Bank of America

, is the carrier’s first premium credit card and includes perks like airport lounge passes, instant $50 vouchers for delays and discounted global companion fares.