topic USAA Limitless (the grandfathered 2.5% card) downgrading card holders April 26th in Credit Cards

USAA Limitless Nerfed to 1.5% Cash Back

UncleB — Wed, 09 Mar 2022 03:47:08 GMT

Pour one out for the USAA Limitless... it's being PC'ed (nerfed) to their 1.5% Preferred Cash Rewards Visa.

Re: USAA Limitless Nerfed to 1.5% Cash Back

FinStar — Tue, 08 Mar 2022 01:28:53 GMT

Oh noes 😱💀

I know we discussed a 'negotiation' thing somewhere, so since this one is now going to be dead in the water (which is really unfortunate), I have switched my sights to your...ummm...'precious' AR 😂 ...you have until December soooo 😉

Re: USAA Limitless Nerfed to 1.5% Cash Back

credit_is_crack — Tue, 08 Mar 2022 01:28:53 GMT

Dang. I just got the alert too. It's been a good run, and at least they are giving us until DEC so plenty of advance notice. Still loyal to USAA!

Re: USAA Limitless Nerfed to 1.5% Cash Back

UncleB — Tue, 08 Mar 2022 01:36:28 GMT

@FinStar wrote:
Oh noes 😱💀

I know we discussed a 'negotiation' thing somewhere, so since this one is now going to be dead in the water (which is really unfortunate), I have switched my sights to your...ummm...'precious' AR 😂 ...you have until December soooo 😉

Haha... our 'chat' was actually one of my first thoughts!

I'm not sure what I'm going to do with it after December... I don't need yet another Quicksilver.

An interesting side thought... they have now demonstrated that they have the ability to do a PC; it sure would be nice if they would start to offer 'voluntary' PCs on their other cards. I would love to PC my useless 'points' Visa card to their Cashback Rewards Plus Amex, but of course at this time it's not possible.

Re: USAA Limitless Nerfed to 1.5% Cash Back

Anonymous — Tue, 08 Mar 2022 01:51:37 GMT

@UncleB wrote:
Pour one out for the USAA Limitless... it's being PC'ed (nerfed) to their 1.5 Preferred Cash Rewards Visa.

@UncleB you should be grateful! They are trying to serve the financial needs of their members and are helpfully simplifying the offerings. What more do you want from an issuer!

Hopefully the Altitude Reserve will soon be equally helpful, and make the card a flat 1%, so you don't have to worry about whether to use mobile wallet or not.....

Re: USAA Limitless Nerfed to 1.5% Cash Back

FinStar — Tue, 08 Mar 2022 01:50:46 GMT

@UncleB wrote:
@FinStar wrote:
Oh noes 😱💀

I know we discussed a 'negotiation' thing somewhere, so since this one is now going to be dead in the water (which is really unfortunate), I have switched my sights to your...ummm...'precious' AR 😂 ...you have until December soooo 😉
Haha... our 'chat' was actually one of my first thoughts!

I'm not sure what I'm going to do with it after December... I don't need yet another Quicksilver.

An interesting side thought... they have now demonstrated that they have the ability to do a PC; it sure would be nice if they would start to offer 'voluntary' PCs on their other cards. I would love to PC my useless 'points' Visa card to their Cashback Rewards Plus Amex, but of course at this time it's not possible.

So 'forced' PCs seems to indicate that their systems are capable of such a thing, just not something they entertain for the masses to initiate. And, while I like the USAA relationship, I really wish they had a bit more flexibility on PCs and/or CL reallocations or account combos (or raise the unsecured exposure threshold 😬).

So, a bit O/T and general DPs, some time late last year I tried for a third card, because why not? Maybe policies had changed. Bzzzzzt, nope! Though, no HP/SP, the letter was nicely written to state I already had the max exposure amount 🤷‍♂️

Re: USAA Limitless Nerfed to 1.5% Cash Back

UncleB — Tue, 08 Mar 2022 01:55:31 GMT

@Anonymous wrote:
@UncleB wrote:
Pour one out for the USAA Limitless... it's being PC'ed (nerfed) to their 1.5 Preferred Cash Rewards Visa.

@UncleB you should be grateful! They are trying to serve the financial needs of their members and are helpfully simplifying the offerings. What more do you want from an issuer!

Hopefully the Altitude Reserve will soon be equally helpful, and make the card a flat 1%, so you don't have to worry about whether to use mobile wallet or not.....

Haha, that wouldn't surprise me at all.

Actually, I would have expected a nerf on the AR before the Limitless, but that shows what I know. 🤷‍♂️

Re: USAA Limitless Nerfed to 1.5% Cash Back

Remedios — Tue, 08 Mar 2022 01:59:19 GMT

@UncleB wrote:
Pour one out for the USAA Limitless... it's being PC'ed (nerfed) to their 1.5 Preferred Cash Rewards Visa.

☹️

They didn't even try 2%

Re: USAA Limitless Nerfed to 1.5% Cash Back

UncleB — Tue, 08 Mar 2022 02:10:37 GMT

@FinStar wrote:
@UncleB wrote:
@FinStar wrote:
Oh noes 😱💀

I know we discussed a 'negotiation' thing somewhere, so since this one is now going to be dead in the water (which is really unfortunate), I have switched my sights to your...ummm...'precious' AR 😂 ...you have until December soooo 😉
Haha... our 'chat' was actually one of my first thoughts!

I'm not sure what I'm going to do with it after December... I don't need yet another Quicksilver.

An interesting side thought... they have now demonstrated that they have the ability to do a PC; it sure would be nice if they would start to offer 'voluntary' PCs on their other cards. I would love to PC my useless 'points' Visa card to their Cashback Rewards Plus Amex, but of course at this time it's not possible.
So 'forced' PCs seems to indicate that their systems are capable of such a thing, just not something they entertain for the masses to initiate. And, while I like the USAA relationship, I really wish they had a bit more flexibility on PCs and/or CL reallocations or account combos (or raise the unsecured exposure threshold 😬).

So, a bit O/T and general DPs, some time late last year I tried for a third card, because why not? Maybe policies had changed. Bzzzzzt, nope! Though, no HP/SP, the letter was nicely written to state I already had the max exposure amount 🤷‍♂️

Yeah, I've always suspected it was a policy issue rather than a system constraint... I guess I was just wishing out-loud, LOL. Navy really does outshine them in that regard... Navy has lots of flexibility, and USAA has virtually none.

I thought about going for the USAA Amex just for the $200, but I decided against it; now I'm considering it once again. If approved I would have an alternative to the Sam's Club MC for 5% back on gas, if declined no biggie since I'm already disappointed today. Still on the fence with that one.

Additional off-topic thought... my Citi Double Cash just became more valuable. Combined with the Rewards+ the Double Cash is effectively a 2.2% card, which is nearly as good as the Limitless.

Re: USAA Limitless Nerfed to 1.5% Cash Back

UncleB — Tue, 08 Mar 2022 02:03:17 GMT

@Remedios wrote:
@UncleB wrote:
Pour one out for the USAA Limitless... it's being PC'ed (nerfed) to their 1.5 Preferred Cash Rewards Visa.

☹️
They didn't even try 2%

I know... I thought about that as well. Lame, right?

Re: USAA Limitless Nerfed to 1.5% Cash Back

Remedios — Tue, 08 Mar 2022 02:07:04 GMT

@UncleB wrote:
@Remedios wrote:
@UncleB wrote:
Pour one out for the USAA Limitless... it's being PC'ed (nerfed) to their 1.5 Preferred Cash Rewards Visa.

☹️
They didn't even try 2%
I know... I thought about that as well. Lame, right?

Yes, very lame. Time to apply for Active Cash.

Re: USAA Limitless Nerfed to 1.5% Cash Back

FinStar — Tue, 08 Mar 2022 02:10:33 GMT

@UncleB wrote:
@Remedios wrote:
@UncleB wrote:
Pour one out for the USAA Limitless... it's being PC'ed (nerfed) to their 1.5 Preferred Cash Rewards Visa.

☹️
They didn't even try 2%
I know... I thought about that as well. Lame, right?

Heck, that makes the Citizens Cashback Plus 1.8% or Fifth Third Cashback 1.67% cards a bit more attractive 😂

Re: USAA Limitless Nerfed to 1.5% Cash Back

UncleB — Tue, 08 Mar 2022 02:12:55 GMT

@Remedios wrote:
@UncleB wrote:
@Remedios wrote:
@UncleB wrote:
Pour one out for the USAA Limitless... it's being PC'ed (nerfed) to their 1.5 Preferred Cash Rewards Visa.

☹️
They didn't even try 2%
I know... I thought about that as well. Lame, right?
Yes, very lame. Time to apply for Active Cash.

Hmm... something to think about. 🤔

(The Venmo Visa is back on the table as well.)

Re: USAA Limitless Nerfed to 1.5% Cash Back

SouthernCredit — Tue, 08 Mar 2022 02:19:22 GMT

Letter says they are simplifying to make way for new products in the near future. Perhaps something more valuable than Limitless is coming, and perhaps those affected by this will be given the opportunity to PC into that. Not holding my breath though.

Re: USAA Limitless Nerfed to 1.5% Cash Back

FinStar — Tue, 08 Mar 2022 02:23:43 GMT

@UncleB wrote:
@Remedios wrote:
@UncleB wrote:
@Remedios wrote:
@UncleB wrote:
Pour one out for the USAA Limitless... it's being PC'ed (nerfed) to their 1.5 Preferred Cash Rewards Visa.

☹️
They didn't even try 2%
I know... I thought about that as well. Lame, right?
Yes, very lame. Time to apply for Active Cash.
Hmm... something to think about. 🤔

(The Venmo Visa is back on the table as well.)

Limitless options @UncleB.

Too soon? 😬💀

Re: USAA Limitless Nerfed to 1.5% Cash Back

CBartowski — Tue, 08 Mar 2022 02:41:39 GMT

@UncleB wrote:
Pour one out for the USAA Limitless... it's being PC'ed (nerfed) to their 1.5 Preferred Cash Rewards Visa.

Ouch! I'm less envious now but man this is rough I'm sorry everyone!

I will say this may be another example of USAA losing its touch. I know its an unpopular opinion, still a great company but their products just arent up to par these days.

Re: USAA Limitless Nerfed to 1.5% Cash Back

Kahnawake007 — Tue, 08 Mar 2022 03:26:46 GMT

@SouthernCredit wrote:
Letter says they are simplifying to make way for new products in the near future. Perhaps something more valuable than Limitless is coming, and perhaps those affected by this will be given the opportunity to PC into that. Not holding my breath though.

Considering the rollout for Limiless was restrictive, at least at first... It by itself was almost a rare promo. Being in Las Vegas it wasn't available until after I got my CRP. Actually, not too sure it had a full rollout to be honest. It was never offered to me at least.

Re: USAA Limitless Nerfed to 1.5% Cash Back

Anonymous — Wed, 09 Mar 2022 09:58:31 GMT

Just sick over this nerf of the USAA Limitless Visa Signature Card! When they discontinued the mandatory minimum monthly deposit I did not see that as a foreshadow of things to come!

The replacement card is worthless to me ... and will add USAA Savings Bank keeps adjusting products to the point where it has lost it's way in the modern banking world. As has already been brought out in this thread there are other fish in the sea. Rant ... I do not need a 1.5% cash rewards card!

Closed their USAA Rewards Visa Signature Card with 1% basically as it was useless. Now this?!

Suggestions of 2% was an idea along with 1.8% ... (available as posted at other lenders)? USAA seems bent on slowly disappearing into the sunset? As to the size of their "Limited" offering back in 2017, it was around 28 states and they said from the beginning it was a card they wanted to feel out the market with.

As a bank their ACH/EFT Services are tops and their checking products adequate. Their CD Rates and Savings Rates used to be good or better and that was back several years. Last year they quit offering statements with check images (say what?). Related to their insurance which gets top ratings from Consumer Reports, they gave me a quote that was 50% higher than the next company and I talked with their underwriters which informed me they did not have a large enough USAA Insurance presence in my northern wilderness (outback) to go lower in their rates so, I told them I would not be the one paying for them to build and experience mod.

Time to shop banks! Just sick

Follow-up ... my local bank that still was in the 1950s for service was modernized once dad stepped down as bank president (two years ago) and the son took over. Going in today and will take advantage of their modern services that now match and exceed USAA's. Likely I will close out the credit cards and banking that USAA provides since I don't need another bank (like credit cards I do not have a use for) and it does makes me sad

Re: USAA Limitless Nerfed to 1.5% Cash Back

SouthernCredit — Tue, 08 Mar 2022 13:44:56 GMT

@Anonymous wrote:
Just sick over this nerf of the USAA Limitless Visa Signature Card! When they discontinued the mandatory minimum monthly deposit I did not see that as a foreshadow of things to come!

The replacement card is worthless to me ... and will add USAA Savings Bank keeps adjusting products to the point where it has lost it's way in the modern banking world. As has already been brought out in this thread there are other fish in the sea. Rant ... I do not need a 1.5% cash rewards card!

Closed their USAA Rewards Visa Signature Card with 1% basically as it was useless. Now this?!

Suggestions of 2% was an idea along with 1.8% ... (available as posted at other lenders)? USAA seems bent on slowly disappearing into the sunset? As to the size of their "Limited" offering back in 2017, it was around 28 states and they said from the beginning it was a card they wanted to feel out the market with.

As a bank their ACH/EFT Services are tops and their checking products adequate. Their CD Rates and Savings Rates used to be good or better and that was back several years. Last year they quit offering statements with check images (say what?). Related to their insurance which gets top ratings from Consumer Reports, they gave me a quote that was 50% higher than the next company and I talked with their underwriters which informed me they did not have a large enough USAA Insurance presence in my northern wilderness (outback) to go lower in their rates so, I told them I would not be the one paying for them to build and experience mod.

Time to shop banks! Just sick

Same thing happened to me. Been a USAA customer for over 20 years. Got ready to buy a new house end of the year last year, and their homeowners quote was $4000/year more than anyone else (and 4000 more than the house I then had insured - new house was in same metro area). Management and underwriting could/would not give me an explanation for the 250% increase, so I took my homeowners/auto elsewhere.

I left my VPP policy and credit card active to keep membership up in case they get their business together, but I'm not holding out hope.

Re: USAA Limitless Nerfed to 1.5% Cash Back

RockinRay — Tue, 08 Mar 2022 16:04:26 GMT

Man this was my "go to" card. Sucks that they did this. Oh well.....

I agree with Uncle B that the Venmo card is back on the table now. I will have to give some thought as to what to use once the Limitless dumbs down.

Good things do not last forever - but this was a really good run for me!