topic Re: US Bank Cash + Changes and New Cards June 20th. in Credit Cards

US Bank Cash + Changes and New Cards June 20th.

14Fiesta — Tue, 07 Jun 2016 03:43:03 GMT

A change is happening to the Cash + program that for once, I think the myFICO community will like. (Hint: It's not a nerf )

After June 20th, no matter what credit limit you are approved for, you will receive the Cash + reward structure. They are doing away with the Cash Rewards down sell.

===============================================================

They will also be revealing two new American Express cards.

1 will be a 1.5% CB card similar to FU, QS, etc. (No Annual Fee)

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The other will be a new Amex Travel Flexperks Card.

30,000 Flexpoints signup bonus (Up to $600 Value)

3 Flexpoints on Dinning

2 Flexpoints on gas and air travel

1 Flexpoint on everything else

TSA Precheck credit ($100 value)

$85 Annual Fee

Re: US Bank Cash + Changes and New Cards June 20th.

Anonymous — Tue, 07 Jun 2016 04:13:05 GMT

This is certainly interesting news and is definitely wonderful for people who don't have the card already!

I, as a current Cash+ cardholder, am a bit worried about this change though, because I wonder if the Cash+ will be able to sustain the choose-two-5%-category structure long-term if they are offering to everyone.

Re: US Bank Cash + Changes and New Cards June 20th.

Anonymous — Tue, 07 Jun 2016 04:38:40 GMT

@14Fiesta wrote:
A change is happening to the Cash + program that for once, I think the myFICO community will like. (Hint: It's not a nerf )

After June 20th, no matter what credit limit you are approved for, you will receive the Cash + reward structure. They are doing away with the Cash Rewards down sell.

===============================================================

They will also be revealing two new American Express cards.

1 will be a 1.5% CB card similar to FU, QS, etc. (No Annual Fee)

===============================================================

The other will be a new Amex Travel Flexperks Card.

30,000 Flexpoints signup bonus (Up to $600 Value)

3 Flexpoints on Dinning

2 Flexpoints on gas and air travel

1 Flexpoint on everything else

TSA Precheck credit ($100 value)

$85 Annual Fee

If only they would upgrade everyone who already have Cash Rewards.

Re: US Bank Cash + Changes and New Cards June 20th.

Anonymous — Tue, 07 Jun 2016 04:44:46 GMT

I haven't seen much exciting new cards releasing this year, like any card with 5% CB on groceries. I guess this is the way US bank wants to make its cards shine again Maybe after a long-term experiments, they found Cash+ doesn't make they bankrupt...

Re: US Bank Cash + Changes and New Cards June 20th.

Anonymous — Tue, 07 Jun 2016 04:59:25 GMT

@Anonymous wrote:
I haven't seen much exciting new cards releasing this year, like any card with 5% CB on groceries. I guess this is the way US bank wants to make its cards shine again Maybe after a long-term experiments, they found Cash+ doesn't make they bankrupt...

Or rather, through enough nerfing, they now have a reward structure that doesn't make them bankrupt!

Re: US Bank Cash + Changes and New Cards June 20th.

Anonymous — Tue, 07 Jun 2016 05:50:34 GMT

Of course they announce this after I somewhat purposely opened a 5k card with them with the intention of combining with my useless Cash Rewards to make a limit large enough to PC to the Cash+ that I originally applied for...... grumble grumble....

Re: US Bank Cash + Changes and New Cards June 20th.

Anonymous — Tue, 07 Jun 2016 06:56:39 GMT

Well this sucks. A lot. (apped for cash +, got cash rewards earlier this year)

Re: US Bank Cash + Changes and New Cards June 20th.

Royalbacon — Tue, 07 Jun 2016 09:09:41 GMT

So what does this mean for those who already have the Cash Rewards card? I just recently got denied a CLI on my USBank Cash Rewards card. And is there a source? Can't find anything on the USBank website and nothing on google.

Re: US Bank Cash + Changes and New Cards June 20th.

creditguy — Tue, 07 Jun 2016 09:17:21 GMT

Believe when I see it. US Banks idea of exciting is putting chocolate syrup on thier vanilla ice cream.

Re: US Bank Cash + Changes and New Cards June 20th.

deltatee — Tue, 07 Jun 2016 11:11:19 GMT

This is really quite good news! I wonder if the practical effect will be people with small limits on the cash plus or just more flat denials. It would seem to me that it might be easier for people with cash rewards to PC to the cash plus without first having to get a CLI. Time will tell.

Re: US Bank Cash + Changes and New Cards June 20th.

kdm31091 — Tue, 07 Jun 2016 12:28:53 GMT

It's good news they're getting rid of the downsell, but with the releasing of new cards (especially the now common 1.5% one) I can't help but wonder if they plan to eventually make us Cash+ users switch to the 1.5% card. If so, I'll just be closing it.

As for sustainability, they've already removed many 5% categories and placed a cap, but my guess is that by introducing the "new" 1.5% card, they are going to slowly want to switch people to it, just like Chase wants to do with the Freedom Unlimited card (rumored that the 5% version will go away after 2016). 5% categories are a loss for banks so I think they are trying to wean people off of them.

Re: US Bank Cash + Changes and New Cards June 20th.

CreditMagic7 — Tue, 07 Jun 2016 12:35:19 GMT

Interesting development with US Bank on those changes and hopefully something positive for a change.

It's been a grueling effort on this end holding a US Bank card in my own lineup. And only recently as just last week they've shown signs that they are finally loosening up for me with a SP CLI (again) in short order from the previous one.

I expect a mailer preapproval anytime now if they are still true to form going off SP's.

Re: US Bank Cash + Changes and New Cards June 20th.

takeshi74 — Tue, 07 Jun 2016 12:46:21 GMT

@Anonymous wrote:

I, as a current Cash+ cardholder, am a bit worried about this change though, because I wonder if the Cash+ will be able to sustain the choose-two-5%-category structure long-term if they are offering to everyone.

They've been able to sustain it with nerfing. I'm sure they can keep 5% and just continue to make the categories less and less useful.

Re: US Bank Cash + Changes and New Cards June 20th.

14Fiesta — Tue, 07 Jun 2016 13:09:59 GMT

@Royalbacon wrote:
So what does this mean for those who already have the Cash Rewards card? I just recently got denied a CLI on my USBank Cash Rewards card. And is there a source? Can't find anything on the USBank website and nothing on google.

I'm going off a vaguely worded memo, so I don't have all the details yet. But, I would think for those with existing Cash Rewards cards, once this switch comes, you should be able to PC to a Cash +. Or maybe they are just making it so the Cash Rewards structure is getting a buff to match that of the Cash +. Like I said, details are vague at this point lol.

Re: US Bank Cash + Changes and New Cards June 20th.

core — Tue, 07 Jun 2016 13:49:09 GMT

This is just putting lipstick on a pig.

Re: US Bank Cash + Changes and New Cards June 20th.

celluloid17 — Tue, 07 Jun 2016 15:49:12 GMT

I would imagine they would allow Cash Rewards cardholders to PC into Cash + now given that they're eliminating a CL threshhold. As for the Cash + itself, it's not really that exciting of a card anymore. The 5% categories are too specific and thus somewhat limiting. I like US Bank and I have a nice limit on my Cash +, but mine lives in a sock drawer and only gets my cell phone bill (which to me, is one of the last few decent 5% categories). I wish they would spruce up the Cash + a bit and add some new categories or maybe raise the one 2% category to 3% or remove foreign transcation fees. Something to make the card stand out again.

Re: US Bank Cash + Changes and New Cards June 20th.

kdm31091 — Tue, 07 Jun 2016 15:53:53 GMT

@celluloid17 wrote:
I would imagine they would allow Cash Rewards cardholders to PC into Cash + now given that they're eliminating a CL threshhold. As for the Cash + itself, it's not really that exciting of a card anymore. The 5% categories are too specific and thus somewhat limiting. I like US Bank and I have a nice limit on my Cash +, but mine lives in a sock drawer and only gets my cell phone bill (which to me, is one of the last few decent 5% categories). I wish they would spruce up the Cash + a bit and add some new categories or maybe raise the one 2% category to 3% or remove foreign transcation fees. Something to make the card stand out again.

Yes unfortunately the card has become relatively niche. I still use it for 5% on fast food, but I find that just encourages me to be eating more fast food than I should, so while it's a nice benefit, it isn't the be all end all (plus it's not like fast food is that expensive anyway, so the rewards aren't huge). The 2% categories are basically irrelevant, and most of the 5% are things I don't buy/use very often. Cell phone is one of the few things that is useful to a majority I'd think.

Would be nice to see them add some broader categories for 5% but like I said upthread I think if anything we'd see the card go away vs them enhancing it. But I hope I am wrong.

Re: US Bank Cash + Changes and New Cards June 20th.

Royalbacon — Tue, 07 Jun 2016 17:46:09 GMT

http://millionmilesecrets.com/2016/06/07/rumor-new-us-bank-cards-coming-sign-up-bonus-worth-up-to-600/

Re: US Bank Cash + Changes and New Cards June 20th.

satasat360 — Tue, 07 Jun 2016 17:57:41 GMT

@core wrote:
This is just putting lipstick on a pig.

well said

Re: US Bank Cash + Changes and New Cards June 20th.

JustBPatient — Tue, 07 Jun 2016 18:23:52 GMT

I think there are a couple of things going on here. First, makes it easier for them to decline you for Cash+. Second I think moving forward you are going to see most Banks/CU's have some sort of 1.5% kickback card. This seems to be the sweetspot for them. QS, CashForward etc...