That gold mine of credit card leaks that is Doctor of Credit, a few days ago uploaded a small article entitled: US Bank Altitude Reserve Will Stop Accepting Applications on November 30. The article is so short I will read it out to you.
A reliable source tells of a memo which went out today indicating that effective Nov 30, 2020 no new applications will be accepted on the U.S. Bank Altitude Reserve card. Possibly a temporary move, but we didn’t get any information on that.
So naturally I was curious, I first checked the US Bank website yesterday morning and it was still there, but when I checked in the evening it was indeed gone. You can find a link to the old application page through google, but when you click in, you get error 404. I searched through their site to see if I could find it another way and it is indeed not there. It is funny there is this thing to click to open up a load of what I assume are co-branded cards and it is line oh my gosh what is this? Cheap graphic designer you hired?
Anyway, so we have confirmed DOC’s rumor was real and it is indeed not open to new applicants. Now I am going to tell you what I think might be happening here, but first just a little info about the Altitude Reserve itself. It is US Bank’s premium travel card. The annual fee is $400 but this is offset by a $325 travel credit that gets automatically credit to the account, very similar to the Chase Sapphire Reserve. Just a note for current card holders, that travel credit right now can be used for dining purchases, up until June 30 2021. And dining also temporarily earns 3x points per dollar until next year too.
The point earning on the card is really good
5X points on prepaid hotels and car rentals booked directly in the Altitude Rewards Center
3X points on travel (purchases made directly with airlines, hotels, car rental companies, taxis, limousines, passenger trains and cruise line companies)
3X points on mobile wallet purchases using Apple Pay®, Google Pay™, Samsung Pay and LG Pay®
1 point per $1 on all other eligible net purchases
So potentially you could be earning 3x points per dollar on almost all spend. Points are worth 1.5 cents when you redeem for travel through US Bank, but there are no transfer partners. But hey, 3x points per dollar through mobile wallet x 1.5 is 4.5% value back on all spending (if you use mobile wallet for every purchase) I think that is a solid rate.
The card also provides 4 free priority pass visits per year, with one free guest on each visit, but any visits after that, you have to pay for. But for an annual fee that low, you wouldn’t expect unlimited access.
Now there is one last thing to mention before we get into walking about what is going on here and that is that the card is available to US Bank customers only. Now don’t think that means you can’t get it, all you have to do is open a checking or savings account through US Bank and after it has been open for five days, you can apply.
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15 comments
The rewards section of my account showed a new vertical design for the Altitude Reserve (similar to the Go and Connect designs) for several days. Now back to the horizontal image 😄 Seems like their team is up to something!
I always assumed US Bank cards suck. 4.5% sounds decent, especially if they do end up adding new benefits as you speculated.
The altitude reserve was one of the most underrated travel cards hands down. 3x mobile payments (basically everything including gas, Costco, anything online with Google pay, or travel) = to 4.5x on any travel by signing up for (real time rewards). Yes 400 annual fee but EAF= 75 but wait, every year I call them and tell them Im going to cancel my card and I'm rewarded 10-15k points to keep it.. Yeah huge sleeper card, people never talked enough about it!
Dang… I haven't applied for any new cards in 6 months because this was going to be my next card. I hope they bring it back!!
Ugh I was going to get this card next year. It’s was on my list. Hope they bring it back
Any chance you could create "Rumor" videos where you discuss what could happen, that way we can jump on the offers before they close?
It's USBank (the worst bank ever), who cares?
4.5% on virtually everything wasn't sustainable to start with.
Bummer just went to us bank branch hoping I could grab it in branch. I was told it is no longer available. Great card hope they bring it back
My fiancé and I love this card, we use it whenever we can for mobile payments. It would be a shame if they got rid of the card. Hoping for a revamp!
Altitude trifecta would be awesome. Currently, points earned in the Altitude Go cannot be transferred to the Altitude Reserve portal for 1.5c pp redemption, which I thought was odd at the time. I’m excited.
This is an extremely under rated card!
You want an A.F. increase and decrease in the travel credit??? smdh for more priority pass access?. There're tons of cards with priority pass already. I rather the old AR with its effective $75 a.f. after the $325 travel credit.
I was approved last week, card arrived yesterday!
I’d love to apply for the U.S. Bank Altitude Reserve if they weren’t so sensitive to inquiries and recently opened accounts.