topic Re: Canceling US bank shopper rewards credit card in Credit Cards

Canceling US bank shopper rewards credit card

Hammer — Tue, 11 Mar 2025 21:27:24 GMT

I got my US bank shopper credit card 1.5 years ago. It came with a $500 SL. I was disappointed at wasting the hard inquiry. All my other credit cards have had a higher SL and most of them were over 10k at the time. My scores were 690-700 at the time and gross income was 120k/yr. It's worth noting I live outside U.S. Bank's territory and there is no branch within at least 500 miles. I said alright, at least I get 6% on Amazon. But now I have the Amex Prime Business 5% back card for all my business Amazon purchases.

I've been using the card a few times a month, always charging personal Amazon puchases for 6% back and utility bills for 3% back. I spend $300-400 a month and always pay the card before the statement close date. My income has increased very significantly and Cap1 raised the CL on my Quicksilver to 25k. I've had no trouble getting an auto lease and a couple personal loans for good APRs as well. My credit score has increased over those 1.5 years; it's now 740-750 on EX and 710-730 on EQ/TU (although currently 680 on EQ/TU because of the Chase Ink glitch). AAoA 3y8mo, AoOA 9y9mo, total personal CL = 87k at 8-12% util for the past year, 9 inq in the past 24mo. No BK, 0 late payments, no collections in my life.

Despite me regularly using the card, never going over limit, always paying it on time to zero or a de-minimis balance, my credit report improving and my income drastically increasing, no CLI from U.S. Bank. I calculated that the reward rates only save me $180 per year while it has a $95 annual fee. I asked for a modest CLI 6 months ago but was denied. I'm not gettting any value out of this card anymore. I also feel that U.S. Bank does not value me as a customer for whatever reason. If I want a new loan or CC I'll ask Cap1 or Chase, who have always treated me fairly.

I think I should cancel this account. It's 1y6mo old while my AAoA is 3y8mo and is < 1% of my total personal CL. Is canceling this card more likely to improve my score than hurt it? Or would closing it be a red flag even if the score improves?

Re: Canceling US bank shopper rewards credit card

ptatohed — Tue, 11 Mar 2025 23:14:06 GMT

I think you are giving this too much thought. I would simply close it and not look back.

Re: Canceling US bank shopper rewards credit card

Varsity_Lu — Wed, 12 Mar 2025 00:16:36 GMT

@Hammer wrote:
I'm not gettting any value out of this card anymore. I also feel that U.S. Bank does not value me as a customer for whatever reason.

I think you have the answer.

Re: Canceling US bank shopper rewards credit card

NoHardLimits — Wed, 12 Mar 2025 00:53:30 GMT

I just closed my Shopper Cash Rewards account. It had a $20,000 credit limit, so it would seem that US Bank "valued" me. However, I wasn't getting enough use out of it to warrant paying the $95 annual fee which was due in a few weeks.

Re: Canceling US bank shopper rewards credit card

GZG — Wed, 12 Mar 2025 03:59:03 GMT

turn it into the Alt Connect for the four PP lounge visits per year if needed, IMO

Re: Canceling US bank shopper rewards credit card

DoppelgangerD — Wed, 12 Mar 2025 11:47:20 GMT

I can't believe no one has suggested to product change the card to a Cash+ card that would give you 5% cash back on utilities and another category with no annual fee.

Also I'm not sure why you think closing the account will improve you score.