At face value many people out there may take a look at my wallet or see my ever-growing pile of credit cards and think I’m crazy. Don’t get me wrong I am, but there is a method to the madness. Each card in my wallet serves a purpose. If the card no longer serves me I either close the card, downgrade the card, or convert the card to something worthwhile. Recently I downgraded my Citi Prestige card to the Citi ThankYou Premier card. It’s not that the Citi Prestige card is not amazing (I still think it is), it’s just that particular card became redundant. Many of the benefits offered by the Citi Prestige card are offered by other cards I currently carry so I decided to downgrade.
Introducing (Maybe) The US Bank Altitude Reserve Card
Much like this past years rumors of the Chase Sapphire Reserve card, the rumors for the US Bank Altitude Reserve card continue to become more solid. Several weeks back someone on Reddit discovered US Bank filed a trademark for the Altitude Reserve product name. Then weeks later, initial rumors on the benefits of the card started to leak. Ultimately all of the rumors came to a head today when ThePointsGuy published an article all but confirming the card and benefits.
Rumored US Bank Altitude Reserve Benefits
The key takeaway from the US Bank Altitude Reserve card is the rumored 3X Points on ALL Mobile Transactions. This apparently includes Apple Pay, Samsung Pay, etc. Obviously this category alone represents huge bonus points earning potential as more and more merchants accept mobile payments. If true (it basically is confirmed) this card would be a great addition to any wallet because it represents such unique opportunities to earn bonus points.
Additional rumored benefits include:
- 3X Points On Travel (excluding online travel agencies)
- $325 In Automatic Travel Credits
- 12 Complimentary GoGo Wifi Passes
- Apparently you can use points for NetJets?
- A very limited Priority Pass membership (4X Visits A Year)
- $100 Toward Global Entry / TSA PreCheck
- Visa Infinite Benefits
My Take On The US Bank Altitude Reserve Benefits
First of all, we’re still not sure what type of points this card is going to earn. If the card earns FlexPoints it means you are essentially earning cash back. There are some rumors that the card is going to also introduce a new points currency which could be interesting. With that we run into my first issue with the card. Sure you may earn a ton of points using mobile payments, but they may not be worth much.
Assuming the card carries the rumored $400 annual fee, the $325 in travel credits drop the effective annual fee to just $75. Not too bad, but again what are you really getting for that price? If you have no other “Premium” credit cards in your wallet like the Chase Sapphire Reserve, Citi Prestige, or American Express Platinum card then these are fantastic benefits. If you do however, then there is simply a TON of redundancy.
Final Thoughts
Admittedly it’s late and I’m cranky, but I just don’t see any real value in carrying the US Bank Altitude Reserve card given the current rumors. Of course at this point these are just rumors and there have been no official releases from US Bank, but when ThePointsGuy published an article and does a 30+ minute Facebook live discussion you better believe the rumors are credible.
I just think overall US Bank is late to the game and wants a piece of the action. Clearly they are after the millennial market by offering 3X Points on all mobile payments. I’m just not sure anyone is going to bite. I feel like the Chase Sapphire Reserve was finally the card that got the general public interested in credit cards. So many people have them it’s honestly insane. The thing is, I don’t know many people who after opening the Sapphire Reserve even considered getting a second card. The CSR is their daily driver, the bread and butter of their wallet, there’s no reason to get anything else! Those who did get the CSR now have basically all of the rumored benefits offered by the US Bank Altitude Reserve card.
Short Answer
Sorry, it’s late, but I don’t see myself getting this card as rumored today. I already carry the Amex Platinum and Chase Sapphire Reserve cards which satisfy my needs. I’m interested to see what point currency the US Bank Altitude Reserve card earns and may reconsider if the card earns FlexPoints. FlexPoints can be valuable if used properly. At the moment though, I don’t see myself applying for this or any other cards on the market for at least a few months. That could change though…
Oh also, I bet the design of the card is going to be terrible. I don’t think a leaked picture exists, but my guess is that US Bank rushed this card out way too quickly and did a terrible job designing it.
