U.S. Bank to Release the U.S. Bank Altitude Reserve Visa Infinite® Card
After all the rumors, U.S. Bank president of retail payment John Steward confirmed that they will be entering the premium card market with the U.S. Bank Altitude Reserve Visa Infinite® Card. The card will compete in the premium cards space once dominated by American Express, offering an impressive signup bonus, travel perks, and a unique bonus structure.
What You Get
The card offers a rumored 50,000 point signup bonus if you meet the minimum spending requirement. Points are valued at 1.5 cents when you redeem for travel, so the bonus could be worth up to $750. You will also receive $325 in annual credits for travel related spending. Rather than being tied to a specific travel program, you can redeem these points for all travel purchases such as taxis, baggage fees, and inflight meals on any airline. The card also offers TSA PreCheck or Global Entry credits, and Priority Pass travel lounge access.
The U.S. Bank Altitude Reserve Visa Infinite® Card earns 3x points on travel purchases, but what makes it unique is that is also earns 3x points on all mobile wallet spending using Apple Pay, Android Pay, Samsung Pay, or Microsoft Wallet. You can redeem points for travel, merchandise, gift cards, events, or statement credits. You can also use their app on your phone to redeem points instantly for almost any purchase you just made with the card (at a lower rate of 1 cent per point).
The card’s benefits and rewards compare favorably with the other premium cards in the space. Where once the space was dominated by the Platinum Card® from American Express, (a Credit Cards House advertiser), more options started to appear with the Citi Prestige® Card from Citi (a Credit Cards House advertiser), and most recently by Chase with the Chase Sapphire Reserve®. These cards offer superior perks for travelers for a high annual fee ($450-$550). The U.S. Bank Altitude Reserve Visa Infinite® Card will have the lowest annual fee at $400.
What You Don’t Get
The main drawback for the card is that it requires an account with U.S. Bank. While great for current customers, it may be enough to entice customers to change banks. Also, despite the value of all the rewards, the high annual fee may be too much for many. You also won’t be able to transfer your points to other frequent traveler programs.
If you are a current U.S. Bank customer and are looking for a luxury card, this is a card you should consider. With a long list of premium benefits, U.S. Bank Altitude Reserve Visa Infinite® Card can fit well any traveler’s wallet. The card is set to be released on 5/1/2017.
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Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.