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

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Anonymous
Not applicable

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

Oh geez. The main reason why this credit card was so appealing to me was for the 5% in restaurants/fastfood. It may still be worth it if fastfood is at least 5%. I am currently getting 2% with my Discover IT Chrome. Unless I can find something better that I can actually qualify for, I'm keeping it! I applied a few months ago & was denied due to a small credit history. I wish this would have happened before I applied, then I wouldn't have wasted my time or a hard pull.

Message 151 of 175
Anonymous
Not applicable

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

longtimelurker - yeah... remember that rumor. I had a Citi TY Card without the NPSL and pc'd it to the Citi Dividend World Elite MasterCard with the NPSL with 5% category chasing (waste of my time). The TY was a waste of time for me. So if they converted my Citi Forward VS to it I would take an HP move the credit line to another of my cards and close it. Have too many cards anyway. Might think about a Chase ARRP Card then. Citi just hasn't been setting the world on fire with credit limits (from what I have read) or cards with innovative approaches to rewards and the like.

Message 152 of 175
sharoo
New Member

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

Sure they can, provided a significant number of their customers put other non-category spend on the card as well. Presumably banks offer loss-leader 5x categories as a promotional tool to get their cards into the prime position in customers' wallets. And what category is a better inducement to "top of wallet" status than dining?  Not only is a dining card something you might need at any time, there's the whole Pavlovian thing. What bank doesn't want their customers to literally salivate every time they lay eyes on their credit card? 

 

In any case, I HAVE been carrying this card in my wallet every day. And if the 5x dining category gets dropped, it's going in a drawer. 

Message 153 of 175
longtimelurker
Epic Contributor

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


@sharoo wrote:

And what category is a better inducement to "top of wallet" status than dining?  Not only is a dining card something you might need at any time, there's the whole Pavlovian thing. What bank doesn't want their customers to literally salivate every time they lay eyes on their credit card? 

 


Well, not all true for everyone.  Dining is, for me, a much lower priority than groceries, simply because I spend much more there than on dining.  Others may prioritize gas if that is their big expense.  But I agree that dining is in the top few slots, just not always the top!

Message 154 of 175
wiivile
New Contributor

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

Just read my statement. All they said was "Also effective January 1, 2015, Drugstores will be replaced by Restaurants as a 2% everyday Cash+ Category."

 

Maybe Restaurants will continue to be a 5% category along with a 2% category Smiley Wink

 

Otherwise, I'm cutting up this card.

 


Chase Freedom Visa: 11/2009, $4,700 CL
Chase Sapphire Preferred Visa Signature: 11/2013, $15,000 CL
U.S. Bank Cash+ Visa Signature: 11/2013, $15,700 CL
Message 155 of 175
Anonymous
Not applicable

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

This is complete crap from US Bank and I will just toss this card aside never to be used again.  In my opinion they maliciously left just fast food at 5% because they know there is uncertainty between a food establishment having an mcc code of 5812 or 5814.  US Bank is just placing their bet on customers using the card at places that might be fast food but in reality aren't in then they only give 1 percent back.  I'd rather take the hit on fast food using my 2 percent card then to possibly make a mistake and only get 1 percent back considering all the BS USBank has pulled from when this card first came out.

Message 156 of 175
Anonymous
Not applicable

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

Glad I didn't even attempt to app this card. -- US Bank declined me for a different card some time ago due to being outside their geographical area.

 

They certainly have the right to decrease the benefit to having the card, but as consumers, so do we have the right not to choose this product for our financial consumption.

Message 157 of 175
Fico2Go
Established Contributor

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

Thanks everyone for updating this topic.  Now I can remove USBANK from my app list. 

 

 

 

Discover IT $19,000 == 12/2013
AMEX 12/2013 ---BCP $12,000 === BC $23,000 ----- 04/2014
CHASE SLATE $5,700 === 12/2013
BoA 123 $6000 === 12/2013
Barclay Rewards $1500 == 12/2013
Message 158 of 175
Open123
Super Contributor

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

The restaurant was the last of the really good categories, in my view.  Now, the only really good categories are electronic, dept stores and cell phones (for those without the Ink).

Message 159 of 175
kevinjjc
Valued Contributor

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


@Anonymous wrote:

This is complete crap from US Bank and I will just toss this card aside never to be used again.  In my opinion they maliciously left just fast food at 5% because they know there is uncertainty between a food establishment having an mcc code of 5812 or 5814.  US Bank is just placing their bet on customers using the card at places that might be fast food but in reality aren't in then they only give 1 percent back.  I'd rather take the hit on fast food using my 2 percent card then to possibly make a mistake and only get 1 percent back considering all the BS USBank has pulled from when this card first came out.


It does indeed suck, but I'm glad they at least kept fast food at 5%. If the receipt has an option to enter a tip amount, then most likely it will be coded as a "restaurant" transaction.

Message 160 of 175
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