FLY CARD, the credit card linked to EL AL’s Matmid Frequent Flyer Club, is now being issued by Isracard, although existing cards issued by CAL will continue earning points until the end of 2026.
For many Israelis who regularly fly with EL AL, FLY CARD turns everyday spending into Matmid points and, on eligible premium cards, Diamonds that count toward the airline’s higher membership tiers.
The transition has generated questions among cardholders who have received messages containing different card names and offers. The main point is straightforward: Customers with a CAL-issued FLY CARD can continue earning through December 31, 2026, but those who want uninterrupted accrual after that date should arrange to receive a new Isracard FLY CARD.
What has changed?
EL AL signed a 10-year strategic agreement with Isracard and Premium Express in March 2026 under which Isracard will issue FLY CARD credit cards to members of the Matmid Frequent Flyer Club.
At the same time, EL AL moved to end its previous arrangement with CAL, also known as Israel Credit Cards. The termination of that agreement takes effect on December 31, 2026.
This means that customers do not lose their benefits immediately. According to Isracard’s official information page, existing CAL-issued FLY CARDs will continue earning Matmid points until the end of the year.
Cardholders who want to keep earning without interruption from January 1, 2027, should apply for the appropriate Isracard FLY CARD before the transition period ends.
Will the old card continue earning points?
Yes. A CAL-issued FLY CARD will continue earning Matmid points through December 31, 2026.
The fact that the old card remains active as a payment card after that date does not necessarily mean that it will continue functioning as a FLY CARD or earning Matmid benefits. Customers should distinguish between the card’s general validity as a credit card and its connection to the EL AL loyalty program.
Cardholders should also note that receiving the new card does not automatically cancel the previous one. Isracard says cancellation of the old card remains the customer’s responsibility. Customers should review recurring payments and other charges before deciding when to cancel it.
What happens to points and Diamonds already earned?
Points and Diamonds already credited to a customer’s Matmid account remain in that account and continue to be valid in accordance with the Matmid Frequent Flyer Club rules.
The transition concerns the future issuance and operation of the credit card. It does not erase points or Diamonds that have already been transferred to the member’s EL AL account.
Point validity is governed by the Matmid regulations. The current card terms state that points are generally valid for 18 months and may be extended when the member meets the qualifying activity requirements set by the club. Customers should check the expiration dates displayed in their personal Matmid accounts and review the latest regulations before relying on accumulated points.
What benefits come with the new FLY CARD?
The central feature of FLY CARD is its direct connection to EL AL’s Matmid Frequent Flyer Club. Purchases made with the card earn Matmid points according to the accrual ratio of the selected card.
Eligible premium cards also earn Diamonds, which can help customers qualify for higher Matmid membership tiers, subject to annual limits and the club regulations.
Depending on the card selected, benefits may include:
- Matmid points earned on regular purchases
- Diamond accrual on eligible premium cards
- Reduced-point offers for selected EL AL destinations on Tuesdays
- The ability to use points for flights, seats and upgrades
- Benefits and discounts through FLYSTORE
- Reduced foreign-currency transaction fees
- Additional Isracard travel and consumer benefits
The accrual ratios, monthly card fees and foreign-currency fees differ between card types. Customers planning to use a card abroad should compare these charges carefully, since foreign-currency fees can add considerably to travel costs.
What is included in the July joining offer?
Customers who join an Isracard or American Express FLY CARD between July 5 and August 5, 2026, and make eligible purchases totaling NIS 10,000 by November 30, 2026, may qualify for a complimentary round-trip EL AL ticket to one of the destinations included in the campaign.
The customer must pay the applicable taxes, fees, levies and surcharges. Certain transactions, including loans, interest, commissions, cash withdrawals and payments through money-transfer applications, do not count toward the NIS 10,000 spending requirement.
The campaign is also open to eligible holders of CAL-issued FLY CARDs who apply for the new card during the campaign period, subject to the full regulations.
The destinations listed in the campaign are Athens, Barcelona, Belgrade, Berlin, Budapest, Batumi, Rome, Frankfurt, Krakow, Larnaca, Munich, Milan, Bucharest, Paphos, Prague, Chisinau, Sofia, Salzburg, Tbilisi, Tirana, Venice, Vienna, Warsaw and Zurich.
The complimentary ticket must be issued by December 31, 2026, and applies to departures between November 1, 2026, and March 31, 2027. It is issued in the name of the Matmid member who joined the campaign and cannot be transferred. The customer must also continue holding a valid new FLY CARD at the time of travel.
What is the annual 1+1 benefit?
Starting January 1, 2027, holders of Isracard-issued FLY CARDs are expected to receive an annual 1+1 flight benefit, replacing the existing birthday benefit.
Isracard says eligible cardholders will be able to receive a second ticket when booking an EL AL flight once a year. The full redemption conditions have yet to be published, so customers should review the final terms before calculating the value of the benefit.
Which FLY CARD is right for you?
FLY CARD is a family of cards rather than a single product. The options currently include FLY CARD, FLY CARD PREMIUM SELECT, FLY CARD PREMIUM and FLY CARD PREMIUM American Express.
The appropriate choice depends on several factors: monthly spending, frequency of EL AL travel, the importance of earning Diamonds, the points-accrual ratio, the foreign-currency fee and the monthly card fee.
Customers who fly occasionally may place greater weight on the card fee, standard accrual ratio and joining benefit. Frequent EL AL passengers may find greater value in a premium card that offers Diamond accrual and a more favorable points ratio.
Applicants should also examine the eligibility conditions. Some premium cards require a minimum average monthly spending level for certain customers, while different rules may apply to members who already hold higher Matmid status.
How is FLY CARD different from other travel credit cards?
Several Israeli credit cards offer cashback, travel discounts or credits that can be redeemed when purchasing airline tickets and hotels.
FLY CARD is directly affiliated with EL AL’s Matmid Frequent Flyer Club. Spending on the card is converted into Matmid points, while eligible premium-card spending may also generate Diamonds toward membership status.
Consumers comparing travel cards should ask:
- Is the card connected to a specific airline loyalty program?
- How much spending is required to earn one point?
- Can card spending generate status credit or Diamonds?
- What are the monthly card and foreign-currency fees?
- Are points restricted to one airline or usable across several travel providers?
- Will the customer regularly use the benefits included with the card?
The best choice depends on the customer’s spending and travel habits. A valuable benefit on paper may offer limited practical value when the cardholder rarely uses the relevant airline or redemption option.
Do American Express FLY CARD holders need to switch?
No action is currently required for customers who already hold a FLY CARD PREMIUM American Express.
American Express is part of the Isracard Group and remains a strategic partner of the Matmid Frequent Flyer Club. According to Isracard, these cards remain active, continue earning points and Diamonds and retain their existing benefits.
What should cardholders do now?
Customers who hold a CAL-issued FLY CARD should first confirm which card they currently possess and review the points, card fees and benefits associated with the Isracard alternatives.
Those interested in the current complimentary-ticket campaign must apply during the July 5-August 5 campaign period and meet the spending requirement by November 30.
Other CAL cardholders have until the end of 2026 to arrange the transition if they want to avoid an interruption in Matmid accrual. Applying earlier may provide time to receive and activate the new card, review recurring charges and determine when to cancel the previous card.
The transition can be completed digitally through the Isracard website or through the relevant customer-service centers.
The bottom line
FLY CARD is moving from CAL to Isracard, but existing CAL-issued cards will continue earning Matmid points through December 31, 2026.
Points and Diamonds already credited to Matmid accounts remain in place under the club regulations. Customers who want continued accrual from the beginning of 2027 should choose and activate an Isracard-issued FLY CARD before the transition period ends.
*All benefits are subject to the card terms and the official EL AL, Matmid Frequent Flyer Club and Isracard regulations. Diamond accrual applies only to eligible premium cards. Accrual ratios, fees, eligibility requirements and promotional offers may change.
Sources and update: This article is based on information published by EL AL, the Matmid Frequent Flyer Club and Isracard and was accurate as of the publication date. Customers should consult the official regulations before applying for a card or redeeming a benefit.
In collaboration with FLY CARD