topic Re: Exciting new premium card: US Bank Altitude Reserve in Credit Cards

Exciting new premium card: US Bank Altitude Reserve

Anonymous — Tue, 11 Apr 2017 06:07:55 GMT

Confirmed rumors from last week: US Bank is entering the premium card market with the Altitude Reserve

https://www.walla.by/blog/159427366229/more-details-about-the-us-bank-altitude-reserve

Summary:

Available to US Bank customers on 5/1
Bonus of 50,000 points for $4,500 spend in 90 days ($750 value)
$400 AF, $325 travel credit (auto redemption)
3x on all mobile wallets, 3x travel, 1x other
Points worth 1.5 cpp redeemed in USB travel portal or 1 cpp cash back
No FTF
12 Gogo passes a year
Metallic card
Visa Infinite (details unclear)
Black car & rental car service (details unclear)
TSA PreCheck or Global Entry
NOT FlexPerks program, new program altogether

I'm very excited for this card. Big fan of being able to redeem cash equivalent travel instead of playing miles redemptions game. Knowing US Bank though, the portal will have some crappy prices here and there. Mobile wallet bonus is also very interesting, basically extends it to 4.5% on any merchant taking NFC. (Crazy!) Biggest fear is that the card isn't sustainable and will be nerfed in brutal US Bank style in the next couple of years. (Just like Cash+ was...) Gonna hit it while it's hot!

Thoughts?

Re: Exciting new premium card: US Bank Altitude Reserve

Anonymous — Wed, 19 Apr 2017 02:57:59 GMT

CreditSnortax nice catch!

Will look forward to tracking the happenings on this new US Bank Altitude Reserve Premium Visa Infinite Card!

Re: Exciting new premium card: US Bank Altitude Reserve

mjb59463 — Tue, 11 Apr 2017 07:50:15 GMT

Looks like a solid card.

If this is up your alley, jump in when it goes live and ride it out until USBank undoubtedly slashes the rewards/earnings/perks to bits.

Re: Exciting new premium card: US Bank Altitude Reserve

Anonymous — Tue, 11 Apr 2017 12:54:23 GMT

If it really works 3x with Samsung Pay, as the link says, that works almost everywhere (doesn't need NFC), making this very attractive

Re: Exciting new premium card: US Bank Altitude Reserve

AverageJoesCredit — Tue, 11 Apr 2017 13:18:35 GMT

Uh oh, if CM7 is reading, i smell FOTM all over this

Re: Exciting new premium card: US Bank Altitude Reserve

galahad15 — Tue, 11 Apr 2017 13:47:57 GMT

The card certainly looks very intriguing in terms of what it offers, but with the hefty $400 AF, for me IME, I personally wouldn't app for it, as the high AF would appear to place it in the same general category as the CSR and other similar cards.

Re: Exciting new premium card: US Bank Altitude Reserve

Anonymous — Tue, 11 Apr 2017 13:43:23 GMT

Seeing what they gave me with my Cash+, I doubt I could get this lol! Does US Bank let you PC?

Re: Exciting new premium card: US Bank Altitude Reserve

noobody — Tue, 11 Apr 2017 14:11:32 GMT

@Anonymous wrote:
Seeing what they gave me with my Cash+, I doubt I could get this lol! Does US Bank let you PC?

most likely you can PC in house card like cash+ to this one

If they have decent transfer partners, I would go for it

Just downgrade Club Carlson Premier (big nerf last year, surprise surprise) to regular no AF club Carlson card, may call to reduce unnecessary credit line to better my chance to get approval of this card.

Anyone know what is US bank's policy to reallocate credit line, SP, HP or can not be done?

Re: Exciting new premium card: US Bank Altitude Reserve

deltatee — Tue, 11 Apr 2017 15:07:16 GMT

Too bad it's US Bank. I am personally skeptical about their travel portal and doubt they will have any transfer partners, which would significantly undermine any potential value of this card. Hopefully I'm wrong though.

Re: Exciting new premium card: US Bank Altitude Reserve

Anonymous — Tue, 11 Apr 2017 15:13:17 GMT

This is probably a card that will get nerfed to pieces over time. As it currently stands, though, with the effective $75 AF after travel credit, this can be very lucrative given the mobile wallets bonus. Biggest hurdle is going to be approval. I don't think USB likes reallocating credit and is quite new accounts sensitive. If I get it though, this is going to be top of wallet until it gets nerfed.

Re: Exciting new premium card: US Bank Altitude Reserve

Creditplz — Tue, 11 Apr 2017 15:27:29 GMT

Given that it's US Bank if this is the FOTM for May I'll be sitting this one out🙄

Re: Exciting new premium card: US Bank Altitude Reserve

noobody — Tue, 11 Apr 2017 16:29:21 GMT

About US bank.
They give me very good SL, on both of my credit cards accounts. Without prior relationship before cash+ approval.
Keep sending me 4.5k SP cli offers on both of my accounts, when i ignore it, they offer small incentive to "force" me take the CLI.
They partial refund my Club Carlson premier AF, even they dont have to.
But the nerfthon on cash+ is historical bad, on club Carlson premier is also huge.
Transfer partner is the key issue for me, in or out.
If you have to use their portal to maximize return, i would definitely pass.

Re: Exciting new premium card: US Bank Altitude Reserve

Creditplz — Tue, 11 Apr 2017 16:32:13 GMT

That's not the US bank many of us around here know 😂, I was stuck at $1000 on a Platinum for over a year with 720+ Ficos so I closed it out

Re: Exciting new premium card: US Bank Altitude Reserve

Anonymous — Tue, 11 Apr 2017 16:33:54 GMT

@noobody wrote:
@Anonymous wrote:
Seeing what they gave me with my Cash+, I doubt I could get this lol! Does US Bank let you PC?
most likely you can PC in house card like cash+ to this one

If they have decent transfer partners, I would go for it

Just downgrade Club Carlson Premier (big nerf last year, surprise surprise) to regular no AF club Carlson card, may call to reduce unnecessary credit line to better my chance to get approval of this card.

Anyone know what is US bank's policy to reallocate credit line, SP, HP or can not be done?

My knowledge is they have allowed me to do P/Cs no HP. But as to what their policy is? No idea. Sometimes in reading and how they have handled my CLIs it seems to be YMMV.

Re: Exciting new premium card: US Bank Altitude Reserve

Anonymous — Tue, 11 Apr 2017 16:52:11 GMT

@noobody wrote:
About US bank.
They give me very good SL, on both of my credit cards accounts. Without prior relationship before cash+ approval.
Keep sending me 4.5k SP cli offers on both of my accounts, when i ignore it, they offer small incentive to "force" me take the CLI.
They partial refund my Club Carlson premier AF, even they dont have to.
But the nerfthon on cash+ is historical bad, on club Carlson premier is also huge.
Transfer partner is the key issue for me, in or out.
If you have to use their portal to maximize return, i would definitely pass.

**bleep** so this is what 800+ FICO gets you with US Bank...

Re: Exciting new premium card: US Bank Altitude Reserve

mdd0214 — Tue, 11 Apr 2017 21:37:06 GMT

It's great to see all these new premium cards being released, but I don't think this is one I'll be apping for. Even if I used mobile wallet more regularly, I'm skeptical of their travel portal. It would be nice to be able to preview the options and compare with Amex or Chase.

Re: Exciting new premium card: US Bank Altitude Reserve

Anonymous — Tue, 11 Apr 2017 21:45:35 GMT

Card looks good but No Thank You to US Bank. I have a checking account with them and they've been the worst to work with. I can't wait to move my money from US Bank to either NFCU/USAA/PenFed..

Re: Exciting new premium card: US Bank Altitude Reserve

14Fiesta — Tue, 18 Apr 2017 23:08:00 GMT

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.

UPDATE:

Going back and looking over all the internal information I have available, I cannot find anything in writing that would hint at it being gated behind Private Client or "existing customers only" as was mentioned in other places. When I was originally learning about the new product, it was a verbal conversation so there is chance that words were misconstrued or a game of "telephone" was going on as the information made its way to me. There is still a chance that it could be a restricted product, but again based on the information available as of now in writing, it is a low chance. (Only thing I could find in resemblance is that it will basically be a Private Client level of customer service when you call in, similar to CSR).

2ND UPDATE:

More information came out today to confirm you DO have to have an exsisting relationship with US Bank for 35 days before application, however having a US Bank CC (Cash + etc) only is considered a relationship with the bank.

Re: Exciting new premium card: US Bank Altitude Reserve

Anonymous — Wed, 12 Apr 2017 00:28:16 GMT

No lounge access. Womp womp.

Re: Exciting new premium card: US Bank Altitude Reserve

heyryan — Wed, 12 Apr 2017 00:38:14 GMT

@Anonymous wrote:
No lounge access. Womp womp.

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.