Citibank and Malev Hungarian Airlines have launched a new co-branded credit card.

Described as a “unique reward-based product on the Hungarian market,” the MasterCard offers the standard benefits of a Citibank credit card, along with the ability to collect bonus points for the Malev Duna Club frequent flyer Program.

At the product launch, Batara Sianturi, Consumer Country Business Manager for Citibank Zrt, noted that Citigroup was the first bank to offer real credit cards on the Hungarian market in 1988 and the first co-branded card in 1999.

Upon activation, Silver card holders net a bonus of 2,000 points, and Gold car holders, 4,000. When members take their first flight, they’ll get an additional bonus of 2,000 or 6,000 points, depending on Silver or Gold status.

Silver cardholders earn one point for each HUF 250 spent, with double points in the first three months, while Gold cardholders receive two points for each HUF 400 spent, with double points for the first six months. Spending abroad always earns double points.

The annual fee for Silver card holders is HUF 6,400, and Gold cardholders are charged an annual fee of HUF 16,400. Fifty percent of the annual fee for all cards is waived in the first year.