The U.S. Bank Altitude Reserve Card is a premium travel rewards card with an annual fee

The U.S. Bank Altitude Reserve Card is a rewards card issued by U.S. Bank that targets frequent travelers and people who spend heavily on dining and entertainment. It charges an annual fee — currently $400 — which the bank offsets partly through an annual travel credit. The card earns points on most purchases and offers benefits like airport lounge access and travel protections.

This card is not a starting point for someone building credit or managing their first rewards card. It requires good to excellent credit (typically a score of 740 or higher) and makes sense only if you spend enough to earn back the annual fee through rewards or credits. If you travel rarely or spend under $5,000 per year on the card's bonus categories, the fee will cost you money.

Key Takeaways

  • The Altitude Reserve charges a $400 annual fee but includes a $325 annual travel credit that reduces the net cost to $75 per year.
  • The card earns 4.5 points per dollar on dining and entertainment, 3 points per dollar on travel, and 1 point per dollar on everything else.
  • You need good to excellent credit to be approved, and the card makes financial sense only if you spend enough to earn back the annual fee.
  • The card includes benefits like primary rental car insurance, trip delay reimbursement, and access to Priority Pass Select airport lounges.

How the annual fee and travel credit work together

The $400 annual fee posts to your account each year. U.S. Bank also provides a $325 annual travel credit that reimburses you for may be able to access travel purchases — airline tickets, hotels, rental cars, taxis, rideshare, parking, tolls, and some other transit costs. The credit resets each calendar year, so you have 12 months to use it before it expires.

The math matters: if you use the full $325 credit, your true annual cost is $75. If you do not use the credit, you pay the full $400. The credit does not carry over to the next year, so spending $300 on travel in December and $400 in January means you lose $25 of the December credit. Plan your travel spending to use as much of the credit as possible each calendar year.

Rewards rates and how they compare

The Altitude Reserve earns points at different rates depending on what you buy. Dining and entertainment purchases earn 4.5 points per dollar. Travel purchases earn 3 points per dollar. Everything else earns 1 point per dollar. Points do not expire as long as your account remains open.

The value of a point depends on how you redeem it. U.S. Bank values points at roughly 1 cent each when you redeem them for travel through the bank's travel portal, though the actual value varies by merchant and booking. If you redeem points for cash back, the rate is typically lower — around 0.5 cents per point. This means a $100 airline ticket purchased with the card earns 300 points, which could be worth $3 in cash back or potentially more if redeemed for travel.

Compare this to other premium travel cards: the Chase Sapphire Reserve earns 3 points per dollar on travel and dining, while the American Express Platinum earns 5 points per dollar on flights and hotels booked through the airline or hotel website. The Altitude Reserve's 4.5 points on dining is higher than most competitors, but its 3 points on travel is middle-of-the-road.

Credit requirements and approval odds

U.S. Bank typically approves the Altitude Reserve for people with credit scores of 740 or higher, though approval is not may provide at any score. The bank also looks at your income, existing debts, and credit history — specifically whether you have missed payments or defaulted on past accounts. If your score is below 700, approval is unlikely. If your score is between 700 and 740, approval is possible but not certain.

The process itself is a hard inquiry, which temporarily lowers your credit score by a few points. If you are denied, you can ask U.S. Bank to reconsider, but the bank rarely reverses a denial without a significant change in your financial situation. If you are not sure whether you meet the bank's standards, you can check your credit score for free through your bank, a credit card issuer, or a service like Credit Karma before you explore.

Travel protections and cardholder benefits

The Altitude Reserve includes several protections that come with the card at no extra cost. Primary rental car insurance covers damage to a rental car when you book and pay with the card — meaning the card's insurance pays first, before your personal auto insurance. Trip delay reimbursement covers meals and lodging if your flight is delayed more than 12 hours. Lost luggage reimbursement covers baggage that an airline loses or damages.

The card also includes Priority Pass Select membership, which gives you access to airport lounges worldwide. This benefit alone is worth $100 to $200 per year if you travel frequently and use lounges regularly. However, if you fly once or twice a year, you may never use the lounge access, so do not count it as a reason to get the card unless you travel regularly.

When the Altitude Reserve makes financial sense

The card pays for itself if you spend enough to earn back the $75 net annual fee (after the $325 travel credit). If you spend $2,000 per year on dining and entertainment at 4.5 points per dollar, you earn 9,000 points. At 1 cent per point, that is $90 in value — enough to cover the net fee. Add travel spending, and the math improves quickly.

The card makes the most sense for people who spend $10,000 or more per year on dining, entertainment, and travel combined. If you spend $5,000 to $10,000 per year in those categories, the card may break even or slightly profit, depending on how you redeem points. If you spend less than $5,000 per year on bonus categories, the annual fee will likely cost you money.

Consider also whether you will actually use the travel credit. If you do not travel or book travel through the portal, the $325 credit is worthless to you, and the card costs $400 per year. In that case, a no-annual-fee card with lower rewards rates may be a better choice.

How the Altitude Reserve compares to other premium travel cards

The Chase Sapphire Reserve charges a $550 annual fee with a $300 travel credit, making the net cost $250 per year. It earns 3 points per dollar on travel and dining, lower than the Altitude Reserve's 4.5 on dining. However, Chase points can be transferred to airline and hotel partners, which sometimes offers better value than U.S. Bank's redemption options. The Sapphire Reserve also includes a $60 annual dining credit that the Altitude Reserve does not.

The American Express Platinum charges $695 per year with multiple credits — $200 for airline fees, $200 for Uber, and $100 for dining — that can total $500 in value for heavy users. It earns 5 points per dollar on flights and hotels booked directly with the airline or hotel. The Platinum is more expensive upfront but offers more credits, making it better for people who spend heavily on specific categories.

The U.S. Bank Altitude Reserve sits in the middle: lower annual fee than Amex or Chase, but also lower earning rates on some categories and fewer credits. It is the best choice if you spend heavily on dining and entertainment, use the travel credit fully, and want a simpler card with fewer moving parts.

Frequently Asked Questions

Do I need to set up the travel credit, or does it happen automatically?

The travel credit is automatic — you do not need to set up it. When you make an may be able to access travel purchase with the card, U.S. Bank tracks the charge and credits your account up to $325 per calendar year. You do not have to do anything except use the card for travel.

Can I use the travel credit for airline gift cards?

The travel credit covers airline tickets and fees, but not gift cards. If you want to use the credit, book an actual flight or pay for seat upgrades, baggage fees, or other airline charges. Some airlines allow you to explore a credit toward a future ticket, which may work around this limitation — check with your airline.

What happens to my points if I close the card?

Your points expire if you close the account or if the account is inactive for a long period. U.S. Bank's policy states that points expire if your account is closed or dormant for 24 months. If you plan to close the card, redeem your points first or transfer them to a travel booking before you close the account.

Can I get approved if my credit score is below 740?

Approval below 740 is possible but unlikely. U.S. Bank looks at your full credit profile, not just your score. If you have a short credit history, recent missed payments, or high debt relative to your income, approval is less likely even with a score above 740. If you are denied, you can reapply after six months if your credit situation has improved.

Is the Priority Pass lounge access worth the annual fee?

Priority Pass membership alone is worth $100 to $200 per year if you use lounges regularly. If you fly at least four times per year and use lounges on most trips, the lounge access helps justify the card. If you fly once or twice per year, lounge access is a bonus but should not be your main reason for getting the card.