What Is Elan Financial, and Are Its Credit Cards Right for You?

Elan Financial Services, a division of U.S. Bank, offers technical support to businesses, banks and credit unions. The company helps banks and credit unions launch their own credit cards, and also issues its own cards — many of which are similar to better-known U.S. Bank products.

As a credit card servicer, Elan manages everything from underwriting and marketing to designing the card itself.

Elan-serviced credit cards include several cash-back cards, some travel cards and a handful of secured cards, including the following consumer credit cards:

• Fidelity® Rewards Visa Signature® Card.

• 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.

Here’s a closer look at some of the credit cards that Elan issues or services.

The Fidelity® Rewards Visa Signature® Card belongs to a select group of credit cards that offer an unlimited 2% back on every purchase. However, as the card’s name suggests, you’ll only get that desirable 2% rate if you redeem rewards into an eligible Fidelity account such as a Roth IRA or 529 college savings plan. If you want to boost your investment portfolios and you’re already a Fidelity customer, the Fidelity Rewards Visa could be the right fit. The card also comes with car rental coverage, and a credit every four years for Global Entry or TSA PreCheck — all for no annual fee.

Elan Financial’s Secured Visa is standard fare as far as secured credit cards go. The Secured Visa has no annual fee and no penalty APR, but it doesn’t earn rewards. The minimum security deposit required to open the account is $300. (The maximum is $5,000.) Comparatively, many secured cards generally require only a $200 minimum security deposit, and some on the market also earn rewards.

Credit-building cards don’t usually come with fancy perks, and the Visa College Real Rewards card is no exception. This $0-annual-fee card earns modest rewards — unlimited 1.5x points for every $1 spent and 5x points on hotels and car rentals booked through the Rewards Center. As of this writing, you’ll also get a small $25 bonus after making your first purchase with the card

Rewards can be redeemed for cash back, gift cards, merchandise or travel.

The Infinite Reserve Rewards+ card is a close cousin of the U.S. Bank Altitude™ Reserve Visa Infinite® Card, though the latter is no longer accepting new applicants. So while you can’t get the Altitude Reserve, you can get a similar product from Elan Financial, if you qualify.

The Infinite Reserve Rewards+ card has a steep annual fee — $390 — but it also packs on the travel-related perks. Among them:

• 6x points on airline tickets, hotel reservations and car rentals booked in the Rewards Center. (2x points on all other purchases.)

• $100 annual travel credit for travel booked in the Rewards Center. 

• A credit every four years for Global Entry or TSA PreCheck. 

• Complimentary 12-month Priority Pass Select Membership, good for 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 on sports and fitness; personal care; entertainment and streaming services; dining, takeout and restaurant delivery.

As of this writing, the card was offering a 50,000-point sign-up bonus when you spend $4,500 within the first 90 days of account opening. Rewards can be redeemed for travel, cash back, gift cards or merchandise.

The Visa Max Cash Preferred is quite similar to the U.S. Bank Cash+® Visa Signature® Card. Both cards have no annual fee and feature the same rewards structure — although the Visa Max Cash Preferred has slightly different rewards categories. The Elan-issued card earns:

• 5% cash back on up to $2,000 in combined spending each quarter in two categories you choose from a list of nine. Categories include TV, internet and streaming services, fast food, cell phone providers, department stores, home utilities, furniture stores, electronic stores, recreation and entertainment.

• 2% unlimited cash back on one everyday category of your choice each quarter. Category options are groceries, restaurants or EV charging, and gas stations.

• 1% unlimited cash back on all other purchases.