My USBAR Plan

The US Bank Altitude Reserve (USBAR) was nerfed (widely reported) back in December when the Real-time Rewards (RTR) was reduced to 1 cent vs. 1.5 cents.  You still get 3x points for Apple & Google Wallet purchase, but you used to be able to redeem the points for 1.5 cents each for travel and a few other categories.  I always redeemed my points for Uber rides.  Put the 3x & the 1.5 cents together, and I was getting 4.5 cents per dollar!

Now, it’s just 3 cents per dollar.

US Bank is still advertising that transfers to Airlines & Hotels is “coming soon”, but it’s been coming soon since December.

My Annual Fee posts in a couple of days, so here’s my plan:

Call for a Retention offer.  I’m hoping to get at least 5,000 points ($50).  The Annual Fee is $400, and there is a card-member year travel portal credit of $325.  So if I get that $50, I’m only paying $25 for a 3% cashback card, with some possible upside if the transfers ever come through.

After the (hopefully successful) Retention call, I’m going to use my $325 Travel Credit to book the flights for the Points & Miles Conference.  I’ve already checked, and I can find decent flights on American for around $550 and will use my points for the cost above the $325 travel credit.

We use the USBAR almost exclusively at Costco.  My wife goes there almost every week and pays using Apple Pay.  I considered alternative Visa cards in my collection but couldn’t find anything that readily paid more.  The best option was the Ink Unlimited at 1.5 points per dollar.  If I valued the Ultimate Rewards points at 2 cents, then it’s a wash.  But I like the idea of some cashback in my rewards portfolio, with some upside if US Bank ever comes through with transfer partners.