Members of Northwest Airlines' WorldPerks frequent flier program will be getting new credit cards affiliated with Delta Air Lines' program next year.
The travelers will start packing America Express cards, as they're moved to Delta's frequent flier rewards program. Delta is taking over Northwest.
Delta president Ed Bastian said the airline is extending its relationship with American Express in exchange for a big revenue boost.
"What we announced is a five-year extension which will take us through 2015. Which will have a value to it of over $15 billion over the course of the next seven years, 2009 to 2015. Our estimate of value in the range is over $15 billion. And that is cash revenue for delta," Bastian said.
Bastian said American Express marked the new deal by promptly buying $1 billion worth of frequent flier miles from Delta.
Delta said it will continue to do some business with US Bank, which has been the credit card partner for Northwest's WorldPerks frequent flier program.
Bastian said US bank will continue to provide Delta with debit cards and other banking services.