Update 8/1/25: This is now confirmed at this link and in an email sent out today: 1) redemptions against travel is down to 1 cent-per-point; 2) $325 travel credit only works on Travel Center bookings, not on all Travel and Dining as before; 3) mobile wallet purchases only earn 3x on up to $5,000 each billing cycle. Changes effective on December 15, 2025.
Original Post 7/28/25:
There is an official looking image circulating showing negative changes to U.S. Bank Altitude Reserve.
- Card will earn 10x points on hotel and car rentals and 5x points on flights booked using the U.S. Bank travel center
- Ability to transfer points to other loyalty programs
- 5% discount on gift card redemptions
- Card will earn 3x on mobile wallet purchases on the first $5,000 each billing cycle, then 1x
- Points will be worth 1¢ when redeeming against travel (currently 1.5¢)
- $325 annual credit can only be used for travel through the travel center (previously available on all travel and dining purchases)
Our Verdict
Not surprised that this is being nerfed, but still disappointing. The addition of the travel transfers could make up for the fact that points will only be worth 1¢ but that depends on the travel partners.
Hopefully the $325 credit isn’t too annoying to use…
P2 annual fee hit July 10. Called and no retention offer, and worse yet, was told there were no product changes possible (card has been open for multiple years)
USBAR was the first ultra premium credit card I opened and the only one that’s been an easy decision to keep open every year. The card has actually gotten better over time with the addition of dining to the $325 annual credit, an increase in bonus points offers for spending on certain categories, and double cash back days for card linked offers. When I didn’t want to deal with the limited options of transfer partners this card shown above all others.
Very sad to see these changes. I seriously doubt their travel portal will have the weight of Cap One, Chase, Citi, or AMEX to offer any kind of premium booking benefits and I’ve had the worst website experiences with them compared to other banks. I don’t want another travel portal credit and definitely not through their website. Boo.
With this now the least they can do is allow to pool points from the Altitude Connect and Go and probably maybe some other cards
this is a big nerf, but at the end of the day, after everything else happening in the industry, what’s the better alternative? exactly, not much.
even though this was a travel card, RTR made it so easy that people treated it like a cashback card, and 4.5% was legit OP.
now, just like every other premium travel card out there, there’s some hoop to jump, whether it’s hunting for better than 1cpp, dealing with travel portals, coupon books, fine print on incidentals, etc.
for many people, 3% on everything tap for an effective $75 annual fee is still better than all the other alternatives.
Got the email for this card this morning. Just as stated.
Got the nerfed Smartly visa snail-mail letter yesterday. I get to keep 4% with brokerage balances (for now, I guess).
I’ll have to evaluate after a year if this card is still a keeper I guess. I mean 5k/month through mobile wallet is plenty for most normal people, and 3% is still better for most “normal” people.
That makes Smartly a better card for me in the US since mine got only partially nerfed. Got my letter today and they will be counting my Roth IRA towards the 100k deposit balance requirement. Unfortunately Smartly has international transaction fees…
So looks like Smartly is going to be my daily driver in the US now while Altitude will be my daily driver abroad. After a year I’ll have to evaluate if Altitude is still worth the annual free considering reduced benefits.
>I mean 5k/month through mobile wallet is plenty for most normal people, and 3% is still better for most “normal” people.
With a $400 annual fee though? If $5k/month is “plenty” then you’re not maximizing the card value. If you value the new hoops for the $325 credit at $325 (dubious) it’s still hard to see this paying for itself.
> Altitude will be my daily driver abroad
Why? You’re getting only 1% on non-travel purchases. Use Fidelity’s 2% card.
Or park your 100k in BOA and get 2.625%/3.15% on everything
Tap to pay is ubiquitous in many foreign countries, effectively making the USBAR a 3%/4.5% on everything card (not just travel).
Reward redemption changes
Current value for Travel: 10,000 points are equal to $150. Effective 12/15/25, you’ll get the most value when you redeem points for travel or as a deposit to an eligible U.S. Bank account, at $0.01 per point—where 10,000 points are equal to $100.
“you’ll get the most value when you redeem points for travel…at.01.
NO, I got the most value with .015. Duh.
I worked at this bank for over 20 years, and it used to be a great place. Unfortunately, the current management feels like a room full of clowns. They’re struggling to grow the business, nickel-and-diming consumers, and trying to show profits to shareholders by laying off loyal employees.
Technology is a mess, and product launches are laughable at best. The CEO seems clueless, agreeing to anything like a kid without understanding the consequences.
We loved our Altitude Reserve card and the bank, but sadly, it looks like both are headed straight for the trash can.
These are huge/negative changes that fundamentally change the value of the card you paid a significant annual fee for.
If US Bank will not refund your annual fee, you should complain to your state regulator about it. In California, the DFPI is quite aggressive and has a huge mandate duplicating the SEC and CFPB for CA residents. Consider filing a complaint and get your money back.