U.S. Bank Altitude Reserve

Pros

• High 3x earning rate on mobile wallet purchases (Apple Pay, Google Pay, etc.).
• Visa network allows for use at Costco and Costco Gasoline.
• Simplifies credit card setups by acting as a 'catch-all' for any merchant accepting mobile payments.
• Historically offered a high 4.5% effective return on travel redemptions.

Cons

• Significant 'nerf' to redemption value, moving from a fixed 1.5cpp to variable or lower rates.
• The $325 annual credit is now restricted to the U.S. Bank travel portal, which users report is often more expensive than direct booking.
• Introduction of caps on mobile wallet earnings.
• Loss of the 1.5cpp 'Real Time Rewards' (RTR) feature for easy, high-value redemptions.

Caveats

• Many users are currently planning to cancel or product-change (PC) to the Altitude Connect due to these changes.
• Future competitiveness may depend on yet-to-be-announced travel transfer partners.
• The card's value proposition has changed rapidly, making older reviews of its 'GOAT' status potentially obsolete.

Best for

• Heavy mobile wallet users who still value a 3% return.
• Costco shoppers looking for a high-earning Visa card.
• Expats who rely on mobile payments globally.

Avoid if

• You prefer booking travel directly rather than through a bank portal.
• You were primarily interested in the 4.5% effective cashback rate.
• You do not use mobile wallet for the majority of your daily spending.