Last week I blogged about Chase’s introduction of a Fairmont co-branded Visa, it seems that Chase posted the application a bit too early, pulled it quickly, and now I’m told they’ll actually be launching the card May 10th at fairmontcard.com.

Details on the card as they’ve been shared with me by certain sources will be as follows:

• The card comes with 2 free nights including breakfast after $1000 in spend within 3 months.

• The $95 annual fee is waived the first year

• The card comes no foreign currency transaction fees

• They throw in an annual membership with the Lounge Club, including two free visits per year.

• Each year there will be an anniversary free night for cardholders who spend $12,000 or more on the card.

• Earning will be 5 points per dollar for Fairmont spend, 2 points per dollar for air, car rental, train tickets, and 1 point per dollar on everything else.

• Base members will receive Premier (first-tier elite) status, while earning a stay towards status for each $7500 spent on the card up to two stays per year.

• Current elite members getting that card also earn an annual upgrade certificate to Fairmont Gold from a Deluxe room as well as (2) $25 (dining certificates for current Premier members and (4) $25 dining certificates for Platinum members.

Seems very similar to how Chase has structured the Hyatt card, and one more for the list worth getting for the signup bonus potentially. Just wish that most of the best offers these days weren’t coming from Chase.

Meanwhile, earning a certain number of points per dollar suggests that Fairmont will be rolling out a points-based program, whereas current benefits earn airline miles per stay rather than free nights.