The Ameriprise Premier Visa Signature credit card earns 2 Rewards Points per $1 on eligible net purchases, and what those points are worth depends on where you send them. Redeem into an eligible Ameriprise account and Ameriprise puts the value at 2.5% cash back, with no caps and no categories. Redeem for a statement credit and the value drops.
The card carries a $150 annual fee, waived for Achiever Circle Elite clients, and a welcome offer of 15,000 bonus points after $1,500 in eligible purchases in the first 90 days. Ameriprise says the card is "designed exclusively for Ameriprise clients" and that it "takes you further, faster." Here's what the Ameriprise Premier Visa Signature card page says in its fine print, and who it suits.
What the Ameriprise Premier Visa Signature Card Earns
The earning side is simple: 2 Rewards Points per $1 on eligible net purchases. Net purchases means purchases minus credits and returns. Ameriprise says the 2.5% cash back value comes with no caps and no categories.
Some transactions don't count as purchases at all. Ameriprise's examples are convenience checks, balance transfers, advances (including ATM withdrawals, wire transfers, traveler's checks, money orders, foreign cash transactions, betting transactions and lottery tickets), interest charges and fees, credit insurance premiums, and transactions to fund certain prepaid cards, buy currency from the U.S. Mint or buy cash convertible items. You also can't use the card to purchase investments or securities.
Points that aren't redeemed expire five years from the date they post, on a first-in, first-out basis. If the account is closed to future transactions, you lose all your points.
How the Two Redemption Values Work
This is the part that matters most, because the two cash options value a point differently: $0.01 as a statement credit and $0.0125 into an eligible Ameriprise account.
Statement credit: 1 Rewards Point is worth $0.01. The minimum is 10,000 points, and above that you redeem in 100-point increments. Ameriprise says 10,000 points are worth $100 and 30,000 points are worth $300 this way.
Cash back into an eligible Ameriprise account: 1 Rewards Point is worth $0.0125, which Ameriprise describes as 25% more cash back value than a statement credit. Redemptions happen in 30,000-point increments, and 30,000 points are worth $375. Ameriprise's own example: spend $15,000 on eligible net purchases, earn 30,000 points, and redeem them into an eligible account for $375.
Which accounts qualify decides the value, and Ameriprise points to its Rewards Program Terms and Conditions for details. The card page names Ameriprise Active Portfolios investments, Ameriprise SPS Advantage accounts, the Ameriprise ONE Financial Account, Ameriprise Brokerage accounts and Cash Reserve Certificate accounts, among others. Accounts must be held individually, jointly or by revocable living trust within your primary household group.
Individual Retirement Accounts, other retirement plans and 529 plans aren't eligible for the cash back deposit at all. Neither are accounts held by corporations, partnerships, irrevocable trusts or other entities. Ameriprise also says the list of eligible accounts may change at any time. Points can also go toward gift cards, merchandise and travel, at different values.
The Welcome Offer and Its Fine Print
New cardmembers earn 15,000 bonus Rewards Points after spending $1,500 in eligible net purchases within the first 90 days of account opening. The points land 6 to 8 weeks after the 90-day period ends.
Two conditions to know before you apply. Your ability to earn the bonus depends on your credit limit, and existing and previous Ameriprise Visa cardmembers aren't eligible. The 15,000-point bonus is smaller than the 30,000-point increment an Ameriprise account redemption requires, so you'd need more points before you could redeem into an account.
Travel Benefits and the $150 Fee
The benefits list leans toward travel:
- No foreign transaction fees
- A 12-month Priority Pass Select membership, which Ameriprise calls a $99 value
- Trip Delay Reimbursement, plus Trip Cancellation and Interruption coverage
- Baggage Delay Reimbursement
- Purchase Security with Porch Piracy Protection
The Priority Pass fine print is worth reading. You enroll at prioritypass.com/ameriprise, enrollment with no membership fee is limited to one cardmember per account (authorized users included), and you must use the card to purchase lounge entry. For the travel protections, you have to pay for the trip with the card. Full terms sit in the Guide to Benefits, with one page for Priority Pass and one for the travel and purchase protections.
The $150 annual fee is waived if you're recognized as Achiever Circle Elite in the Ameriprise Achiever Circle on your cardmember anniversary date. Status at other times in the year, or in later years, doesn't count, and Ameriprise reserves the right to change or end the waiver. If you're not sure where you stand, Ameriprise points you to your financial advisor.
Who This Card Suits
This card is built for Ameriprise clients who hold an eligible account, such as a brokerage or ONE Financial Account, and want their card rewards deposited there. Those clients get the full $0.0125 per point.
It suits Achiever Circle Elite clients best, since they skip the $150 fee as long as they hold that status on their anniversary date.
It doesn't suit someone whose only Ameriprise money sits in an IRA or 529, since those accounts can't receive the higher-value redemption. Ameriprise designed the card exclusively for its clients, so if you aren't one, our guide to the types of credit cards and what each is best for compares cash back cards with travel and co-brand cards, and our Citi Double Cash review looks at a no-category card from a major issuer. Our Bank of America Premium Rewards card review covers another bank card that ties its value to an existing banking relationship.
What to Do Next
If you're an Ameriprise client, start by checking two things: whether your accounts are on Ameriprise's eligible list for the cash back deposit, and whether you'll hold Achiever Circle Elite status on your anniversary date. Those two answers decide whether your points are worth $0.0125 or $0.01 each, and whether you pay $150 a year.
If you've held an Ameriprise Visa before, the welcome bonus isn't available to you. You can apply online, check whether you're pre-approved on the Ameriprise site, or call 1.800.736.7523. Lift any credit freeze before you apply.
