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US Bank to offer new Altitude Reserve, compete wth CSR

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rated:
totally copying from wallaby but didn't see this mentioned here yet:

https://www.walla.by/blog/159729511534/confirmed-details-about-the-us-bank-altitude

$400 annual fee, $75 per AU
$325 travel credit
$100 TSA pre-check or Global Entry credit every four years
12 free Gogo inflight wifi passes annually
50,000 bonus points after $4500 spend in 90 days
3x points on travel
3x points on electronic wallet payments
points redeemed at value of 1.5 cents each

Must have US bank relationship such as a loan or an account

other benefits reviewable at link

My initial thoughts are To go for it. Net cost of $75 first year and we can use the Global entry for our son (used up 3 from various CSRs this year) meaning net cost of -$25; plus $750 worth of bonus points; and 4.5% on e-wallet purchases is pretty sweet.

Probably will get Chase Freedom Unlimited first to avoid 5/24 rule, then get a his and hers US Bank Altitude.

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Most Recent Posts
My accounts page doesn't show a new card. How long did it take for yours to show up?

Update: I called the underwriting de... (more)

peterlin (May. 02, 2017 @ 5:54a) |

The card showed up right afterwards for me, but it looks like you got it all taken cared.

b534202 (May. 02, 2017 @ 1:29p) |

Definitely only for cross-sell:

"The U.S. Bank Altitude Reserve Visa InfiniteŽ Card is offered to U.S. Bank customers who... (more)

cestmoi123 (May. 02, 2017 @ 1:43p) |

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rated:
That's 4.5% cash towards travel for all apple pay purchases... pretty damn good.

rated:
Only possible caveat (well besides the US Bank relationship requirement) would be the details of the 1.5x redemption, especially if booking has to be done through them, which partners are restricted if any, etc.

Otherwise it looks pretty good for travel expenses. Especially if you need to get TSA pre-check or Global entry.

rated:
Bloggers reporting caps on the 3x for Apple Pay.

rated:
No 3x dining is a huge deficiency.

rated:
What does getting a Chase Freedom Unlimited have to do with getting this card? Do you mean that you want a Chase Freedom Unlimited, but getting this card will put you over 5/24, so you're applying for the Chase card first?

rated:
meade18 said:   What does getting a Chase Freedom Unlimited have to do with getting this card? Do you mean that you want a Chase Freedom Unlimited, but getting this card will put you over 5/24, so you're applying for the Chase card first?
  yes, that's right.

We have a his and hers CSR now. Will cancel hers before 1 year fee comes up. Will keep mine, add a CFU, get an authorized user card for her, and make that combo our daily spender. After the CFU is approved, will apply for a his and hers Altitude, and use that for any daily spending that can be through an e-wallet.

rated:
psychtobe said:   
meade18 said:   What does getting a Chase Freedom Unlimited have to do with getting this card? Do you mean that you want a Chase Freedom Unlimited, but getting this card will put you over 5/24, so you're applying for the Chase card first?
  yes, that's right.

We have a his and hers CSR now. Will cancel hers before 1 year fee comes up. Will keep mine, add a CFU, get an authorized user card for her, and make that combo our daily spender. After the CFU is approved, will apply for a his and hers Altitude, and use that for any daily spending that can be through an e-wallet.

  
What is a CFU?
You are going to keep your CSR and pay the 2nd year's $450 annual fee (well $150 I guess if you maximize the $300 travel credit)?

rated:
Chase Freedom Unlimited = 1.5% on everyday spending, which comes to 2.25% with the 50% bonus granted by holding a CSR.

So the CFU/CSR combo gives us a minimum 2.25% on everything, and up to 4.5% on travel, etc.

Now the US Bank card will allow us 4.5% on e-wallet spending, but we'll see about any caps.

rated:
Definitely want to read the Wallaby link, it has some serious limiters. The Priority Pass is not unlimited, for one: "...first four visits and four individual accompanying guest visits are waived each Priority Pass Select membership year. Per person lounge visit fees will apply after free visits have been used."

3X travel is only direct charges by airlines/hotels/ect... not sites like Expedia or Priceline. Credit has the same restrictions -- it is NOT likely to be as generous as Chase.

Also, minor but an indication of who their audience is: they are using a smaller than Infinite limit of $5000. (if that works like it did for Citibank "World Mastercard Elite" there may be a "Signature" version of the card but with Infinite level perk package. (Citi AA Platinum Select issued World Elite cards to everyone over $10K line a few years ago, but lower limits still were just World -- but everyone got the same World Elite "benefits" package.)

So with the $75 difference after travel it seems to be aimed at their less affluent customers that just fly a few times a year. (mobile wallet goes with that)

rated:
Priority pass would have been a nice feature too. 

rated:
mysteryAgain said:   Priority pass would have been a nice feature too. 
According to DoC this does have "Priority Pass Select Membership. Limited to four visits and four guests visits each membership year."

rated:
I think the go go in flight internet makes up for the Priority Pass limitations, especially since I'll have the CSR anyway.

As I understand the credit limit, the $5000 is a minimum. Our CLs on cards are generally far higher than the minimums, so that doesn't worry me.

rated:
psychtobe said:   I think the go go in flight internet makes up for the Priority Pass limitations, especially since I'll have the CSR anyway.

As I understand the credit limit, the $5000 is a minimum. Our CLs on cards are generally far higher than the minimums, so that doesn't worry me.

  
Agreed, I hate paying for go go inflight wifi and this would be worth it for me.  Not sure if I would keep after the first year but worth a try as I currently have the CSR and AMEX Plat.

rated:
One year fee? I got hit with the AF after the 1st month. 
 

rated:
https://www.americanbanker.com/news/us-bank-ties-perks-of-high-e...

In this article, the president of retail payment solutions for U.S. Bank describes this card as more of a 'cross-selling' item. If you don't already have an account with US Bank, it could take up to 35 days after you open one to become eligible for the account.

Lucky me, I have a mortgage with US Bank so I'm good to go.

I'd still like to see how they plan to cap rewards attached mobile payments. I don't use any service now, but wouldn't I just put all my daily spending through that to earn the rewards on everything?

rated:
soo many credit deals lately ... and so little time ....

rated:
prozario said:   soo many credit deals lately ... and so little time ....
and so little MS opportunities.......

rated:
US Bank confirms no cap on ewallet purchases.

This is interesting.

https://thepointsguy.com/2017/04/us-bank-altitude-reserve-card-q...

rated:

rated:
psychtobe said:   card is live today

http://mycard.usbank.com/credit/teamsite/html/altitude_reserve.h...

  
Wow, are they expecting only people in the know are applying for this card? All the text on that page and I don't see anything mentioning an annual fee of $400. You have to click apply now and look at the terms and conditions to see it. 

rated:
Applied and approved.

rated:
Logged into my US Bank account and applied and was instantly approved, but on the subsequent balance transfer info page, I clicked the Complete Application button (without transferring any balances), and I got an error page, so I have no idea if the application actually went through. I guess I'll have to call them to sort it out.

rated:
peterlin said:   Logged into my US Bank account and applied and was instantly approved, but on the subsequent balance transfer info page, I clicked the Complete Application button (without transferring any balances), and I got an error page, so I have no idea if the application actually went through. I guess I'll have to call them to sort it out.
  
My online login already shows the new card so maybe you check for that.

rated:
b534202 said:   My online login already shows the new card so maybe you check for that.

My accounts page doesn't show a new card. How long did it take for yours to show up?

Update: I called the underwriting department, and the rep said my application was actually completed and that the card will be delivered in 2 days via UPS, not the 7 to 10 days that the website shows.

Update 2: The card benefits seem decent at first glance, but after speaking to an Altitude rep, it seems like such a hassle to earn the bonus travel points and redeem the points.  You only get the bonus travel points when booking directly with the airline or hotel and not when using Expedia or any other travel agency.  This can make it hard to earn the bonus points when you have a very complicated itinerary.  When redeeming the points, in order to get the 1.5x conversion rate, you have to book the travel using their phone or online system.  And if your travel ends up costing more than the points you have, you don't even get the bonus points on the extra amount you are spending, because you didn't book directly with an airline!

rated:
The card showed up right afterwards for me, but it looks like you got it all taken cared.

rated:
Definitely only for cross-sell:

"The U.S. Bank Altitude Reserve Visa InfiniteŽ Card is offered to U.S. Bank customers who have an eligible consumer U.S. Bank account relationship open a minimum of 35 days prior to submitting an application. An eligible U.S. Bank account relationship is defined as: Checking or Savings account, Certificate of Deposit, Mortgage, Home Equity Loan, Home Equity Line of Credit, Auto/Boat/RV Loan, Personal Loans and Lines, Private Banking account or Consumer Credit Card issued by U.S. Bank."

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