U.S. Bank Altitude Connect to Cut Annual Fee and Some Key Perks

The U.S. Bank Altitude® Connect Visa Signature® Card has been charging an annual fee of $0 intro for the first year, then $95. Going forward, the annual fee will be $0. This is a welcome change for anyone who prefers a rewards credit card with no annual fee.

Cardholders will still earn 4 points per $1 spent at gas stations and electric vehicle charging stations — but beginning Sept. 9, 2024, there will be a $1,000 quarterly spending cap on the 4X rewards.

The card will continue to earn 2 points per $1 spent on dining and streaming services, as well as at grocery stores. However, discount stores, supercenters and wholesale clubs will be eliminated from the grocery store category.

Previously, points were worth 1 cent each when redeemed in a variety of ways, including cash back in the form of statement credits. The redemption rate for statement credits will drop to 0.8 cents per point. Points will still be worth 1 cent apiece when redeemed for travel or charitable donations.

The U.S. Bank Altitude® Connect Visa Signature® Card is dropping both its cell phone protection benefit and its $30 annual credit for streaming services.

However, U.S. Bank is adding a 100% match when you redeem points to make a charitable contribution.

Following the changes, the U.S. Bank Altitude® Connect Visa Signature® Card will earn:

• 5 points per $1 spent on prepaid hotels and car rentals booked through the Altitude Rewards Center.

• 4 points per $1 on travel.

• 4 points per $1 on gas and EV charging (with the $1,000 quarterly limit mentioned above).

• 2 points per $1 on dining.

• 2 points per $1 on streaming services.

• 2 points per $1 at grocery stores (with the exception of discount stores, supercenters and wholesale clubs).

• 1 point per $1 on other purchases.