Exciting new premium card: US Bank Altitude Reserve

[Anonymous]

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@14Fiesta wrote:

I'm going to go back and look at my sources again (will update THIS post when I do), but I believe that this new card is going to be for Private Clients only (when I was briefed on it, the words "million dollar credit limits" were used to describe the card). Having said that I will reiterate that I need to look over my sources again to ensure if memory serves me right. 

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Yes please update. There was a line in most of the rumor blog posts that this is for "current U.S. Bank customers" only, which I thought was a weird requirement. Very disappointing if this is private client only...but then again, this is U.S. Bank we're talking about so not too surprising lol

[CreditMagic7]

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@AverageJoesCredit wrote:
Uh oh, if CM7 is reading, i smell FOTM all over this

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Pass.

I operate at a different pace anymore but it's truly nice to see this one from US Bank.

[14Fiesta]

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@heyryan wrote:

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@Anonymous wrote:

No lounge access. Womp womp.

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I'll be curious to see when it comes out if it does or not. The first couple of sites I read didn't list that, but then a couple did say Priority Pass membership. If they don't, they're not a very strong competitor to CSR, Amex Plat, etc.

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It will have 1 year of complementary PP select for sure, however information is currently vague whether or not it's just 1 year of complimentary (and you have to pay thereafter,) or it renews in 1 year intervals and is complimentary. Hopefully US Bank can get that cleared up closer to launch.

Also for anyone interested I updated my post a few posts back concerning if the card is "restricted" to Private Clients. 

[Anonymous]

Thanks for updating, 14Fiesta. Very glad this will be open to most of the general public! Now let's hope that the major details are accurate and then that the pesky conservative US Bank algorithm will let me through

[Anonymous]

Other postings (Flyer Talk, Wallaby, Hotels Frequent Miler) mention Priority Pass Limited Lounges with two guests. Annual Fee $400 for the masses and Private Banking Clients $299. 3X points on travel purchases, 3X points on mobile wallet purchases. The Frequent Miler website has a comparison between the Chase Sapphire Reserve and the US Bank Altitude Reserve Infinite Visas.

[Anonymous]

Love USBank.
For those who have low limits-open a Checking and Savings. It is free for the gold package since you have a CC... no mins or fees.
Once you have a relationship with them they go from (starting limit of $500 on a Cash+) to (5k Reserve Line, $15k Premier Line, and 2 CLIs on my Cash+ card) in less than 9 months.

Love This bank!

[Anonymous]

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@Anonymous wrote:
Love USBank.
For those who have low limits-open a Checking and Savings. It is free for the gold package since you have a CC... no mins or fees.
Once you have a relationship with them they go from (starting limit of $500 on a Cash+) to (5k Reserve Line, $15k Premier Line, and 2 CLIs on my Cash+ card) in less than 9 months.

Love This bank!

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I want and know to do this but I'm so far down the churning rabbit hole that the thought of opening up a checking account without a bonus offer makes me choke on my cereal hehehehehehe. So I'll be getting a gold account when they offer their bonus offers!

[Anonymous]

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@Anonymous wrote:
I want and know to do this but I'm so far down the churning rabbit hole that the thought of opening up a checking account without a bonus offer makes me choke on my cereal hehehehehehe. So I'll be getting a gold account when they offer their bonus offers!

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US Bank does offer incentives (sign up bonuses) for their checking account products from time to time. The US Bank Gold Checking is a good product and I speak with experience on this one.

[Mattopotamus]

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@14Fiesta wrote:

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@heyryan wrote:

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@Anonymous wrote:

No lounge access. Womp womp.

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I'll be curious to see when it comes out if it does or not. The first couple of sites I read didn't list that, but then a couple did say Priority Pass membership. If they don't, they're not a very strong competitor to CSR, Amex Plat, etc.

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It will have 1 year of complementary PP select for sure, however information is currently vague whether or not it's just 1 year of complimentary (and you have to pay thereafter,) or it renews in 1 year intervals and is complimentary. Hopefully US Bank can get that cleared up closer to launch.

Also for anyone interested I updated my post a few posts back concerning if the card is "restricted" to Private Clients. 

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being nerfed is definitley a concern for me.  I use amex plat now and the Priority Pass membership alone covers the annual fee.  

[yfan]

At first glance, this card looks really attractive. The real barrier, imo, is the fact that you have to be an existing US Bank customer to even apply, however. To do this without paying a fee, the requirement at minimum is to either tie up $1500 or put a $1000 direct deposit every month. Featurewise, the bank accounts are lackluster at USB, and fees when they have to be paid are higher.

I'm not willing to tie up money in a bank account just to get a credit card, no matter how good it looks.