topic Re: USAlliance: News? in Credit Cards

USAlliance: News?

Anonymous — Thu, 10 Dec 2020 18:50:43 GMT

There was a feeling/guess/whatever that the "limited time" offer of 3% on USAlliance might expire at the end of the year. My Nov 27 statement cut without any notice, has anyone heard anything? If not, might last somewhat longer!

Re: USAlliance: News?

Kforce — Thu, 10 Dec 2020 19:11:27 GMT

@Anonymous wrote:
There was a feeling/guess/whatever that the "limited time" offer of 3% on USAlliance might expire at the end of the year. My Nov 27 statement cut without any notice, has anyone heard anything? If not, might last somewhat longer!

Shush, don't talk too loud they might hear you !

They are still showing it as a card you can get.

Been getting my cashback every month,.

Re: USAlliance: News?

Remedios — Thu, 10 Dec 2020 20:59:55 GMT

@Anonymous is that on their Signature Visa?

I looked at their website, says 3 points per dollar spent, but it doesn't state for X amount of months or anything like that.

Re: USAlliance: News?

FinStar — Thu, 10 Dec 2020 21:13:38 GMT

Based on @Anonymous's initial post, that was my initial hesitation for this particular card 🤔

Re: USAlliance: News?

Anonymous — Thu, 10 Dec 2020 21:52:30 GMT

@Remedios wrote:
@Anonymous is that on their Signature Visa?
I looked at their website, says 3 points per dollar spent, but it doesn't state for X amount of months or anything like that.

Yes, if it was on the website, I probably wouldn't have asked.....! Once we received the card, the information with the card stated that the 3% was a limited time offer, the first indication of that. The CSRs also had no information as to what that meant, and if and when it would expire, but somehow the end of the year became "a thing". Now it could mean that, whenever the limited time offer expires, new accounts only get the 1%, and the rest are grandfathered, but we don't know.

Re: USAlliance: News?

Beast26 — Sat, 12 Dec 2020 14:50:34 GMT

Is US Alliance as hung up on student loans and such as much as you guys say AOD is? How hard is it to get as far as inquiries and new accounts?

Re: USAlliance: News?

coldfusion — Sat, 12 Dec 2020 14:55:50 GMT

They're moderately sensitive to inquiries and new accounts.

Re: USAlliance: News?

batsy71 — Sun, 20 Dec 2020 05:45:43 GMT

Tropical Federal CU in FL, one of the only 3 cc's to give 3% on everything (besides USAlliance & AOD) is finally reverting the 3% to 1%. Although it is a Mastercard and not a Visa, it's probably not related, but felt like an unpleasant fore-warning.

Re: USAlliance: News?

JamP — Mon, 21 Dec 2020 00:29:04 GMT

After 2020, it would not surprise me if all cards go to .75% now...

We all remember when the best cards only gave 1%...

Re: USAlliance: News?

Credit12Fico — Mon, 21 Dec 2020 00:54:04 GMT

@JamP wrote:
After 2020, it would not surprise me if all cards go to .75% now...
We all remember when the best cards only gave 1%...

At first I was thinking, well Citi can't possibly payout less than 2% on something called a "double cash". And then I remember it's Citi and they'll just rename the card in order to payout less if thats what they felt like.

Re: USAlliance: News?

Anonymous — Mon, 21 Dec 2020 01:06:36 GMT

@JamP wrote:
After 2020, it would not surprise me if all cards go to .75% now...
We all remember when the best cards only gave 1%...

I seriously doubt that's going to happen any time soon. CUs that are hurting financially will no doubt pull back on their offers but major banks don't really have a reason to. The average customer jumps for cash back cards and then carries a balance at a high APR and makes the bank a fortune. Many don't even redeem their rewards.

Re: USAlliance: News?

JNA1 — Mon, 21 Dec 2020 01:53:32 GMT

@Anonymous wrote:
@JamP wrote:
After 2020, it would not surprise me if all cards go to .75% now...
We all remember when the best cards only gave 1%...
I seriously doubt that's going to happen any time soon. CUs that are hurting financially will no doubt pull back on their offers but major banks don't really have a reason to. The average customer jumps for cash back cards and then carries a balance at a high APR and makes the bank a fortune. Many don't even redeem their rewards.

This is true. There's a guy I know with a BBVA ClearPoints cards that didn't even know it had the selectable categories. I showed him that I had earned over $450 on mine just running my utilities through mine and he couldn't believe it.

Re: USAlliance: News?

Anonymous — Mon, 21 Dec 2020 04:19:26 GMT

@Credit12Fico wrote:
@JamP wrote:
After 2020, it would not surprise me if all cards go to .75% now...
We all remember when the best cards only gave 1%...
At first I was thinking, well Citi can't possibly payout less than 2% on something called a "double cash". And then I remember it's Citi and they'll just rename the card in order to payout less if thats what they felt like.

You earn 0.25% now, and 0.25% when you pay the next three cycles. So you earn twice, double cash. What's the problem!

Re: USAlliance: News?

Anonymous — Mon, 21 Dec 2020 04:22:56 GMT

@JNA1 wrote:
@Anonymous wrote:
@JamP wrote:
After 2020, it would not surprise me if all cards go to .75% now...
We all remember when the best cards only gave 1%...
I seriously doubt that's going to happen any time soon. CUs that are hurting financially will no doubt pull back on their offers but major banks don't really have a reason to. The average customer jumps for cash back cards and then carries a balance at a high APR and makes the bank a fortune. Many don't even redeem their rewards.
This is true. There's a guy I know with a BBVA ClearPoints cards that didn't even know it had the selectable categories. I showed him that I had earned over $450 on mine just running my utilities through mine and he couldn't believe it.

Right, but such people also wouldn't care if a card went to 0.75% either! @Anonymous , do you have data for the bolded statement? I'm not sure that cashback attracts customers as much as a SUB, or maybe something else...

Re: USAlliance: News?

Anonymous — Mon, 21 Dec 2020 04:51:36 GMT

@Anonymous wrote:
@JNA1 wrote:
@Anonymous wrote:
@JamP wrote:
After 2020, it would not surprise me if all cards go to .75% now...
We all remember when the best cards only gave 1%...
I seriously doubt that's going to happen any time soon. CUs that are hurting financially will no doubt pull back on their offers but major banks don't really have a reason to. The average customer jumps for cash back cards and then carries a balance at a high APR and makes the bank a fortune. Many don't even redeem their rewards.
This is true. There's a guy I know with a BBVA ClearPoints cards that didn't even know it had the selectable categories. I showed him that I had earned over $450 on mine just running my utilities through mine and he couldn't believe it.
Right, but such people also wouldn't care if a card went to 0.75% either! @Anonymous , do you have data for the bolded statement? I'm not sure that cashback attracts customers as much as a SUB, or maybe something else...

There are plenty of studies and surveys that show customers prefer rewards but then don't necessarily use them.

"1 in 5 Americans say points are the most valuable benefit of credit card ownership, but 52% don’t actively track their credit card points."

https://www.couponchief.com/blog/credit-card-rewards-survey/

"Loyalty reward programs continue to be the top influencer when consumers are choosing between multiple credit cards. Seventy-nine percent of survey respondents indicated rewards are a key reason they use one credit card over another."

https://www.tsys.com/Assets/TSYS/downloads/rs_2018-us-consumer-payment-study.pdf

SUBs are great but I doubt most people do the math like we do to decide between an upfront SUB and a card that offers high ongoing cash back rates with low or no SUB. I know when I was helping my buddy get a new card, he was more interested in getting cash back than he was a SUB, because he didn't want to have to get another one later. He ended up picking the Discover card for that reason although he was happy to get $50 from my referring him.

I should also point out that my buddy is exactly the kind of customer the banks like. He revolves a balance month to month and looks at rewards as something to reduce his interest payments. Discover is no doubt making a mint on him by now.

Re: USAlliance: News?

JamP — Tue, 22 Dec 2020 00:15:53 GMT

My original statement was kind of a joke.

Also, it was to draw out the old guys that remember when 1% to 1.5% was the best of the best.

The best card I carried for years was the quicksilver one.

And we all have seen cards nerfed over the years so we just move onto the next biggest and best or we diversify so we have others that will pick up the slack.

I do agree that CUs are offering pretty amazing cards at the moment.

We all know someone that thinks their 1% card is still the best.

Re: USAlliance: News?

firefox100 — Wed, 30 Dec 2020 22:03:29 GMT

Hi happy new year , if this Alliance credit union in new york then it is no longer secret the credit club just put out a video on You tube about this credit union and how ggood the Visa card was. They also said that they use Fico 2 mortgage scores from Experian. Does this cu require POI and what kind of credit lines do they give out.

Re: USAlliance: News?

Anonymous — Thu, 31 Dec 2020 14:18:33 GMT

The following was included on my 28Dec2020 USAlliance credit card statement. At least they provided notice of the change.

"Please be advised that effective February 1, 2021, USALLIANCE Visa Signature card points accumulation will be reduced to 2pts per $1.00. Cards will still earn 2x the points on great travel, shopping, and cash back rewards!"

Re: USAlliance: News?

Anonymous — Thu, 31 Dec 2020 14:45:55 GMT

@Anonymous wrote:
The following was included on my 28Dec2020 USAlliance credit card statement. At least they provided notice of the change.

"Please be advised that effective February 1, 2021, USALLIANCE Visa Signature card points accumulation will be reduced to 2pts per $1.00. Cards will still earn 2x the points on great travel, shopping, and cash back rewards!"

Where was that? I don't see it on my 28 Dec statement!

Re: USAlliance: News?

Anonymous — Thu, 31 Dec 2020 15:05:33 GMT

@Anonymous wrote:
@Anonymous wrote:
The following was included on my 28Dec2020 USAlliance credit card statement. At least they provided notice of the change.

"Please be advised that effective February 1, 2021, USALLIANCE Visa Signature card points accumulation will be reduced to 2pts per $1.00. Cards will still earn 2x the points on great travel, shopping, and cash back rewards!"
Where was that? I don't see it on my 28 Dec statement!

It is between the "CUREWARDS POINTS ACTIVITY" section and the Terms and Conditions. The section is titled "Notes of Interest."