U.S. Bank Altitude Reserve Card is not given much attention in miles/points world but it is one of the few premium card's (Annual fee: $400) one should have in the wallet (Caveat: You do need to have U.S. Bank Checking account to get this credit card though!).
Here are the key reason's why you should consider it if you do not have it yet.
Apart from above there are additional features such as Priority Pass (4 free access for card holder + 1 guest per year), Gogo wifi access pass (12 passes per year), $100 credit for Global Entry and other fringe benefits included. But the most important feature of the card is the "Real-Time Rewards" which allows redemption at 1 cent/point for most purchases and at special value of 1.5 cent/point (50% more value of points) when redeemed for travel related purchases such as Airlines, Hotels, Car Rentals and Ride Share.
While there is a minimum preset of $250 purchase amount required for car rental and $500 purchase amount required for Lodging, the minimum for other categories such as Airlines, Uber/Lyft starts at $10.
So, if you have a purchase made for Airline fare purchase you can double dip by getting reimbursed from your $325 annual credit while also able to redeem your earned points towards this purchase at value of 1.5 cents/point. So, this is in fact a great way cash out the points as well. (Tip: You can book flights with airlines, redeem points with real-time rewards for the charge and later cancel the booking, effectively cashing out your points). For more info on real-time rewards you can check out here.
Also U.S. Bank is good about providing retention offer of 5,000 points to 10,000 points if you ask for it when annual fees are due. This can be valued at $75 to $150 respectively and thus make the card sort of fee free ($325 travel credit + $75 in retention credit).
So, if you do not have this card yet, now might be a good time to add it to your wallet and have a premium card with almost ~$0 in annual fees.
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