#1 Among Other
Point Value
1.0 ¢
Program Score
4.7
U.S. Bank Rewards offers straightforward redemptions, but if you have an Altitude Reserve, you can unlock additional value through transfer partners.
U.S. Bank rewards work differently depending on which card you hold:
For many U.S. Bank cards, rewards are worth 1 cent per point whether redeemed for travel or cash back. That means you should generally choose the card with the strongest signup bonus and the best earning structure for your spending.
Booking through the travel portal is not especially valuable when you can redeem at the same rate for cash back and book travel directly without portal restrictions.
Special Offers Related to U.S. Bank Rewards. Click the arrow to see more.
August 15 update: Flying Blue is back. Qatar is still missing after the original announcement, though. We will keep updating as we receive more information.
August 13 update: There has been no official announcement from U.S. Bank, but Qantas and Flying Blue have been removed from transfer options. We'll update as more information comes in.
August 12, 2026: U.S. Bank has finally delivered on its long-promised addition of transfer partners. Altitude Reserve cardholders can now transfer points 1:1 to Air France-KLM Flying Blue, Qantas Frequent Flyer, and Ethiopian ShebaMiles, or 2:1 to ALL - Accor Live Limitless. Another transferable points currency is always welcome, but there's a major catch: The Altitude Reserve is currently the only U.S. Bank card with access to these partners, and it has been closed to new applicants since 2024. That makes this great news for existing cardholders but largely irrelevant to everyone else for now. We'll be watching to see whether U.S. Bank reopens the Altitude Reserve, adds transfers to other cards, or launches a new transferable-points card.
U.S. Bank is targeting some cardholders with an offer for $100 off a hotel booking of $500 or more through the U.S. Bank Travel portal. The offer is valid through September 30, 2026. If you have the Altitude Reserve and are targeted, you may be able to stack this with the card’s annual $325 travel credit, creating a much larger discount on an eligible hotel stay.
Amazon is moving its Amazon Business and Amazon Business Prime cards from American Express to U.S. Bank starting August 14, 2026. Existing cardholders have started receiving new cards from U.S. Bank, which run on the Mastercard network. You can no longer apply for the Amex versions of these cards. Most benefits will remain unchanged, including 5% back at Amazon for Prime members and 3% for those without Prime. The only minor change is to the annual spending cap. The higher earning rate will increase from $120,000 to $150,000. New applications for the U.S. Bank version are expected to return soon.
U.S. Bank has confirmed it stopped accepting new applications for the U.S. Bank Shopper Cash Rewards card on June 23, 2026. While we didn't generally recommend the card to points enthusiasts because U.S. Bank Rewards doesn't offer airline or hotel transfer partners, it did have a niche following thanks to its 6% cash back on up to $1,500 in quarterly purchases at two retailers of your choice. Existing cardholders can continue to keep and use the card with its current benefits.
There are several ways to redeem U.S. Bank rewards, depending on which credit card you hold. Most redemptions are worth 1 cent per point, but Altitude Reserve cardholders have an additional option through U.S. Bank's transfer partners.
U.S. Bank offers several cash back cards with useful category bonuses. Rewards can typically be redeemed for statement credits, deposits into an eligible U.S. Bank account, gift cards, or Real-Time Rewards. Most redemptions are worth 1 cent per point at best. These rewards cannot be used to book travel through the U.S. Bank portal, but you can redeem for cash back and use the money to book any travel you want.
U.S. Bank offers several cards that earn points rather than cash back, including its Altitude cards and the U.S. Bank Business Leverage card. Depending on the card, points can be redeemed for travel through the U.S. Bank travel portal or through other eligible redemption methods. Most redemptions provide a flat 1 cent per point in value, so the main advantage comes from the card's earning rates rather than outsized redemption value.
The U.S. Bank Altitude Reserve is the exception. Cardholders can transfer points to a small group of airline and hotel partners, creating the potential to get more than 1 cent per point in value. This benefit is limited to Altitude Reserve cardholders, and the card is currently closed to new applicants.
U.S. Bank has phased out its FlexPerks cards, and none are open to new applicants. Existing cardholders may still have FlexPoints that can be redeemed under the terms of their specific card, but FlexPerks is no longer a meaningful part of U.S. Bank's strategy for new applicants.
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U.S. Bank is best for travelers who have already built a strong foundation with transferable points programs such as American Express, Capital One, Chase, Citi, Wells Fargo, and Bilt. Those programs offer more transfer partners and generally provide more opportunities to get outsized value from your points.
U.S. Bank becomes more interesting if you have already taken advantage of the best opportunities from those programs or want a card with strong bonus categories that match your spending. The Altitude cards are generally the best place to start, while U.S. Bank's cash back cards can also make sense when their earning categories fit your spending habits.
The U.S. Bank Altitude Reserve is the exception for travelers focused on transfer partners. Cardholders can transfer points to a limited group of airline and hotel partners, creating the potential to get more than 1 cent per point in value. However, the card is currently closed to new applicants, making this benefit primarily useful for existing cardholders. We are hopeful that U.S. Bank has more planned after adding transfer partners to the Altitude Reserve in late summer 2026, whether that means reopening the card, expanding transfers to other cards, or launching new products.
You can receive an annual fee refund if you cancel or downgrade a U.S. Bank card within 30 days of the fee posting. Prorated refunds after 30 days may be available on downgrades, but data points are mixed.
U.S. Bank points are tied to individual cards, so have a plan for your rewards before canceling. Eligible Altitude points can be moved between certain accounts, while transfers to another person's Altitude account are limited to 20,000 points per year.
If you still hold an Altitude Reserve, we would be hesitant to close it now that it has transfer partners. If you do cancel, consider redeeming or transferring your points first since closing the card also eliminates access to those partners.
For most U.S. Bank rewards, 1¢ per point is the standard value and you generally shouldn’t redeem for less. The best value is almost always gained by transferring points to airline or hotel partners, but the Altitude Reserve is the only card with that capability, and it's currently closed to new applicants.
Yes. Many U.S. Bank rewards can be redeemed as a statement credit, typically at 1¢ per point. This is a simple option if you prefer cash-like value over travel redemptions.
Cash is usually the better option because it typically gives you 1¢ per point and can be used however you want. Gift card values can vary, so check the redemption rate before using points that way.
For most U.S. Bank cards, 50,000 points are worth about $500 at a 1¢-per-point redemption rate. Altitude Reserve cardholders may be able to get significantly more value by transferring points to travel partners.
Tracking Points & Transfer Options
