U.S. Bank Altitude® Reserve Visa Infinite® Credit Card review: an underrated but not understated luxe travel card

The Chase Sapphire Reserve is one of the top premium travel cards, offering the best travel protections and excellent all-around luxury benefits. However, the $550 annual fee is much higher than the Altitude Reserve. You’ll get a $300 flexible travel credit annually, but this is smaller than the Altitude Reserve’s credit, which also covers dining expenses.

However, according to Bankrate’s valuations, Chase Ultimate Rewards points are worth around 2.0 cents each, while the U.S. Bank Altitude Reserve only earns 1.5 cents per point at best. You can also combine points from other Chase Ultimate Rewards cards and have access to Chase’s transfer partners, giving additional value to both earning and redeeming points. The Altitude Reserve is a better choice for mobile wallets and paying yourself back for travel purchases, but the Sapphire Reserve is generally considered a better overall card.

The Capital One Venture X card is similar in price to the Altitude Reserve. However, the $395 annual fee is much easier to offset (See Rates & Fees) with the $300 Capital One Travel annual credit and 10,000 anniversary bonus points (worth $100) the card offers. It also earns a flat rate of 2X miles on eligible purchases but doesn’t have bonus categories outside its travel portal. The Venture X also wins out in some travel benefit areas, such as airport lounge access.

Bankrate values Capital One miles at roughly 1.0 cents each, less than the Altitude Reserve's potential of 1.5 cents. However, Capital One offers transfer partners and can redeem points in any amount for travel purchases made within 90 days, which is much more flexible than the Altitude Reserve. While you may get better rewards on mobile wallet purchases and better point value through Real-Time Rewards, the Venture X is a more versatile premium travel card.

Merchant category coding is more inconsistent internationally, meaning purchases may not trigger reward multipliers like you think they should. However, with mobile wallet use growing significantly, you can take the guesswork out and get consistent reward rates while traveling internationally.

As of the few cards offering bonuses on mobile wallet purchases, people who utilize this payment method can earn bonuses on various purchases that wouldn’t otherwise earn extra rewards.

The primary criteria for a rewards or cash back card’s rating is its rewards value. This includes the card’s average rewards rate, estimated annual rewards earnings, sign-up bonus value and reward redemption value.

To estimate a card’s average annual rewards earnings, we first calculate its average rewards rate based on how much it earns in different bonus categories and how closely its categories align with the average person’s spending habits, according to the Bureau of Labor Statistics (BLS).

The most recent BLS data estimates average total spending in 2023 was $77,280 per consumer. We then narrow our focus to which purchases are likely to be put on a credit card and earn rewards, subtracting expenditures like housing, vehicle purchases and education. This gives us a total “chargeable” annual spend of around $22,500.  

Some of the major spending categories that contribute towards the annual spend include:

• Groceries: $6,000
• Dining out: $3,900
• Entertainment: $2,500
• Gas: $2,400
• Apparel and services: $2,000

Using this data, we assign a weighting to each of a card’s bonus categories. For example, a card’s grocery rewards rate receives a 26 percent weighting based on how much of the average person’s budget is spent on groceries. We also estimate the redemption value of points or miles from various issuer, airline and hotel rewards programs.

This weighting and rewards valuation allows us to estimate a card’s average annual rewards earnings — how many points or miles you’d earn with a given card if your spending was about average and you used the card for all of your purchases, as well as what those points are worth. We also use point valuations to determine a card’s sign-up bonus value.

With these calculations complete, we assign each card a score based on how its average rewards earnings, sign-up bonus value, rewards rate and redemption value stack up against other rewards cards.

We also rate cards based on how much it costs to keep them in your wallet or carry a balance. 

To start, each rewards or cash back card is scored based on whether it offers an intro APR and how its ongoing APR compares to the rates available on other rewards or cash back cards. 

We also score each card based on how its annual fee influences its overall value. 

We consider a card’s annual fee in two ways — how it ranks relative to the fees you’ll find on other cards in the category and how it impacts a card’s overall rewards value. Cards with an annual fee will always be at a slight disadvantage in our scoring system since annual fees inherently cut into your rewards value, but if a card offers terrific value via its ongoing rewards and perks, it can earn a high score even if it carries a high annual fee. 

With this in mind, we rate a card based primarily on how its ongoing rewards value and ongoing perk value (such as annual credits or bonuses) stack up against other cards in the category when you subtract its annual fee.

We rate each card’s flexibility based on the restrictions it imposes on earning and redeeming rewards and factor this rating into a card’s overall score. 

Flexibility factors include whether a card only allows you to earn a high rewards rate on a small amount of spending or requires you to meet a certain earning threshold before you can redeem rewards. We also examine whether your points are worth less when you redeem for some options versus others and whether a card gives you the flexibility to transfer rewards to airline and hotel partners. 

We also score each card’s set of features – its perks and benefits — against five tiers of features to provide a rating. 

We break down these tiers as follows:

• Tier 1 has less than standard card features (an ultra-streamlined card that offers basic utility and next to nothing in the way of ancillary benefits. 
• Tier 2 includes the benefits you’d expect on standard Visa or Mastercard credit cards, such as free access to your credit score, car rental insurance and $0 liability for fraudulent charges. 
• Tier 3 includes “prime card” or better-than-average card features like cellphone insurance, lost luggage insurance, concierge services and purchase protection. 
• Tier 4 includes luxury features such as airport lounge access, elite status with an airline or hotel and credits for expedited security screening membership programs. 
• Tier 5 includes the sort of exemplary benefits you’ll find on top-tier luxury cards, such as high-value travel credits, cardholder memberships and other unique and valuable perks.

When the card is available for new applications, an excellent credit score (FICO score of 740) is recommended. Achieving this score is possible if you have kept a good standing on your previous cards, never missed a payment, and have good credit utilization.

Purchases directly from U.S.-based merchants that classify themselves as travel fall within this category, including airlines, hotels, car rentals, taxicabs, limousines, passenger trains and cruise line companies as travel. 

Your credit limit can range from $1,000 to $25,000, depending on your creditworthiness. Considering the high credit score needed for approval, cardholders are likely to receive a credit limit on the higher end of the range.