US Bank Altitude Reserve Credit Card: Transfer Feature Finally Launched, Only Four Partners

US Bank Altitude Reserve has finally officially enabled points transfers. Cardholders can now transfer Altitude Points to 4 airline and hotel programs, but the options are still pretty underwhelming.

• Air France-KLM Flying Blue: 1:1;
• Qantas Frequent Flyer: 1:1;
• Ethiopian Airlines ShebaMiles: 1:1;
• ALL - Accor Live Limitless: 2:1.

This update clearly increases the value of Altitude Reserve points. In particular, this card still earns 3x on the first $5,000 in Mobile Wallet spending each month. If you transfer to Flying Blue, Qantas, or Ethiopian, that works out to 3 airline miles per $1 spent; if you transfer to Accor, that works out to 1.5 Accor points per $1 spent. At the moment, the only card confirmed to support transfers is Altitude Reserve; the other US Bank Altitude cards have not broadly opened this feature yet.

Altitude Reserve is still not accepting new applications, but for longtime cardholders who have kept the card, the addition of transfer partners is a major win. Flying Blue is especially useful, and Ethiopian ShebaMiles is also a relatively rare transfer partner for U.S. credit cards. If US Bank keeps adding partners in the future, this card's long-term value could still rise.

The transfer option is located after logging in to US Bank and going to Altitude Reserve → Rewards → Rewards Center → “Rewards your way with loyalty rewards transfer”. Points are deducted from US Bank immediately after submission, and most transfers arrive by the next business day. The official terms say it may take up to 72 hours, and transfers cannot be reversed once sent.

US Bank Altitude Reserve Credit Card Overview

Highlights

• US Bank Travel earns 10x on hotel bookings and 5x on airfare bookings (already similar to the current Sapphire Reserve and Strata Elite)
• $325 travel credit: You get $325 in annual travel spending credit each cardmember year, not calendar year. It can only be used through the US Bank Travel portal
• US Bank Travel bonus earnings: US Bank Travel earns 10x on hotel bookings and 5x on airfare bookings
• 3x on mobile wallet spending: After the change, only the first $5,000 per billing cycle earns 3x. Here, mobile wallet means Apple Pay, Android Pay, and Samsung Pay. Earning 3x on these purchases is insane, because these payment methods can be used for almost anything in stores, including gift cards, which makes it feel like all spending earns 3x. Note that the 3x only applies to in-app purchases and NFC purchases. For example, Samsung Pay earned 3x whether used in-app or in store (including magnetic-stripe emulation). Plastiq payments, although they posted as 01night (similar to a hotel stay), did not earn 3x
• Priority Pass Select membership: You get 8 visits per year, including yourself and guests, each counting as one visit. There is also a very useful perk tied to the card's PP benefit. The Priority Pass that comes with this card can be registered with any name and address you want (it is not locked to the cardholder), so if you already have a PP card, you can simply enter a family member's or friend's name and let them use the benefit.

• Metal card: It still has some nice cachet
• Other perks: TSA PreCheck or Global Entry reimbursement, black car and rental car service

Altitude Rewards points system

How to use points:

• Apply toward annual fee: 35,000 points can offset the primary card's $400 annual fee
• Redeeming points for travel purchases through Real-Time Mobile Rewards (RTMR) is now 1:1 after the change, so it is basically dead
• Redeeming travel purchases through US Bank Travel is now 1:1 after the change, so it is basically dead
• Points apparently can be transferred to other Altitude cards
• Also, while browsing the rewards center, I found that US Bank points can be transferred to other people without restriction (similar to Capital One), so if point transfers go live later, it could make buying and selling points easier for everyone.

Unboxing Photos

First, here are the unboxing photos; I'll add my usage impressions over time.

Activation

You need to call the number on the back of the card to activate it. It seems to be the dedicated Reserve line, and someone answered within a dozen seconds. When I added it to Samsung Pay on a Samsung phone, it said I needed to call to activate it. After I got through, customer service verified the information and confirmed it. The representative said that the only way to activate mobile payment is by phone verification.

Some application data points

[DP1] Based on reader alex's application experience, the Fidelity card may not count. After applying, he called more than 5 times and was escalated to a manager, and they all said the Fidelity card does not belong to US Bank, so it could not be used for his application. But in the approval example below, the card had already been mailed! So this is clearly YMMV and needs more data points to confirm. If you know of similar application experiences, please leave a comment.

[DP2] Finally confirmed! Users with the Fidelity 2% credit card that was previously forcibly moved to US Bank also qualify to apply for this Altitude card. Here is one reader's firsthand experience: the application was instantly denied at first, with no hard pull. Then after calling, customer service said Fidelity does count and sent it to manual review, which triggered a hard pull. The next day he called to check the status and was denied. He called again, and customer service said that card does not count. He still did not give up and called again; another representative said it would go back to manual review. On the third day, he called to check the status again, and it went through! My sense is that US Bank employees also were not entirely clear on the rules, so it is worth trying a few times.

According to DOC's information and data points in the comments, this card no longer requires an existing US Bank relationship to apply. In other words, you no longer need to have a checking account, savings account, or credit card first in order to apply for this card directly (that used to be required). However, this data point suggests that the application may still be declined, in which case you need to manually reconsider. If you apply without a relationship, be sure to call for reconsideration so you do not waste a hard pull. That said, for a bank as picky as US Bank, having a checking account probably still makes approval easier.

Application

• The minimum approved credit line for this card is $5,000. Applicants are recommended to have at least one year of credit history and some income.
• If you have a business relationship with US Bank (such as business checking or a credit card), you still need to apply at a branch and have a banker call to explain the situation.
• According to DOC, the terms on this card have changed slightly: you can now apply again every five years and earn the welcome bonus again (it used to be once per lifetime). This is calculated based on when you received the welcome bonus, so if you are trying to time it precisely, it is best to check the exact month when the bonus posted.Existing or previous US Bank Altitude Reserve Visa Infinite cardmembers are not eligible if you have received a new account bonus for this product in the last five years.

• US Bank application status check link. Or call: 800-947-1444
• When you apply, US Bank may check the two smaller credit bureaus SageStream & ARS credit reports, so you may consider freezing them before applying
• You can only earn the welcome bonus on the same US Bank credit card once
• You can call the reconsideration line (800-947-1444) to speed up the credit card approval process or to have a denied application reviewed again.
• US Bank is relatively sensitive to HPs and new accounts. Having a US Bank Checking account can help with getting approved for a credit card
• More about applying for US Bank credit cards

Application Link

• US Bank Altitude Reserve (applications suspended)