U.S. Bank Launches New Card With Big Travel Rewards

On-the-go professionals have a new credit card option with the U.S. Bank Altitude Reserve Visa Infinite.

[Disclosure: Cards from our partners are mentioned below.]

U.S. Bank introduced a new credit card Monday that offers a $325 annual travel credit and three points back for each dollar spent on travel and mobile wallet purchases. The card is available immediately to most existing customers only, but there is a way you can get the card if you aren’t a current customer (more on that in a minute).

The Altitude Reserve Visa Infinite is aimed at on-the-go professionals, John Steward, president of retail payment solutions for U.S. Bank, said in a press release.

High-End Travel Rewards

Like many high-end travel rewards cards, the Altitude Reserve also offers travel planning, TSA PreCheck and Global Entry application fee reimbursement, airport lounge access, free airplane Wi-Fi access and discounts on hotel rooms and car rentals. New cardholders receive a 50,000-point bonus, worth $750 in travel purchases if they spend $4,500 in their first 90 days of membership.

While travel and purchases made with Apple Pay, Samsung Pay, Android Pay and Microsoft Wallet earn three points per dollar, other purchases earn one point per dollar.

Cardholders get 12 free in-flight GoGo Wi-Fi sessions each year once they register their account on the U.S. Bank Altitude Reserve website. GoGo is available on AeroMexico, Air Canada, Alaska Airlines, American, Delta, Japan Airlines, United and Virgin America flights.

Cardholders also get a year of free Priority Pass Select membership, which allows access to more than 1,000 VIP airport lounges. Each cardmember and guest still has to pay a $27 lounge visit fee, though the fee is waived for the first four visits.

The card reimburses an $85 statement credit for a TSA PreCheck application or $100 for a Global Entry application, as long as the fee is charged to the card. Cardholders are eligible for a reimbursement every four years.

Cardmembers also get a 15% discount on reservations made with the Groundlink Black Car Service and a one-time $30 credit to be used for reservations.

The card also offers fraud protection, warranty service, rental car insurance and travel insurance.

What You’ll Pay

The Altitude Reserve is only available to U.S. Bank customers. If you’re not already a customer, you can apply for the card 35 days after opening an account or taking out a loan with U.S. Bank. The card comes with a $400 annual fee.

The card has a variable APR of 16.49% for purchases and balance transfers and 24.74% for cash advances. Cash advances also come with a 4% fee and a $10 minimum. The balance transfer fee is 3% with a $5 minimum.

The Altitude Reserve has no foreign transaction fees. Late payments cost up to $38; returned payments fees run up to $35.

Altitude vs. Sapphire

The Altitude Reserve’s rewards are similar to that of the Chase Sapphire Reserve (read our review here), which also offers a 50,000 point bonus, though for only $4,000 in purchases in three months. The Altitude Reserve has a higher annual travel credit and matches Sapphire Reserve with its three points per dollar travel rewards rate.

Both cards require solid credit scores. You can check two of yours free on Credit.com to see if you’ll qualify.

Image: danchooalex

Note: It’s important to remember that prices for products and services frequently change. As a result, rates, fees and terms cited in this article may have changed since the date of publication. Please be sure to verify current rates, fees and terms with the company directly.

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This Bank Is Giving New Credit Cardholders Rewards Every Time the U.S. Wins a Medal at Rio

olympics_bonus_points

In case you need more incentive to get excited over Team USA wins at the Olympics in Rio later this month, Visa and U.S. Bank are teaming up to offer cardholders extra points every time a U.S. athlete medals.

The FlexPerks Travel Rewards Visa card promotion runs in the United States from Aug. 1 through Sept. 3, 2016. Cardmembers who apply and are approved during the promotion can earn bonus FlexPoints for every U.S. Olympic win — 200 FlexPoints for every Gold Medal, 100 FlexPoints for every Silver Medal and 50 FlexPoints for every Bronze Medal.

“This promotion will encourage our new FlexPerks Travel Rewards Visa Cardmembers to share in the achievement of United States Olympians and bring them closer to The Olympics,” Cliff Cook, senior vice president for the U.S. Bank retail credit-card division, said.

Cardmembers also can receive an extra 20,000 Enrollment Bonus FlexPoints when they spend $2,000 within the first four months after their account is opened.

The offer is subject to credit approval, and is not available to current or previous cardholders. FlexPoints will be awarded as long as one purchase is posted to the account owner’s individual account by Sept. 30, 2016.

Rewards credit cards can be great for people who don’t carry a balance month to month as these cards tend to have higher interest rates. Remember, before applying for any new card, it’s a good idea to check your credit scores to make sure there aren’t any surprises. (You can keep track of your credit scores and what areas of your credit you might be able to improve by viewing your free credit report summary, updated each month, on Credit.com.)

Note: It’s important to remember that interest rates, fees and terms for credit cards, loans and other financial products frequently change. As a result, rates, fees and terms for credit cards, loans and other financial products cited in these articles may have changed since the date of publication. Please be sure to verify current rates, fees and terms with credit card issuers, banks or other financial institutions directly.

Image: Wavebreakmedia

The post This Bank Is Giving New Credit Cardholders Rewards Every Time the U.S. Wins a Medal at Rio appeared first on Credit.com.