Reply
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011

Re: US Bank Cash+


crunching_numbers wrote:
Also, I live near a branch, so I will apply in the branch. Will I need to open an account?

AFAIK you do not need an account.

 

Good luck to you!! :smileyhappy:




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Senior Contributor
drkaje
Posts: 3,482
Registered: ‎07-25-2008

Re: US Bank Cash+


vish1 wrote:

Are you in a state which has US Bank? I heard that they don't offer cash+ online/on phone


I called last year and asked a rep: He said the policy had changed.

 

The Cash + is a card I've wanted for years but really have no use for. I've plenty of cards and really want to close two in about two years.

 


Starting Score: 675
Current Score: EX ? FICO, EQ 708 FICO
Goal Score: 776 FICO


Take the FICO Fitness Challenge
Senior Contributor
longtimelurker
Posts: 5,377
Registered: ‎04-22-2013

Re: US Bank Cash+

Yes, now I know about the caps, this card has gone from A+ (last year) to maybe a B- at best.   It's fine if you have a lot of spend in two of the available 5% categories, so you can maximize the up to $400 cash back.  Then you still have the 2% category, but there are better cards for each of those usually.

 

But if you value UR points for example, the Freedom is going to be better (if you have spend in their rotating categories).  Of course, without an AF, if you are able to apply, and can take the HP, you can get it in addition to the alternatives.

 

But no longer a card worth moving to US Bank territory to get!

Most active cards: Amex BC ($50K), Cap One QS ($33K) Fidelity Amex ($20K)
Others: CSP, Freedom, Chase Amazon, Cap One QS, Penfed Plat Rewards (x2), Citi TY Preferred, Citi Dividend, Citi AA Plat Select, Citi Forward, Amex BCE, Amalgamated Bank, Sallie Mae, Cash Plus
Scores May 14: EQ 848, EX 833, TU 841 (Jul)
Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013

Re: US Bank Cash+

um, does this mean people who ALREADY have the card are now capped too? Or is this just for new applicants?

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Senior Contributor
Ron1
Posts: 4,707
Registered: ‎05-23-2009

Re: US Bank Cash+


enharu wrote:

um, does this mean people who ALREADY have the card are now capped too? Or is this just for new applicants?


I think it is for all of us. It is still no AF.

 

 

Ron.

Senior Contributor
longtimelurker
Posts: 5,377
Registered: ‎04-22-2013

Re: US Bank Cash+

I have to check the statements.  The reduction in the $25 bonus (once per year) was announced in my most recent statement, but haven't seen anything about the cap.

Most active cards: Amex BC ($50K), Cap One QS ($33K) Fidelity Amex ($20K)
Others: CSP, Freedom, Chase Amazon, Cap One QS, Penfed Plat Rewards (x2), Citi TY Preferred, Citi Dividend, Citi AA Plat Select, Citi Forward, Amex BCE, Amalgamated Bank, Sallie Mae, Cash Plus
Scores May 14: EQ 848, EX 833, TU 841 (Jul)
Senior Contributor
longtimelurker
Posts: 5,377
Registered: ‎04-22-2013

Re: US Bank Cash+

This seems like "over-nerfing"!  It makes sense to cap (like BCP) or to remove abused categories, but doing both, and removing the bonus, seems excessive.

With the cap, the max exposure for bonus purchases is $400 a year, and keeping the bonus, that would be $500.   Yes, if they didn't change the bonus, there's the chance of people doing tons of 1 and 2% spend, but I would think that that is profitable for the bank.

 

So all I can think of is that they expect people won't even reach the $2000 per quarter in these categories, whereas with bill pay they would.   But not sure, with Amazon being part of bookstores, I would think most can!

Most active cards: Amex BC ($50K), Cap One QS ($33K) Fidelity Amex ($20K)
Others: CSP, Freedom, Chase Amazon, Cap One QS, Penfed Plat Rewards (x2), Citi TY Preferred, Citi Dividend, Citi AA Plat Select, Citi Forward, Amex BCE, Amalgamated Bank, Sallie Mae, Cash Plus
Scores May 14: EQ 848, EX 833, TU 841 (Jul)
Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013

Re: US Bank Cash+

Ok

I just got off the phone with US Bank.

For people whom have already applied, got approved, received their cards and have already selected their categories before May 1st 2013, it is still unlimited 5%.

For new applicants now or for customers who have yet to select their 5% categories, they will be limited to $2000 for 5%.

 

However starting July 1st 2013, everyone will fall under the new $2000 cap.

 

Damn it :smileysad: I selected Electronics and Restaurants. Should have went with bookstores and electronics.

Guess I'll buy all my stuff from best buy for these 3 months. Gonna order 10 dyson vacuums and set them aside in advance as housewarming gifts lol.......

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Moderator
09Lexie
Posts: 24,405
Registered: ‎09-13-2012

Re: US Bank Cash+

Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013

Re: US Bank Cash+


09Lexie wrote:
Shaking my head!

bout the cap right? :smileytongue:

meh still a good card for no AF I suppose.

I just wish the cap would have been higher, but beggars cant be choosers I guess.

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).

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
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+