topic Re: USBAR nerfed, apparently. in Credit Cards

USBAR nerfed, apparently.

AskPatient1281 — Tue, 29 Jul 2025 01:21:06 GMT

Source:

https://www.doctorofcredit.com/u-s-bank-to-make-negative-changes-to-u-s-bank-altitude-reserve-travel-transfers-1%C2%A2-per-point-instead-of-1-5%C2%A2/

Re: USBAR nerfed, apparently.

NoHardLimits — Tue, 29 Jul 2025 01:35:28 GMT

The changes look absolutely awful for me. Losing the 1.5x on redemptions, as well as only being able to use the $325 travel/dining credit on portal travel, are value killers.

Re: USBAR nerfed, apparently.

CreditCuriosity — Tue, 29 Jul 2025 01:59:58 GMT

If these are true will certainly dump.

Re: USBAR nerfed, apparently.

NoHardLimits — Tue, 29 Jul 2025 03:46:20 GMT

The photo posted on the Dr of Credit blog states that the recipient of the letter should go to a website for more information about these changes. As of this moment, the website still reflects the grandfathered terms.

usbank.com/AltitudeReserveBenefits

I suspect that I will be refreshing that page multiple times a day, holding my breath each time.

Re: USBAR nerfed, apparently.

CreditMagic7 — Tue, 29 Jul 2025 03:27:33 GMT

Re: USBAR nerfed, apparently.

summerterrace — Tue, 29 Jul 2025 07:49:23 GMT

Will be canceling and closing my checking account.

Re: USBAR nerfed, apparently.

digitek — Tue, 29 Jul 2025 13:55:28 GMT

US Bank hitting their cards out of the park with the Nerf Bat lately!

Smartly just became a little less useful, this change to the Alt Reserve will have me closing it if true. Redemptions cut by a third, credit only usable on their travel portal, $5k montly cap on x3.

End of an era for this card, was truly the GOAT.

Re: USBAR nerfed, apparently.

G2244 — Tue, 29 Jul 2025 14:16:25 GMT

This is turing into a banking blood bath. I made the unfortunate decision to go nearly all in with US Bank earlier in the year - 3 credit cards, a ROTH IRA, and using for primary banking. Now, looks like that decision may be turning out to be a poor one...

I was hopeful the AR would just sit out there as is and make everything else less of a big deal. However, with them cutting back the travel redemption this basically gives me a 3x card. I specifically have this card as I am Team Cash Back and don't want to play the miles game.

I am still waiting for my letter on the Smartly so not sure if I will still be getting 4% back there either after 9/15. If that drops to 2% (not putting 100K in checking) I may be cutting my losses and moving elsewhere. I would keep the Cash+ if they don't nerf it, but fully expect that shoe to drop soon.

Re: USBAR nerfed, apparently.

swankytiger — Tue, 29 Jul 2025 14:33:58 GMT

Bank Of America stays winning by forgetting they even do credit cards essentially or by having realistic percentages.

Seems like nothing over 2.625% is gonna survive except for the few 3% cards that are semi geolocked.

Re: USBAR nerfed, apparently.

CreditCuriosity — Tue, 29 Jul 2025 15:29:48 GMT

@G2244 wrote:I would keep the Cash+ if they don't nerf it, but fully expect that shoe to drop soon.

Cash+ should remain fine as capped etc.. Have two of them. I have no doubt that the AR nerf is coming though based on what they did to the Smarthly either cause losing money on the AR or to save face to the bad choice of the Smarthy card or both.

When nerf comes will cancel and just keep CSP/Ritz/AOD and likely do platinum preferred honors with Merrill and transfer money to them and use their Premium rewards cards as net positive AF with travel credit, etc. Obviously have other cards for other needs such as a few citi custom cashes as well among others.

Re: USBAR nerfed, apparently.

NoMoreE46 — Tue, 29 Jul 2025 16:38:55 GMT

I am renaming US Bank as NERF Bank.

Re: USBAR nerfed, apparently.

xenon3030 — Tue, 29 Jul 2025 18:19:48 GMT

So, they nerfed their two flagship credit products in a few months and turn them into "flagsheep"

If that would be the case, I would PC it to another Cash+. I also would get a few more co-branded US Bank credit cards for better 5% coverage on digital wallet (each 5k per year).

Re: USBAR nerfed, apparently.

coldfusion — Tue, 29 Jul 2025 18:14:22 GMT

@NoMoreE46 wrote:
I am renaming US Bank as NERF Bank.

Some of us who have been around here for a while also know it as SOCKS bank, although I'm starting to think that a vowel change might be apropos.

Re: USBAR nerfed, apparently.

CreditCuriosity — Tue, 29 Jul 2025 18:18:51 GMT

@coldfusion wrote:
@NoMoreE46 wrote:
I am renaming US Bank as NERF Bank.

Some of us who have been around here for a while also know it as SOCKS bank, although I'm starting to think that a vowel change might be apropos.

E would have to be my guess on a vowel

Re: USBAR nerfed, apparently.

Vinjints — Tue, 29 Jul 2025 18:25:45 GMT

May I have the definition of SOCKS Bank, please?

I am surprised at the lack of love for the bank, given all the users that seem to have their cards, including the off-brand MCPs and Krogers.

Re: USBAR nerfed, apparently.

crystal626 — Tue, 29 Jul 2025 18:47:56 GMT

Man US Bank is on a roll with the nerfs. What's next, Altitude Go losing 4% dining?

Re: USBAR nerfed, apparently.

Rockysocks — Tue, 29 Jul 2025 18:59:47 GMT

Didn't it already, essentially, by no longer being redeemable at 1 cent per point? Or am I making stuff up in my head lol

@crystal626 wrote:
Man US Bank is on a roll with the nerfs. What's next, Altitude Go losing 4% dining?

Re: USBAR nerfed, apparently.

NoHardLimits — Tue, 29 Jul 2025 19:01:01 GMT

@crystal626 wrote:
Man US Bank is on a roll with the nerfs. What's next, Altitude Go losing 4% dining?

Altitude Go and Connect already devalued in April. Go is only 4% on dining when redeeming to a US Bank account. For Real-Time-Rewards or a credit card statement credit, it's more like 3.2%.

https://ficoforums.myfico.com/t5/Credit-Cards/US-Bank-Altitude-Go-reward-change-statement-credit-from-2-500-to/m-p/6823544

Re: USBAR nerfed, apparently.

NoHardLimits — Tue, 29 Jul 2025 19:09:08 GMT

@Vinjints wrote:
May I have the definition of SOCKS Bank, please?

It's a joke that started several years ago. A forum member mentioned having an actual pair of US Bank socks. The nickname of "Socks Bank" was given and still weaves its way through the forum.

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/AR-approval-low-limit-but-yay-Update-got-charity-increase-paid/m-p/5660628

Re: USBAR nerfed, apparently.

NoHardLimits — Tue, 29 Jul 2025 19:21:09 GMT

@CreditCuriosity wrote:
@G2244 wrote:I would keep the Cash+ if they don't nerf it, but fully expect that shoe to drop soon.
Cash+ should remain fine as capped etc.. Have two of them. I have no doubt that the AR nerf is coming though based on what they did to the Smarthly either cause losing money on the AR or to save face to the bad choice of the Smarthy card or both.

Cash+ had a minor nerf earlier this year when Real-Time-Rewards devalued to less than 1 cent per point. Statement credits still value at 1cpp, but with a $25 minimum redemption. Considering that Altitude Go and Connect already amended their statement credits to less than 1cpp (unless deposited into a US Bank account), I can envision that restriction filtering its way down to Cash+ at some point.