In U.S. Bank Altitude Reserve VISA Infinite related news, it seems that U.S. Bank is closing accounts. Strictness deviates from those that are “abusing” the 3x Rewards utilizing Mobile Payments (Apple Pay, Android Pay, Samsung Pay, and Microsoft Wallet up to 4.5% in worth) through buying and liquidating gift cards, otherwise known as “Manufactured Spending.”Necessary to note that in a FM interview, a rep did say specifically that buying a few $500 gift cards is fine as long as they aren’t doing many on the same day, however, there has been plenty of substantiated situations that led to customers having their accounts closed unreasonably. Be sure to read on for more details.
Gift Cards with Altitudes 3x In-Depth:
Not really a surprise since U.S. Bank is known for constantly ‘nerfing’ their cards rewards structure and in all possibilities, this may serve as a beacon for more limitations to come, however, I do feel that their faulty practices lies in being so strict on people buying a few gift cards without giving any further warnings or transparencies within the limits.
Note that when I mean “few gift cards” I mean 2 gift cards in a week, which evidently triggered a shutdown, so I urge all of you who consider MSing gift cards or MSing in general with your Altitude Reserve, to watch your accounts and especially limit yourself to a gift card every now and then. Reportedly, you won’t be able to get away with mixing credit cards with other items.
In past post, I have mentioned countless times just how rewarding the 3x on mobile wallet payments really was, on top of a pretty swell sign-up bonus, keeping the card long term was overall achievable. Comparative to a 2%-3% cash back card, you would need to spend $2,343+ on mobile wallet payments or travel a month to maximize the card enough that it’s significantly better than the 3% (Alliant Cashback Visa® Signature) or $1,406.10 in spend to do better than a 2% card (Fidelity Rewards Visa Signature). This is some significant spending for some of us, however, it’s safe to say that with the casual gift card MS thrown in, it’s definitely do-able. If you’re a frequent traveler, the $400 annual fee is definitely worth it, especially with the 50K sign-up + $325 in travel credits. It’s to your moral decision whether keeping this card for longer is worth it to you or not.
U.S. Bank Altitude Reserve Card Features:
- 3X points on travel
- 3X points on all mobile payments (This only includes NFC transactions)
- 1X on everything else
- $325 Annual Travel Credit PER cardmember year – purchases made directly from airlines, hotels, car rental companies, taxis, limousines, passenger trains and cruise lines are eligible.
- 12 free gogo wifi passes
- Airport Lounge Access – Limited to four visits/four guests visits each membership year.
- TSA Pre-check – Up to a $100 credit towards either service once every 4 years.
- Black car and car rental service – 15% discount and $30 off first ride
- Silvercar discount – When you rent an Audi A4, you won’t have to deal with lines or paperwork from your designated airport location in select cities. Also, you’ll receive a discount of up to 30% on rentals of two days or more.
- Rent an Audi A4 with no lines or paperwork from airport locations in select cities and receive a discount of up to 30% on rentals of two days or more.
- Visa Infinite Concierge service and more
- Custom Engraved Metal Card
- Annual fee is $400 for the primary cardholder and $75 for authorized users.
Conclusion:
U.S. Bank is cracking down on Manufactured Spenders that “abuse” the system in a means of buying frequent gift cards. They will not notify you of any warnings, so if you’re out there utilizing that 3X mobile wallet category on your gift card MS needs, I recommend that you keep a close watch on your account. I can’t imagine getting a credit card closed for something I see so minuscule, however, it’s 2017, and there’s nothing I can really expect anymore. Strange practice from U.S. Bank with not even warning customers first so I really do hope they release a statement on this. Find out which card is right for you by checking out our complete list of Credit Card Promotions today!
