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The all-new U.S. Bank Altitude Go Visa Signature Card rewards takeout, food delivery and dining

U.S. Bank launched the new U.S. Bank Altitude Go Visa Signature Card, which caters to food delivery, groceries, streaming and gas spending. Here's what we know about the card.

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U.S. Bank is launching the new U.S. Bank Altitude® Go Visa Signature® Card today, June 8. This no-annual-fee card offers competitive rewards that cater to food delivery, groceries, streaming and gas spending.

The Altitude Go card is a cost-effective alternative to the U.S. Bank Altitude™ Reserve Visa Infinite® Card, which is geared toward travelers and comes with a steep $400 annual fee. Beyond a strong rewards program, the card also offers a streaming credit to offset a portion of the cost of your favorite digital subscription service, including Spotify and Netflix.

Below, CNBC Select breaks down what you should know about the new U.S. Bank Altitude Go Visa Signature Card's rewards, fees and benefits.

What you need to know: U.S. Bank Altitude Go Visa Signature Card

  • Rewards
  • Fees
  • Added perks
  • Bottom line

Rewards

Altitude Go cardholders earn 4X points on takeout, food delivery and dining, 2X points at grocery stores, grocery delivery, streaming services and gas stations and 1X points on all other eligible purchases.

The rewards you earn on takeout, food delivery and dining are right in line with the best dining rewards cards, many of which charge annual fees. For instance, the American Express® Gold Card offers the same 4X points when you dine at restaurants worldwide — but charges a $250 annual fee. (See rates and fees.)

In addition to rewards, new cardholders earn 20,000 bonus points when you spend $1,000 in the first 90 days from account opening when you open a card now through August 9, 2020.

You can redeem points for a statement credit, gift card, travel or merchandise, such as apparel and electronics. A U.S. Bank spokesperson confirmed that one point is worth a penny for all redemption options.

Fees

This card has no annual fee, which is a great way to save money considering that other rewards cards have fees upwards of $100. 

The Altitude Go card also comes with a 0% APR on purchases and balance transfers for the first 12 billing cycles you have the card. After that, a 14.99% to 23.99% variable APR applies. During this year-long period, you can benefit from no interest on new purchases that you may want to finance, such as furniture, and/or lingering debt on a high interest card. Keep in mind, there's a 3% balance transfer fee ($5 minimum), but it's often outweighed by the amount you save on interest.

There is also no foreign transaction fee, so you can use this card outside the U.S. and avoid the 3% fee other cards may charge.

Added perks

The Altitude Go card offers a few additional benefits that can save you money:

  • Annual $15 credit for eligible streaming service purchases, including Netflix, Hulu and Apple Music
  • Auto rental collision damage waiver
  • Roadside dispatch
  • Travel and emergency assistance services
  • Extended warranty protection

Bottom line

If you're looking to maximize rewards on your next takeout order or supermarket trip, you may want to consider opening the U.S. Bank Altitude® Go Visa Signature® Card. This no-annual-fee card offers competitive food delivery, dining and takeout rewards that are equal to or better than many other rewards cards that charge annual fees, such as the $95 annual fee Capital One® Savor® Cash Rewards Credit Card that offers 4% cash back on dining. The rewards coupled with the intro 0% APR period can provide you with a great way to offset the cost of everyday purchases and save on interest charges.

Don't miss:

For rates and fees of the American Express® Gold Card, click here.

Information about the U.S. Bank Altitude® Go Visa Signature® Card and the Capital One® Savor® Cash Rewards Credit Card has been collected independently by CNBC and has not been reviewed or provided by the issuers of the cards prior to publication.

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the CNBC Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.