[Rumor] US Bank to Launch Premium “Altitude Reserve” card in May
The rumor mill is churning and there’s hot gossip on Flyertalk about a new premium credit card from US Bank. According to a leaked memo, the new card is called the “Altitude Reserve” and it will compete directly with the Chase Sapphire Reserve, American Express Platinum, and Citi Prestige cards. The rumors appear to be well supported by a recent trademark filing by US Bank.
The details are still fuzzy but here are the specs:
- 50,000 Points worth $750 when you spend $4500 in the first 90 days
- 3X Points on Travel Purchases
- $325 Annual Travel Credit
- 12 free gogo in-flight wifi passes
- Priority Pass airport lounge access
- TSA Pre-check / Global Entry Statement credit
- Black car and car rental service
- Visa Infinite Concierge service and more
- Custom Engraved Metal Card
The question is 50,000 points in what currency? Will these be Flexperks as is US Bank’s current points currency? The benefits appear to be inline with the Chase Sapphire Reserve, although there is no 100,000 points bonus, which was initially offered by Chase. There also is no discussion of where or who will be able to apply for this card. Is it available in-branch or online? Current US Bank customers only? I’ve got more questions than answers.
More competition in the premium credit card space is always a good thing for consumers. Not long ago, it was just the American Express Platinum card, which had been the sole reigning king of the premium card market for decades. Then came along the Citi Prestige a couple years ago and last year the Chase Sapphire Reserve blew the market wide open. Now all the major credit card banks are battling for these new customers, primarily millennials. The points game has gone mainstream and it seems like everyone has a premium credit card now, including my own grandma! It will be interesting to see how this all plays out long term. For now, we’ll have to wait for more details on how to pick this new card up!