I recently applied for the US Bank Altitude Reserve Credit Card. Instead of an approval, my application went pending and was told I would receive a notice within 7-10 days. Rather than wait, I called the underwriting department the next day. After answering a couple of questions, I was approved! As a current banking customer with US Bank, I was excited to expand my relationship with them. Because the miles I will earn are so valuable, the Altitude card is now taking the place of my Costco Anytime Visa Card! I’ll explain why I did this in my review of the card.
To see the latest credit card offers, please visit our marketplace.
US Bank Altitude Reserve Credit Card Review
The US Bank Altitude Reserve Credit Card is a great card for those looking to earn travel rewards without the usual hassle.
The US Bank Altitude Reserve Credit Card currently has a 50,000 bonus point offer after spending $4,500 in the first 3 months. Since the points have a fixed value of 1.5 cents each when redeeming for travel, these points alone are worth $750. This is beneficial as it takes the question out of what the points are worth.
Along with the healthy signup bonus, the categories are some of the easiest to earn even more on! Cardholders earn 3x points per dollar on travel purchases and mobile wallet purchases. That means that you can spend on any product at any store to earn 3x as long as they accept mobile wallet for payment. With the fixed value of 1.5 cents per point, you are earning 4.5 cents per dollar in points on these purchases! That is an incredible value!
- 5 places to maximize points on your US Bank Altitude Reserve Card
- 17 hidden benefits of the American Express Platinum Card
- Global Entry vs. TSA PreCheck vs. CLEAR. Which is right for you?
US Bank Altitude Reserve Annual Fee
It’s not all sunshine and rainbows. The US Bank Altitude Reserve is a premium credit card with a $400 annual fee. But don’t fret, you can make that back easily!
Most premium credit cards have high annual fees like the American Express Platinum Card. And many make it difficult to earn the annual fee back.
The US Bank Altitude Reserve Credit Card has a $400 annual fee. However, you’ll receive a $325 annual credit towards travel! If you are even a semi-regular traveler, this is easy to spend over an entire year. According to US Bank, travel is defined as “such as purchases made directly with airlines, hotels, car rentals, taxicabs, limousines, passenger trains, and cruise line companies”.
Once you accomplish that spending, the annual fee nets out to $75!
Along with this, the card comes with perks like…
- 12 complimentary GoGo in-flight WiFi passes per year.
- Complimentary 12-month Priority Pass Select Membership.
- TSA PreCheck/Global Entry $100 statement credit every 4 years.
- GroundLink Black Car Service discounts
- SilverCar discounts
US Bank Altitude Reserve – The Unique Rule
However, there is one large caveat to apply for this card. You must have a relationship with US Bank if you want to get approved.
This can be done in a number of ways. My wife and I currently have a checking & savings account with them. Here are the other ways you can establish a relationship with US Bank.
- Checking & savings
- Another credit card
- Auto Loans
- Investment relationships
- Certificate of Deposit
Be sure to give time from establishing a relationship to applying for this card. It can take anywhere from 5-35 days.
US Bank Altitude Reserve – Card Delivery
Premium credit card issuers tend to deliver your card in a luxury manner. Once I was approved, the card was expedited and arrived about 3 days later.
When I opened the package, I was welcomed with a well-designed box.
It came with the basic terms & conditions paperwork and some info about the perks of the card.
The coolest part is that the gray booklet you see above is essentially a ‘how to’ guide on how to earn and redeem points & perks. I find this extremely helpful instead of searching online for an answer.
Overall, well done by US Bank.
US Bank Altitude Reserve Card – Why I’m Getting Rid of My Costco Anytime Card
The Costco Anytime Card with no annual fee has been a staple in my wallet. When it was introduced, I was in the need of a cash back card as my finances were pretty strapped. Now, my finances are much more flexible and earning points is much more valuable to me.
Since Costco accepts mobile wallet payments, my Costco card now lives in my sock drawer. I use my Google Pixel 3 Phone to pay with my US Bank Altitude Reserve Card to earn 3x points per dollar. With a value of up to 1.5 cents per point, that equates to 4.5 cents per dollar spent. This trumps the 4% cash back on gas, 3% on dining and eligible travel, and 2% at Costco with the Costco Visa card.
There is one wrinkle to my new strategy. When I want to purchase gas at Costco, I have to go inside and purchase a gift card because the gas pumps do not take mobile payment yet.
The Bald Thoughts
This US Bank Altitude Reserve Card is definitely one to save in your wallet, especially if you are a Costco shopper. Earning 4.5 cents in fixed value with US Bank is a huge value that is hard to beat.
You can learn more about this card and apply in our credit card marketplace.
What is your go-to card for everyday spend? Do you use mobile payments instead of carrying around extra credit cards? Let us know in the comments below!