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US Bank LANPASS Visa Card | Is This Card As Generous As It Can Be?

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You can use the US Bank LANPASS Visa Card to earn rewards points on every purchase you make. Most credit cards with rewards systems make cardholders purchase items or services from certain specified categories. Sometimes, double and even triple points are warded, but those point level;s are pretty much always reserved for very specific purchases. When you use your US Bank LANPASS Visa Card, you earn your rewards points based on the following structure:

  • You get I Mile point for every $1 you spend with the US Bank LANPASS Visa Card. This is for every purchase you make including groceries, fuel, entertainment, office supplies and everything else. There are no exclusions to list.
  • You’ll get up to 20,000 Miles points when you make your first purchase with the card. Of course, the actual amount you will receive will be dependent on how much that first purchase costs.
  • If and when you renew your card each year, you will receive up to 4000 points.

That about sums up the ways to earn points with the US Bank LANPASS Visa Card, but there’s still more value offered. You can also save up to 20% off of a TAM or LAN purchase, but just once annually. There is a maximum of $1000 of savings allowed on this one-time offer.

And then there’s the “Your Pass to South America Sweepstakes” that has loads of prospects signing up for the US Bank LANPASS Visa Card. Cardholders get one entry into the sweepstakes for every dollars spent with their cards. So, if you spend $100, you get entered into the sweepstakes 100 times. There will be three winners who will receive 100,000 bonus Miles. These bonus miles may be redeemed for travel to any destination serviced by LAN. Then, from those three, one will be chosen randomly to enjoy a trip for 2 to one of five South American vacation destinations. Here they are:

  • 3-night stay in Buenos Aires plus a 2-night stay in Mendoza, Argentina
  • 2-night stay in Santiago, Chile plus a 3-night stay in Atacama Desert, Chile
  • 2-night stay in Lima, Peru plus a 3-night stay in Cusco, Peru
  • 2-night stay in Bogota, Columbia plus a 3-night stay in Cartagena, Columbia
  • 3-night stay in Quito, Ecuador plus a 2-night stay in Guayaquil, Ecuador

As part of the victory, the Grand Prize winner will also be given round-trip airfare for 2 from anywhere LAN services. The hotels included will be double-occupancy and will be either 4 or 5-star rated. There will also be a $2500 Visa prepaid gift card included with the trip. That’s not bad at all – but you have to think there will some some seriously astronomical odds of winning.

Fees and interest rates of the US Bank LANPASS Visa Card

There is no annual fee for the first year with the US Bank LANPASS Visa Card. After the first year, there will be an annual fee that falls between $25 and $75, to be determined when you get approved for the card. Foreign transactions will have fees assessed between 2% and 3%. Balance transfers will have an attached fee of $5 or 3% of the transaction amount, whichever is greatest. The fees for cash advances are either $10 or 4% of the transaction amounts, of course, again, whichever is more

The general APR for purchases made with the US Bank LANPASS Visa Card run between 9.74% and 16.74% above the variable prime rate. The exact rate you get will be dependent on several factors reviewed during the application process. The rates are the same for balance transfers. The APR for cash advances is 20.74% above prime, not bad when compared to various other credit cards that charge at least 25% for cash advances.

So let’s see here: with the US Bank LANPASS Visa Card, you get to earn bonus Miles points with every purchase you make. It’s only a 1% earning, but it is on every single item or service bought. You get a one-time 20% discount off LAN travel purchases. The fees and APRs are industry-competitive, but nothing spectacular. And you get entered into the South American vacation sweepstakes at the rate of one entry for every dollar spent. That all seems pretty good on the surface – but let’s dig a little.

1 Miles point for every dollar spent on the US Bank LANPASS Visa Card seems OK. But then, there are plenty of cards that offer the 1 point “on all other” purchases, and still offer double and even triple (or better) points on other, specified purchases. So 1 bonus Miles point per buck spent isn’t really so generous, at least not in my opinion.

The one-time discount on LAN traveling is, again, OK, but nothing special. Even though it has a maximum value of $1000, that amount will rarely be reached by anyone. It is a single-use offer with a $1000 maximum at 20%. That means that in order to actually save $1000, you would need to buy something from LAN that costs $5000. In reality, most people simply don’t purchase such large tickets very often. So, if you can find value in this single-usage offer, then this card may be a very nice fit for you. You can read all the details at the website to see if it’s for you or not.

Then there’s the sweepstakes entry enticement to consider. Every cardholder gets 1 entry for every dollar he or she spends. That means that the odds of winning this are going to be truly astronomical. So, for all that US Bank stands to gain, is the singular Grand Prize really that generous? From a company that generates multiple millions every year, is there an overload of generosity here? I think not.

In the highly competitive market of credit card issuing, a company has to find ways to stand out. There are hundreds of credit cards offered to prospective customers, all geared toward mass appeal – and all geared toward long-term and short-term profit generation. You have to remember that when these card issuers tell you all about the world of generosity they offer to you, the best benefits will always be theirs. The US Bank LANPASS Visa Card is respectable, but nothing fantastic.

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