CardRewardsEditorial disclosure: CardRewards.ai is an independent comparison service. Our analysis is based on publicly available card data and is reviewed regularly by our editorial team. Card issuers do not influence our rankings or content. Last updated: June 2026.
Ranked by effective value per dollar at Icelandair — including welcome offer math, redemption value, and annual fee.
Rankings are generated by our algorithm based on earn rates, point valuations, fees, and benefits — not paid placement. We don't accept compensation to rank cards higher. How we rank
Icelandair Mastercard® earns the top spot for Icelandair purchases at 2.0¢ per dollar — no annual fee, factoring in welcome offers and ongoing rewards. We ranked every card in our database against Icelandair purchases using the same scoring engine that powers our search. The list below orders cards by net value to you, not by what pays the biggest affiliate commission. Cards 4–10 are still solid picks; they just trade off some of the headline value for fewer fees, broader networks, or simpler redemptions.
Fnbo
Ranked by effective value per dollar at Icelandair — including welcome offer math, redemption value, and annual fee.
Rankings are generated by our algorithm based on earn rates, point valuations, fees, and benefits — not paid placement. We don't accept compensation to rank cards higher. How we rank
Icelandair Mastercard® earns the top spot for Icelandair purchases at 2.0¢ per dollar — no annual fee, factoring in welcome offers and ongoing rewards. We ranked every card in our database against Icelandair purchases using the same scoring engine that powers our search. The list below orders cards by net value to you, not by what pays the biggest affiliate commission. Cards 4–10 are still solid picks; they just trade off some of the headline value for fewer fees, broader networks, or simpler redemptions.
Fnbo
Ranked by effective value per dollar at Icelandair — including welcome offer math, redemption value, and annual fee.
Rankings are generated by our algorithm based on earn rates, point valuations, fees, and benefits — not paid placement. We don't accept compensation to rank cards higher. How we rank
Icelandair Mastercard® earns the top spot for Icelandair purchases at 2.0¢ per dollar — no annual fee, factoring in welcome offers and ongoing rewards. We ranked every card in our database against Icelandair purchases using the same scoring engine that powers our search. The list below orders cards by net value to you, not by what pays the biggest affiliate commission. Cards 4–10 are still solid picks; they just trade off some of the headline value for fewer fees, broader networks, or simpler redemptions.
Fnbo
Amex
Chase
Icelandair Mastercard® earns 2.0¢ per dollar at Icelandair, the highest in our database. Without an annual fee, the math is simple — every dollar you spend earns immediately. It's the right pick if you want maximum value on this category and don't mind a focused rewards structure.
All 10 cards ranked by effective value per dollar.
| Card | Icelandair Rate | Effective Value | Annual Fee | Fee Offset | Network |
|---|---|---|---|---|---|
| Icelandair Mastercard®Fnbo | 2x points | 2.0¢/$ | $0 | — | mastercard |
| The Platinum Card from American ExpressAmex | 5x Membership Rewards | 9.0¢/$ | $895 | $1,422 | amex |
| Chase Sapphire ReserveChase | 4x Ultimate Rewards | 7.2¢/$ | $795 | $968 | visa |
| Icelandair Premium Mastercard®Fnbo | 2x points | 2.0¢/$ | $39 | — | mastercard |
| Wells Fargo Autograph Journey Visa Credit CardWells Fargo | 4x Wells Fargo Rewards | 6.0¢/$ | $95 | $33 | visa |
| Chase Freedom FlexChase | 5x Ultimate Rewards | 5.4¢/$ | $0 | $30 | mastercard |
| Citi Strata Credit CardCiti | 5x ThankYou Points | 4.5¢/$ | $0 | $162.50 | mastercard |
| American Express Green CardAmex | 3x Membership Rewards | 5.4¢/$ | $150 | $144.50 | amex |
| U.S. Bank Altitude Connect Visa Signature CardUsbank | 4x Usbank Altitude Rewards | 4.0¢/$ | $0 | $80.50 | visa |
| Quicksilver Rewards for Good CreditCapital One | 5x points | 5.0¢/$ | $0 | — | mastercard |
Other brands in Airlines where the top picks above also earn well.
Want to filter by spend amount, network, or fee preference?
Open in full search with filters →Amex
Chase
Icelandair Mastercard® earns 2.0¢ per dollar at Icelandair, the highest in our database. Without an annual fee, the math is simple — every dollar you spend earns immediately. It's the right pick if you want maximum value on this category and don't mind a focused rewards structure.
All 10 cards ranked by effective value per dollar.
| Card | Icelandair Rate | Effective Value | Annual Fee | Fee Offset | Network |
|---|---|---|---|---|---|
| Icelandair Mastercard®Fnbo | 2x points | 2.0¢/$ | $0 | — | mastercard |
| The Platinum Card from American ExpressAmex | 5x Membership Rewards | 9.0¢/$ | $895 | $1,422 | amex |
| Chase Sapphire ReserveChase | 4x Ultimate Rewards | 7.2¢/$ | $795 | $968 | visa |
| Icelandair Premium Mastercard®Fnbo | 2x points | 2.0¢/$ | $39 | — | mastercard |
| Wells Fargo Autograph Journey Visa Credit CardWells Fargo | 4x Wells Fargo Rewards | 6.0¢/$ | $95 | $33 | visa |
| Chase Freedom FlexChase | 5x Ultimate Rewards | 5.4¢/$ | $0 | $30 | mastercard |
| Citi Strata Credit CardCiti | 5x ThankYou Points | 4.5¢/$ | $0 | $162.50 | mastercard |
| American Express Green CardAmex | 3x Membership Rewards | 5.4¢/$ | $150 | $144.50 | amex |
| U.S. Bank Altitude Connect Visa Signature CardUsbank | 4x Usbank Altitude Rewards | 4.0¢/$ | $0 | $80.50 | visa |
| Quicksilver Rewards for Good CreditCapital One | 5x points | 5.0¢/$ | $0 | — | mastercard |
Other brands in Airlines where the top picks above also earn well.
Want to filter by spend amount, network, or fee preference?
Open in full search with filters →Amex
Chase
Icelandair Mastercard® earns 2.0¢ per dollar at Icelandair, the highest in our database. Without an annual fee, the math is simple — every dollar you spend earns immediately. It's the right pick if you want maximum value on this category and don't mind a focused rewards structure.
All 10 cards ranked by effective value per dollar.
| Card | Icelandair Rate | Effective Value | Annual Fee | Fee Offset | Network |
|---|---|---|---|---|---|
| Icelandair Mastercard®Fnbo | 2x points | 2.0¢/$ | $0 | — | mastercard |
| The Platinum Card from American ExpressAmex | 5x Membership Rewards | 9.0¢/$ | $895 | $1,422 | amex |
| Chase Sapphire ReserveChase | 4x Ultimate Rewards | 7.2¢/$ | $795 | $968 | visa |
| Icelandair Premium Mastercard®Fnbo | 2x points | 2.0¢/$ | $39 | — | mastercard |
| Wells Fargo Autograph Journey Visa Credit CardWells Fargo | 4x Wells Fargo Rewards | 6.0¢/$ | $95 | $33 | visa |
| Chase Freedom FlexChase | 5x Ultimate Rewards | 5.4¢/$ | $0 | $30 | mastercard |
| Citi Strata Credit CardCiti | 5x ThankYou Points | 4.5¢/$ | $0 | $162.50 | mastercard |
| American Express Green CardAmex | 3x Membership Rewards | 5.4¢/$ | $150 | $144.50 | amex |
| U.S. Bank Altitude Connect Visa Signature CardUsbank | 4x Usbank Altitude Rewards | 4.0¢/$ | $0 | $80.50 | visa |
| Quicksilver Rewards for Good CreditCapital One | 5x points | 5.0¢/$ | $0 | — | mastercard |
Other brands in Airlines where the top picks above also earn well.
Want to filter by spend amount, network, or fee preference?
Open in full search with filters →