topic Re: PCM 5% also nerfed in Credit Cards

PCM 5% also nerfed

Wu-Credit — Thu, 08 Aug 2024 03:58:17 GMT

Looks like another CUnicorn card has fallen victim to being nerfed. This time PCM.

https://www.reddit.com/r/CreditCards/comments/1emmqqe/death_of_a_unicorn_the_pcm_5_on_everything_card/

Re: PCM 5% also nerfed

unsungivy — Thu, 08 Aug 2024 06:08:47 GMT

@Wu-Credit wrote:
Looks like another CUnicorn card has fallen victim to being nerfed. This time PCM.

https://www.reddit.com/r/CreditCards/comments/1emmqqe/death_of_a_unicorn_the_pcm_5_on_everything_card/

So now it's worse than AOD. Same 3x and $1500 cap, but with a FTF and AF.

Like the thread says, at least people won't feel bad about not being able to get it anymore.

Re: PCM 5% also nerfed

ptatohed — Thu, 08 Aug 2024 06:21:17 GMT

I really need to fix my sig now.

Re: PCM 5% also nerfed

CreditCuriosity — Thu, 08 Aug 2024 13:35:51 GMT

Weird how so many nerfs are coming especially in form of CU's they must be feeling the pain of uptick in defaults as well. In AZ visiting family now and trying to decide it I want to open a Vantage West savings account while down here or not and hope the card comes back in a better scope on the future that way don't get unable to verify identity crud despite my mom joining so I could get in.

Re: PCM 5% also nerfed

Wu-Credit — Thu, 08 Aug 2024 18:26:13 GMT

@CreditCuriosity wrote:
Weird how so many nerfs are coming especially in form of CU's they must be feeling the pain of uptick in defaults as well. In AZ visiting family now and trying to decide it I want to open a Vantage West savings account while down here or not and hope the card comes back in a better scope on the future that way don't get unable to verify identity crud despite my mom joining so I could get in.

Yeah I'm just sitting here hoping my 5% Addition CU card doesn't fall victim. I already dealt with the Affinity CR nerf. Luckily avoided Vantage West as I was denied for membership OOS a couple months back.

You all remember that MidFlorida CU card that was 2.5%? It was nerfed to 2% eventually and is now nerfed again to 1.5%.

https://www.midflorida.com/loans-and-mortgages/credit-cards/signature/

It seems that when a CU card is too good to be true, it either gets restricted or nerfed.

Re: PCM 5% also nerfed

Anonymous — Thu, 08 Aug 2024 18:29:56 GMT

@Wu-Credit wrote:

It seems that when a CU card is too good to be true, it either gets restricted or nerfed.

True for bank cards too (upcapped BCP from Amex, Cash+ from USBank) but the timeframe matters too. The AOD uncapped 3% lasted a long time (with many of us constantly knowing it would be nerfed really soon now....!) and even post-nerf is far from bad.

My lesson has been jump on things too good to be true early, so you maximize the time you benefit! But obviously, choose well! I chose USAlliance over AOD and that turned out to be a mistake.

Re: PCM 5% also nerfed

CreditCuriosity — Fri, 09 Aug 2024 12:18:45 GMT

@Wu-Credit wrote:
@CreditCuriosity wrote:
Weird how so many nerfs are coming especially in form of CU's they must be feeling the pain of uptick in defaults as well. In AZ visiting family now and trying to decide it I want to open a Vantage West savings account while down here or not and hope the card comes back in a better scope on the future that way don't get unable to verify identity crud despite my mom joining so I could get in.
Yeah I'm just sitting here hoping my 5% Addition CU card doesn't fall victim. I already dealt with the Affinity CR nerf. Luckily avoided Vantage West as I was denied for membership OOS a couple months back.

You all remember that MidFlorida CU card that was 2.5%? It was nerfed to 2% eventually and is now nerfed again to 1.5%.
https://www.midflorida.com/loans-and-mortgages/credit-cards/signature/

It seems that when a CU card is too good to be true, it either gets restricted or nerfed.

Yep had mid florida as well and went through two nerfs and closed it after the 2nd nerf to 1.5%. Have addition cu membership but have yet to do anything with that and did open Vantage West CU while in Scottsdale, AZ today. No issues doing it in branch with my mother with me although CHEXs inquiry was a slight issue and manager gladly overrode that issue and opened the account and just threw 50 into it if anything ever comes with the card but they fully admitted to nerf when talking if i wanted to open a CC with them. All the material in branch shows 5% still which is misleading for people.

Re: PCM 5% also nerfed

Gregory1776 — Fri, 09 Aug 2024 02:31:28 GMT

Don't melt folks! It is only 50 bucks max "loss"

Re: PCM 5% also nerfed

ptatohed — Fri, 09 Aug 2024 05:44:06 GMT

@Gregory1776 wrote:
Don't melt folks! It is only 50 bucks max "loss"

I think a loss of an easy, free $600/year is worth melting over.

Re: PCM 5% also nerfed

Wu-Credit — Fri, 09 Aug 2024 06:09:47 GMT

@ptatohed wrote:
@Gregory1776 wrote:
Don't melt folks! It is only 50 bucks max "loss"
I think a loss of an easy, free $600/year is worth melting over.

I'm cheap af. If I had this card I'd be..

Re: PCM 5% also nerfed

SouthJamaica — Fri, 09 Aug 2024 13:27:03 GMT

@CreditCuriosity wrote:
Weird how so many nerfs are coming especially in form of CU's they must be feeling the pain of uptick in defaults as well. In AZ visiting family now and trying to decide it I want to open a Vantage West savings account while down here or not and hope the card comes back in a better scope on the future that way don't get unable to verify identity crud despite my mom joining so I could get in.

If you would have any use for a non-rewards card with low interest, no-fee cash advances, no-fee balance transfers, rapid pulled payment processing, and easy online cash advances and balance transfers, I can recommend their regular non-rewards Connect card. I find Vantage West to be a nice, no-hassle, user-friendly institution.

Re: PCM 5% also nerfed

CreditCuriosity — Fri, 09 Aug 2024 14:11:08 GMT

@SouthJamaica wrote:
@CreditCuriosity wrote:
Weird how so many nerfs are coming especially in form of CU's they must be feeling the pain of uptick in defaults as well. In AZ visiting family now and trying to decide it I want to open a Vantage West savings account while down here or not and hope the card comes back in a better scope on the future that way don't get unable to verify identity crud despite my mom joining so I could get in.
If you would have any use for a non-rewards card with low interest, no-fee cash advances, no-fee balance transfers, rapid pulled payment processing, and easy online cash advances and balance transfers, I can recommend their regular non-rewards Connect card. I find Vantage West to be a nice, no-hassle, user-friendly institution.

thought i saw an AF on that card of $25 unless maybe conditions waived it?

Re: PCM 5% also nerfed

unsungivy — Fri, 09 Aug 2024 14:29:03 GMT

@ptatohed wrote:
I really need to fix my sig now.

I've been watching and you haven't fixed it yet!

Re: PCM 5% also nerfed

SouthJamaica — Fri, 09 Aug 2024 15:56:53 GMT

@CreditCuriosity wrote:
@SouthJamaica wrote:
@CreditCuriosity wrote:
Weird how so many nerfs are coming especially in form of CU's they must be feeling the pain of uptick in defaults as well. In AZ visiting family now and trying to decide it I want to open a Vantage West savings account while down here or not and hope the card comes back in a better scope on the future that way don't get unable to verify identity crud despite my mom joining so I could get in.
If you would have any use for a non-rewards card with low interest, no-fee cash advances, no-fee balance transfers, rapid pulled payment processing, and easy online cash advances and balance transfers, I can recommend their regular non-rewards Connect card. I find Vantage West to be a nice, no-hassle, user-friendly institution.
thought i saw an AF on that card of $25 unless maybe conditions waived it?

Yeah I guess you're right. I don't think they've ever charged me an annual fee. Maybe it's a new thing.

Re: PCM 5% also nerfed

Anonymous — Fri, 09 Aug 2024 19:31:14 GMT

@ptatohed wrote:
@Gregory1776 wrote:
Don't melt folks! It is only 50 bucks max "loss"
I think a loss of an easy, free $600/year is worth melting over.

Well, I would disagree, but it's not that anyway!

Before: 5% @ $1000 per month, $50 per month = $600 a year

Now: 3% @ $1,500 per month, $45 per month = $540 a year.

So $60 less, requiring more spend.

But even if you just spend $1000 a month, you would $360 a year, so $240 change. Perhaps still worthh melting over?

Re: PCM 5% also nerfed

Anonymous — Fri, 09 Aug 2024 21:47:15 GMT

@Anonymous wrote:
@ptatohed wrote:
@Gregory1776 wrote:
Don't melt folks! It is only 50 bucks max "loss"
I think a loss of an easy, free $600/year is worth melting over.
Well, I would disagree, but it's not that anyway!
Before: 5% @ $1000 per month, $50 per month = $600 a year
Now: 3% @ $1,500 per month, $45 per month = $540 a year.

So $60 less, requiring more spend.

But even if you just spend $1000 a month, you would have $360 a year, so $240 change. Perhaps still worth melting over?

Perfect math and explaination @Anonymous .

I would like to add two things (no corrections).

First:
If previously per month $1000 was spent on PCM 5% and $500 was spent on a 2% catchall then combining to hit $1500 month is a realistic $180 max loss at $1500 month spend.

Second:
It is not actually a change from 5% to 3%
It is 5% cashback to 3x rewards system

Remains to be seen how they decide to structure the Uchoose value system and points systems are always open to value change.

Are the points 1 CCP each?
Are statement credits available?
Is there a minimum redemption?
Do they expire?
Are there gift card options?
Are the gift card options crap like "Big Papa Joe's Pancake eatery?"
Etc.

Re: PCM 5% also nerfed

Gregory1776 — Sat, 10 Aug 2024 00:21:01 GMT

@Wu-Credit wrote:
@ptatohed wrote:
@Gregory1776 wrote:
Don't melt folks! It is only 50 bucks max "loss"
I think a loss of an easy, free $600/year is worth melting over.
I'm cheap af. If I had this card I'd be..

If your not already living a very frugal life, you can easily find $600 to not spend in a year.

Re: PCM 5% also nerfed

Anonymous — Sat, 10 Aug 2024 01:01:42 GMT

@Gregory1776 wrote:
@Wu-Credit wrote:
@ptatohed wrote:
@Gregory1776 wrote:
Don't melt folks! It is only 50 bucks max "loss"
I think a loss of an easy, free $600/year is worth melting over.
I'm cheap af. If I had this card I'd be..
If your not already living a very frugal life, you can easily find $600 to not spend in a year.

Arbitrary comments are arbitrary

And if you are living a very frugal life then don't eat for 2 or 3 months?