Elan Financial Services, part of U.S. Bank, plays a pivotal role in issuing and servicing credit cards for a multitude of smaller banks and credit unions. These institutions often team up with Elan to handle everything from marketing and underwriting to the card’s actual design.
For consumers holding these cards, things may get a little tricky. Even if your card features your local bank’s branding and you initiated the application process with them, the true issuer is Elan. This means any management tasks related to your card, such as making payments or redeeming rewards, will likely require you to use Elan’s dedicated website instead of the one provided by your local bank.
Elan collaborates with many financial entities across the country, often applying similar “template” designs to their credit card offerings. As a result, you might discover that a credit card from your credit union in California is exactly like one issued by a bank in Baltimore, despite different names and designs.
Despite these uniformities, Elan’s credit cards are competitive, occasionally mirroring some popular U.S. Bank cards. Their range includes cash-back cards, travel options, co-branded versions, and secured cards. Some common offerings that smaller banks and credit unions might present are:
– Visa Signature Everyday Rewards+ Card
– Visa Signature Travel Rewards+ Card
– Visa College Real Rewards Card
– Visa Max Cash Secured Card
– Visa Infinite Reserve Rewards+ Card
– Visa Signature Max Cash Preferred Card
– World Mastercard Everyday Rewards+
– World Elite Mastercard Travel Rewards+
– Mastercard College Real Rewards
– Mastercard Max Cash Secured
– World Elite Mastercard Reserve Rewards+
– World Mastercard Max Cash Preferred
Delving into Elan’s portfolio, here’s what some of these cards bring to the table:
### Fidelity® Rewards Visa Signature® Card
Surprise—this card doesn’t come from Fidelity but from Elan. It’s one of those rare credit cards offering an unlimited 2% back on every purchase. However, to reap that 2%, you must redeem benefits into an eligible Fidelity account like a Roth IRA or 529 college savings plan. If you’re already with Fidelity and wish to grow your investments, this card could be perfect. It also includes car rental coverage and a credit every four years for Global Entry or TSA PreCheck—all without an annual fee.
### Secured Visa
Elan’s Secured Visa is pretty standard in the realm of secured credit cards. It doesn’t come with an annual fee or penalty APR but doesn’t earn rewards either. A $300 minimum security deposit is needed to open an account—up to $5,000 max. For comparison, many secured cards only ask for a $200 deposit, and some even offer rewards.
### Visa College Real Rewards
Cards focused on building credit don’t usually offer luxurious perks, and the Visa College Real Rewards card exemplifies this. With no annual fee, it modestly rewards you with 1.5x points per dollar spent and 5x points on hotel and car rentals booked through the Rewards Center. Currently, it provides a small $25 bonus after your first purchase.
Rewards can be turned into cash back, gift cards, merchandise, or travel options.
### Visa Infinite Reserve Rewards+ Card
This card is akin to the U.S. Bank Altitude™ Reserve Visa Infinite® Card, even though the Altitude Reserve is no longer open to new applicants. You could snag a comparable product from Elan Financial if you qualify.
The Visa Infinite Reserve Rewards+ card comes with a hefty $390 annual fee but compensates with numerous travel perks, such as:
– 6x points on airline tickets, hotel bookings, and car rentals via the Rewards Center (and 2x on other purchases).
– A $100 annual travel credit for bookings through the Rewards Center.
– A Global Entry or TSA PreCheck credit every four years.
– Complimentary 12-month Priority Pass Select Membership, offering eight free visits to over 1,600 airport lounges.
– No foreign transaction fees.
– Lost luggage reimbursement.
– Up to $20 per month in statement credits for spending in categories like sports and fitness, personal care, entertainment, dining, and more.
At the time of writing, this card offered a 50,000-point sign-up bonus for spending $4,500 in the first 90 days. Redeem rewards for travel, cash back, gift cards, or merchandise.
### Visa Max Cash Preferred
This card bears a strong resemblance to the U.S. Bank Cash+® Visa Signature® Card. Both avoid annual fees and boast similar rewards structures, although the categories differ slightly. The Visa Max Cash Preferred offers:
– 5% cash back on up to $2,000 in combined spending each quarter across two categories you select from a list of nine. Options include services like TV, internet, streaming, fast food, cell phone, department stores, utilities, furniture, electronics, and entertainment.
– 2% unlimited cash back on one everyday category you choose per quarter, such as groceries, restaurants, EV charging, or gas stations.
– 1% cash back on all other purchases.
You can redeem rewards as deposits into a checking or savings account or as statement credits, although there’s a $25 redemption minimum.
