US Bank Cash+ Changes Redemption Bonus (again in April 2015)
#1
Original Poster
Join Date: Mar 2005
Posts: 125
US Bank Cash+ Changes Redemption Bonus (again in April 2015)
https://www.usbank.com/credit-cards/...signature.html
Earn cash back whenever you use the U.S. Bank Cash+ Visa Signature Card, the card that lets you choose and change your 5% and 2% Cash+ Categories. Plus, you get 1% cash back on everything else with no limit on total cash back earned. See how easy it is to choose more cash back.
Earn 5% cash back on your first $2,000 in net purchases each quarter on the combined two categories you choose like Restaurants or Department Stores.1
Earn 2% cash back on your choice of one everyday category like gas, groceries or drug store purchases.1
Earn 1% cash back on everything else.
Earn a $25 Cash+ Bonus when you redeem $100 or more in a single redemption. Limit of 1 per calendar year.
No limit on total cash back earned.
Make sure you choose your categories each quarter. If you do not choose your categories, all net purchases2 will still earn 1% cash back. Categories are subject to change quarterly.
Earn cash back whenever you use the U.S. Bank Cash+ Visa Signature Card, the card that lets you choose and change your 5% and 2% Cash+ Categories. Plus, you get 1% cash back on everything else with no limit on total cash back earned. See how easy it is to choose more cash back.
Earn 5% cash back on your first $2,000 in net purchases each quarter on the combined two categories you choose like Restaurants or Department Stores.1
Earn 2% cash back on your choice of one everyday category like gas, groceries or drug store purchases.1
Earn 1% cash back on everything else.
Earn a $25 Cash+ Bonus when you redeem $100 or more in a single redemption. Limit of 1 per calendar year.
No limit on total cash back earned.
Make sure you choose your categories each quarter. If you do not choose your categories, all net purchases2 will still earn 1% cash back. Categories are subject to change quarterly.
#2
Join Date: Jan 2012
Location: MSP
Programs: Marriott LT Titanium, UA Silver (via Marriott)
Posts: 642
US Bank Cash+ Changes Redemption Bonus
Got a secure message from US Bank the other day stating that starting July 1, cardholders will only be eligible for one $25 bonus per year when redeeming for $100 in rewards.
To me, this is a significant devaluation of card benefits and takes a card that was far and away better than Chase Freedom back down to the same level. Goodbye, 6.25% cash back for select categories.
To me, this is a significant devaluation of card benefits and takes a card that was far and away better than Chase Freedom back down to the same level. Goodbye, 6.25% cash back for select categories.
#4
Join Date: Nov 2011
Posts: 1,944
This card has been downgraded a lot (apart from making it hard to apply except in a branch)!
a) removal of "abused" categories (bill pay, air fare, home improvement)
b) $25 bonus to once a year
c) cap of bonus categories
BCP just did c), doing a and c seems a little harsh, and all three.....
Edit: Forgot
d) Removal of bonus for banking relationship (later this year)
Last edited by silver6054; May 15, 2013 at 6:35 am Reason: Add additional downgrade
#5
Join Date: Jan 2012
Location: MSP
Programs: Marriott LT Titanium, UA Silver (via Marriott)
Posts: 642
On myfico, someone contacted US Bank about this. THe answer is that this impacts everyone beginning July 1st. For new card holders, or those who didn't select their categories yet, the change is immediate.
This card has been downgraded a lot (apart from making it hard to apply except in a branch)!
a) removal of "abused" categories (bill pay, air fare, home improvement)
b) $25 bonus to once a year
c) cap of bonus categories
BCP just did c), doing a and c seems a little harsh, and all three.....
Edit: Forgot
d) Removal of bonus for banking relationship (later this year)
This card has been downgraded a lot (apart from making it hard to apply except in a branch)!
a) removal of "abused" categories (bill pay, air fare, home improvement)
b) $25 bonus to once a year
c) cap of bonus categories
BCP just did c), doing a and c seems a little harsh, and all three.....
Edit: Forgot
d) Removal of bonus for banking relationship (later this year)
#6
Join Date: Mar 2013
Location: Down South, The Desert
Programs: Marriot Rewards, Southwest Rapid rewards, Emerald Club, Avis Preferred
Posts: 1,871
I was very displeased and let them know about it on social media. If usage of the card goes down substantially, maybe they will make changes. I'm actually using it now at charlie victor sierra, so I actually put more on it than I did before.
#7
Join Date: Nov 2011
Posts: 1,944
Buying $5,000 in VR gives $125 (before July 1st) and costs ~ $40, for a gain of $85, which is OK, but usually takes 5 trips to CVS (no need to disguise it!) and that is too much effort for a gain that isn't really noticeable. With a 5x card and 1.33 multiplier, much more justifiable.
#8
Join Date: May 2012
Posts: 605
I did that a little but the gains seem too small (unless I am missing a trick!)
Buying $5,000 in VR gives $125 (before July 1st) and costs ~ $40, for a gain of $85, which is OK, but usually takes 5 trips to CVS (no need to disguise it!) and that is too much effort for a gain that isn't really noticeable. With a 5x card and 1.33 multiplier, much more justifiable.
Buying $5,000 in VR gives $125 (before July 1st) and costs ~ $40, for a gain of $85, which is OK, but usually takes 5 trips to CVS (no need to disguise it!) and that is too much effort for a gain that isn't really noticeable. With a 5x card and 1.33 multiplier, much more justifiable.
#9
Join Date: Nov 2011
Posts: 1,944
Greed is little to do with it, more an ROI question. If I get $10 per trip to CVS, it's not (for me) really worth considering. I can do better using CVS coupons!
#10
Moderator: Manufactured Spending
Join Date: Jul 2011
Posts: 6,576
Buying $5,000 in VR gives $125 (before July 1st) and costs ~ $40, for a gain of $85, which is OK, but usually takes 5 trips to CVS (no need to disguise it!) and that is too much effort for a gain that isn't really noticeable. With a 5x card and 1.33 multiplier, much more justifiable.