UBS Wealth Management in the US plans to launch UBS-brand Visa and American Express credit cards as well as a reward programme, according to...

UBS Wealth Management in the US plans to launch UBS-brand Visa and American Express credit cards as well as a reward programme, according to US press reports. The new cards are part of a strategy by the Zurich-based bank to encourage customers to use their brokerage accounts as their primary bank accounts, said the reports. The move also represents efforts by the industry to expand banking relationships with customers. Cardholders will earn one point for every dollar charged using the basic, or "Select" cards, which carry no annual fees, said the reports. UBS will offer special cards for its wealthier customers. These so-called "Premier" and "Charter" versions of the cards will carry annual fees of $350 and $1,500, respectively, and allow customers to earn 1.5 points for every dollar spent. The "Charter" card will be available to customers who have at least $5 million in assets at the firm and comes with perks such as unlimited companion airline tickets.