Israelis love to travel, and in recent years they have learned to ask sharper questions about the credit cards that promise to help them get their next dream vacation. Discounts, points and benefits can all be attractive, but for travelers the practical question is more specific: Can everyday spending actually become a flight ticket, an upgrade, additional baggage, a preferred seat or another benefit around the journey?
That question is the basis of the redemption test. It shifts the focus from the promise of value to the ability to use it. In the case of FLY CARD, the value is built around its connection to EL AL’s Matmid Frequent Flyer Club: Everyday card spending can earn Matmid points, and those points can later be redeemed within EL AL’s Matmid Club program, subject to the card type and club terms.
What is the redemption test?
The redemption test asks a simple consumer question: How clearly does accumulated value turn into something usable?
For a travel credit card, that means looking beyond the benefit list and asking what happens after the points are earned. Can they be redeemed for flights? Are there benefits around the journey? Is the value connected to an airline club, a general rewards program, or a discount mechanism?
This is why actual use matters. Points are valuable only when they can move from the account balance to a real travel outcome.
How should consumers evaluate a travel credit card?
A useful way to compare travel cards is to look at several practical criteria:
- Earning model: How everyday spending turns into points or benefits.
- Redemption options: Whether the value can be used for flight tickets, upgrades or travel-related benefits.
- Point accumulated: Validity, usage rules and the terms that affect redemption.
- Travel ecosystem: Whether the card is connected to an airline club, a general rewards program or a broader benefits platform.
In FLY CARD’s case, the defining feature is its link to EL AL’s Matmid Frequent Flyer Club. The value accumulates inside an airline-club environment, where points are connected to flights, bonus tickets and benefits around the EL AL travel experience.
How does everyday spending become travel value?
The model is straightforward: Cardholders use the card for routine expenses, earn points in EL AL’s Matmid Frequent Flyer Club, and can later redeem those points for flights and travel benefits.
Routine spending such as groceries, fuel, bills, online purchases, restaurants or family expenses can therefore become part of a broader travel plan. The spending itself is ordinary. What changes is where the value accumulates: Inside EL AL’s frequent flyer program.
What does FLY CARD offer when joining?
Alongside ongoing points accrual, FLY CARD currently offers a joining benefit for eligible customers who join by the end of August 2026: A complimentary EL AL flight ticket, subject to the benefit terms.
New customers joining the new FLY CARD by EL AL with Isracard, as well as existing CAL FLY CARD holders who complete the transition to the new card, may receive a complimentary EL AL flight ticket to one of a range of destinations, including Athens, Barcelona, Berlin, Rome, Prague, Vienna, Warsaw, Zurich and more, subject to taxes, fees and the campaign regulations.
In the context of a travel credit card, this is one example of the redemption model in action: Value that is connected not only to future point accumulation, but also to a flight-related benefit at the joining stage.
What benefits continue beyond the first ticket?
Starting in 2027, an annual 1+1 flight ticket benefit is expected to be added. Once a year, cardholders will be able to book one flight ticket and receive a companion ticket as a gift, subject to the published terms.
In addition, on Tuesdays, FLY CARD holders can enjoy a 50% discount on the number of points required for selected bonus tickets, subject to the relevant terms.
Together, these benefits show how the card’s value can appear at several points: When earning points, when redeeming them, and when using benefits connected to the flight itself.
What travel benefits come with FLY CARD?
For frequent travelers, the value of a travel card is not only measured at the booking stage. Depending on the card type and the relevant terms, FLY CARD cardholders may receive benefits such as additional baggage, preferred seats, upgrade options, lounge access, special pricing for bonus tickets and other flight-related benefits.
On eligible cards, cardholders may also earn Diamonds, which can help advance their status in EL AL’s Matmid Frequent Flyer Club, subject to the card type and club terms.
Who is FLY CARD suitable for?
FLY CARD is especially relevant for people who fly with EL AL, members of the Matmid Frequent Flyer Club, and customers who concentrate everyday spending on their credit card and want that spending to build toward travel value.
It can suit families planning an annual vacation, couples who travel abroad from time to time, and frequent travelers looking for value around the flight experience, not only at checkout.
What should CAL FLY CARD holders know?
Current CAL FLY CARD holders should complete the transition to the new FLY CARD by Isracard by the end of 2026 in order to continue accruing Matmid points and receiving benefits within EL AL’s Matmid Frequent Flyer Club.
The existing card is expected to continue operating under the issuer’s terms, but from January 1, 2027 it will no longer function as a FLY CARD for Matmid point accrual and club benefits.
Bottom line
When comparing travel credit cards, the key question is not only what benefits are offered, but how clearly those benefits can be used in practice.
FLY CARD by EL AL with Isracard is built around its connection to EL AL’s Matmid Frequent Flyer Club, where everyday card spending can earn Matmid points that may be redeemed within EL AL’s flight ecosystem. With more than one million flight tickets purchased using Matmid points over the past year, the redemption test becomes practical: How close can everyday spending get you to your next flight?
*For customers joining according to the campaign regulations until August 31, 2026. Subject to purchases totaling NIS 10,000 by November 30, 2026. Subject to payment of taxes and fees on the ticket. Eligibility for the 1+1 benefit begins in 2027, subject to the benefit terms to be published. Card issuance and the credit limit are at the sole discretion of Isracard Ltd. and/or Premium Express Ltd. and/or Isracard Financing Ltd. and/or the bank. Failure to repay a loan or credit may result in default interest and enforcement proceedings. Subject to the joining documents, the FLY CARD Isracard regulations and the campaign terms.
This article was written in collaboration with FLY CARD