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. |
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. |
Are current members grandfathered in before the 5% category rewards cap?
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Originally Posted by comptalk
(Post 20752754)
Are current members grandfathered in before the 5% category rewards cap?
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) |
Originally Posted by silver6054
(Post 20754182)
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) |
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.
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Originally Posted by TheDapperDon
(Post 20767062)
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.
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. |
Originally Posted by silver6054
(Post 20768774)
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. |
Originally Posted by comptalk
(Post 20769896)
Come on now... Let's not be greedy.. After all, it's those greedy f*cks who ruined bill pay and now category limits for us.
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Originally Posted by silver6054
(Post 20768774)
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.
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Originally Posted by cbn42
(Post 20770015)
How do you get 5% at CVS? Isn't drug store a 2% category on this card?
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Originally Posted by silver6054
(Post 20770754)
I didn't! The 5x and 1.33 referred to the Citi cards, where I think it is worth doing this. But not with 2%
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Originally Posted by comptalk
(Post 20772363)
Which Citi card?
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That's too bad, but there was no way unlimited 5% cashback on all these categories was going to last. Too easily abused. It'd be nice if they didn't make the limit so low though.
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For those with the card, were you able to apply online? Seems like it is branch only now.
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