LATAM Airlines Mastercard® Review
Overview
The no-fee LATAM Mastercard earns miles in LATAM's program, which is mostly of interest to people who fly LATAM around South America. As a free card it costs nothing to hold, but the earning is light and the miles are locked to a single foreign airline.
For someone with LATAM travel in their plans it is a harmless free way to earn a few miles, but it is a niche card for most US cardholders.
Think twice if: you do not fly LATAM, since the miles are locked to that single foreign program.
Our 5.7 out of 10 rating
Each score weighs the rewards rate, value after the annual fee, welcome offer, points flexibility, and perks, with every point valued at a flat 1 cent. This is our editorial assessment to help you compare cards, not a guarantee of approval or of the value you will get.
Rewards: how it earns
You earn modest bonuses on dining and transit, in LATAM miles, with no annual fee. The earning is light and the miles are tied to LATAM, so this is really for people with specific LATAM travel plans rather than everyday use.
| Category | Rate | Notes |
|---|---|---|
| Dining and restaurants | 2x | Bonus category |
| Transit and rideshare | 2x | Bonus category |
| Everything else | 1x | Everything else |
Every point and mile above is valued at a flat 1 cent, the same honest standard we use for every card. Run your own spending through the calculator to see what this card would actually return for you.
Pros and cons
- No annual fee
- Useful for LATAM flyers in South America
- Miles locked to LATAM
- Light earning and a small welcome bonus
- Niche appeal for most US cardholders
The welcome bonus
The welcome bonus is small: 15,000 miles after $1,000 in three months. Modest, in line with a no-fee card.
Is it worth the annual fee?
There is no annual fee, so there is nothing to justify. It is a harmless card to hold if you fly LATAM, but the locked miles limit its usefulness to most people.
First-year value vs ongoing value
| Welcome bonus | 15,000 miles |
| To earn it | $1,000 in 3 months |
| Est. first-year value* | $479 |
| Est. ongoing value / yr* | $329 |
The welcome bonus makes year one the high point: roughly $479 in value once you count the bonus, this card’s rewards, and its credits, minus the no fee. After that, the honest figure is about $329 a year, so judge whether it earns its keep on the ongoing number, not the first-year headline.
*First-year value counts the welcome bonus, estimated rewards, and annual credits, minus the annual fee; ongoing value is a typical year after. Every point at a flat 1 cent, on average spending.
Benefits and protections
Beyond the rewards, the perks and protections worth knowing about include:
- No foreign transaction fees
Statement credits
This card does not come with recurring statement credits. Its value is in the rewards rate and welcome offer.
Who should get it, and who should skip it
If you fly LATAM around South America, this free card is a low-stakes way to earn a few of their miles.
If LATAM is not part of your travel, the locked miles will not do much for you. This is a niche card for their flyers.
Frequently asked questions
Best-card guides featuring this card
Offer details verified against issuer sources as of August 2026. Editorial opinions are our own. Cardocrat values all points at a flat 1 cent and never inflates redemptions.
