U.S. Bank Altitude Reserve Retention Offer and Downgrade Path

What is a retention offer?

A retention offer is something credit issuers typically offer to customers who want to close their credit cards (after the first year). The cards usually have an annual fee, and the retention offers can range from waiving the annual fee, points, or statement credits. 

U.S. Bank Altitude Reserve retention offer

I've had the U.S. Bank Altitude Reserve for over a year, and I was curious if there were any retention offers available. 

Retention offers can vary based on your spend, and they can range from 5,000-10,000 points. My retention offer was only 5,000 points because I received a courtesy adjustment a few months ago of 5,000 points. This leads me to think that they have a reserve of 10,000 points per the calendar year to keep the customer happy. 

As a side note, I received 5,000 courtesy points because I was <1,000 short for a redemption I wanted to make on their travel portal.

I'm happy with a 5,000 retention offer because U.S. Bank Altitude Reserve points are valued at 1.5 cents per point (CPP).

How to get a retention offer

  1. Call the number on the back of your U.S. Bank Altitude Reserve card
  2. Let them know you're interested in canceling
  3. Ask for a retention offer

You can view credit card offers by going to the "Credit Card Offers" tab. Find offers for the respective cards in "Travel Rewards Credit Cards." You don't have to use our links, but we're grateful when you do. Thank you for supporting AskSebby!

Real-Time Rewards

One of the main benefits of the U.S. Bank Altitude Reserve is that you can text them to make a travel reservation via Real-Time Mobile Rewards. This means that you can use a third party site like Expedia, and then text U.S. Bank and let them know you want to use points. 

You get 1.5 CPP (many) airlines, hotels, and car rentals.

This means that if you the travel charge is $450, you can use 30,000 points; if the cost is $150, you can use 10,000 points.

Learn more about Real-Time Rewards here

Is the U.S. Bank Altitude Reserve retention offer worth it?

The U.S. Bank Altitude Reserve has an annual fee of $400, and the $325 travel credits are easy to use. The net annual fee comes out to be $75. 

US Bank Altitude Reserve

  • Annual Fee = $400
  • Travel Credit = $325
  • Net "Real" Annual Fee = $75

With a 10,000 point retention offer, you're coming out by $75 since the points are worth 1.5 CPP. 

Should you downgrade the U.S. Bank Altitude Reserve?

I called customer service on four different occasions and was told that the U.S. Bank Altitude Reserve does not have a downgrade path.