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Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

Looking For A New Bank? Over 5/24? This US Bank Combo Is A No-Brainer!

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Looking For A New Bank? Over 5/24? This US Bank Combo Is A No-Brainer!

Brett HolzhauerLooking For A New Bank? Over 5/24? This US Bank Combo Is A No-Brainer!Million Mile Secrets Team

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US Bank is currently offering great deals, whether you’re in the market for a new bank account or a new credit card.  If you’re over 5/24 and in the hunt for the next credit card offer to earn scads of points, this US Bank combo might just be perfect for you!

My wife dragged me over to US Bank about two years ago for a normal checking account, and I couldn’t be happier with their service.  And now I’ve got a shiny new points powerhouse, the U.S. Bank Altitude™ Reserve Visa Infinite® Card.

US Bank wants your business – take advantage of their incentives!

The US Bank 1-2 Punch – 63,500 Miles and Up To $300 Cash!

I just recently opened the US Bank Altitude Reserve card, which comes with 50,000 points after spending $4,500 in the first 90 days.

An almost unbelievable benefit of the card is that you’ll earn 3 points per $1 on eligible travel purchases and mobile wallet purchases (like Samsung Pay or Apple Pay).

I plan to complete that minimum spending entirely through mobile payment.  So by the time I finish my spending, I’ll have 63,500 points (50,000 point sign-up bonus + 13,500 more points from meeting the spending requirement).

The convenient part about the points value with US Bank is that they have a fixed value of 1.5 cents per points.  So with each mobile wallet or travel purchase, you will earn 4.5 cents per $1 in point value!  The 63,500 points I’ll earn are worth roughly $950!  With the large increase in stores accepting mobile wallet payment, I should have no trouble achieving this goal.

The largest change this has caused in my strategy is now I will no longer be using my Costco Anywhere Visa Card at Costco.  While the Costco Anywhere card does offer great cash back categories. like 4% cash back on gas and 3% on travel and restaurants, I’m now earning 4.5% of value in points.  This is just part of my breakup with cash back cards and moving towards points & miles cards.

The US Bank Altitude Reserve card does have a $400 annual fee, but it also comes with a $325 annual travel credit.  If you are able to use that each year (it’s effortless), your annual fee is essentially $75.

To make up that remaining $75, the card also comes with:

  • Up to $100 statement credit for TSA PreCheck or Global Entry
  • Special discounts on Silvercar
  • Complimentary 12-month Priority Pass Select membership, which includes 4 free lounge visits per year for you and 1 guest.

Check out our full review of the US Bank Altitude Reserve here.

Before applying for this card, you do need to have an established relationship with US Bank (it can be another US Bank credit card).  If you’re looking for a new bank, here’s an easy way to establish that relationship with Us Bank, and receive a $300 bonus to boot!

US Bank Checking Account Promotion

Banks are always fighting for our business.  We regularly see bonus cash promotions for opening a checking or savings account, and I’m always on the prowl for them.

US Bank is currently offering a $300 bonus to those who open a Platinum Checking Package (through March 18, 2019), and complete the following activities:

  • Open your account with at least a $25 deposit.
  • Complete recurring direct deposits that total $2,000 within the first 60 days of account opening.

However, be warned that the Platinum Checking Package does come with a $24.95 monthly fee unless one of two conditions apply.

  • You’ve got $25,000 in combined personal deposits, credit balances, and/or investments
  • You’ve got a personal trust relationship with US Bank Wealth Management

Personally, I would take advantage of this offer, and once the bonus has deposited, transition to a lower monthly fee checking account.  I have the “Easy” Checking Account with my wife, and we pay no fees with our qualifying direct deposits.

Bottom Line

If you were to go for this 1-2 punch of the US Bank Altitude Reserve and $300 banking bonus, you could earn over $1,200 in combined cash and points value after meeting minimum spend requirements!  So if you are on the hunt for a new card & a new bank, I would highly recommend taking this approach.

Let me know what you think about this power combo!  And if you want to stay on top of other miles & points deals, then subscribe to our newsletter:

The information for the Costco Anywhere Visa® has been collected independently by Million Mile Secrets. The card details on this page have not been reviewed or provided by the card issuer.

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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I’ve got the new Altitude and I love it. USBank is offering great customer service so far. The concierge program will find info about restaurants, etc that I don’t have the patience for. I can use Google pay at more and more places, including Costco and it’s honestly faster than swiping a card once you are familiar and the tech is working right. Virtually immediate. A receipt on my phone before I have picked up my merchandise and headed away from the counter. I foresee using this card more and more.

RealTime rewards is amazingly convenient but only values the points at 1 cent each. Please let me know if I have that wrong.

Woohoo! Awesome, glad to hear the Altitude is working out well for you!

As far as Real-Time rewards, you should still be able to get 1.5 cents in value for eligible travel purchases.

Another big plus for US Bank is “real time rewards” – you can get an instant statement credit for travel purchases. I use this to pay for Uber/Lyft and Southwest, which are not available on the Chase, Citi, or Amex online portals.

That’s another really good point, thanks for sharing this!

Every year on your renewal date and within about two months of your initial sign up, be on the lookout for an email that allows you to trade 25,000 points to waive your annual fee, as well as the annual fee for as many additional cards you would like (normally $75 each). It’s a steep price in your new point stash but worth $450, and in my case $525.

Maybe, but why would you forfeit 50% of the value of your points? I try to never surrender points at a 1:1 ratio if I know that I can cash out for more money by doing something else. The exception would be a 5%, or some kind of trivial, bump on gift card redemption which I know I didn’t need. meh, cash is still king.

If the annual fee is $400 and the annual fee is waived by using 25,000 points that’s a 1:1.7 ratio. If you have an additional authorized user then that bumps it up to 1:2.1

Does gas count as travel on this card? Is that how you are getting iver 4 percent back at costgo?

Author
Brett Holzhauer

Thanks for reading Ryan!

I’m able to get 4.5% back in value by going inside Costco first, and purchasing a gift card using my Google Pay. This trumps the 4% cash back the Costco Visa would give me.

Gas isn’t a travel category. Hotel and air are.

For the 3% points, which is really worth 4.5% if you can get the points to convert at 1.5:1 (need this better clarified), the author stated that the mobile pay category, accepted at costco, is being utilized.

Thank you for the great article. This appears to be a better deal getting 4.5% for mobile wallet purchases, versus using the Chase freedom Unlimited card and transferring to the Chase Sapphire Reserve card for 2.25%, for non-bonus category purchases. I’m I missing something? Thanks