Cash + Holders, let's fight for our rewards!

[FutureBillionaire]

Please go to FACEBOOK and write on the wall for US Bank on their page.  Also, go to the cash + page and send them a message.  Let them know that we want the same categories, but they can add the caps.  Otherwise, I'm sure we will all be using the card less!

[jake619]

I don't have a CASH+ card but I wrote them via FB that I'd withhold my application until the changes are published. I truly was eyeballing it for a summertime app.

[FutureBillionaire]

Thanks for joining the fight!

[bs6054]

It's strange.  If the card had just been announced, with the new features, it would have got a pretty positive response:

1) You can CHOOSE two 5% reward categories from a large set!   Great

2) And you can chose a 2% category as well.  No-one else has that!

3) $2,000 a quarter cap instead of the usual $1,500.  Wow!

4) And once a year, if you redeem $100, they give you $25.  That's perfect.

But now we are all mad, because they made the card far too good to begin with!

[clocktick]

Can someone elaborate what the issue is?  The post above mine seems like pretty good details so far.

[DailyDriver]

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@bs6054 wrote:

It's strange.  If the card had just been announced, with the new features, it would have got a pretty positive response:

1) You can CHOOSE two 5% reward categories from a large set!   Great

2) And you can chose a 2% category as well.  No-one else has that!

3) $2,000 a quarter cap instead of the usual $1,500.  Wow!

4) And once a year, if you redeem $100, they give you $25.  That's perfect.

But now we are all mad, because they made the card far too good to begin with!

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I think part of the problem is that they are getting rid of unique categories.  

For me, my interest in this card was in Home Improvement and Bill Pay.

I have an Amex Hilton (which had phone bill pay, but none other, although it is going away)...and I would need either Home Depot or Lowes to get Home Improvement cash back.  But with those cards I would be limited to only using it at those stores.  I do not do enough consistent shopping at those stores to warrant the Inquiry and it taking away from my available credit pool.  But for big seasonal projects, it would be worth choosing for the quarter.

[bs6054]

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@clocktick wrote:

Can someone elaborate what the issue is?  The post above mine seems like pretty good details so far.

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OK, simply put:

1) They have removed some of the most popular (= biggest cash back) categories such as bill pay (utilities, insurance) and home improvement.  They are adding new ones but not too exciting.

2) The 5% categories were uncapped.  Now they are $2000 per quarter which is generous compared to some, but obviously not compared to uncapped.  Most people think they could have capped and then left the categories alone.  (From the bank's viewpoint I guess the problem is that those categories are too easy to meet the 2,000, other categories might be less likely to reach the cap, saving money for the bank)

3) In the past, everytime you redeem $100, you got an extra $25, now this is just once a year.

[pkosheta]

a feW points.  As previously covered on flyertalk by several posters...cash back cards are inherently problematic for card issuers.  They cannot devalue cash itself, they cannot buy cash in bulk, like miles, giftcards, merchandise that can be aquired for distribution at less than .o1 cost but given to use at .o1 Per point value  They can be abused if left unchecked, where there is cash, there is abuse potential.  Caps are a must To help control abuse use whether current or potential.  In terms of bill pay if NO ONE offers that category,there is a reason, and that reason is it hurts their bottom line.  They make money on lists of spending on those 1% catergories and the 5% is there to entice u to get the card.  If you are a cronic 5% user, they are glad your mad and hope you cancel as you are costing them money.  They see people using the card point the .o1 and getting a .oo25 bonus as their target audience.  A .0125 cash back card will appeal to many and then getting you to sign up for the checking accounts to get more points is their goal.  Then once your in they hope to get you to use their other products, loans, CDs, investments, iras w/e.  the card was a marketing tool to get people who can get a 5k credit limit in the door. Protests and complaints ain't going to change the mind of us bank execs or managers or anyone. Period.  They got the limelight for a year or so when it was new to the game of 5% cards.  Its hard to say if they were inherently stupid for giving such rewards and They went too far out and have to reign it in Or if eventual cuts were always the plan... either way they are banking on peeps still keeping the card and using it.  Are you seriously considering canceling a 5% card with as much flexibility as it still has b/c ur mad it was too awesome and now it's only awesome?

i still like the card, will continue using the card, I won't be putting nearly as much on it as i would otherwisebut after exposing me and others to US bank via the card I'm sure they have had some impact on their other products.

[clocktick]

I just bill pay on the site.  When are they removing?  That's one of the ones I would've chosen too.

[flowfaster]

Well you could make this a pure restaurant card.  I wonder if Amazon will count as a bookstore?