Big Changes for US Bank Altitude Connect Card
🔃 Update: If your annual fee is coming up, call and ask them to waive it since it is going away in a few months. (HT: TheBigDonDom)
U.S. Bank has announced upcoming changes to the U.S. Bank Altitude® Connect Visa Signature® Card, effective September 9, 2024. The annual fee is going away, and there are a couple of negative changes. But the card is keeping the Priority Pass with restaurants, and Precheck or Global Entry credit. Let’s go over the full list of changes below.
Annual Fee
The $95 Annual Membership Fee on the U.S. Bank Altitude® Connect Visa Signature® Card will be removed.
Updated Rewards Earning
4X points at gas stations and EV charging stations through September 8, 2024, after that 4X on your first $1,000 each quarter (wholesale clubs, discount stores/supercenters and grocery stores excluded)
2X points on dining, streaming services and at grocery stores (discount stores/supercenters and wholesale clubs excluded effective September 9, 2024)
You will continue to earn 5X points on prepaid hotels and car rentals booked directly in the Altitude Rewards Center and 4X points on travel purchases.
Streaming Credit Going Away
The $30 credit for annual streaming service purchases will be discontinued. You will continue to earn 2X points on eligible streaming service purchases like Netflix, Apple TV+, Spotify® and more.3
Cell Phone Protection Going Away
The cell phone protection benefit will no longer be available with your card. You may submit a claim for cell phone in accordance with the terms in the Guide to Benefits. If you pay your cell phone bill with your Altitude Connect Card in August 2024, and damage of theft occurs in September 2024, you are eligible for coverage if you submit a claim within 60 days of damage of theft of the cell phone.
Rewards Redemption Devaluation
When you’re ready to redeem points, you’ll get the most value in the Altitude Rewards Center, at $0.01 per point for travel — where 10,000 points are equal to $100 toward flights, hotel stays, car rentals, and cruises.
When redeeming points for cash back, Real-Time Rewards, U.S. Bank Rewards Card, Shop with Points at Amazon.com and Pay with Rewards from PayPal, each point will be worth $0.008 which means 10,000 points will be worth $80. Minimum redemption for cash back will be 3,125 points which equals $25.
Redeem Points for Charity, Get 100% Match
New benefit: Points can be redeemed for a monetary charitable contribution across a variety of nonprofits and U.S. Bank will match your contribution at 100%.
Guru’s Wrap-up
There are some negatives in this announcement such as the streaming credit and cell phone protections going away, earning rates, and the devaluation of rewards from 1 cent to 0.8 cents.
But the U.S. Bank Altitude® Connect Visa Signature® Card will not have an annual fee as of September 9, 2024. The announcement also says that all other benefits remain unchanged. That means that this card will continue to offer Complimentary Priority Pass™ Select which includes 4 free visits (1,300 airport lounges and restaurants) and free TSA PreCheck® or Global Entry.
HT: Doctor of Credit
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