US Bank Cash+ Visa Signature New Terms

[takeshi74]

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@Anonymous wrote:
US bank is run by idiots. Credit companies make money by collecting interest! People who pay interest generally do not have high fico scores. You eliminate the cash cow segment of the population with your archaic, manual underwriting and expect profit?

Which idiot thought it was a good idea to introduce massive benefit to high fico scorer's.

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Be careful with the idiot label.  Creditors are not all identical.  It's a matter of balancing risk versus profit and you can't just assume that all creditors are maximizing profit at the expense of risk.  Some are more conservative than others, some are willing to take more of a risk to turn more profit.  Collecting interest and fees isn't the only concern with every creditor.

No matter what the market different businesses within the given market can have different approaches.  There are generally different niches to serve that can be profitable.  It's typical armchair industry analysis to assume that they should all operate identically.

[Themanwhocan]

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@takeshi74 wrote:

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@Anonymous wrote:
US bank is run by idiots. Credit companies make money by collecting interest! People who pay interest generally do not have high fico scores. You eliminate the cash cow segment of the population with your archaic, manual underwriting and expect profit?

Which idiot thought it was a good idea to introduce massive benefit to high fico scorer's.

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Be careful with the idiot label.  Creditors are not all identical.  It's a matter of balancing risk versus profit and you can't just assume that all creditors are maximizing profit at the expense of risk.  Some are more conservative than others, some are willing to take more of a risk to turn more profit.  Collecting interest and fees isn't the only concern with every creditor.

No matter what the market different businesses within the given market can have different approaches.  There are generally different niches to serve that can be profitable.  It's typical armchair industry analysis to assume that they should all operate identically.

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The US Bank Cash+ card gives 5% cash back on Armchairs too, provided you select the Furniture store category...

[Involver]

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@Themanwhocan wrote:

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@takeshi74 wrote:

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@Anonymous wrote:
US bank is run by idiots. Credit companies make money by collecting interest! People who pay interest generally do not have high fico scores. You eliminate the cash cow segment of the population with your archaic, manual underwriting and expect profit?

Which idiot thought it was a good idea to introduce massive benefit to high fico scorer's.

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Be careful with the idiot label.  Creditors are not all identical.  It's a matter of balancing risk versus profit and you can't just assume that all creditors are maximizing profit at the expense of risk.  Some are more conservative than others, some are willing to take more of a risk to turn more profit.  Collecting interest and fees isn't the only concern with every creditor.

No matter what the market different businesses within the given market can have different approaches.  There are generally different niches to serve that can be profitable.  It's typical armchair industry analysis to assume that they should all operate identically.

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The US Bank Cash+ card gives 5% cash back on Armchairs too, provided you select the Furniture store category...

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Well done.

[CreditUnionFan]

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@Themanwhocan wrote:

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@takeshi74 wrote:

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No matter what the market different businesses within the given market can have different approaches.  There are generally different niches to serve that can be profitable.  It's typical armchair industry analysis to assume that they should all operate identically.

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The US Bank Cash+ card gives 5% cash back on Armchairs too, provided you select the Furniture store category...

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Remember, only up to $2000 per quarter.

[wiivile]

From this month's statement:

"Beginning April 1, 2015, the $25 Cash+ Bonus you receive when you redeem cash rewards for $100 or
more in a single redemption will now be limited to one per the lifetime of the account. Currently, the $25
Cash+ Bonus has a limit of one per calendar year."

Every statement comes with a different nerf. I'm closing this card - to hell with it.

[Involver]

Why close an 11k tradeline with no AF?

Just let it sit there open and dont charge on it.

[wiivile]

Then they will close it. I'd rather close it ASAP so I can get the account off my credit report sooner rather than later (even if it takes 10 years) since it's bringing down my AAoA.

[Anonymous]

While I don't like the trajectory that the US Bank Cash+ is taking either, it's still a very solid card considering it's no AF. And to be fair to US Bank, that $25 cash bonus would have been pretty hard to sustain on a credit card whose profit margins are already pretty slim. 

The way I see it, it's still got 5% cashback on certain categories that almost no other current cards give 5% cashback for. I feel like people would be a lot more satisfied with the US Bank Cash+ card if it had been initially released under its current terms. It seems like people got used to a pretty high standard of benefits with this card, and when some of the most unprofitable ones went away, the most common refrain is, "That's it, I'm closing this card down!!!" But that seems a bit impetuous since it's still an overall terrific card.

I'm not one to close down no AF cards to begin with, but if I were you, I would only close it down if it no longer serves a purpose to you. If you could still use it for some of the 5% categories, I would keep it open.

[Involver]

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@wiivile wrote:

I'd rather close it ASAP so I can get the account off my credit report sooner rather than later (even if it takes 10 years) since it's bringing down my AAoA.

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Does not compute.

[wiivile]

What?