U.S. Bank Altitude® Go Visa® Secured Card Review

US Bank Altitude® Go Visa® Secured Credit Card Review

The US Bank Altitude® Go Visa® Secured Credit Card was designed for people with poor credit to build a positive credit history. You need to make an initial security deposit of $300 to $5,000, and then, you can boost your score and earn for everyday spending. Your card limit equals your refundable deposit, which is held in a secured savings account.

US Bank Altitude® Go Visa® Secured Credit Card: pros and cons

Rewards system in a nutshell

The US Bank Altitude® Go Visa® Secured Credit Card has a tiered earnings system. For a secured card, the earnings system is quite lucrative.

You will earn, per dollar spent:

• 4x points on dining, takeout, and delivery
• 2x points at grocery stores, grocery delivery, streaming services, gas stations, and EV charging stations
• 1x point on all other eligible purchases

You will also earn a $15 streaming service credit after 11 months of streaming purchases, like Netflix or Hulu.

Once you have just 1,000 points, you can begin to redeem your rewards for:

• Merchandise like electronics, fashion, and sporting goods.
• Gift cards to leading retailers and restaurants.
• You can use Prepaid U.S. Bank Rewards Cards wherever debit cards are accepted..
• Charity donations across various charity organizations.
• Hundreds of airlines and thousands of hotels, car rentals, cruises, and activities.

Once you have 2,500 points, you can redeem them for:

• Cashback in the form of a statement credit to your account or convert as cash value to most U.S. Bank checking or savings accounts.

Who can benefit from getting the US Bank Altitude® Go Visa® Secured credit card?

The US Bank Altitude® Go Visa® Secured Credit Card was designed for people with poor credit. Generally, those with credit scores of 300 to 579 have poor credit, while those with 580 to 669 have fair credit. Anyone with a score below 669 would benefit from this card, as it gives you all the tools you need to succeed and build a positive credit history.

When you spend within your limit on everyday purchases and pay on time each month, you show lenders that you are a responsible borrower. US Bank reports to the three major credit bureaus each month, so, over time, your score will gradually increase. Once your score is high enough, you might be able to upgrade to the US Bank Altitude® Go Visa® Signature Card, where you will earn the same rewards but without a security deposit. If this happens, your deposit will get refunded to you.

It is important to note that this card is not the best for balance transfers. The balance transfer APR equals the regular APR at 29.99%, which will quickly accumulate lots of interest if you are slowly paying off debt. If you want to transfer a balance, you must pay a balance transfer fee of 3% of the transaction.

Are there any other benefits?

The US Bank Altitude® Go Visa® Secured Credit Card has other benefits:

• Choose your payment due date – You get to decide which day of the month to make your payment when signing up for your card to better fit your financial schedule.
• Zero fraud liability – You are never held responsible for unauthorized transactions if your card gets lost or stolen.
• Contactless payments – Enjoy an easy checkout with a tap to pay.
• Mobile Wallet – Add your card to your mobile wallet, like Apple Pay,Google Pay, or Samsung Pay to make checkout a breeze.
• Autopay – If you worry about missing a payment, enjoy enrolling in autopay to ensure your payment goes through on time each month.
• ID Navigator Powered by NortonLifeLock – Get access to various tools to help keep you aware of identity theft threats.

Conclusion

If you have never learned the ins and outs of credit and need help improving your credit score, the US Bank Altitude® Go Visa® Secured Credit Card might be suitable for you. As always, you should read through the fine print before making any financial decision, but this card can put you on the right track to rebuilding your score, no matter the situation. Although you have to put the entirety of your desired credit limit into a secured savings account, the tradeoff of improved credit is worth it.