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When I applied for the Altitude Reserve back in 2019 there was a single APR given to all who were approved, but I noticed a few days ago this has apparently changed... there's now an APR range:
This isn't exactly earth-shattering news, but I did think it was notable since when I applied the APR was a variable 17.74%, now 15.74% which is lower than the best rate they're now offering to new approvals.
They are notoriously picky with applications, but perhaps this is indicates they might be more lenient with approvals for this card than in the past? 🤔
The jury is out on that... this is U.S. Bank we're talking about, after all.
Glad I have my 15.74% rate. Still technically a nosebleed rate, you'd never carry a balance at this rate, but better than 20+
@NRB525 wrote:Glad I have my 15.74% rate. Still technically a nosebleed rate, you'd never carry a balance at this rate, but better than 20+
My thoughts exactly.
I would never carry a balance on this card, or rather, I would never plan to. I'm glad to have the lower rate in any case.
I'm particularly curious if the new APR range might result in more approved applications. We'll likely never know for sure, of course, especially with it being a more niche product to begin with.
@UncleB wrote:When I applied for the Altitude Reserve back in 2019 there was a single APR given to all who were approved, but I noticed a few days ago this has apparently changed... there's now an APR range:
This isn't exactly earth-shattering news, but I did think it was notable since when I applied the APR was a variable 17.74%, now 15.74% which is lower than the best rate they're now offering to new approvals.
They are notoriously picky with applications, but perhaps this is indicates they might be more lenient with approvals for this card than in the past? 🤔
The jury is out on that... this is U.S. Bank we're talking about, after all.
I applied 11/20. Checking my APR now, it shows 16.24% FWIW.
@randomguy1 wrote:I applied 11/20. Checking my APR now, it shows 16.24% FWIW.
Ah, very interesting... the change to having an APR range for the AR might not be all that recent after all. 🤔
Thanks for the data point!
@UncleB wrote:
@NRB525 wrote:Glad I have my 15.74% rate. Still technically a nosebleed rate, you'd never carry a balance at this rate, but better than 20+
My thoughts exactly.
I would never carry a balance on this card, or rather, I would never plan to. I'm glad to have the lower rate in any case.
I'm particularly curious if the new APR range might result in more approved applications. We'll likely never know for sure, of course, especially with it being a more niche product to begin with.
No, it won't lead to more approvals
US Bank just added secured versions of Go and Cash+.
Raising apr on other cards will help with the fact they have to pay rewards and/or higher likelihood of default
@Remedios wrote:
@UncleB wrote:
@NRB525 wrote:Glad I have my 15.74% rate. Still technically a nosebleed rate, you'd never carry a balance at this rate, but better than 20+
My thoughts exactly.
I would never carry a balance on this card, or rather, I would never plan to. I'm glad to have the lower rate in any case.
I'm particularly curious if the new APR range might result in more approved applications. We'll likely never know for sure, of course, especially with it being a more niche product to begin with.
No, it won't lead to more approvals
US Bank just added secured versions of Go and Cash+.
Raising apr on other cards will help with the fact they have to pay rewards and/or higher likelihood of default
Excellent point, I hadn't considered the impact of the new secured card offerings!
They better keep their US Bank hands off my US Bank cards
Twas funny 😖
@Remedios wrote:They better keep their US Bank hands off my US Bank cards
Twas funny 😖
Haha, I feel the same way!
Now that I'm finished with sign-up bonuses on other cards most of my spend (probably 85%) is reverting back to US Bank, so they best not mess with things too much!
@UncleB wrote:
@Remedios wrote:They better keep their US Bank hands off my US Bank cards
Twas funny 😖
Haha, I feel the same way!
Now that I'm finished with sign-up bonuses on other cards most of my spend (probably 85%) is reverting back to US Bank, so they best not mess with things too much!
The AR is, mmm, special! My wife was just in the UK for the first time since we got the AR and was amazed how EVERYWHERE takes mobile pay. Would not want that nerfed.
(In contrast yesterday I try paying at the USPS, "Sorry, Apple Pay doesn't work" Then he saw it was a samsung and said "Oh, that sometimes does" but since I was using my new S21 Ultra, lacking MLT, it didn't.)