cancel
Showing results for 
Search instead for 
Did you mean: 

APR Range for New U.S. Bank Altitude Reserve Apps

UncleB
Moderator

APR Range for New U.S. Bank Altitude Reserve Apps

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:

 

USBankARapr.png

 

Link:  https://applications.usbank.com/oad/terms.controller?locationCode=18569&offerId=M425HP488M&sourceCod... 

 

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. Smiley Wink

Message 1 of 13
12 REPLIES 12
NRB525
Super Contributor

Re: APR Range for New U.S. Bank Altitude Reserve Apps

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+

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
Message 2 of 13
UncleB
Moderator

Re: APR Range for New U.S. Bank Altitude Reserve Apps


@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.

Message 3 of 13
randomguy1
Valued Contributor

Re: APR Range for New U.S. Bank Altitude Reserve Apps


@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:

 

USBankARapr.png

 

Link:  https://applications.usbank.com/oad/terms.controller?locationCode=18569&offerId=M425HP488M&sourceCod... 

 

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. Smiley Wink


I applied 11/20. Checking my APR now, it shows 16.24% FWIW.

Message 4 of 13
UncleB
Moderator

Re: APR Range for New U.S. Bank Altitude Reserve Apps


@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!

Message 5 of 13
Remedios
Moderator

Re: APR Range for New U.S. Bank Altitude Reserve Apps


@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 

Message 6 of 13
UncleB
Moderator

Re: APR Range for New U.S. Bank Altitude Reserve Apps


@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!

Message 7 of 13
Remedios
Moderator

Re: APR Range for New U.S. Bank Altitude Reserve Apps

They better keep their US Bank hands off my US Bank cards 

 

 

Twas funny 😖

Message 8 of 13
UncleB
Moderator

Re: APR Range for New U.S. Bank Altitude Reserve Apps


@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! Smiley Tongue

Message 9 of 13
longtimelurker
Mega Contributor

Re: APR Range for New U.S. Bank Altitude Reserve Apps


@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! Smiley Tongue


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.)

Message 10 of 13
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.