Reply
Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012
0

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


clocktick wrote:

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


People have signed up for this quarter, so I would it to go away at the end of March.  Someone was told that changes come Feb 15, so maybe new users after that date won't be able to sign up for bill pay etc either.

Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012
0

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


flowfaster wrote:

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


I will use Forward for that, making sure I use one of the 1:1 redemption options!  For now, Forward is uncapped, although I probably am not spending $2K a quarter on this.

Senior Contributor
Open123
Posts: 4,155
Registered: ‎02-23-2011
0

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


pkosheta wrote: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.

i still like the card, will continue using the card, I won't be putting nearly as much on it...


Right, if they could without negative PR, all issuers would systemically close the accounts of all "cronic" 5% category users, since the issuers will lose money and continue doing so.  

 

Chase will close the accounts of those who overly abuse their 5% office category, which is meant to allure new customers who will also spend on the non rewards categories.  They lose money when the card is only used for the 5% office category.  

 

This is still an excellent card.

Valued Contributor
android01
Posts: 1,208
Registered: ‎09-22-2009
0

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

If I were USbank, I would have simply started charging an annual fee, and left the current categories and caps.  It's one of the few AF cards that actually has the kind of reward structure that I would pay for.  It's still a good card though, and I'll keep it.  :smileyhappy:  

EQ FICO - EQ08 - 850 -9/2/14
TU FICO - TU08 - 850 - 7/18/14
EX FICO - EX08 - 850 - 7/18/14
Established Contributor
CruzImperial
Posts: 867
Registered: ‎07-04-2012
0

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

I would pay AF for a Cash + but no bill pay rewards is really keeping me at the edge now.

Fico Scores: . Walmart TU 748 . Garden 8/19 2014 .

Cap One Journey 500 | Discover IT 500 | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCE 6k | Citi Forward 4.2k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 8.5k | Discover Walmart 7.5k | Barclays Apple 2.5k | BoA CR 2.7k | CSP 7.2k | Platinum Prestige 5k | IT Chrome 4k | Slate 2.3k |
Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012
0

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


android01 wrote:

If I were USbank, I would have simply started charging an annual fee, and left the current categories and caps.  It's one of the few AF cards that actually has the kind of reward structure that I would pay for.  It's still a good card though, and I'll keep it.  :smileyhappy:  


What current caps?  The $2K or unlimited?   If they kept unlimited, the "abusers" could easily outstrip any AF, and if the AF was large, many people wouldn't bother.

Valued Contributor
android01
Posts: 1,208
Registered: ‎09-22-2009
0

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


bs6054 wrote:

android01 wrote:

If I were USbank, I would have simply started charging an annual fee, and left the current categories and caps.  It's one of the few AF cards that actually has the kind of reward structure that I would pay for.  It's still a good card though, and I'll keep it.  :smileyhappy:  


What current caps?  The $2K or unlimited?   If they kept unlimited, the "abusers" could easily outstrip any AF, and if the AF was large, many people wouldn't bother.


I was thinking unlimited, but you make a good point.  Still, don't forget they make money on swipe fees and interest for those who carry balances.   I'd still pay a reasonable AF for the 2K quarterly caps as long as they kept the bill pay category.

EQ FICO - EQ08 - 850 -9/2/14
TU FICO - TU08 - 850 - 7/18/14
EX FICO - EX08 - 850 - 7/18/14
Senior Contributor
Open123
Posts: 4,155
Registered: ‎02-23-2011
0

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

[ Edited ]

The only effective measure to somewhat mitigate the spillover effect benefiting a minority of abusers is if US Bank were to implement protocols to systematically unearth these "abusers" and close their accounts.

 

 

Established Contributor
FutureBillionaire
Posts: 641
Registered: ‎12-12-2012
0

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

They overreacted.  Who cares if you can choose your categories if most of them suck?  Put on caps and an annual fee and keep the same categories.  I'm still happy.  They can absolutely do what the want. But, I think it is ridiculous to take their side when you consider that they:

 

1. Give us terrible interest rates on savings and other products

2. Charge us fees to hold our money

3.  Charge ridiculous rates for loan products.

 

Credit cards are the one area that the bank and the customer can win.  At least let us have that.

Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward,
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape
Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012
0

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


FutureBillionaire wrote:

They overreacted.  Who cares if you can choose your categories if most of them suck?  Put on caps and an annual fee and keep the same categories.  I'm still happy.  They can absolutely do what the want. But, I think it is ridiculous to take their side when you consider that they:

 

1. Give us terrible interest rates on savings and other products

2. Charge us fees to hold our money

3.  Charge ridiculous rates for loan products.

 

Credit cards are the one area that the bank and the customer can win.  At least let us have that.


We (at least I) don't know the financials they are experiencing with this card, so we don't know that "both can win".   Again I suspect the issue with the removed categories is that it is much easier to reach any cap using those (as compared to say water parks etc offered by other cards).   So if enough users were using the card almost exclusively for say bill pay, even capping at $2000 per quarter, the bank is losing money on every purchase.   If you add an AF, or lower the cap, you reduce risk but probably the type of users you want (who do 1% spend as well) don't sign up because the competition doesn't have an AF, or has higher caps, etc.

 

Cash back, as remarked elsewhere, has its special problems for issuers, and there really might not be a good solution.   But saying that they should have done something, without knowledge of their actual financial drivers, seems pointless and won't make US Bank listen to your demands (well, they won't anyway)


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+