You can redeem your rewards once your annual fee appears. The fee will appear 80 days before and 90 days after your account's anniversary date. 

If you redeem points for your annual fee credit before it’s charged, the credit remains pending for up to 12 weeks. Once the annual fee posts to your account, the credit is applied within seven business days. When you redeem points for an annual fee credit after it’s charged, the credit posts within seven business days.

To redeem rewards for an annual fee credit using digital banking

1. Online banking users: Select the rewards card, choose Go to rewards & benefits, then select Redeem rewards.
   U.S. Bank Mobile App users: Select the rewards card, choose Rewards & benefits, then select Redeem rewards.
2. Look for the offer to redeem rewards for the annual fee and select Get Details.
3. Choose Redeem now then select Place order to finalize your redemption.