US Bank has announced that they have taken over the AAA card portfolio from Bank of America who used to issue and manage these cards (US Bank has also purchased the $500 million back book from existing cardholders). There are two cards that they will be issued that have the following reward structures:
US Bank AAA Dollars Plus
- Cardholders can earn 3 percent on qualifying net AAA purchases and travel, 2 percent on qualifying net gas, grocery and drug store purchases, and 1 percent on qualifying net purchases everywhere else.
- The card has no annual fee, and no foreign transaction fees will be charged on purchases abroad
US Bank AAA Dollars
- This attractively priced card currently offers a low introductory APR, while having a competitive go-to rate.
- The cardholder earns 1 percent rewards on all qualifying net purchases.
- The card has no annual fee
Our Verdict
These cards aren’t attractive at all from an earning, redeeming or sign up bonus perspective, so the change of issuer doesn’t really make any difference. When Bank of America issued the cards they could’ve been slightly useful due to the preferred rewards program, but that is now no longer the case.
