US Bank Altitude Reserve Credit Card: Negative Changes Are Now Live, Transfer Partners Still Not Available

As of December 15, the negative changes have taken effect. However, transfer partners still have not been announced, and the feature is still not live.

Coming Soon: Points Transfer Feature We’re finalizing this key feature—soon you’ll be able to transfer points to many great airline and hotel loyalty programs.

Let’s first look at what improved:

• Bookings through US Bank Travel now earn 10x points on hotels and 5x points on airfare (similar to the current Sapphire Reserve and Strata Elite)
• [Not live yet] Points can be transferred to airline miles and hotel points! It’s finally coming; now it depends on which airline and hotel partners US Bank can line up. US Bank does not seem to have many co-branded cards with major airlines or hotel chains, so UA, AA, and Delta are probably unlikely.
• There is a 5% discount when redeeming points for gift cards (not very useful)

Now let’s look at what got worse. In my opinion, these are major hits. This card has basically lost all of its unique advantages, and now it blends in with the crowd.

• The 3x points on mobile wallet purchases now has a cap. Only the first $5,000 per billing cycle earns 3x, which you can roughly think of as $5,000 per month. For normal usage, that is probably enough. And with a cap in place, there is less concern about the card being shut down for heavy 3x usage.
• The $325 travel and dining credit has changed and now must be used through US Bank Travel (existing cardholders needed to use it up before December 14). This is a very bad change. Before, you could book outside the portal; now they are forcing usage in-house, and it probably also means you can no longer game it through refunds.
• The redemption rate for points was heavily devalued. Previously, points redeemed toward travel purchases were worth 1:1.5. After December 15, it became 1:1, which basically kills this feature.
• Real-Time Rewards was directly reduced to 1:1. It’s basically dead.

Also, while browsing the rewards center, I found that US Bank points can be transferred to another person unconditionally (similar to Capital One). So once point transfers go live, this should make buying and selling points much easier.

This card has already been removed from the official website, so you can no longer apply for it directly. However, based on reader reports, it is still possible to product change from another US Bank card into this one. If you are interested, call sooner rather than later.

US bank just (midday Monday 11/11/24) permitted me to upgrade Altitude Go to Reserve. No questions / no issues. As soon as I asked. While application online was already unavailable.

US Bank Altitude Reserve Credit Card Review

Highlights

• $325 travel credit: You get up to $325 in travel statement credits each cardmember year, not calendar year. It can now only be used through the US Bank Travel portal.
• Bonus points through US Bank Travel: Earn 10x points on hotels and 5x points on airfare booked through US Bank Travel.
• 3x points on mobile wallet purchases: After the changes, only the first $5,000 per billing cycle earns 3x points. Mobile wallet here refers to Apple Pay, Android Pay, and Samsung Pay. This category used to be incredibly strong because these payment methods could be used in-store for almost anything, including gift cards, effectively making almost all purchases earn 3x points. Note that the 3x points only applied to in app purchases and NFC transactions. For example, Samsung Pay earned 3x whether used in app or in store (including MST magnetic stripe simulation). Plastiq payments, although they posted as 01night (similar to hotel stays), did not earn 3x points.
• Priority Pass Select membership: You get 8 visits per year total, counting both the cardholder and guests separately. There is also one very practical quirk with the Priority Pass benefit on this card: when registering the included Priority Pass membership, you can enter any name and address; it is not locked to the primary cardholder. So if you already have a PP card, you can instead register this one under a family member’s or friend’s name and let them use the benefit.

• Metal card: Still has some premium appeal.
• Other benefits: TSA PreCheck or Global Entry credit, Black car and rental car service

Altitude Rewards Points System

How to Use Points:

• Offset the annual fee: 35,000 points can offset the $400 annual fee on the primary card
• Now, redeeming points toward travel purchases via Real-Time Mobile Rewards (RTMR) has been reduced to 1:1 after the changes, so this is basically dead
• Redeeming points toward travel purchases through US Bank Travel has also been reduced to 1:1 after the changes, so this is basically dead
• Points apparently can be transferred to another Altitude card

Unboxing Photos

First, here are the unboxing photos. I will gradually add more thoughts on using this credit card.

Activation

You need to call the number on the back of the card to activate it. It seems to route to a dedicated Reserve line, and someone answered within seconds. When adding the card to Samsung Pay on a Samsung phone, I was prompted to call in for activation. After the call connected, the representative verified some information and activated it. According to the representative, phone verification is the only way to activate mobile payment.

Some Application Data Points

[DP1] Based on reader alex’s experience, the Fidelity card may not count. He called 5+ times after applying and even escalated to a manager, and they all said the Fidelity card was not considered a US Bank card, so it could not be used to approve his application. Yet in the successful example below, the card had already been mailed out. So this is clearly YMMV and needs more examples to confirm. If you know of similar data points, feel free to leave a comment.

[DP2] Finally confirmed: users who had the old Fidelity 2% credit card forcibly transferred to US Bank also qualify to apply for this Altitude card. Here is a reader’s firsthand experience: the application was instantly denied at first, with no hard pull. Then he called and customer service said Fidelity counted, so the application was sent to manual review, triggering a Hardpull. He called the next day to check the status and was denied. He called again, and that representative said the card did not count. Still unwilling to give up, he called once more, and another representative submitted it for manual review again. On the third day, he called back and was approved. My personal impression is that US Bank employees themselves had not fully sorted this out, so trying a few more times may help.

According to DOC and data points in the comments, you no longer need an existing US Bank relationship to apply for this card. In other words, you do not need to already have a checking account, savings account, or credit card with US Bank to apply directly anymore, whereas that used to be required. However, according to this DP, you may still be declined and need to call for reconsideration manually. So if you are applying without a relationship, make sure to call reconsideration and do not waste the HP. That said, since US Bank can be a bit picky, having a checking account may still make approval easier.

Application

• The minimum approved credit limit on this card is $5,000. It is recommended for applicants with at least one year of credit history and some income.
• If you have a business relation with US Bank, such as a business checking account or credit card, you also need to apply in branch, where a banker can call to explain the situation.
• According to DOC, the terms on this card changed slightly: you can now apply again every five years and earn the welcome bonus again (it used to be once per lifetime). This is calculated based on when you received the welcome bonus, so if you are trying to time it precisely, it is best to check the exact month when the bonus posted. Existing or previous US Bank Altitude Reserve Visa Infinite cardmembers are not eligible if you have received a new account bonus for this product in the last five years.

• US Bank application status check link. Or call: 800-947-1444
• When you apply, US Bank may check the two smaller credit bureaus SageStream & ARS credit reports, so you may consider freezing them before applying
• You can only earn the welcome bonus on the same US Bank credit card once
• You can call the reconsideration line (800-947-1444) to speed up the credit card approval process or to have a denied application reviewed again.
• US Bank is relatively sensitive to HPs and new accounts. Having a US Bank Checking account can help with getting approved for a credit card
• More about applying for US Bank credit cards

Application Link

• US Bank Altitude Reserve (applications suspended)