U.S. Bank Altitude Reserve Card is a premium version of credit card offered by U.S. Bank. One of the main feature of this card is capability of earning 3x points on all mobile payments spend (Apple Pay, Samsung Pay, Google Pay etc) as well as certain travel spend. There are other compelling features such as Priority Pass Select, TSA Pre or Global Entry Credit of $100, $325 Annual travel credit for eligible travel reimbursement but the card comes with hefty annual fees of $400.
As per recent reports folks when ask for retention offer are offered 5,000 to 10,000 points retention offer after one year when 2nd year fees are billed or due on account. But what if you are not given that offer and you want to cancel or downgrade your card but have points available in your account? Below are you options..
1. Transfer points to Spouse or a Friend:
You can transfer points in any amount to your spouse or a friend who has either the U.S. Bank Altitude Reserve Credit Card or the U.S. Bank Flexperks Credit Card. All you need is there credit card number (account number) and you can do the transfer olline..
2. Real Time Mobile Redemption Rewards:
The great thing is U.S. Bank Altitude Reserve Card has something called as Real Time Mobile Redemption Rewards where you can redeem each of your Altitude Reserve Points at 1.5 cent value as statement credit when you make a travel purchase directly with Airlines, Hotels, car rental companies, taxis, limousines, passenger trains, and cruise lines. This also includes rides with Uber and Lyft in United States. Although there are limits on minimum amount you need to spend of $250 for car rentals and $500 for lodging; for other categories you can redeem for as low as $10 of charges.
So you can purchase airlines gift card (American Airlines, Delta Airlines, Southwest Airlines and Alaska Airlines sells gift card which can be purchased online) and redeem the real time mobile redemption at value of 1.5 cent/point. (The only requirement is that the charge has to be less than the available points value available for redemption for using Real Time Redemption Reward). You could also redeem them for airline ticket and subsequently cancel those ticket before 24 hours cancellation period and retain the statement credit for the same.
This is the easiest way of always getting a value of 1.5 cent/point and redeeming all your points before you go ahead with your cancellation or downgrade of the credit card.
So, go ahead and redeem those points for cash before you cancel your card.
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