Move Over Amex, There’s A New Luxury Card On The Block

A new flash travel credit card is about to hit the market which may have American Express Platinum and other cards like Chase Sapphire Reserve doing a double take.

Travelers can also be excited as this card has some really nice perks that come with it.

U.S. Bank announced on Thursday that they will be releasing a new card called the U.S. Bank Altitude Reserve Visa Infinite Card. According to John Steward, the president of the bank’s retail payment solutions, this is a card that is “totally” competing with Chase JPM and AmEx.

“Consumers are learning it’s a smart thing to pay a bit to get a whole lot more,” Steward said.

With U.S. Bank’s new card, cardholders will get a bonus of 50,000 points when they sign up and spend $4,500 in the card’s first 90 days. Other perks include points being worth 1.5 cents when redeemed for travel. Cardholders also get a $325 annual travel credit. Travelers can purchase $325 anywhere and then be reimbursed.

U.S. Bank’s card also has a unique perk among its peer cards offering triple points on any purchase consumers make on their smartphones through a mobile wallet. This includes Apple Pay, Samsung Pay, Microsoft Wallet, and Android Pay.

Matt Schulz, a senior industry analyst at the credit card site CreditCards.com said,” There’s another caveat (and hook) for those who want to sign up for the new card. For now, it’s only available to consumers who have U.S. Bank accounts. Customers must have an eligible bank account open for a minimum of 35 days before applying.”