US Bank Cash + Restaurants category downgraded to 2% next quarter...

[destine2grow]

I still may app for this card in the future. Is fast food is one you can choose for 5% category?

[lord_kinbote]

So when do chase/discover release the 2015 calendar categories?

[longtimelurker]

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@VinnyofLegend wrote:

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@Bman70 wrote:

Haha, true the restaurant category is usually listed as "restaurants / bars." Glad I stopped drinking or I'd be twice as mad. 

What doesn't make sense is this crappy new 5% category - clothing stores? How does that differ from the current "department stores"? Marginally expands that category really. 

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It sounds like "specialty" non-department clothing. I'm guessing MCC 56X1 if Gap counts, maybe also Banana Republic, Old Navy, J-Crew, Express, Forever21, Ann Taylor, Men's Wearhouse etc? Maybe even some shoe stores. It might be useful albeit to a different and probably smaller customer base.

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It may not be just MCC based.   Amex has a list of select department stores (for BCP/BCE) and drug stores (BC) where only some in that category count.  (I know Amex doesn't use MCC anyway, but ....!)  So they could restrict it to big cheaper chains.    Just as some have no problem spending $2000 a quarter at restaurants, some will find it easy to spend $2K at designer clothing stores.   People might be less likely to max out Gap.   

And I guess if they keep fast food that's also a category less likely to be maxed out than restaurants.

[MrFlower]

So I dumped my Mcc;s and then processed them. I find it funny because one of my Paneras I visit regulary is 5812 and not 5814.

Also 2 of my local mom and pop resturants are coded as 5814. This is going to be a pain when they switch this.

"ooh... that panera was a 5812 so not 5% even thoe we specifically lsit it on our list."

[coldnmn]

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@celluloid17 wrote:

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@VinnyofLegend wrote:

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@celluloid17 wrote:

Perhaps it's only being mentioned on the statements of those that have Restaurants selected as one of their 5% categories, thus giving those people early warning??

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It still must have been a very recent announcement or cutoff date for the message. I've selected restaurants consistently, and in the last 2 quarters. My recent statement date was October 2nd and there's no mention of this in my messages section of the statement.

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Same here.  My last statement cut on the 7th and there was no mention of it, but coldnmn's statement cut on the 15th and it was on there, so it seems like a very recent announcement.

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It was part of the message telling me my $25 rewards card would take 4 to 6 weeks before I get it. That along with some personal inrormation about my rewards account like rewards to date etc. It wasn't specific to the rewards change It posted more like advertising for next quarter and how great it will be.  Baa Hum Bug!

[Anonymous]

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@MrFlower wrote:

So I dumped my Mcc;s and then processed them. I find it funny because one of my Paneras I visit regulary is 5812 and not 5814.

Also 2 of my local mom and pop resturants are coded as 5814. This is going to be a pain when they switch this.

"ooh... that panera was a 5812 so not 5% even thoe we specifically lsit it on our list."

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I've had that argument and it doesn't go far.  The code is what the code is.  It's particularly a problem for those quick-serve places like Panera, Noodles, Chipotle, Smashburger, Five Guys, etc.  Unless you can look up the MCC ahead of time, you never really know.  In our area we have two almost identical mediterranean places:  Pita Pita and Pita House.  Both have a counter where you go to order and pay, then you pick up your order and take it to your table.  One codes as 5814 and one as 5812.

And unlike other issuers (e.g. Chase and Discover) where I've had good luck getting cashback awarded by talking to customer service, I've at 0% success in getting USBank to reward cashback posthumously.  They're pretty tight, in my experience.

Chris.

[longtimelurker]

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@Anonymous wrote:

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@MrFlower wrote:

So I dumped my Mcc;s and then processed them. I find it funny because one of my Paneras I visit regulary is 5812 and not 5814.

Also 2 of my local mom and pop resturants are coded as 5814. This is going to be a pain when they switch this.

"ooh... that panera was a 5812 so not 5% even thoe we specifically lsit it on our list."

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I've had that argument and it doesn't go far.  The code is what the code is.  It's particularly a problem for those quick-serve places like Panera, Noodles, Chipotle, Smashburger, Five Guys, etc.  Unless you can look up the MCC ahead of time, you never really know.  In our area we have two almost identical mediterranean places:  Pita Pita and Pita House.  Both have a counter where you go to order and pay, then you pick up your order and take it to your table.  One codes as 5814 and one as 5812.

And unlike other issuers (e.g. Chase and Discover) where I've had good luck getting cashback awarded by talking to customer service, I've at 0% success in getting USBank to reward cashback posthumously.  They're pretty tight, in my experience.

Chris.

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When I had an issue with Amex about a gas station, they told me that you should always first ask the clerk how the business is coded with Amex.  Don't know about you but I doubt that most of the front-line staff you deal with would know such things, either at a gas station or a fast food place!

[CreditUnionFan]

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@coldnmn wrote:

As copied from my statement. It also looks lke drug stores will be 1%.

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Ah, this is why I never want to put all of my eggs into one basket.

Drugstores aren't much of a loss - with the original Blue Cash, there's 5% at drugstores once $6500 annual spend, and 1% on that category before $6500.

I am somewhat disappointed, as I opened my US Bank checking account and was hoping to apply for the Cash+ once my inquiries and new accounts had aged a little.

[longtimelurker]

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@CreditUnionFan wrote:

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@coldnmn wrote:

As copied from my statement. It also looks lke drug stores will be 1%.

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Ah, this is why I never want to put all of my eggs into one basket.

Drugstores aren't much of a loss - with the original Blue Cash, there's 5% at drugstores once $6500 annual spend, and 1% on that category before $6500.

I am somewhat disappointed, as I opened my US Bank checking account and was hoping to apply for the Cash+ once my inquiries and new accounts had aged a little.

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BC only covers 4 drug store chains, certainly the bigs ones but not my mail-order prescriptions for example.

But really in the cash back space, people shouldn't use cards getting 1%  (except for BC on the initial annual spend!) when free 2% everywhere cards like Double Cash will work, well,  everywhere

[CreditUnionFan]

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@longtimelurker wrote:

BC only covers 4 drug store chains, certainly the bigs ones but not my mail-order prescriptions for example.

But really in the cash back space, people shouldn't use cards getting 1%  (except for BC on the initial annual spend!) when free 2% everywhere cards like Double Cash will work, well,  everywhere

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Remember that YMMV.

1. Sign-on bonuses may result in >1% effective reward. (GoRewards MC is a 1% card, but $150 for spending $1500 is suh-weet!)
2. The issuer of the 2% card may not approve everyone. (Citibank has a great offer, but if others are making great offers, sitting on the sidelines in the garden may not be desirable)
3. Avoid Adverse Action (AA):
• that may be occur by applying for a new card. (think FNBO, or US Bank account closures)
• from over-utilizing a card due to a low limit. (like my pathetic $1500 Citi Dividend MC)
4. Promotional financing for a large purchase, if its estimated the purchase can be PIF before the end of the promotion.
5. Cash-back, avoiding ATM fee. (Discover at grocery stores, SAMS/WM cards)
6. A secondary benefit, such as waiving of a fee. (such as a worthwhile bank account that has fees waived for a reasonable usage requirement)
7. Occasional use of a card to keep it active
• sufficient to generate "good" payment history. (rebuilding, enhancing score)
• preserve AAoA. (avoid closure from non-use)
8. Perhaps to obtain a CLI or a PC from the issuer in the future. (Comenity, GE/SYNCHB, where it's triggered on having a statement generate)