Update: Earn 3X Points on Almost Anything With This New Card!

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Update:  Earn 3X Points on Almost Anything With This New Card!

Million Mile SecretsUpdate:  Earn 3X Points on Almost Anything With This New Card!Million Mile Secrets Team

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Last week I shared a rumor about new valuable US Bank card, the US Bank Altitude Reserve.

And now we have new details about the card!  Some are a bit disappointing, but some are really exciting!

For example, the $325 annual travel credit is per cardmember year, NOT calendar year.  So you won’t be able to get it twice before the second annual fee is due.

But getting approved for the card might be easier than we first thought!  I’ll explain.

Update Earn 3X Points On Almost Anything With This New Card
Earn 4.5% Back on Nearly All Purchases With This Upcoming Card!

Here’s what you can expect from the upcoming US Bank Altitude Reserve!

More Details About the US Bank Altitude

Link:   Reddit

Thanks to reader IAD Gr8 for pointing us toward more details of the US Bank Altitude Reserve!

Several days ago, I mentioned some great benefits of this unreleased card.  But now we have a few more details to add to the list!  Here’s what we know will come with the US Bank Altitude Reserve:

  • 50,000 points (worth $750 in travel!) after spending $4,500 on qualifying purchases within 90 days of account opening
  • $325 travel credit every cardmember year (you can NOT get it twice before the second annual fee is due)
  • 3X points on travel purchases
  • 3X points on mobile wallet purchases (like Apple Pay or Samsung Pay)
  • 1X points on all other purchases
  • Limited access to Priority Pass Select lounges (4 free entries per year for you and 1 guest)
  • 12 free Gogo in-flight Wi-Fi passes per year
  • Global Entry fee credit
  • Visa Infinite benefits
Update Earn 3X Points On Almost Anything With This New Card
The Annual $325 Travel Credit Will Reimburse You for Things Like Hotels, Airfare, or Even Public Transportation

The card also comes with a $400 annual fee, NOT waived the first year.  But with the $325 annual travel credit, you can effectively bring that annual fee down to $75 per year as long as you normally spend $325 per year on travel.

Is This a Good Deal?

There are upsides and downsides in these new details.  I’ll explain what it means for you!

1.   US Bank Points Value

Link:   US Bank FlexPoints

The points you earn with the US Bank Altitude Reserve card are NOT US Bank FlexPoints.  They are worth a fixed amount of 1.5 cents per point towards travel, similar to points you earn with the Barclaycard Arrival Plus World Elite Mastercard.

These points do NOT transfer to travel partners.

Note:   You must redeem at least 1,000 points at a time.

2.   3X Points for Mobile Wallet Purchases

The fact that you can get 3X points by using your US Bank Altitude Reserve through mobile payment is incredible.  That’s because more and more merchants now accept some kind of mobile payment.

You can use either Android Pay, Apple Pay, Microsoft Wallet, or Samsung Pay in many physical merchant locations, like grocery stores, gas stations, and sports arenas.  Or for services that aren’t normally included in bonus spending categories, like doctors and dentists.

Update Earn 3X Points On Almost Anything With This New Card
Even Places Like Doctor’s Offices Are Starting to Accept Mobile Payment!

So lots of folks can earn 3X points for nearly ALL their purchases!  And because the points this card earns are worth 1.5 cents each towards travel, that’s like getting 4.5% back (3X points x 1.5 cents per point)!

2.   Approval Odds

I mentioned before that you must already have a relationship with US Bank to be approved for this card.  I called US Bank, and they said any product folks have with them (auto loan, checking account, credit card), counts as a relationship.  So if you have a US Bank credit card, you have a relationship with US Bank, and are eligible for this card!

Lots of folks might already have the US Bank Club Carlson card from back when it was really valuable.  If you’ve since cancelled the card, US Bank probably won’t consider you to have a relationship with them.  Although one agent told me it’s possible, if you cancelled the card fairly recently.

And if you do NOT have any relationship with US Bank, you can still apply in-branch for the card starting May 2, 2017.  And I’ll let you know when the online application is available!

Note:   US Bank is still picky about approving folks for their cards.  And they are known for pulling credit scores from unconventional credit bureaus!  Here’s how you can improve your approval odds by freezing your credit from these bureaus.

Bottom Line

The US Bank Altitude Reserve will be a valuable card.  Especially because you can potentially earn 3X points with nearly every $1 you spend!  Plus, it has other great benefits, like a $325 annual travel credit, Gogo in-flight Wi-Fi passes, and much more to help offset the $400 annual fee.

If you’re new to this hobby, I’d suggest applying for the Chase cards you want first.  That way you aren’t restricted by Chase’s approval rules.  If you can’t apply for Chase cards for a while, this card is a no-brainer!

Do you plan to apply for this card?

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Chase Sapphire Preferred® Card

Chase Sapphire Preferred® Card

  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
  • Chase Sapphire Preferred® named a 'Best Travel Credit Card' by MONEY® Magazine, 2016-2017
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards

More Info

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Any update on the value and redemption options of the new Altitude Points? If this could be redeemed through any travel site (and not just through US Bank’s site), this could be a game changer.

Only one total credit amount of up to $325 per Cardmember year per — Does this mean only single and FIRST travel eligible transaction of $325 or more will be eligible for credit? If so, we can not do test transactions to see the eligibility of specific topics transactions.

I’m not very good at figuring the points/spending part out. It says that you “must redeem a 1000 points at a time”, so how much money wise would this be equal to? Can you do partial payment on a charge or does it have to be the whole charge?

When is this card available? I’m in MN, a US Bank stronghold. I’m thinking about going to a local branch and finding out more.

May 1 is the official launch!

Rumor has it that although it is a Visa Infinite card, you won’t get the unlimited $100 companion fare credit.

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