Delta makes frequent-flier deal with SunTrust

SunTrust Banks Inc. said on Monday it would begin offering a debit card tied to Delta Air Lines frequent-flier miles.

Delta already offers SkyMiles through a deal with American Express credit cards, but adding the SunTrust debit card allows it to reach a new group of cardholders.

SunTrust said the new SunTrust SkyMiles Check Card will launch June 22. SunTrust said this is its first co-branded check card.

The bank said it would offer three tiers of cards. A "Classic Check Card" will offer one frequent flier mile for every $2 purchased, and carry a $20 annual fee. A "Platinum" card offers one mile for every $1 with a $55 annual fee. A third card aimed at businesses has the same terms as the platinum card.

SunTrust and Delta Air Lines Inc. are both based in Atlanta.

SunTrust shares fell 33 cents, or 2 percent, to $16.36 late Monday afternoon. Delta shares fell 31 cents, or 4.8 percent, to $6.09.