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The changes below have taken effect, and this post is no longer being updated. Here is our archive of major updates from card issuers and loyalty programs.
We've got good news and bad news about the U.S. Bank Altitude® Connect Visa Signature® Card. Some benefits are going away, while others are being added. All of this is happening on September 9, 2024, so let's take a look at the changes to help you re-evaluate this card and whether it fits in your wallet going forward.
U.S. Bank Altitude Connect Changes
According to a press release from U.S. Bank, the changes will take effect on September 9, 2024. On that date, the Altitude Connect will endure the following negative changes:
- $30 annual streaming credit: Presently, after paying for an eligible streaming service with your card for 11 months, this benefit kicks in. However, this benefit is ending, though you'll continue to earn 2X on streaming purchases with your card.
- Cell phone protection: You'll no longer receive up to $600 in coverage (with a $100 deductible) by paying for your monthly cell phone bill with this card. However, if you pay your August 2024 bill with the Altitude Connect, you'll have up to 60 days to file a claim.
- Unlimited 4X on gas and EV charging: This earning category will now have a cap of $1,000 per quarter before dropping to 1X earnings.
- Decreased value on non-travel redemptions: You'll continue to get 1¢ per point on travel redemptions in the Altitude Rewards Center. Other redemptions (Real-Time Rewards, cash back, and shopping with points) will now happen at 0.8¢ apiece. Moreover, there will be a $25 minimum when redeeming for cash back (3,125 points required).
Additionally, U.S. Bank has had exclusions for discount stores, supercenters, and wholesale clubs for both the grocery category and the gas station category — effective September 9, 2024. Those purchases will fall into the 1X on “other eligible purchases” category.
However, the Altitude Connect is gaining two perks:
- Elimination of the annual fee: Starting September 9, 2024, the long-term annual fee will drop from $95 to $0.
- Points match on charity donations: You'll receive a 100% points match when donating your points to eligible charities.
Other cardholder benefits — like Priority Pass, insurance protections, and an application fee credit for Global Entry or TSA PreCheck — remain unchanged.
Related: U.S. Bank Altitude Connect full review
Our Take
The removal of the annual fee on the Altitude Connect is likely to make a lot of people happy. It's interesting that the Altitude family will have two cards without annual fees (the other being U.S. Bank Altitude® Go Visa Signature® Card); will changes come to that card or other parts of the Altitude family? Time will tell.
However, to coincide with removing the annual fee on the Altitude Connect, U.S. Bank has removed some of the card's key benefits and softened the card's earning power. Once the benefits change, you'll need to take a fresh look at the card to see if it's still a keeper. Conversely, if you haven't applied for this card previously, you may want to decide whether pre-change or post-change makes more sense for you.
- 5X points on prepaid hotels and rental cars booked through the Altitude Rewards Center
- 4X points on other travel, including airlines, hotels, rental cars, cruises, taxis, trains, and limousines.
- 4X points at gas stations and on electric vehicle charging (on up to $1,000 in spending each quarter)
- 2X points at grocery stores, grocery delivery, dining, and streaming services
- 1 point on all other eligible purchases
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