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Contributor
Posts: 252
Registered: ‎07-08-2013
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US Bank Cash+

This card is on my radar as a potential new card for me in the future, but I heard they are starting to cap categories as well as eliminating some of the bonus categories or getting rid of this card altogether?? Is any of this true? If so, should I app for this card ASAP?

BoA 123 $2.5k (11/12) // Discover It $3.9k (7/13) // Citi Forward Student $3.8k (7/13) // Chase Freedom 5k (12/13) // Amex Blue Cash 6k (1/15)

Starting Score: No Credit History (11/12)
Current Score: MyFico 761
Goal Score: 800+


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Senior Contributor
Posts: 11,485
Registered: ‎10-21-2012
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Re: US Bank Cash+

The Cash+ has gone through some nerfing, yes.  Where specifically or what source did you hear that it was going to be phased out?  There hasn't been anything officially announced AFAIK.

Valued Contributor
Posts: 1,794
Registered: ‎07-01-2010
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Re: US Bank Cash+

They have done this previously, but I'm not aware of any new developments.

 

There are various threads on this forum that discuss the issue.

 

Contributor
Posts: 252
Registered: ‎07-08-2013
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Re: US Bank Cash+


FinStar wrote:

The Cash+ has gone through some nerfing, yes.  Where specifically or what source did you hear that it was going to be phased out?  There hasn't been anything officially announced AFAIK.


I've just been reading through posts on this forum (some old, some new) and I wanted to know exactly what was going on with this card. It seems like a really great card to have (especially to compliment my Freedom and IT cards)

BoA 123 $2.5k (11/12) // Discover It $3.9k (7/13) // Citi Forward Student $3.8k (7/13) // Chase Freedom 5k (12/13) // Amex Blue Cash 6k (1/15)

Starting Score: No Credit History (11/12)
Current Score: MyFico 761
Goal Score: 800+


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Super Contributor
Posts: 14,013
Registered: ‎04-22-2013
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Re: US Bank Cash+


user5387 wrote:

They have done this previously, but I'm not aware of any new developments.

 

There are various threads on this forum that discuss the issue.

 


Right,  I think nerfing completes Dec 31st, unless they are doing more!  What has happened:

 

1) Removal of certain categories that were heavily used: (bill pay, home improvement, airfare)

2) Reduction of $25 bonus per $100 redemption to once a year

3) $2000 per quarter cap on 5% categories for new users

4) No more bonus from banking relationships

5) Imposition of cap for existing users (Jan 1, 2014)

 

So it's been very heavily nerfed, but still has its pluses.  Hopefully now it is profitable enough so they won't need to do more adjustments.  But who knows!

New Member
Posts: 9
Registered: ‎12-09-2013
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Re: US Bank Cash+

Imposition of cap first of the year? That statement confuses me. Is this something where they will grandfather?
Established Member
Posts: 40
Registered: ‎11-14-2013
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Re: US Bank Cash+

I don't believe they're grandfathering anybody as I read existing customers have been notified of the changes. People were bound to take advantage of the uncapped 5% categories so it was only a matter of time for these kinds of adjustments (much like the Amex BCP caps). It might still be a good card for you depending on your spending habits.

Super Contributor
Posts: 14,013
Registered: ‎04-22-2013
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Re: US Bank Cash+


UniqueUsername wrote:
Imposition of cap first of the year? That statement confuses me. Is this something where they will grandfather?

New users were capped since I think June 2013.   As of Jan 1, 2014 all users will be capped.  So no grandfathering, they just continued it for existing users longer.

Contributor
Posts: 252
Registered: ‎07-08-2013
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Re: US Bank Cash+


longtimelurker wrote:

user5387 wrote:

They have done this previously, but I'm not aware of any new developments.

 

There are various threads on this forum that discuss the issue.

 


Right,  I think nerfing completes Dec 31st, unless they are doing more!  What has happened:

 

1) Removal of certain categories that were heavily used: (bill pay, home improvement, airfare)

2) Reduction of $25 bonus per $100 redemption to once a year

3) $2000 per quarter cap on 5% categories for new users

4) No more bonus from banking relationships

5) Imposition of cap for existing users (Jan 1, 2014)

 

So it's been very heavily nerfed, but still has its pluses.  Hopefully now it is profitable enough so they won't need to do more adjustments.  But who knows!


Wow they really downgraded it, would it still be worth to get this card?

BoA 123 $2.5k (11/12) // Discover It $3.9k (7/13) // Citi Forward Student $3.8k (7/13) // Chase Freedom 5k (12/13) // Amex Blue Cash 6k (1/15)

Starting Score: No Credit History (11/12)
Current Score: MyFico 761
Goal Score: 800+


Take the myFICO Fitness Challenge
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Contributor
Posts: 86
Registered: ‎12-24-2012
0

Re: US Bank Cash+

I just had to roll my eyes when I got the letter about the $2k cap for the 5% rewards categories. I can only hope that they bring back some of the good categories now that they have the cap... (I am dreaming of course, since I can sign up for 1st quarter 2014 categories and they're the same)

US Bank Cash+ -- Chase Freedom -- Citi Dividend -- Citi Double Cash -- AMEX BCE -- Discover It

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