Two New Elan Cards - Travel Rewards Plus, Reserve Rewards Plus

[CJM1]

Hi everyone. I haven't seen very many people discussing the two new cards issued by Elan Financial Services (which are then distributed through a significant number of banks and credit unions). Elan is known for the Max Cash Preferred (substantially similar to the US Bank Cash+ card) and the Everyday Rewards+ (comparable to the US Bank product, Altitude GO).

The two new cards I have seen offered at multiple banks and credit unions which distribute Elan consumer cards are the (1) Travel Rewards+ Card and the (2) Reserve Rewards+ Card. These cards each have annual fees, I know that is a deal-breaker for some, but each of these cards has a sign up bonus (SUB) and they might interest someone out there.

**The Travel Rewards Plus ("TRP") Card has a $250 SUB, after $2,000 in eligible net purchases are made within the first 120 days of account opening. This is another card where points are pennies, so 4x = 4%. The Annual Fee (AF) is 0 dollars the first year, and after that it is $99.

*The TRP features "unlimited" (no annual cap, I take it?) 4% cash back (CB) on "travel," gas stations, EV charging stations, "entertainment," and "recreation" purchases.

*The TRP also features unlimited 1.5% cb on "all other eligible net purchases."

"Travel" appears to be defined as "purchases made directly from airlines, hotels, car rental companies, taxicabs, limousines, passenger trains and cruise line companies." 

"Merchants classified as "Entertainment" include: most cinemas, theme parks, concert venues, professional sports venues, and qualifying ticket sellers such as Ticketmaster® and StubHub®."

"Merchants classified as "Recreation" include: sports and recreation facilities that charge membership fees, sporting goods stores, public golf courses, fitness centers, ongoing fitness subscriptions, recreational vehicle parks and campsites, dance studios and schools, and bowling centers."

The redemption options with this card include: "Travel – air travel, hotel stays, rental cars and more; [for] Cash Back – 2,500 points for $25 cash back; [for] Merchandise – music, movies, books, electronics; [or for] Brand name gift cards – over 125 brands of retailers and restaurants." Plus, it comes with "Airport lounge access with complimentary Priority PassTM Select membership."

This one looks a little interesting. It does have a fee, which kicks in after one year. But if you hit the $250 SUB, that pays for the card for 2 years. Although it doesn't get 5% cb on any single category, it does get 4% on quite a few different things. Planes, trains, taxis, and rental cars; hotels; GAS; theme parks and RV parks; tickets, generally, including movies, sporting events, and concerts; gym membership; sporting goods stores; golf courses ... and then 1.5% on general purchases. It could be a good card for someone who prefers carrying fewer cards, each of which covers more categories.

**The Reserve Rewards Plus Card might be Elan's "Black Card," or something, it has a simple and solid black look, at all of the banks I have seen it at. It has a $500 SUB, after you spend $4,500 in 90 days (Not one of the best SUBs I've ever seen, in terms of yield/spend target/timeframe.). Again, this is another card where points are pennies, so 6x = 6%. The AF is 0 dollars the first year, and after that it is $390.

*The Reserve Rewards+ features unlimited "6x points on on travel booked through the Rewards Center;" 

*The Reserve Rewards+ also features unlimited 2% cb on "all other eligible net purchases"

and

"Up to $240 in credits for eligible sports & fitness, personal care, entertainment & streaming services, and dining;"

and

$100 travel credit; $100 TSA PreCheck® or Global Entry® application credit; and $60 Priority Wine Pass credit.

The redemption options with this card appear to be the same as with the other new Elan card, you can "Redeem for Travel – air travel, hotel stays, rental cars and more; [for] Cash Back – 2,500 points for $25 cash back; [for] Merchandise – music, movies, books, electronics; [or for] Brand name gift cards – over 125 brands of retailers and restaurants;" Plus, it comes with "Airport lounge access with complimentary Priority PassTM Select membership."

So if your bank or credit union offers Elan Financial Services products, like the Max Cash Preferred, then it might offer one of these new cards too.

Best Regards,

#Elan #Elan Financial

[Anonymous]

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@CJM1 wrote:

The AF is 0 dollars the first year, and after that it is $390.

*The Reserve Rewards+ features unlimited "6x points on on travel booked through the Rewards Center;" 

*The Reserve Rewards+ also features unlimited 2% cb on "all other eligible net purchases"

and

"Up to $240 in credits for eligible sports & fitness, personal care, entertainment & streaming services, and dining;"

and

$100 travel credit; $100 TSA PreCheck® or Global Entry® application credit; and $60 Priority Wine Pass credit.

---

Thanks for letting us know.   

Not sure of the value proposition of this second card, certainly after the first year (where you get the SUB and no AF).  I don't like the high multiplier is only when booked through the Rewards Center and is otherwise 2.   While other issuers do something similar, CSR still gives 3x on other travel.   Much depends on how easy the $240 credits are to use.  If you can use all, then the card can be fine: forgetting Priority Wine, an effective AF of $25 for 6x travel and 2x everywhere.   Still not obviously great!  And I doubt it's that easy to use them all.

[Hansolojr]

Great post!  Haven't seen this mentioned elsewhere.  Thank you.

The Reserve Rewards card looked interesting but unfortunately the $20 monthly credit has a $5/category limit, so I will pass for now.

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@CJM1 wrote:

Hi everyone. I haven't seen very many people discussing the two new cards issued by Elan Financial Services (which are then distributed through a significant number of banks and credit unions). Elan is known for the Max Cash Preferred (substantially similar to the US Bank Cash+ card) and the Everyday Rewards+ (comparable to the US Bank product, Altitude GO).

The two new cards I have seen offered at multiple banks and credit unions which distribute Elan consumer cards are the (1) Travel Rewards+ Card and the (2) Reserve Rewards+ Card. These cards each have annual fees, I know that is a deal-breaker for some, but each of these cards has a sign up bonus (SUB) and they might interest someone out there.

**The Travel Rewards Plus ("TRP") Card has a $250 SUB, after $2,000 in eligible net purchases are made within the first 120 days of account opening. This is another card where points are pennies, so 4x = 4%. The Annual Fee (AF) is 0 dollars the first year, and after that it is $99.

*The TRP features "unlimited" (no annual cap, I take it?) 4% cash back (CB) on "travel," gas stations, EV charging stations, "entertainment," and "recreation" purchases.

*The TRP also features unlimited 1.5% cb on "all other eligible net purchases."

"Travel" appears to be defined as "purchases made directly from airlines, hotels, car rental companies, taxicabs, limousines, passenger trains and cruise line companies." 

"Merchants classified as "Entertainment" include: most cinemas, theme parks, concert venues, professional sports venues, and qualifying ticket sellers such as Ticketmaster® and StubHub®."

"Merchants classified as "Recreation" include: sports and recreation facilities that charge membership fees, sporting goods stores, public golf courses, fitness centers, ongoing fitness subscriptions, recreational vehicle parks and campsites, dance studios and schools, and bowling centers."

The redemption options with this card include: "Travel – air travel, hotel stays, rental cars and more; [for] Cash Back – 2,500 points for $25 cash back; [for] Merchandise – music, movies, books, electronics; [or for] Brand name gift cards – over 125 brands of retailers and restaurants." Plus, it comes with "Airport lounge access with complimentary Priority PassTM Select membership."

This one looks a little interesting. It does have a fee, which kicks in after one year. But if you hit the $250 SUB, that pays for the card for 2 years. Although it doesn't get 5% cb on any single category, it does get 4% on quite a few different things. Planes, trains, taxis, and rental cars; hotels; GAS; theme parks and RV parks; tickets, generally, including movies, sporting events, and concerts; gym membership; sporting goods stores; golf courses ... and then 1.5% on general purchases. It could be a good card for someone who prefers carrying fewer cards, each of which covers more categories.

**The Reserve Rewards Plus Card might be Elan's "Black Card," or something, it has a simple and solid black look, at all of the banks I have seen it at. It has a $500 SUB, after you spend $4,500 in 90 days (Not one of the best SUBs I've ever seen, in terms of yield/spend target/timeframe.). Again, this is another card where points are pennies, so 6x = 6%. The AF is 0 dollars the first year, and after that it is $390.

*The Reserve Rewards+ features unlimited "6x points on on travel booked through the Rewards Center;" 

*The Reserve Rewards+ also features unlimited 2% cb on "all other eligible net purchases"

and

"Up to $240 in credits for eligible sports & fitness, personal care, entertainment & streaming services, and dining;"

and

$100 travel credit; $100 TSA PreCheck® or Global Entry® application credit; and $60 Priority Wine Pass credit.

The redemption options with this card appear to be the same as with the other new Elan card, you can "Redeem for Travel – air travel, hotel stays, rental cars and more; [for] Cash Back – 2,500 points for $25 cash back; [for] Merchandise – music, movies, books, electronics; [or for] Brand name gift cards – over 125 brands of retailers and restaurants;" Plus, it comes with "Airport lounge access with complimentary Priority PassTM Select membership."

So if your bank or credit union offers Elan Financial Services products, like the Max Cash Preferred, then it might offer one of these new cards too.

Best Regards,

#Elan #Elan Financial

[PullingMeSoftly]

Informative, thanks for posting this news.

Looks like the TRP is an alternate version of the Connect, just with the added 4x multipliers on Entertainment and Recreation for half the Connect's SUB.

Thought the Reserve Rewards was gonna be a twist on the Alt. Reserve, but nope! Just not seeing the value on this one, like a not-good version of the Flagship.

[ChargedUp]

It appears the Reserve Rewards + adds another Visa Infinite option here in the states. (and a metal card! )

[Anonymous]

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@Hansolojr wrote:

Great post!  Haven't seen this mentioned elsewhere.  Thank you.

The Reserve Rewards card looked interesting but unfortunately the $20 monthly credit has a $5/category limit, so I will pass for now.

---

Yes, that really reduces the value, although I guess some may view it as positive if they regularly spend in all four categories (then $5 each per month is easy)

[CJM1]

These must be pretty new. At the time I post this, they aren't even listed on Elan's website which displays its consumer products. (https://www.elanfinancialservices.com/credit-card/what-we-offer/product-suites/consumer-products.htm....) But many/most banks and credit cards offering Elan products do seem to have them. So, Amplify Credit Union (https://creditcardlearnmore.com/11t3/index?ecdma-lc=20436&ecid=OTHE_25940) (VISA) has these new cards, as does Exchange Bank (VISA) (https://creditcardlearnmore.com/11t3/index?ecdma-lc=02912&ecid=OTHE_25940). Associated Bank (VISA) has the other Elan cards, including cards with extra benefits if you happen to be a fan of the Milwaukee Brewers (https://www.associatedbank.com/personal/credit-cards-and-payments/credit-cards/brewers-credit-card), but does NOT seem to have these new ones, yet. Banc of California (Mastercard) has the new cards (https://creditcardlearnmore.com/11t3/index?ecdma-lc=26809&ecid=DL_46457) and so does Smart Bank (Mastercard) (https://creditcardlearnmore.com/11t3/index?ecdma-lc=31875&ecid=OTHE_25940) and Community 1st Credit Union (Mastercard) (https://creditcardlearnmore.com/11t3/index?ecdma-lc=26903&ecid=OTHE_25940).

If you are new to Elan, and would like more examples of banks and credit unions that partner with Elan, for starters, try (https://ficoforums.myfico.com/t5/SmorgasBoard/Max-Cash-Preferred-the-really-big-list-of-beautiful-ca... (GREAT list, with many pictures of card designs, circa June 2022). For more background information, try this informative thread, which is a list of banks and is also an extended conversation about Elan, US Bank, and the differences between the various products, etc. (https://ficoforums.myfico.com/t5/Credit-Cards/Elan-quot-Max-Cash-quot-vs-US-Bank-Cash/m-p/6198795#M1...) (926 messages long).

I would consider getting the Travel Rewards Plus, we will see, I think that's clearly the more interesting of these two new cards, but the Max Cash Preferred (5% cash back, no AF, generously defined categories, set it and forget it) is still my favorite Elan product. And if you're willing to do some hunting around the various partner banks and credit unions around the country, it probably has as many card design options as Discover.

Best,

#Elan #Elan Financial

[Citylights18]

I like the Elan ecosystem but I still haven't crossed the threshold where I would pull the trigger on a "premium" AF card.

Any of those high AF travel cards assume you are buying enough travel to justify them. If you are scraping by on points and free nights from hotel cards you aren't buying travel.

I've got multiple hotel ecoystems (Hyatt, IHG, Hilton, Marriott) where I like the idea of scalping a free night and some points mixed in here or there. I keep the SUB points in the bank for a longer vacation and if I do have to round out a purchase you end up with high in property earning rates when you do, not just 4% CB.

[galahad15]

Thanks for the info about the 2 new Elan cards!  Very fascinating -- although I think I'll stick with my existing no-AF* Penfed Pathfinder Rewards VS card, mostly because it offers 4x* rewards points for every $1 of travel purchases made (yes. I know that the Pathfinder is not 1cpp and so as a percentage, it is something more like ~3.8% or similar, etc.).  Also because it has the $100 airline travel incidentals benefit, plus TSA Pre credit, and 1.5x cashback on all other purchases, but with no AF like the Elan cards have.

* In order to qualify for for the 4x travel rewards points and the AF-free version of the Pathfinder card, iirc, you either have to be active military or part of the Honors Advantage Members program (requires a minimum checking account balance of $500), otherwise the Pathfinder comes with 3x rewards points for travel puchases, and a $95 AF.

[NYJfan]

I checked both Valley Bank and Associated Bank and neither say the $390 annual fee is waived in year 1. They both explicitly say the Travel Rewards+ $99 annual fee is waived. 

Also, the Travel Rewards+ Priority Pass membership comes with 4 free visits a year. The Reserve comes with 8 free visits a year.