rewrite this title What Is Elan Financial, and Are Its Credit Cards Right for You? – NerdWallet

Elan Financial Services, a division of U.S. Bank, is a credit card issuer and servicer for many smaller banks and credit unions. These financial institutions partner with Elan, which handles everything from underwriting and marketing to designing the card itself.

This kind of “white label” arrangement is fairly straightforward for the banks, but it can get confusing if you’re a cardholder. First — even though the card may bear your local bank’s name and logo on it, and even if you started the application for the card through that local bank — the local bank is not the issuer; Elan is. To manage the card, make payments, redeem rewards, etc., you’ll likely have to use Elan’s dedicated website, not the local bank’s.

Secondly, Elan works with many banks and credit unions around the country, all of which tend to use similar Elan “templates” for their credit cards. A credit union in California might be offering the same exact rewards credit card as a midsize bank in Baltimore, but the two products may have completely different names and card designs.

Still, Elan’s products are generally competitive — some are nearly identical to existing (and better-known) U.S. Bank credit cards. The company’s portfolio includes several cash-back cards, some travel cards, and a handful of co-branded and secured cards, including the following consumer credit cards that may be available from a variety of smaller banks and credit unions:

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

The Fidelity® Rewards Visa Signature® Card is (surprise!) issued by Elan, not Fidelity. It 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:

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: